In the previous article, I reminded everyone to be alert to the risk of callbacks, and led everyone to sell at 3045 and close positions at 3027, with a very good profit margin.
As of now, it is a very correct decision for us to close positions at 3027 in advance to lock in profits. The current price has rebounded to 3042.
However, don’t think that the short position is over. I think 3025 is not the low point, and it is likely to retrace again.
According to the 1H chart, the gold price rebounded to around 3040-3045. We can still rely on resistance to short gold again, with targets at 3030 and 3020.
As of now, it is a very correct decision for us to close positions at 3027 in advance to lock in profits. The current price has rebounded to 3042.
However, don’t think that the short position is over. I think 3025 is not the low point, and it is likely to retrace again.
According to the 1H chart, the gold price rebounded to around 3040-3045. We can still rely on resistance to short gold again, with targets at 3030 and 3020.
Trade active
At present, it seems that there is still resistance in the 3040-3045 range. You can continue to sell here and target 3030.Note
At present, gold is still struggling in the range, but the hourly chart shows an obvious head and shoulders trend, with the head at 3057, the shoulder at 3045, and the neckline at 3022. Once the hourly chart stands below 3022, the market is expected to fall further to the 3000 mark. Only if it falls below the 3000 mark can it fall better!!!Trade closed: target reached
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If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.