✅Gold continued to rise after the CPI data during the US trading period, but gold did not break through strongly. After hitting the resistance level of 2696, it quickly fell back. Our short orders near 2695 have made a profit of more than $15.
✅The 1-hour chart shows that gold fell after hitting a high point. Now a double top structure has been formed in 1 hour. After the rebound, we still continue to short. The market is the current situation. Whatever the current market situation is, we will follow the operation. If gold does not break through in the short term, it is a double top, so there is no need to chase the high position. If the double top of gold is established, then the room for gold to fall will continue to increase. Let's wait and see.
🔴Resistance level:
🔰First resistance: 2696 (double top neckline position)
🔰Second resistance: 2700 (psychological barrier)
🟢Support level:
🔰First support: 2680
🔰Second support: 2665 (important technical support)
✅Trading strategy
🔰Short: Continue to arrange short orders in the 2690-2695 area, looking at the target support levels of 2680 and 2665
🔰Long: If the gold price retreats to the support near 2665, consider light positions to test long orders, and the stop profit target is 2680.
✅The 1-hour chart shows that gold fell after hitting a high point. Now a double top structure has been formed in 1 hour. After the rebound, we still continue to short. The market is the current situation. Whatever the current market situation is, we will follow the operation. If gold does not break through in the short term, it is a double top, so there is no need to chase the high position. If the double top of gold is established, then the room for gold to fall will continue to increase. Let's wait and see.
🔴Resistance level:
🔰First resistance: 2696 (double top neckline position)
🔰Second resistance: 2700 (psychological barrier)
🟢Support level:
🔰First support: 2680
🔰Second support: 2665 (important technical support)
✅Trading strategy
🔰Short: Continue to arrange short orders in the 2690-2695 area, looking at the target support levels of 2680 and 2665
🔰Long: If the gold price retreats to the support near 2665, consider light positions to test long orders, and the stop profit target is 2680.
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.