Gold Bearish Retracement and Pre-Data Positioning
Updated
Yesterday's sharp bearish move in gold resulted in significant pullbacks, and those who followed the strategy have reaped substantial profits. Congratulations to everyone who acted accordingly. For those still on the sidelines, please carefully review my strategy. When the market reaches the anticipated levels, you must act decisively—hesitation only leads to missed profits.
Fundamental Analysis:
Due to ongoing conflict in the Middle East and significant uncertainty surrounding the U.S. elections, gold remains supported by safe-haven demand in the medium to long term, which limits its downside potential. Overall, the big picture for gold still leans towards an upward trend. However, the recent decline is largely driven by the strengthening U.S. dollar and rising U.S. Treasury yields, reflecting positive developments in the U.S. economy. Today's "Initial Jobless Claims for the week ending October 19th" is likely to add bearish pressure on gold. In anticipation of this data, we can initiate short positions before its release.
Technical Analysis:
On the daily chart, the market is showing a clear "avalanche" pattern, with a large bearish candlestick breaking through the previous two days' bullish momentum. Prices have rebounded to a key resistance level around 2740, forming a bearish engulfing pattern at this short-term top. Therefore, the ideal short entry point is around 3738.
Today's Strategy:
Before the data is released, short positions should be initiated around 3738. If the data proves bearish for gold, and prices fall to 2725, we can switch to long positions.
Today's trading setup is somewhat complex. If you're unsure how to execute these trades or need detailed guidance, feel free to reach out to me for personalized support.
Fundamental Analysis:
Due to ongoing conflict in the Middle East and significant uncertainty surrounding the U.S. elections, gold remains supported by safe-haven demand in the medium to long term, which limits its downside potential. Overall, the big picture for gold still leans towards an upward trend. However, the recent decline is largely driven by the strengthening U.S. dollar and rising U.S. Treasury yields, reflecting positive developments in the U.S. economy. Today's "Initial Jobless Claims for the week ending October 19th" is likely to add bearish pressure on gold. In anticipation of this data, we can initiate short positions before its release.
Technical Analysis:
On the daily chart, the market is showing a clear "avalanche" pattern, with a large bearish candlestick breaking through the previous two days' bullish momentum. Prices have rebounded to a key resistance level around 2740, forming a bearish engulfing pattern at this short-term top. Therefore, the ideal short entry point is around 3738.
Today's Strategy:
Before the data is released, short positions should be initiated around 3738. If the data proves bearish for gold, and prices fall to 2725, we can switch to long positions.
Today's trading setup is somewhat complex. If you're unsure how to execute these trades or need detailed guidance, feel free to reach out to me for personalized support.
Trade active
Brothers, please pay attention to the entry point of short orders
Trade active
Brothers, the entry point for short orders has been reached, go in nowTrade active
Brothers who are shorting, please note that the data will be released in fifteen minutes.Trade active
Brothers, the data is bearish for gold, so those who are shorting should hold on to it first, and remember to take profit after the price drops!Trade active
Brothers, gold has fallen, pay attention to control your positionsTrade closed manually
Brothers, we have already taken profits, and now let’s move on to the next trading signal!Trade active
Brothers, the long order at 2725 is still profitable. I wonder if any of you are following suit?
Market trading is not only as sharp as a falcon, but also as delicate as a painting!
Only in this way can we ensure continuous profits!
Telegram Channel Entry:t.me/Hobart1986
Only in this way can we ensure continuous profits!
Telegram Channel Entry:t.me/Hobart1986
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