On a crazy Monday, gold fell back to around 3076 and then rebounded, and continued to rise to around 3128. It has now fallen back slightly and is fluctuating in a narrow range around 3120!
Although gold does maintain a strong position at present, what makes me more alert is that once gold retreats $3-5, it will be enough to make more buyers crazy and actively rush into gold long transactions. This is an extremely dangerous signal in my opinion! Because if with the withdrawal of large funds and panic selling, more bulls will be defeated.
So I explicitly refuse to chase long gold above 3120, because as gold rises rapidly, the risk of going long is gradually accumulating, so the liquidity of gold is gradually weakening, so gold may need to retreat more to increase liquidity before continuing to rise! And if the tariff policy introduced on April 2 is carried out in a more moderate way, then market sentiment will be greatly eased, and gold may also collapse.
So I think in short-term trading, we can still short gold in batches in the 3125-3135 zone, and expect gold to at least fall back to the 3100-3090 zone.
Although gold does maintain a strong position at present, what makes me more alert is that once gold retreats $3-5, it will be enough to make more buyers crazy and actively rush into gold long transactions. This is an extremely dangerous signal in my opinion! Because if with the withdrawal of large funds and panic selling, more bulls will be defeated.
So I explicitly refuse to chase long gold above 3120, because as gold rises rapidly, the risk of going long is gradually accumulating, so the liquidity of gold is gradually weakening, so gold may need to retreat more to increase liquidity before continuing to rise! And if the tariff policy introduced on April 2 is carried out in a more moderate way, then market sentiment will be greatly eased, and gold may also collapse.
So I think in short-term trading, we can still short gold in batches in the 3125-3135 zone, and expect gold to at least fall back to the 3100-3090 zone.
Trade active
Bros, look at gold! It is retreating as expected, and our profits are rolling in quickly!You must keep your trading mind active, only in this way can you avoid too many stupid trading signals.The trading strategy verification accuracy rate is more than 90%; one step ahead, exclusive access to trading strategies and real-time trading settings
Trade closed: target reached
Gold just pulled back to below 3100 as expected. We closed our positions in time and locked in huge profits. The short-selling gold trading strategy was very unique and achieved huge returns. Bros, did you follow me to short gold?We must keep our trading mind active, only in this way can we avoid too many stupid trading signals.The trading strategy verification accuracy rate is more than 90%; one step ahead, exclusive access to trading strategies and real-time trading settings
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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.