I have started to try to short gold, what about you?
Updated
Dear friends, both the technical and fundamental picture of gold are bullish for gold, supported by various factors including increased demand for gold, expectations of a rate cut by the Federal Reserve and a weaker dollar. Last week, gold reached its highest level near 2195. How should the rise and fall of gold be promoted next? Although there is currently strong bullish sentiment on gold, I do not think it is appropriate to be overly bullish on gold in the short term.
https://www.tradingview.com/x/gYuMFrR4/
For the current gold market, as long as gold remains above the 2155-2150 area, gold is still biased towards a bullish pattern, so there will not be a large decline in the short term. However, gold is gradually showing signs of peaking, and the energy of bulls is relatively weak. From a technical point of view, gold should see a correction after a strong rise. Although no decent correction has been seen so far, it is It is because of the trap caused by the market's positive bullish sentiment, so we should be more cautious. I think whether gold continues its rise or starts a correction, before that, gold will definitely test the support strength of the 2165-2160 area again, and even test the support strength of the long-short dividing line in the 2155-2150 area. Therefore, gold will definitely have a correction rhythm, which is why I insist on shorting gold at high levels in the short term!
Currently, I still maintain short gold positions at 2180 and 2184. Although the overall profit and loss is currently flat, as I said, patience is often the best quality in trading.I believe that I will definitely get satisfactory profits from short gold trading. I have now participated in the market trading rhythm of shorting gold, what about you?
I share detailed trading ideas and trading strategies every day. While we enjoy the trading process, profit is king. I hope that with my help, we can all make continuous profits in the market! And you can follow the channel at the bottom of the article to get detailed trading signals, trading lots, and TP and SL.
https://www.tradingview.com/x/gYuMFrR4/
For the current gold market, as long as gold remains above the 2155-2150 area, gold is still biased towards a bullish pattern, so there will not be a large decline in the short term. However, gold is gradually showing signs of peaking, and the energy of bulls is relatively weak. From a technical point of view, gold should see a correction after a strong rise. Although no decent correction has been seen so far, it is It is because of the trap caused by the market's positive bullish sentiment, so we should be more cautious. I think whether gold continues its rise or starts a correction, before that, gold will definitely test the support strength of the 2165-2160 area again, and even test the support strength of the long-short dividing line in the 2155-2150 area. Therefore, gold will definitely have a correction rhythm, which is why I insist on shorting gold at high levels in the short term!
Currently, I still maintain short gold positions at 2180 and 2184. Although the overall profit and loss is currently flat, as I said, patience is often the best quality in trading.I believe that I will definitely get satisfactory profits from short gold trading. I have now participated in the market trading rhythm of shorting gold, what about you?
I share detailed trading ideas and trading strategies every day. While we enjoy the trading process, profit is king. I hope that with my help, we can all make continuous profits in the market! And you can follow the channel at the bottom of the article to get detailed trading signals, trading lots, and TP and SL.
Trade active
You can consider shorting gold in the 2183-2185 areaTrade active
Gold is falling as expected, let us wait patiently
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.