Gold's low has been confirmed, and the rise will be unstoppable
Updated
In yesterday's article, I clearly said that you can buy gold boldly when it falls back to the support area of 2642-2630. Although this trend did not come out yesterday, I bought it without hesitation when the gold price fell today, and took profits at 2654. But this does not mean that the gold price has reached its limit. I think as long as the gold price falls back to 2650 later, you can consider buying here, and the high point is definitely not the previous high of 2666.
From yesterday's 1H chart, we can see that 2642 is 0.618. Although the gold price hit 2638 today, the real closing line is still around 2642. Therefore, according to the recent three callback trends, as long as it does not effectively fall below the support of 0.618 in the short term, it can be regarded as a bullish trend.
At the same time, I think the previous high of 2666 is definitely not a short-term high point. This rise is likely to break through here. The first target above can be seen in the range of 2670-2680. If it can stand at 2680, the gold price is likely to test the 2700 integer mark again.
The above is my view on gold today. Recently, my gold trading strategy has maintained a hot state of continuous profit. If you want to copy my trading details, you can contact me
From yesterday's 1H chart, we can see that 2642 is 0.618. Although the gold price hit 2638 today, the real closing line is still around 2642. Therefore, according to the recent three callback trends, as long as it does not effectively fall below the support of 0.618 in the short term, it can be regarded as a bullish trend.
At the same time, I think the previous high of 2666 is definitely not a short-term high point. This rise is likely to break through here. The first target above can be seen in the range of 2670-2680. If it can stand at 2680, the gold price is likely to test the 2700 integer mark again.
The above is my view on gold today. Recently, my gold trading strategy has maintained a hot state of continuous profit. If you want to copy my trading details, you can contact me
Trade active
The bullish direction is determined. You need to grasp and control when to enter. You don’t have to wait until 2650.Trade active
Very good, the gold price rose rapidly again after a brief decline. Looking back, our decision to close the position at 2654 and lock in the profit was correct, and the strategy of waiting for a pullback and buying at 2650 was also correct. All operations have been well verified.Trade active
The gold price has fallen back every time it has risen, but don't worry. I said that 2642 at 0.618 is a very strong support level. As long as it is not broken below, it is bullish. Now the gold price has returned to 2655 again. We just need to firmly maintain our bullish thinkingTrade closed: target reached
The rising gold price market is still very strong, and the current price has reached 2664, which is very close to the previous high of 2666. There must be some resistance to the previous high, and it will take some time to break through here.
I plan to take profits here first, lock in profits, and consider buying again after it falls a little
You can also continue to hold if you are more aggressive
Trade active
The decision to close the order near the previous high and lock in profits is still correct. The gold price has indeed stopped rising here. Although the previous high has been broken, it has not continued to rise. I will not participate today. I will wait for the callback tomorrow to find an opportunity to enter
If you want to get my thoughts on gold as soon as possible, welcome to join my channel
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