On Friday, gold did not break through the highs or the bottoms, and maintained the range of 3400 to 3380, which was in line with our expectations. In the analysis layout on Friday, I made it clear that I would short at the pressure of 3400 during the day, and go long at the support near 3380 before and after the US market, with an overall gain of 580pips. The points were accurate and there was no error. It was proven by strength that in this market, as long as you don’t chase orders, it is relatively easy to make some profits. Don’t always think about betting on the breakout of the market. Wait for the breakout before doing anything. Just do well in the present. It's better to miss than to do it wrong. The key is how you choose. Stability comes first.
Gold continued to close positively on the weekly chart this week, and after hitting the bottom at 3368 and rebounding, it rebounded with large volume. It is in the process of gradually touching the upper track of the range. Normally, there is still room above, and the range pressure is at 3450. Therefore, we will continue to maintain a bullish mindset next week. In the daily cycle, it fluctuated and washed out repeatedly on Friday, and finally closed with a negative cross star. In the short term, it will maintain operation in the small range of 3409-3380. In terms of operation, continue to go high and buy low before the range is broken, and follow the trend after the breakthrough; an upward breakthrough can be seen at 3425 and 3450, and a downward breakthrough can be seen at 3365 and 3345. For the specific operation rhythm, pay attention to the real-time notification at the bottom.
Gold continued to close positively on the weekly chart this week, and after hitting the bottom at 3368 and rebounding, it rebounded with large volume. It is in the process of gradually touching the upper track of the range. Normally, there is still room above, and the range pressure is at 3450. Therefore, we will continue to maintain a bullish mindset next week. In the daily cycle, it fluctuated and washed out repeatedly on Friday, and finally closed with a negative cross star. In the short term, it will maintain operation in the small range of 3409-3380. In terms of operation, continue to go high and buy low before the range is broken, and follow the trend after the breakthrough; an upward breakthrough can be seen at 3425 and 3450, and a downward breakthrough can be seen at 3365 and 3345. For the specific operation rhythm, pay attention to the real-time notification at the bottom.
Trade active
This week ended successfully. From August 4th to August 8th, I executed 21 orders in total and gained 2980 pips. The easiest way to win in trading is not to make complicated trades. You think that the more factors you refer to and the more details you pay attention to, the more confident you will be in the trade. You are wrong. This will only confuse your judgment of the trade, which will not only increase the risk of loss, but also may cause you to miss out on profit opportunities. To make trading less complicated, it is very simple. Just fix a trading strategy, focus on the signal you are most confident in, repeat it continuously, and do it to the extreme. Then you will succeed.Trade closed: target reached
Investing is a long-term process, a journey of self-cultivation. You can't get rich quick without being impatient, and wealth doesn't come easily. If you want to be a hunter in the investment forest, you must be patient, otherwise you'll become the prey and be harvested! No amount of talk can compare to a single, tangible profit. Life is full of disappointments, and there's always a huge gap between imagination and reality. Perhaps a word from me can help you break through a problem that's been bothering you for a long time, perhaps a trading idea from me can help you avoid further losses, or perhaps a single attempt will lead you to the right investment direction.
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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.