Gold builds a double top structure, short gold!
Updated
Dear friends, due to the escalation of the geopolitical conflict in the Middle East due to the Israeli air attack on the Iranian consulate, gold rose for a time and once again set a new historical high. The current maximum has reached around 2267.
Judging from the current trend of gold, the position of 2267 is very extreme, because from a technical perspective, this position should be a stage high point, but stimulated by the news, there is still a probability of refreshing this position. However, one thing that is certain is that I will definitely not chase long gold above 2260, even if gold really continues to rise. Because 2267 is actually a dangerous zone for me.
From the perspective of gold structure, gold may reach the top in the 2265-2268 area many times to form a top structure, and then gold is likely to start falling from there. From a structural point of view, I predict that the highest position of the top of gold can reach around 2278, almost close to 2280.
So in terms of trading, first of all, I do not recommend chasing long gold above 2260; secondly, you can try to short gold in small batches in the 2263-2265 area. If it remains relatively stable, you can also wait for gold to rise to the 2275-2280 area before shorting gold. .
I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Judging from the current trend of gold, the position of 2267 is very extreme, because from a technical perspective, this position should be a stage high point, but stimulated by the news, there is still a probability of refreshing this position. However, one thing that is certain is that I will definitely not chase long gold above 2260, even if gold really continues to rise. Because 2267 is actually a dangerous zone for me.
From the perspective of gold structure, gold may reach the top in the 2265-2268 area many times to form a top structure, and then gold is likely to start falling from there. From a structural point of view, I predict that the highest position of the top of gold can reach around 2278, almost close to 2280.
So in terms of trading, first of all, I do not recommend chasing long gold above 2260; secondly, you can try to short gold in small batches in the 2263-2265 area. If it remains relatively stable, you can also wait for gold to rise to the 2275-2280 area before shorting gold. .
I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Trade active
From the perspective of gold structure, gold may reach the top in the 2265-2268 area many times to form a top structure, and then gold is likely to start falling from there. From a structural point of view, I predict that the highest position of the top of gold can reach around 2278, almost close to 2280.Trade active
The rising momentum of gold has slowed down, which is more conducive to the short-term energy driving gold's correctionTrade active
The short-term support below gold is at the 2242-2240 area.Trade active
Gold rebounded again in the short term to around 2273, which is very close to the 2275-2280 area I expected. Then stable friends can also start to consider shorting gold.Trade active
Gold hit its highest level near 2277, which happened to hit the 2275-2280 area I expected. Then we can short gold.Trade active
If you have shorted gold in the 2275-2280 area in batches, we can first set the TP at 2255Trade active
Gold just hit its lowest level near 2251, perfectly hitting TP2255Trade active
There were four gold transactions today, one of which was a short gold order at 2258, because at that time gold only fell back below 2254 and did not touch TP2236. Later, gold rebounded and touched 2266SL. So a loss was made on this transaction.Then I shorted gold near the 2265, 2273 and 2276 positions, and set TP: 2255, and all of them have been profited so far. Overall, a very good profit was achieved. If you follow my trading signals like me, then I believe everyone’s profits will be very good today!
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.