The 1-hour inverted V reversal, the 1-hour moving average of gold also began to show signs of turning. There was no risk aversion news stimulus in the second half of the night, so the daily line could not go up, it was a high shooting star, the high points of the US rebound were successively lower, and the short-term trend of gold has formed a short position. The second rebound of the US market was under pressure and fell again near 3430. Then the US rebound below 3430 continued to be shorted, and the US rebound near 3420 could continue to be shorted. The market is changing rapidly. Since gold can't go up, and it starts to fall, the gold bulls have been declared over in the short term.
On the whole, the short-term operation strategy for gold today is to short on rebounds and go long on pullbacks. The short-term focus on the upper side is the 3420-3430 resistance, and the short-term focus on the lower side is the 3280-3285 support. Friends must keep up with the rhythm.
Short order strategy:
Strategy 1: Short 20% of the gold position in batches when it rebounds to around 3420-3425, stop loss 6 points, target around 3380-3350, break to see 3300 line;
Long order strategy:
Strategy 2: Long 20% of the gold position in batches when it pulls back to around 3285-3290, stop loss 6 points, target around 3325-3350, break to see 3380 line;
On the whole, the short-term operation strategy for gold today is to short on rebounds and go long on pullbacks. The short-term focus on the upper side is the 3420-3430 resistance, and the short-term focus on the lower side is the 3280-3285 support. Friends must keep up with the rhythm.
Short order strategy:
Strategy 1: Short 20% of the gold position in batches when it rebounds to around 3420-3425, stop loss 6 points, target around 3380-3350, break to see 3300 line;
Long order strategy:
Strategy 2: Long 20% of the gold position in batches when it pulls back to around 3285-3290, stop loss 6 points, target around 3325-3350, break to see 3380 line;
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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.
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.