I have some personal matters today, so I don't have time to update you with detailed trading strategies. I will just briefly talk about it.
At present, there is a risk of a correction in gold. If it cannot continue to break the previous high, I will not continue to be bullish. 2500 is a key point. If it breaks, it may adjust downward by 30-50$, so you need to pay special attention.
The above paragraph is what I said in the channel. Now it seems that my guess has been confirmed. Gold does have the risk of falling. The lowest point of this decline is 2493, but it is not an effective break. Now the price is hovering around 2500 points, and there is indeed support near 2500 points.
Now let's see the break near this support. If there is no break, then we will continue to look at the previous high, and if it breaks down, we will be bearish.
Whether 2500 points can support or break is difficult to predict now, so I will give you a trading plan for your reference
If 2500 points support, we will buy, and the target is near the historical high of 2531
If 2500 points break down, we will sell, and currently it is near the previous high of 2480
At present, there is a risk of a correction in gold. If it cannot continue to break the previous high, I will not continue to be bullish. 2500 is a key point. If it breaks, it may adjust downward by 30-50$, so you need to pay special attention.
The above paragraph is what I said in the channel. Now it seems that my guess has been confirmed. Gold does have the risk of falling. The lowest point of this decline is 2493, but it is not an effective break. Now the price is hovering around 2500 points, and there is indeed support near 2500 points.
Now let's see the break near this support. If there is no break, then we will continue to look at the previous high, and if it breaks down, we will be bearish.
Whether 2500 points can support or break is difficult to predict now, so I will give you a trading plan for your reference
If 2500 points support, we will buy, and the target is near the historical high of 2531
If 2500 points break down, we will sell, and currently it is near the previous high of 2480
Trade active
The hourly line shows signs of forming a golden cross. Now it seems that the support of 2500 is very strong, and the possibility of a short-term break is small. You can consider buying near this level.Trade active
The price of gold is rising well, and there is a possibility of testing historical highs again. To be on the safe side, you can consider profit-taking at 2520.Trade closed manually
Now it seems that yesterday's notice to take profits near 2520 was quite timely, and the gold price started to pull back again near 2520.
If you want to get my thoughts on gold as soon as possible, welcome to join my channel
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
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.
If you want to get my thoughts on gold as soon as possible, welcome to join my channel
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
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.