Gold has risen sharply due to the violent geopolitical conflicts and the surge in risk aversion. It once reached around 3445, but in the process of falling back, it only touched 3408 and rebounded again, stabilizing above 3400. It is obvious that due to the changes in fundamentals, the sentiment of gold bulls is high; although the upward momentum of gold near 3440 has weakened, there is no clear signal of peaking yet!
For short-term trading, it is relatively difficult to participate at present. To be honest, I naturally don’t want to chase gold at a high level; but there are no more signals to support me to short gold for the time being. However, with the rebound of gold, the current short-term support below is in the 3425-3415 area, followed by the psychological support of the 3400 integer mark; and the short-term resistance above is in the 3455-3465 area, followed by the area near 3480.
Compared with the profit and loss ratio, I prefer shorting gold for short-term trading, because gold has performed relatively strongly in the London market. Logically, gold will have the inertia to rise in the New York market, so I think gold may rise and then fall in the New York market, so my current plan is to try shorting gold starting in the 3455-3465 area.
Because the changes in gold's fundamentals are more extreme and complex, you must set up SL when participating in transactions.
For short-term trading, it is relatively difficult to participate at present. To be honest, I naturally don’t want to chase gold at a high level; but there are no more signals to support me to short gold for the time being. However, with the rebound of gold, the current short-term support below is in the 3425-3415 area, followed by the psychological support of the 3400 integer mark; and the short-term resistance above is in the 3455-3465 area, followed by the area near 3480.
Compared with the profit and loss ratio, I prefer shorting gold for short-term trading, because gold has performed relatively strongly in the London market. Logically, gold will have the inertia to rise in the New York market, so I think gold may rise and then fall in the New York market, so my current plan is to try shorting gold starting in the 3455-3465 area.
Because the changes in gold's fundamentals are more extreme and complex, you must set up SL when participating in transactions.
Trade active
The decline of gold does not continue, the buying support below is strong, and the enthusiasm for long positions is strong. Gold retreats first, and we can consider taking the opportunity to go long on gold.Trade closed: target reached
Bros, I originally expected to short gold when it rose and touched around 3455, and formulated corresponding trading signals in the channels. Unfortunately, the highest price of gold in the New York market has only touched around 3446, and our short trading plan has not been activated, so that our short trading plan has been stranded; gold fell first, but because the buying support below was strong and the bullish sentiment was high, after formulating the short trading plan, I immediately followed the 3425-3415 support area mentioned above and chose to go long on gold around 3420; gold happened to touch around 3419 during the retracement, and our gold long trading plan was activated, and the original TP was set: 3440. But because today is Friday, and due to the influence of news, the gold market is still full of variables, so in order to lock in profits in time, I have notified all to close orders near 3330.
Traders who do not aim at profit are not qualified traders. Maintain a trading win rate of more than 85% and pursue the annual profit target: more than $600K! Witness Free Telegram Group: t.me/Steffen_S68
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Traders who do not aim at profit are not qualified traders. Maintain a trading win rate of more than 85% and pursue the annual profit target: more than $600K! Witness Free Telegram Group: t.me/Steffen_S68
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.