In the process of gold rising, the band shorts gold
Updated
After the release of the U.S. CPI data, gold rose by nearly $15 in the short-term and then fell back. So far, gold has reached a high near 1958.
Gold is currently suppressed on the weekly line, and the suppression point of the upper moving average is at 1955-56. As long as the daily line closes below 1955, the market outlook will inevitably continue to pull back. Conversely, if the daily line closes above 1956, then it will continue to test the suppression point near 1965.
https://www.tradingview.com/x/6eFMOnKo/
Therefore, above 1950, I definitely do not recommend that you continue to chase long gold. At present, the position below 1949 is very important in the short term. If it falls below the 1949 position on Thursday, then gold may continue to fall to the 1938-37 area, followed by the 1930-27 area.
Therefore, if you continue to trade gold at present, I do not recommend chasing long gold directly. On the contrary, you can enter the market to short gold at 1956-58. The first target below is 1949, followed by the 1940-37 range.
For more trading signals and trading plans, you can follow the bottom of the article to view the details!
Gold is currently suppressed on the weekly line, and the suppression point of the upper moving average is at 1955-56. As long as the daily line closes below 1955, the market outlook will inevitably continue to pull back. Conversely, if the daily line closes above 1956, then it will continue to test the suppression point near 1965.
https://www.tradingview.com/x/6eFMOnKo/
Therefore, above 1950, I definitely do not recommend that you continue to chase long gold. At present, the position below 1949 is very important in the short term. If it falls below the 1949 position on Thursday, then gold may continue to fall to the 1938-37 area, followed by the 1930-27 area.
Therefore, if you continue to trade gold at present, I do not recommend chasing long gold directly. On the contrary, you can enter the market to short gold at 1956-58. The first target below is 1949, followed by the 1940-37 range.
For more trading signals and trading plans, you can follow the bottom of the article to view the details!
Trade active
It is not suitable to go long directly at this position, as gold may fall back in the short term, so we can properly short gold at this positionTrade active
Continue to short gold around 1958Trade active
Continue to hold short positions in gold first, and wait patiently for gold to fall back
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