Today's trading was very successful, and the grasp of the long and short rhythm was very accurate. Today's trading situation is as follows:
1. Close the short position with an overnight entry price of around 3386 near 3380, with a loss of 60 pips, and the loss amount exceeded $6K;
2. Directly short gold near 3380, manually close the position near 3366, profit 130pips, profit amount exceeded $12K;
3. Long gold near 3356, hit TP: 3372 and end the transaction, profit 160pips, profit amount exceeded $8K;
4. Long gold near 3362, hit TP; 3375 and end the transaction, profit 120pips, profit amount exceeded $6K.
Intraday trading summary: Today, the long and short sides completed a total of 4 transactions, one of which suffered a loss, but the net profit was 350pips, and the profit amount exceeded $20K. For short-term trading, I think I can submit a satisfactory answer to myself today!
How to execute the transaction next? Gold started to pull back from around 3438 and has now reached a low of around 3351, with a retracement of more than 870pips. The retracement space is not small. However, gold has stabilized above 3350 and has started a technical rebound repair, and the upward force is not weak, so gold may have completed the retracement. Under the support of these two technical conditions, gold may regain its upward momentum and hit 3400 again.
At present, the short-term resistance is obvious, located in the area near 3380. Once gold breaks through 3380, gold will inevitably continue to rise and hit 3400 again; but I think as long as gold stabilizes above 3350, it is not difficult to break through the short-term resistance of 3380, so gold will inevitably test the 3400 mark again; and the short-term support below is in the 3365-3355 area. Gold may still retreat to this area first during the rise in order to increase liquidity and accumulate momentum, helping gold to break through 3380 more easily.
So for the next short-term trading, I think it is feasible to go long on gold in the 3365-3355 area, first looking at the target area of 3380-3390, and then 3400.
1. Close the short position with an overnight entry price of around 3386 near 3380, with a loss of 60 pips, and the loss amount exceeded $6K;
2. Directly short gold near 3380, manually close the position near 3366, profit 130pips, profit amount exceeded $12K;
3. Long gold near 3356, hit TP: 3372 and end the transaction, profit 160pips, profit amount exceeded $8K;
4. Long gold near 3362, hit TP; 3375 and end the transaction, profit 120pips, profit amount exceeded $6K.
Intraday trading summary: Today, the long and short sides completed a total of 4 transactions, one of which suffered a loss, but the net profit was 350pips, and the profit amount exceeded $20K. For short-term trading, I think I can submit a satisfactory answer to myself today!
How to execute the transaction next? Gold started to pull back from around 3438 and has now reached a low of around 3351, with a retracement of more than 870pips. The retracement space is not small. However, gold has stabilized above 3350 and has started a technical rebound repair, and the upward force is not weak, so gold may have completed the retracement. Under the support of these two technical conditions, gold may regain its upward momentum and hit 3400 again.
At present, the short-term resistance is obvious, located in the area near 3380. Once gold breaks through 3380, gold will inevitably continue to rise and hit 3400 again; but I think as long as gold stabilizes above 3350, it is not difficult to break through the short-term resistance of 3380, so gold will inevitably test the 3400 mark again; and the short-term support below is in the 3365-3355 area. Gold may still retreat to this area first during the rise in order to increase liquidity and accumulate momentum, helping gold to break through 3380 more easily.
So for the next short-term trading, I think it is feasible to go long on gold in the 3365-3355 area, first looking at the target area of 3380-3390, and then 3400.
Trade active
Today, the long and short sides completed a total of 4 transactions, one of which was a loss, but the net profit was 350 pips, and the profit amount exceeded $20K. For short-term trading, I think I can submit a satisfactory answer to myself today!At present, gold has stabilized above 3350 and has launched a technical rebound repair, and the upward force is not weak, so gold is likely to have completed the retracement. Then, with the support of these two technical conditions, gold may regain its upward momentum and hit 3400 again.
So for the next short-term trading, I think it is feasible to go long on gold in the 3365-3355 area, first looking at the target area of 3380-3390, and then 3400.
Do you think gold will regain its upward momentum? In addition,my TradingView account Premium privilege is about to expire, and I will not be able to continue to update my trading ideas here after it expires. Friends in the channel have made a lot of money by following my trading strategies. Friends who have not joined the channel can join to get the latest trading strategies and escort your trading!
Trade closed: target reached
Dear VIP friends, although gold fell back after encountering resistance at 3380 in the short term, as long as gold stabilizes above 3350, gold still has the conditions to attack upward. Based on this condition, we can still consider going long on gold in the 3360-3350 area as originally planned, looking at the target area: 3370-3380 area.1. Xauusd: @3360-3350 Buy, 5 lots, TP: 3370-3380
Because the upper short-term resistance area is relatively obvious, located in the 3380-3390 area, and the support was not verified again after the retracement to around 3351 yesterday, gold still needs to verify the support again on the technical level, so there may be a need to retrace to the 3365-3355 area again in the short term. If gold rises to the 3380-3390 area before the retracement, we will first consider shorting gold in this area and look at the target area of 3365-3355.
2.Xauusd:@3380-3390 Sell, 5 lots, TP: 3370-3360
For the above trading strategies, the corresponding trading plan will be executed first, depending on which area gold touches first. If gold first touches around 3360-3350, it will be given priority to go long on gold; on the contrary, if gold first touches around 3380-3390, it will be given priority to go short on gold.
In addition,my TradingView account Premium privilege is about to expire, and I will not be able to continue to update my trading ideas here after it expires. Friends in the channel have made a lot of money by following my trading strategies. Friends who have not joined the channel can join to get the latest trading strategies and escort your trading!
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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.
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.