XAUUSD: Sell Around Resistance
Last week, I repeatedly emphasized that gold would rebound and recommended focusing on long trades. Those who followed my strategy have likely secured substantial profits this time.
Additionally, I clearly pointed out yesterday that gold would retest the support around 2580, presenting a new buying opportunity, with resistance at 2608–2614. This analysis has been validated by the market movement.
Currently, gold prices have risen to around 2640, entering a new resistance zone. Today’s trading strategy will focus on selling near the resistance area to capture potential pullback opportunities.
Additionally, I clearly pointed out yesterday that gold would retest the support around 2580, presenting a new buying opportunity, with resistance at 2608–2614. This analysis has been validated by the market movement.
Currently, gold prices have risen to around 2640, entering a new resistance zone. Today’s trading strategy will focus on selling near the resistance area to capture potential pullback opportunities.
Trade active
Short selling has already obtained a good profit. For the next transaction, we need to pay special attention to the resistance area above 2640. If the price rises sharply before the gap is filled (2652-2668), we must not be greedy anymore. The trading direction needs to be adjusted to focus on selling.
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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.
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.