Up to now, the 1 long and 1 short position has earned a total profit of 400pips. First, I clearly positioned myself in the 3400 area for a short position. As expected, gold fell back under pressure, hitting a low near 3391. However, the decline lacked continuity, and after rebounding, it hit a stop-loss at 3395, exiting the position with a small profit-taking stop. I managed my risk and exited the position with a small profit-taking stop, earning 50 pips on each trade. I then re-introduced the long position strategy in the 3385-3380 area. As expected, gold fell to the target area and rebounded strongly, smoothly rising to the 3400 target. Both trades yielded a profit of 350 pips, a perfect execution of my plan. At a certain level in trading, technology is merely a tool; the true determinants of success or failure are mindset and execution. In this market where most people are destined to lose money, a reliable trading system is essential, but even more crucial is absolute execution. Ultimately, we trade not price, but conviction. We trade 2-5 trades daily, with a high win rate and high execution. We provide transparent profit reports daily. We maintain a steady pace and avoid blindly chasing orders. We share our strategies only occasionally, so please monitor the bottom of the market for specific entry tips and analysis of trading strategies. Choice is more important than effort. Only by identifying the direction can you make continuous profits.
In the short term, gold prices continued their upward trend in the previous trading day, relying on the support levels of 3370-3375. Gold prices finally broke through the 3400 mark, closing with a medium-sized bullish candlestick on the daily chart. Today's gold trend saw a rapid rise followed by a decline. This is particularly important to note: a surge often signals negative trends, a market principle we have repeatedly emphasized. Even if such a surge and decline doesn't directly trigger a decline, it will limit subsequent price gains. Therefore, it's not advisable to rush into the market. Even if considering a long position, wait for a sufficient correction before making a decision. The key support area below is 3385-3370, with 3370 being the intraday dividing line between long and short positions. If the upward trend continues, the correction should not fall below the previous low support level of 3370. If this support level is effectively broken, the upward trend structure will be disrupted, and a timely adjustment of the position is necessary.
The current market is still experiencing a large-scale, cyclical, and volatile pattern, rather than a completely unilateral trend. The reason for maintaining a long position this week is that after stabilizing at the 3268 support level, the market entered a period of relatively strong volatility. The mid-term bullish trend following the release of the non-farm payroll data failed to develop into a long-term bullish breakout. The upward trend was accompanied by periodic pullbacks, indicating an overall upward trend rather than a strong, one-sided market. Therefore, we maintain a bullish outlook, but we must not be blindly optimistic in our operations!
Gold Trading Strategy: We recommend buying gold in batches around 3385-3370, with a target of 3400-3410.
In the short term, gold prices continued their upward trend in the previous trading day, relying on the support levels of 3370-3375. Gold prices finally broke through the 3400 mark, closing with a medium-sized bullish candlestick on the daily chart. Today's gold trend saw a rapid rise followed by a decline. This is particularly important to note: a surge often signals negative trends, a market principle we have repeatedly emphasized. Even if such a surge and decline doesn't directly trigger a decline, it will limit subsequent price gains. Therefore, it's not advisable to rush into the market. Even if considering a long position, wait for a sufficient correction before making a decision. The key support area below is 3385-3370, with 3370 being the intraday dividing line between long and short positions. If the upward trend continues, the correction should not fall below the previous low support level of 3370. If this support level is effectively broken, the upward trend structure will be disrupted, and a timely adjustment of the position is necessary.
The current market is still experiencing a large-scale, cyclical, and volatile pattern, rather than a completely unilateral trend. The reason for maintaining a long position this week is that after stabilizing at the 3268 support level, the market entered a period of relatively strong volatility. The mid-term bullish trend following the release of the non-farm payroll data failed to develop into a long-term bullish breakout. The upward trend was accompanied by periodic pullbacks, indicating an overall upward trend rather than a strong, one-sided market. Therefore, we maintain a bullish outlook, but we must not be blindly optimistic in our operations!
Gold Trading Strategy: We recommend buying gold in batches around 3385-3370, with a target of 3400-3410.
Trade active
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.Trade closed: target reached
As predicted in the trading plan, gold fell to around 3380 before quickly rebounding, accurately triggering the long position strategy and successfully entering a profitable phase. Market trends are highly consistent with our predictions, and the trend remains clear, validating our accurate grasp of market rhythm. Trading isn't a game of emotions, but rather a reflection of logic and discipline. The market always belongs to those who plan ahead, not gamblers chasing ups and downs. With the current clear market rhythm, conservative traders are advised to gradually reduce their positions and lock in profits, ensuring they keep their gains. Only by adhering to planned trading and controlling emotional fluctuations can one truly maintain an invincible position in the 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.
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.