Bros, the global trade war has disrupted the market rhythm, and Trump has become the key driver. The panic of the trade war and the expectation of the Fed's interest rate cut have formed a double thrust, causing gold to surge to around 3005 today, which is also a new record high.
Although this has caused a lot of trouble for our brothers who hold short positions, we can also help us reasonably control risks by setting a reasonable number of transactions to support us in facing this dilemma.
From the perspective of short-term trading, brothers should not blindly follow the trend to chase the rise, because since the rising market started at 2832, the daily gold line has shown a pattern of three yang and three yin, and gold has stretched to the 3000 mark. In addition, today is Friday and the last day of market trading this week, so traders who hold long positions taken from the bottom will definitely not keep them to allow themselves to bear the risks of the weekend. Then the gold price is expected to usher in a wave of retracement today, and once it comes down, the profit will be very objective, which is why I have been insisting on shorting and continuously adding positions.
Therefore, for intraday operations, we can arrange short selling near the 2985-2990 area, and first look at 2955-2950 below.
Bros, the market conditions will change, but the market trading risks will not change. No one can always accurately grasp the direction of the market unless he is God.
Although this has caused a lot of trouble for our brothers who hold short positions, we can also help us reasonably control risks by setting a reasonable number of transactions to support us in facing this dilemma.
From the perspective of short-term trading, brothers should not blindly follow the trend to chase the rise, because since the rising market started at 2832, the daily gold line has shown a pattern of three yang and three yin, and gold has stretched to the 3000 mark. In addition, today is Friday and the last day of market trading this week, so traders who hold long positions taken from the bottom will definitely not keep them to allow themselves to bear the risks of the weekend. Then the gold price is expected to usher in a wave of retracement today, and once it comes down, the profit will be very objective, which is why I have been insisting on shorting and continuously adding positions.
Therefore, for intraday operations, we can arrange short selling near the 2985-2990 area, and first look at 2955-2950 below.
Bros, the market conditions will change, but the market trading risks will not change. No one can always accurately grasp the direction of the market unless he is God.
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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.