Due to the insufficient retracement yesterday, we failed to enter the market for two long orders, but our direction judgment was still correct.
After rising to 3058 yesterday, it quickly rose again by nearly $30 during the Asian session today, and the historical high was refreshed to 3086.
I said earlier that as long as the gold price breaks through the resistance of 3030 and 3038, it will enter a bull market, and now it is undoubtedly an absolute bullish trend, so the formulation of trading strategies still needs to follow the trend, so where is the entry point?
From the 1H chart, the Fibonacci retracement of 0.618 for this rise is 3058, which is also the previous high point. If gold is to step on the support below and continue to rise, I think it is likely to be here.
Therefore, if you want to go long today, you must first observe this point. If it cannot fall below, it is the time to buy.
If you still miss opportunities due to insufficient retracement like yesterday, don't be too frustrated.
Because it fluctuates a lot like this, and it pulls back and forth quickly, with an amplitude of 20-30$, I think it’s pretty good if it doesn’t lose money.
I still say the same thing: if you have the opportunity, participate; if you don’t have the opportunity, stay on the sidelines.
After rising to 3058 yesterday, it quickly rose again by nearly $30 during the Asian session today, and the historical high was refreshed to 3086.
I said earlier that as long as the gold price breaks through the resistance of 3030 and 3038, it will enter a bull market, and now it is undoubtedly an absolute bullish trend, so the formulation of trading strategies still needs to follow the trend, so where is the entry point?
From the 1H chart, the Fibonacci retracement of 0.618 for this rise is 3058, which is also the previous high point. If gold is to step on the support below and continue to rise, I think it is likely to be here.
Therefore, if you want to go long today, you must first observe this point. If it cannot fall below, it is the time to buy.
If you still miss opportunities due to insufficient retracement like yesterday, don't be too frustrated.
Because it fluctuates a lot like this, and it pulls back and forth quickly, with an amplitude of 20-30$, I think it’s pretty good if it doesn’t lose money.
I still say the same thing: if you have the opportunity, participate; if you don’t have the opportunity, stay on the sidelines.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
Related publications
Disclaimer
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.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
Related publications
Disclaimer
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.