Gold is still in a downward trend, but from a technical point of view, it has already stopped falling yesterday, and all RSI indicators in each cycle are oversold.So I think there is still room for a rebound today.
Today I bought below 1820 and all made a profit, but today the risk has increased.
However, the technical indicators are still oversold, so the range we choose now should be reduced. Below 1815, we can buy in small batches.
Because it is a downtrend, it is necessary to strictly stop loss.
Now the space for gold is getting smaller and smaller. If you have very little funds, you can wait for gold to choose the direction before trading.
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Yesterday's strategy is still profitable todayNote
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If you reach above 1875 today, you can try to place a short order, or you start near 1865 and get ready to gradually increase your position.Note
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Pay attention to the resistance level of 1875-1880Note
You can sell in batches of small positions above 1880Note
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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.