After a week of tug-of-war between bulls and bears, bullish forces have clearly outmatched bearish ones. Currently, after reaching a new high, gold prices have stabilized at the level of 2692.
The ongoing geopolitical tensions show a certain degree of persistence. As a highly sought-after safe-haven asset, the rise in gold prices is merely a matter of time.
After several hours of sideways consolidation, the gold market presents a new trading opportunity. Buying now is akin to picking up money; you just need to bend down.
Recommended buying levels for gold are between 2690 and 2685, with a take profit target above 2703 and a stop loss at 2675.
Investors interested in trading gold may find this information helpful.
Note
After waking up, I found that the order had stopped profit. No wonder I slept so damn well yesterday.Trade active
Who is the fast trading strategy suitable for?, those who continue to lose money, want to expand profits, beginners, those with a bad mentality, those who are hesitant in trading, and those who are unclear about trading operations. If you are also like this, then don't hesitate. The time to follow is now. Now is the best time to trade.
Trade closed: target reached
Overnight, the gold price reached my take-profit target of 2706. Some members enjoyed solid profits and just informed me about it. They mentioned they slept really well last night. They were curious about the market movements, and I told them there was no need to be; I knew the market would hit my target.So, after the market opened, I advised them to buy at a lower price. Initially, the plan was to buy below 2690, but the bullish momentum was too strong. I decided to notify them to enter the market earlier. We made significant purchases around the 2693 level, and as a result, when I woke up, the orders hit their take-profit targets, yielding good returns.
Note
Pay close attention to the trend of the New York market. In the case of such a strong bullish trend, if you want to achieve a very low decline, you need a heavy news that is bearish for gold to stimulate the market.
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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.
Related publications
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.