Gold can be sold near 46 in the short term
Updated
The morning strategy of selling at 2160 has been very profitable. Now I will update my new ideas.
Gold rose again after the opening of the day, and rose strongly to around 65, which also allowed the bulls to perfectly release the energy of the impact, and at the same time washed away the short orders held in the early stage, so the short-term counterattack also directly caused the bulls to lose money. The energy is exhausted. After hitting a new high in early trading, the top position of the long red candle formed by the hourly decline will also be the point where gold continues to sell in the later period and the suppression point for counter-drawing. This position will also remain at 46-47 at present. Nearby, the support below will also be the area near the previous high point of 22-20. The long red candle with long upper lead formed after the high and fall within the day may be a signal for the bulls to reach the top in the short term. It is also possible that a wave of decline will start, and the first target below remains near 00, then gold will be sold near 46-47 in the short term.
gold:sell2145-2150
tp:2140-2135
sl:2155
Note
This wave of decline will basically adjust for a period of time in the short term. There is no market that can only rise but not fall. Only reasonable corrections during the rise can make the trend more stable.Note
At present, the short-term moving average group of the 1-hour period has changed from a divergent state to a contraction state, and has penetrated into the long-term moving average group. In the future, we need to pay attention to whether the market is in a secondary retracement or a reversal breakthrough.
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.