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Gold Spot / U.S. Dollar
Short

3/29 Gold Trading Strategy

By EagleEyeStrategy
Updated
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After forming a head and shoulders pattern, gold dropped to around 1935 and then rebounded to above 2000 to form a double top. Subsequently, the price fell again to around 1945 before rebounding.

Yesterday, the price rallied to the range of 1969-1975 before succumbing to selling pressure. If viewed from a macro perspective, this pattern resembles a double top, which encompasses both a head and shoulders pattern and a double top.

Should the market fail to break through the range of 1975-1988, this double top pattern will be confirmed, and the price will undoubtedly fall below 1900.

The recommended trading strategy is to focus on shorting, while keeping an eye on support and resistance levels, and developing more detailed trading plans accordingly.


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XAUUSDXAUUSD
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Short gold, TP1954-1950
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EagleEyeStrategy

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