I reminded everyone last night that if gold holds the 3300 mark, it will consolidate in the 3300-3345 range in the short term. The current gold price basically fluctuates narrowly between 3320-3310. Judging from the daily chart, the short-term upper pressure is at 3330. Only if the daily line stands firmly above 3330, there is a possibility of a rebound upward in the short term. Judging from the hourly chart, gold is still in a downward trend, and the hourly line is blocked near 3321. In the short term, if it cannot break through 3320-3330, gold will continue to fall. You can consider shorting, with the target at 3310-3300. If the European session is still volatile, maintain high shorts and low longs to participate in the cycle.
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My premium privileges are about to expire, and subsequent trading strategies and analysis will be published in the group.
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My VIP members and I have already entered long orders around 3320, as planned, with the SL set at 3309. Although gold has dipped to around 3315 in the short term, resulting in a temporary loss, the ATR data indicates a decrease in selling pressure, indicating continued strong buying momentum, providing some support for gold prices. Although technical indicators also provide some support for the rise of gold, we still need to be cautious in the current market where bulls and bears are fighting back and forth. If the short-term target is difficult to reach 3340-3350, we can consider taking profit near 3335-3338. If gold unexpectedly hits SL due to news in the short term, we will look for a suitable opportunity to enter the trade.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.
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.