There was not much profit in gold trading today, only a profit of $5900 was made. Because ADP data will intensify short-term fluctuations in the gold market, for the safety of account funds, I basically set a very small TP, which limits my profits to a certain extent. But my trading principle is that the most important prerequisite is to protect the safety of the account principal, and the second is to strive for profits. https://www.tradingview.com/x/gJ7QvKQx/
We can see from the current gold trend that gold fell back again and tested support under the negative influence of ADP data. In the process, it did not fall below the 2265 position, so testing the short-term 2265-2260 area support is effective. Moreover, as gold fell back, funds waiting for long positions on the sidelines gradually entered the market, providing important support for pushing up gold prices.
According to the current gold trend and market sentiment, gold still maintains a complete upward trend, and if gold's correction is discontinuous, gold will continue its upward trend. For now, I think gold will also test the 2290-2300 area. So in terms of trading, we can first consider going long gold after waiting for gold to fall back, first focusing on the support of the 2268-2266 area below; secondly, when gold touches the 2290-2300 area again, we can try to short gold again!
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If gold falls first, we will first consider going long gold; if gold continues to rise to the 2290-2300 area, we will first consider short-term shorting gold.
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Gold's decline is discontinuous. 2288 may not be a phased high. Gold may even try to hit the 2300 position.
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Gold is currently impacting the 2290-2300 area. We can now try to short gold as planned.
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I'm shorting gold. Are you shorting gold?
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Let us wait patiently for gold to fall back in the short term
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Gold is currently facing psychological pressure in the 2295-2300 area. It should be difficult for gold to break through the 2300 resistance in a short time.
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Gold is facing market psychological pressure in the 2300 area. In the short term, there should be a correction when gold touches this area, so we can short gold in the 2295-2298 area.
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Do you think gold will pull back after hitting around 2300?
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