The trend of the gold market yesterday was highly consistent with our strategy. The fluctuation range of the gold price within the day was clear. The lowest point touched was $3,216, and the highest point rose to $3,265. As a whole, it presented a typical rectangular oscillation pattern, which was in full accordance with the analysis and prediction we released over the weekend.
In terms of the trading strategy, within the oscillation range of $3,200 to $3,270, it is recommended to adopt the trading idea of selling on rallies. It is relatively prudent to place short positions after the price rebounds to a high level. However, going long at a low position requires caution as there is a certain degree of risk. Currently, we need to focus on the breakthrough of the key level of $3,215. If the gold price effectively breaks below $3,215 today, the support of the round number level of $3,200 may be challenged, and there may be a risk of losing this support level.
I am committed to sharing trading signals every day. Among them, real-time signals will be flexibly pushed according to market dynamics. All the signals sent out last week accurately matched the market trends, helping numerous traders achieve substantial profits. Regardless of your previous investment performance, I believe that with the support of my professional strategies and timely signals, I will surely be able to assist you in breaking through investment bottlenecks and achieving new breakthroughs in the trading field.
In terms of the trading strategy, within the oscillation range of $3,200 to $3,270, it is recommended to adopt the trading idea of selling on rallies. It is relatively prudent to place short positions after the price rebounds to a high level. However, going long at a low position requires caution as there is a certain degree of risk. Currently, we need to focus on the breakthrough of the key level of $3,215. If the gold price effectively breaks below $3,215 today, the support of the round number level of $3,200 may be challenged, and there may be a risk of losing this support level.
I am committed to sharing trading signals every day. Among them, real-time signals will be flexibly pushed according to market dynamics. All the signals sent out last week accurately matched the market trends, helping numerous traders achieve substantial profits. Regardless of your previous investment performance, I believe that with the support of my professional strategies and timely signals, I will surely be able to assist you in breaking through investment bottlenecks and achieving new breakthroughs in the trading field.
Trade active
As we predicted earlier, after the price broke through the key level of $3,215, the market indeed attacked the round-number threshold of $3,200, and the gold price has now effectively fallen below this level. It is worth affirming that our morning reminder of "do not chase short positions" was entirely correct - in the early stage of a trend break, the market is often accompanied by emotional selling, and blindly chasing shorts can easily lead to being trapped in short-term volatility traps. We hope that you followed our strategic guidance and avoided account losses due to impulsive trading. Currently, it is necessary to closely monitor the validity of support below $3,200. If the price continues to decline, consider initiating small short positions, but be sure to implement strict stop-loss management to guard against the risk of oversold rebounds.Trade closed: target reached
The market trend is in line with my strategy. Congratulations to all the traders who followed it.
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.
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.