Gold has maintained a volatile pattern recently. As the US market is closed today for Independence Day, the market volatility is expected to be limited, but the volatile market will continue, but the volatility range may change. Yesterday's gold price fell mainly due to the news, and this decline usually does not last too long. From a technical point of view, gold prices are supported near 3310-3300, which is the key support level today. It is worth noting that on Wednesday, gold prices were under pressure in the 3340-3350 area, and on Thursday, prices formed support in this range, indicating that the area is forming a top-bottom conversion. Therefore, 3340-3350 has become an important pressure level today. It is expected to fluctuate in the 3300-3340/3350 range during the day. The impact of news on gold prices is usually short-term. When the fundamentals and technical directions are consistent, price fluctuations will be more obvious. When the two are inconsistent, price fluctuations will weaken, but will not change the technical trend. The rebound pattern established at the beginning of the week is still valid. After a short-term shock, gold prices are expected to re-stand above 3345 and continue to maintain the rebound trend.
Trade active
The overall strategic thinking has been accurately implemented recently, the market situation is highly consistent with the forecast, and the execution is profitable. Congratulations to all brothers, strictly follow the trading plan and reap ideal returns at the same time. If you can persist, you will stand out, and if you can't persist, you will be eliminated. The market is never short of opportunities, but those who are not firm will always be eliminated.Since we have come to the market, we must have the courage to fight the market. Cowardice will only make us retreat further. Only by moving forward bravely can we get what we want. Trading is tortuous and not so smooth. I think many people see through the beauty outside, but find out why the risks are always so great? Because they don't see the reality clearly! We can't change the risks of the market, but we can control the risks. Since I entered this market, I have always kept my original intention. Only by controlling the risks can we make profits, but as long as we can seriously grasp the opportunities and adhere to the correct trading logic, we can quickly turn losses into profits. Without a perfect system, once is a fluke, twice is also a fluke, and in the end, we will only face losses!
Trade closed: target reached
After the non-agricultural data, gold fell into range fluctuations, and rebounded strongly in the early trading to touch the 3345 line, which is exactly the 61.8% golden ratio of the 3365-3311 structure. Today is the Independence Day of the United States. It is expected that the market volatility will be limited, and the oscillation rhythm will dominate the trend. The short orders we arranged in advance in the 3340-3345 area have reaped considerable profits. The first target is to focus on the 3333 line. If it breaks through smoothly, it will further look to the 3325-3320 area; if it fails to break down, it is recommended to stop profit in time, lock in the profit, and wait for the next round of opportunities.
I will go all out for every cooperating friend. Once I trust you, I will speak with results. I don't promise huge profits, but steady profits. Many people have done it, and you can do it too.Free Witness Telegram https://Grouphttps://t.me/TP_Daniel1
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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 will go all out for every cooperating friend. Once I trust you, I will speak with results. I don't promise huge profits, but steady profits. Many people have done it, and you can do it too.Free Witness Telegram https://Grouphttps://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.