Gold experienced a sharp drop in the early Asian session on Monday, hitting a low of 3323 before rebounding slightly. It reached a high of around 3358 in the European session and began to retreat under pressure. I also gave a short-selling strategy based on the views of the early Asian session. Currently, gold continues to fluctuate around the 3330 support level, and a breakout of 3330 is only a matter of time.
Judging from the 1-hour chart, the first upper pressure position is still at 3350-3360. The price has failed to break through this position despite repeated shocks and is under downward pressure at this position. The current support is still focused on the neckline near 3330. The overall main tone of high-altitude participation remains unchanged. In the middle position, please be cautious and wait patiently for key points to enter the market.
Trading strategy:
Short around 3355, and cover shorts on a rebound to 3365-3375. Stop-loss at 3385. Profit range: 3330-3320-3310.
Judging from the 1-hour chart, the first upper pressure position is still at 3350-3360. The price has failed to break through this position despite repeated shocks and is under downward pressure at this position. The current support is still focused on the neckline near 3330. The overall main tone of high-altitude participation remains unchanged. In the middle position, please be cautious and wait patiently for key points to enter the market.
Trading strategy:
Short around 3355, and cover shorts on a rebound to 3365-3375. Stop-loss at 3385. Profit range: 3330-3320-3310.
With accurate market analysis and precise trading signals, I will lead my team to achieve geometrically multiplied profits in the gold market.
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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.
With accurate market analysis and precise trading signals, I will lead my team to achieve geometrically multiplied profits in the gold market.
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.