The data released so far show that the US inflation data is stable and tends to decline, which increases the possibility of the Fed's monetary policy. The US dollar index fell first and then rose. Gold opened at around 3344 and rebounded all the way. The current highest rebound is around 3366. It fell back to 3352 before the data was released, and then quickly rebounded to 3360. After the data was released, it fell again quickly, and the current lowest touched around 3346. The short orders around 3360-3365 that we shared with brothers before were basically the highest short orders of the day, and we successfully completed our first goal. The brothers who participated in it all made good profits. Judging from the current trend of gold, we continue to participate in short orders during the rebound, and the long position is still around 3335-3330. After the release of the CPI data, it is bearish overall. The core is that it is lower than market expectations but higher than the previous value. Inflation has heated up again, which has once again suppressed the expectation of interest rate cuts. After this data, it also laid a good foundation for the decline in the market. If the price goes up again, it will still rely on the 3365 level to go short again. The data is obviously bearish, and it scared a lot of long positions before it was released.
Gold reference ideas:
Continue to short when it rebounds to around 3358-3365, with a target around 3350-3340;
Go long when it falls back to around 3335-3330, with a target around 3350.
Gold reference ideas:
Continue to short when it rebounds to around 3358-3365, with a target around 3350-3340;
Go long when it falls back to around 3335-3330, with a target around 3350.
Trade active
After the data was released, gold quickly dropped to around 3344, and then started a rebound trend. Congratulations to the brothers who ambushed in advance and grasped the rhythm of "short first and long later". The short-term rebound successfully hit the first-line target of 3350, which was a very good performance! Don't be discouraged if you haven't kept up. The market rotates quickly, and opportunities are always reserved for those who are prepared. The key is to maintain the trading rhythm, control emotions, avoid blindly chasing orders, and wait for your own exit opportunities. At present, gold is still in a volatile bearish pattern. Although the volatility has intensified, the overall structure is still clear: rebound high and high are the main, and retracement is low and long is the auxiliary. The direction is clear, the position is clear, and the rest is patient waiting and decisive execution. Maintain discipline and plan, the next market is still worth looking forward to, pay attention to the market, and I will remind you as soon as possible if there is a chance! For more specific operation details and strategy updates, please pay attention to the bottom notification.Trade closed: target reached
Today, the rhythm of gold going short first and then long is perfectly grasped. The overall market reaction is complicated. The gold price failed to form an effective upward breakthrough with the favorable data. The upper resistance is significant. From a technical point of view, the current shorts have a certain advantage. If you want to go long, you need to wait patiently. Focus on the strong support area of 3325 below. If it can stabilize here, you can still consider continuing to go long on gold.
I treat every partner with my best efforts. I do not promise huge profits, but only pursue replicable and stable profits. Many people are already on this path, and you can too.Free witness telegram group t.me/TP_Daniel1
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I treat every partner with my best efforts. I do not promise huge profits, but only pursue replicable and stable profits. Many people are already on this path, and you can too.Free witness telegram group t.me/TP_Daniel1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.