XAUUSD:How should gold be traded at 2350?
Updated
https://www.tradingview.com/x/I1DClQJY/
Under the influence of the news and people's concerns about the Federal Reserve's interest rate cut, gold rose crazily and reached the psychological level of 2350. At this position, it is impossible for me to conduct long transactions.
I prefer to go short. Before it falls below 2300, my trading idea will remain high and short, and long orders will only be considered near the support.
Although the current market can no longer be traded purely based on technical analysis, and 2350 is the psychological limit of many traders for gold, we cannot rule out that the market will go in the opposite direction.
But it's a big risk, so I wouldn't do it.
The trading philosophy I have always adhered to is to make profits while the risks are controllable. This is also one of the main reasons for my continued profitability.
Therefore, at a position higher than 2348, I will continue to short in batches, targeting 2327-2296.
Under the influence of the news and people's concerns about the Federal Reserve's interest rate cut, gold rose crazily and reached the psychological level of 2350. At this position, it is impossible for me to conduct long transactions.
I prefer to go short. Before it falls below 2300, my trading idea will remain high and short, and long orders will only be considered near the support.
Although the current market can no longer be traded purely based on technical analysis, and 2350 is the psychological limit of many traders for gold, we cannot rule out that the market will go in the opposite direction.
But it's a big risk, so I wouldn't do it.
The trading philosophy I have always adhered to is to make profits while the risks are controllable. This is also one of the main reasons for my continued profitability.
Therefore, at a position higher than 2348, I will continue to short in batches, targeting 2327-2296.
Trade active
It’s near the support, continue shorting on the reboundTrade active
The rebound resistance is 2333-2338. If there is no breakthrough, continue to short.
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