Friends in the channel know that my strategy has a high accuracy rate, even if it is not 90%, it is at least 80%. We achieved good results with our two short sales of gold yesterday. At the end, I made it clear that if the gold price breaks through the resistance range, it will test new historical highs again. Now the gold price is moving towards this prediction. Let me first explain that although I am bullish, the price is at a high level now, and I will definitely not choose to chase the rise.
On the one hand, there will be 4 data released today, which has high uncertainty, and the market is very sensitive to data after the bombardment of data in the previous few days. Once the data does not meet expectations, it will fluctuate greatly.
On the other hand, today is Friday, and it is hard to say that it will not fall by tens of dollars again like the previous Friday.
Therefore, we must respond carefully today, just like I said before, "Don't do uncertain market, forced trading is very easy to lose money." This sentence is also for everyone!
From a technical point of view, the Fibonacci retracement 0.5-0.618 line is in the range of 2459-2464, so I think the best place to buy today is here, or even lower. If nothing unexpected happens, I will intervene in this range.
Resistance: above 2476
Support: 2450, 2430
On the one hand, there will be 4 data released today, which has high uncertainty, and the market is very sensitive to data after the bombardment of data in the previous few days. Once the data does not meet expectations, it will fluctuate greatly.
On the other hand, today is Friday, and it is hard to say that it will not fall by tens of dollars again like the previous Friday.
Therefore, we must respond carefully today, just like I said before, "Don't do uncertain market, forced trading is very easy to lose money." This sentence is also for everyone!
From a technical point of view, the Fibonacci retracement 0.5-0.618 line is in the range of 2459-2464, so I think the best place to buy today is here, or even lower. If nothing unexpected happens, I will intervene in this range.
Resistance: above 2476
Support: 2450, 2430
Trade active
Gold has risen rapidly under the impetus of two favorable data, and has now broken through the historical high, reaching a high of around 2498. The bulls were released after the resistance was broken. Looking at the strength of the rise, it is highly likely that the 2500-point integer mark will be broken today. Black Friday is indeed worthy of its reputation. Although it is not a sharp drop, it is a sharp rise. Once you go in the wrong direction, you will stop loss or your account will explode. I will just watch today and not participate.
If you want to get my thoughts on gold as soon as possible, welcome to join my channel
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
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 want to get my thoughts on gold as soon as possible, welcome to join my channel
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
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.