Gold hit the intraday low of around 3296 and then began to rebound. We can see that the rebound of gold is not strong, but it is relatively sustained, so gold has rebounded to around 3335. To be honest, I did short gold according to my plan and still hold a short position.
Although gold has rebounded to around 3330, I don’t think my short gold trade has failed. As I said in the previous point of view, gold is facing technical suppression of the head and shoulders in the short term, which will suppress the rebound limit within the 3335-3340 area. So before gold stabilizes at 3340, I think the gold shorts still have the upper hand. So as long as gold stays below 3340, I think the gold rebound is a good opportunity to short gold.
At present, gold is facing the resistance area of 3335-3340 and begins to show signs of stagflation. After consuming a certain amount of bullish momentum, the gold shorts may counterattack strongly again and stimulate gold to fall rapidly. Therefore, before gold breaks upward through the 3335-3345 area, we can still consider shorting gold, or continue to hold a short position in gold!
Although gold has rebounded to around 3330, I don’t think my short gold trade has failed. As I said in the previous point of view, gold is facing technical suppression of the head and shoulders in the short term, which will suppress the rebound limit within the 3335-3340 area. So before gold stabilizes at 3340, I think the gold shorts still have the upper hand. So as long as gold stays below 3340, I think the gold rebound is a good opportunity to short gold.
At present, gold is facing the resistance area of 3335-3340 and begins to show signs of stagflation. After consuming a certain amount of bullish momentum, the gold shorts may counterattack strongly again and stimulate gold to fall rapidly. Therefore, before gold breaks upward through the 3335-3345 area, we can still consider shorting gold, or continue to hold a short position in gold!
Trade closed: stop reached
Good morning, bros! Today's news is not good news, because our additional short position at 3330 failed again!Yesterday, gold hit a low of 3296 and then began to rebound. Although the performance during the rebound was not strong, the sustained performance was acceptable. So we started to short gold at around 3320 according to the original trading plan. When it continued to rebound to around 3330, we added positions again to continue shorting gold and set SL: 3340.5. However, there was no obvious sign of gold falling again after the rebound, and it was very close to SL: 3340.5 overnight. But fortunately, it fell back to around 3336 before the market closed.
Because gold fluctuated around 3336 before the market closed, and there was no obvious sign of a decline. Considering that we entered the short trade at 3320 too early, the entry point was not advantageous, and we were worried that gold would rise in today's Asian session, so we closed the first short trade near 3336 before the gold market closed; but kept the short position near 3330 and strictly kept SL: 3340.5. We thought that even if gold only retreated to around 3320, we could recover the loss of the first transaction and maintain the overall profit and loss balance. Unexpectedly, gold jumped up directly after the market opened and hit SL: 3340.5, causing our second short position near 3330 to be eliminated again with a loss!
Detailed strategies, accurate signals, considerable profits, Telegram group：t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
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.
Detailed strategies, accurate signals, considerable profits, Telegram group：t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
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.