CPI data will guide the direction of gold, long or short gold?
Updated
Although the bullish potential of gold is strong today, my trading signal of shorting gold at the 1938-40 position also captures short-term profits very well.
Now I am not trading gold, because gold is currently fluctuating back and forth between 1930-33, and there is not much profit margin, so I am not trading for the time being. At present, the gold bulls are strong, and the short-term is suppressed by the 1940 position. Whether gold will continue to rise or encounter obstacles, the CPI data on Wednesday may guide the short-term direction of gold.
https://www.tradingview.com/x/1yt1JmAQ/
As can be seen from the picture, the gold station reached around 1930 and reached around 1940, so 1930 was converted from the previous suppression point to support. According to theory, we should call back 1930 and enter the market again to do long. However, according to the previous trend analysis, I think 1930 is not appropriate, because once gold says that it pulls back and falls below 1930, then gold may go around 1925-22. So I haven't been long gold near the 1930 position for the time being.
Today we have made good profits in gold trading, and the crude oil orders we are holding now have also made certain profits. I believe we will get better returns in the future. For more trading signals and trading plans, you can follow the bottom of the article to view the details!
Now I am not trading gold, because gold is currently fluctuating back and forth between 1930-33, and there is not much profit margin, so I am not trading for the time being. At present, the gold bulls are strong, and the short-term is suppressed by the 1940 position. Whether gold will continue to rise or encounter obstacles, the CPI data on Wednesday may guide the short-term direction of gold.
https://www.tradingview.com/x/1yt1JmAQ/
As can be seen from the picture, the gold station reached around 1930 and reached around 1940, so 1930 was converted from the previous suppression point to support. According to theory, we should call back 1930 and enter the market again to do long. However, according to the previous trend analysis, I think 1930 is not appropriate, because once gold says that it pulls back and falls below 1930, then gold may go around 1925-22. So I haven't been long gold near the 1930 position for the time being.
Today we have made good profits in gold trading, and the crude oil orders we are holding now have also made certain profits. I believe we will get better returns in the future. For more trading signals and trading plans, you can follow the bottom of the article to view the details!
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Do you choose to go long or short gold?Trade active
CPI data will guide the direction of gold, long or short gold?Trade active
Gold is still relatively strong, and we continue to hold short positions temporarily. When gold fails to break through 1960-62 for many times, gold should fall back before it can rise better
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