Gold Spot / U.S. Dollar
Short
Updated

Continue to short gold

338
Dear Traders,

Yesterday, gold touched the 2860 region before rebounding and continuing its upward move, reaching above 2920. Overall, gold is still in a bullish structure.

From a short-term perspective, gold’s intraday high is at 2923, with technical resistance in the 2925-2930 zone. Currently, gold's volatility is contracting within the 2915-2920 range. In terms of breakout potential, gold is lacking liquidity for a decisive move in the short term. Therefore, even if gold attempts to reach new highs or extend its breakout, it may first need to pull back in order to increase liquidity.

For short-term trading, we can look to short gold in small positions within the 2920-2925 resistance zone and target a pullback toward the 2910-2900 region.

Bros, do you have the courage to short gold with me? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
Trade active
Bros, under the influence of the negative PPI and unemployment data, gold fell back to the 2910-2900 zone as expected. Did you follow me to short gold in the 2920-2925 zone? If you followed me to short gold in the 2920-2925 zone, I believe you have made a good profit by hitting the TP. If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
Trade closed: target reached
Gold reached the 2910-2900 area as expected, and our short position also made a very good profit. At present, gold is almost in a no-man's land, and the market is quite ambiguous and controversial about gold, so we have to be more cautious in trading. At present, the short-term support area of ​​gold is 2905-2900. If gold fails to fall below this area after consuming the short energy, we can rely on this area to support long gold.If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!

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