Last Friday, our long trading strategy successfully hit the two target prices of 2940 and 2950. Whether buying from 2930 or 2920, the profit margin is very good. Congratulations again.
From the weekly K-line, gold has risen for the 9th consecutive week. Behind this are tariff concerns that have led to the continuous flow of gold from many places to the United States, the United States' desire to revalue the value of gold reserves, and the weakening of the US dollar.
Last week, gold has been fluctuating at a high level in the range of 2920-2950. From the perspective of the entire trend trajectory, the bulls are still in the dominant position and may hit the historical high of 2955 again in the short term. Today we need to pay attention to whether the resistance range of 2950-2955 can break through and stand firm. If it stands firm, we will look for opportunities to intervene in long orders again, and never rush to chase the rise. If it is not stable, you can short gold near this range, with targets of 2940, 2931. After achieving the target, you can arrange long orders again. Among them, 2932 is more likely because 2932 is the point where the trend line is located.
The operation is as follows:
Sell:2950-2955
TP1:2940
TP2:2932
Buy:2932
TP1:2940
TP2:2955
From the weekly K-line, gold has risen for the 9th consecutive week. Behind this are tariff concerns that have led to the continuous flow of gold from many places to the United States, the United States' desire to revalue the value of gold reserves, and the weakening of the US dollar.
Last week, gold has been fluctuating at a high level in the range of 2920-2950. From the perspective of the entire trend trajectory, the bulls are still in the dominant position and may hit the historical high of 2955 again in the short term. Today we need to pay attention to whether the resistance range of 2950-2955 can break through and stand firm. If it stands firm, we will look for opportunities to intervene in long orders again, and never rush to chase the rise. If it is not stable, you can short gold near this range, with targets of 2940, 2931. After achieving the target, you can arrange long orders again. Among them, 2932 is more likely because 2932 is the point where the trend line is located.
The operation is as follows:
Sell:2950-2955
TP1:2940
TP2:2932
Buy:2932
TP1:2940
TP2:2955
Trade active
Brothers, gold just broke through 2955, but it has not stood firm on this line. Our strategy is to short gold in the 2950-2955 area if it does not stabilize. Now gold has indeed fallen and has fallen to 2940, successfully touching our TP1. Congratulations to those who followed the signal and made money again.
Note
Now it seems that 2940 does have some support, but we should not rush to enter the long position. It is safer to observe whether the gold price will fall back to the trend line near 2932. If the 2932 line gets enough support, we can enter the long position again.Note
As you can see, today's gold trend is basically running in accordance with our prediction. In the case of not standing firm at 2955, short gold first, and set two targets of 2940 and 2932. When the gold price gets support at 2932, go long on gold. Now gold has rebounded again at the 2932 trend line, and the price increase has touched our TP1: 2940. Friends who follow the signal have made money again, and congratulations.Judging from the trend of gold, it still has the momentum to rise, so I think it can continue to hold
Trade closed: target reached
Gold is now stable around 2950. There is some resistance here. It will be difficult to reach TP2: 2955, so I am not going to persist. I will close the position now and lock in the profit first. I will make a new trading plan tomorrow.
In addition, EUR/USD did not fluctuate much today and was still near the entry point, so I also closed the position.
Overall, today's trading was very good, especially for gold. The direction and points of the strategy were very well controlled, so our two trading signals made a lot of money. Congratulations.
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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 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.