✅There was no direct rise in gold in the early trading, and the overall trend remained volatile. In the absence of major emergencies and key economic data stimulus, it is expected that the volatile trend of gold will continue for a long time. This market environment provides favorable conditions for our future trading strategies.
✅At present, the Christmas holiday is approaching, the market is light, and the short-term market is not expected to fluctuate violently. Therefore, it is necessary to avoid chasing ups and downs in operation to prevent the risk of the market falling into a back-and-forth tug-of-war.
✅It has been clearly pointed out in the early trading analysis that gold is in a short-term volatile pattern. It is recommended to arrange short orders based on the key resistance level of 2632. Gold fell under pressure as expected, verifying the effectiveness of the early trading analysis. The rebound in the US market is still under pressure. After confirming that the resistance of 2632 is effective, continue to operate short orders and harvest profits smoothly.
✅Gold bulls still lack continuous driving force, and the market has failed to form an effective reversal signal. Gold rebounded several times today and fell back after being under pressure at 2633, showing that the short-term is still weak and it is difficult to have a trend reversal. Therefore, continue to maintain the idea of rebounding and shorting in the short term.
✅It is necessary to clarify the difference between rebounding and trend reversal. The current market performance is more of a weak rebound rather than a trend rise. Traders need to recognize this logic and avoid blindly bullish.
✅Trading strategy:
🔰Pay attention to the 2620-2625 resistance zone above. If it rebounds to this range under pressure, you can arrange short orders and target the 2600-2598 support zone.
🔰If it falls below the 2598 support, it is expected to fall further, and the short order target position needs to be adjusted accordingly.
✅Avoid blindly chasing the rise, strictly control risks, and set stop losses reasonably. At the same time, it is necessary to pay close attention to market dynamics and changes in the US market trend, and flexibly adjust trading strategies in combination with key technical positions to ensure stable profits.
Trade active
✅Trading strategy:🎯Strategy 1: Gold Sell 2620-2623, SL6-8$, TP 2610-2605, Breaking position looks to 2600 line
🎯Strategy 2: Gold Buy 2600-2603 , SL6-8$, TP 2610-2620, Breaking position looks to 2625 line
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.
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.