In yesterday's article, I said that there is a high probability that the fluctuation range of 3000-3030 will be broken, and it will be an upward breakthrough. Now it seems to be true.
Yesterday, we bought the first transaction at a low level and took profit near 3030. When the price retreated to 3015, we bought the second long position again, but the rise was weak during the US trading session. Finally, when it was close to the closing, we took profit and left at 3020. Although I had a hunch that it would continue to rise, it was close to the closing and I didn't want to increase the risk, so I had to take profits in advance.
Today, gold not only broke through the first resistance of 3030 during the Asian session, but also touched the second resistance of 3038. Our goal is 3038. It's a pity that we didn't catch the profit of this wave of rise.
Now it depends on whether 3038 can be successfully broken through. If it breaks through and stands firm on this line, the bullish trend of gold prices will be continued, otherwise it will accumulate downward again.
Today's trading must be cautious. I think the volatility may be relatively large, so the strategy is to wait for the gold price to fall back to 3030. If it does not fall below 3030, we will buy bullishly. If it falls below, we will continue to wait for support below.
If you don’t know where to enter the market, you can come to my group to get accurate trading signals
Yesterday, we bought the first transaction at a low level and took profit near 3030. When the price retreated to 3015, we bought the second long position again, but the rise was weak during the US trading session. Finally, when it was close to the closing, we took profit and left at 3020. Although I had a hunch that it would continue to rise, it was close to the closing and I didn't want to increase the risk, so I had to take profits in advance.
Today, gold not only broke through the first resistance of 3030 during the Asian session, but also touched the second resistance of 3038. Our goal is 3038. It's a pity that we didn't catch the profit of this wave of rise.
Now it depends on whether 3038 can be successfully broken through. If it breaks through and stands firm on this line, the bullish trend of gold prices will be continued, otherwise it will accumulate downward again.
Today's trading must be cautious. I think the volatility may be relatively large, so the strategy is to wait for the gold price to fall back to 3030. If it does not fall below 3030, we will buy bullishly. If it falls below, we will continue to wait for support below.
If you don’t know where to enter the market, you can come to my group to get accurate trading signals
Trade active
Gold did not fall back to 3030, but continued its upward trend, and has now reached the previous high of 3056.I said in today's article analysis that today's volatility will be relatively large, so trading should be cautious. If we have the opportunity today, we will participate, and if we don't have the opportunity, we should not take the risk easily.
I think 3030 is a good position, and I will continue to wait.
Shorting the previous high position is also an option, but gold is currently performing so strongly, and with the current geopolitical situation in the Middle East heating up, it is hard to say that it will not set a new high next.
Therefore, it is also a good choice to continue to wait and see
If there is any new progress or trading opportunities, I will share it with you
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Related publications
Disclaimer
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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.