Go long first, then short gold!
Updated
Today is the first trading day after gold fell $100 in a single day. After the sharp drop on Friday, the bearish atmosphere of gold is quite strong. Today, gold rebounded after reaching the position of 2287, and encountered resistance near the position of 2298 several times. Relatively speaking, the rebound strength is weak.
https://www.tradingview.com/x/B6TTgK1h/
In general, gold is consolidating at a low level and is in a volatile repair market. Due to the excessive decline on Friday and the large space, the decline may continue in the short term, but the space is obviously not large. The short-term support of the 2285-2280 area below is still strong. Many people in the market have set their sights on the 2260 area, but I think that at least today, the decline will not continue to this area.
So in today's trading, I actually tend to go long gold on dips, because the current price is already low. Only when it rebounds to a higher or effective resistance level will I consider going short to gain retracement profits.
I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
https://www.tradingview.com/x/B6TTgK1h/
In general, gold is consolidating at a low level and is in a volatile repair market. Due to the excessive decline on Friday and the large space, the decline may continue in the short term, but the space is obviously not large. The short-term support of the 2285-2280 area below is still strong. Many people in the market have set their sights on the 2260 area, but I think that at least today, the decline will not continue to this area.
So in today's trading, I actually tend to go long gold on dips, because the current price is already low. Only when it rebounds to a higher or effective resistance level will I consider going short to gain retracement profits.
I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
Trade active
Gold rebounded as expected in the short term. Our long position in gold near 2292 has hit TP: 2300. Although the profit is not much, it is very rare to maintain profitability in such a weak market.Trade active
We should start thinking about shorting goldTrade active
Short gold above 2308Trade active
Did you short gold after closing your long position like me?Trade active
Gold is just rebounding, and the trend has not reversed, so don't chase the rise of gold, instead you can short goldTrade active
The gold movement is currently rather tangled, with no breakthrough either up or down, and the trend is rather torturous. Manually close the order near the 2302 position to lock in profits in time, and re-participate in the transaction when there is a suitable trading opportunity later!Trade active
The original target was 2295, but gold did not fall below 2300 during the multiple declines, so there was a certain amount of buying funds involved, so we had to manually close the order near 2322 in advance to lock in profits in time. I will participate in the transaction again if I have the chance later!Trade active
Gold rebounded again to around 2306, we can short gold again
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