Dear Traders,
As I clearly mentioned in my previous post, we could short gold in the 2920-2930 resistance zone, and as expected, gold retraced to the target zone I anticipated: 2910-2900. Our short position thus yielded a significant profit.
Currently, gold has bounced off the 2910-2900 support zone and has moved back up to around 2920. However, gold has been repeatedly rejected near 2920 and has not broken higher, confirming that the 2920-2930 zone is providing effective resistance. From a technical perspective, if gold forms a triple top pattern at this level, it could likely experience another downward correction and retest the 2910-2900 support zone.
Therefore, for short-term trading, we can continue to short gold at the 2920-2930 resistance zone.Bros, do you have the courage to short gold with me? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
As I clearly mentioned in my previous post, we could short gold in the 2920-2930 resistance zone, and as expected, gold retraced to the target zone I anticipated: 2910-2900. Our short position thus yielded a significant profit.
Currently, gold has bounced off the 2910-2900 support zone and has moved back up to around 2920. However, gold has been repeatedly rejected near 2920 and has not broken higher, confirming that the 2920-2930 zone is providing effective resistance. From a technical perspective, if gold forms a triple top pattern at this level, it could likely experience another downward correction and retest the 2910-2900 support zone.
Therefore, for short-term trading, we can continue to short gold at the 2920-2930 resistance zone.Bros, do you have the courage to short gold with me? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
Trade active
At present, gold has reached the resistance of 2920-2930 again as expected. If gold cannot break through this area decisively, gold will continue to fall again. We can now short gold based on the resistance of this area. If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
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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.
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.