Gold short-term technical trading strategy
Updated
https://www.tradingview.com/x/gG4Ur0wT/
Friends, gold has plummeted recently, and opportunities and challenges coexist. Are you ready to welcome your victory?
Spot gold suddenly plunged nearly 40 US dollars in the short term, and the gold price just hit a low of 2295.44 US dollars.
What happened yesterday was that this important factor that was good for gold prices disappeared.
Tehran has played down Israeli drone strikes in retaliation against Iran, a move that appears aimed at avoiding an escalation in the region. Global risk sentiment was boosted by signs that the conflict between Iran and Israel would not worsen.
This has eased investors' concerns about conflicts in the Middle East, prompting them to scale back safe-haven trades and instead favor riskier assets such as stocks.
Looking at the daily chart of gold, the price of gold has fallen sharply, which may start a more severe corrective decline. Technical indicators are turning firmly to the downside.
Gold prices fell below the key Fibonacci support level at $2,326.56, which is the 23.6% Fibonacci retracement of the rise from $1,984.20 to $2,431.43.
In addition, gold prices have also fallen below support near $2,310, which will push gold prices down to the next Fibonacci support level of $2,260.70.
Therefore, in short-term trading, my suggestion is to short-sell at a high price after rebounding during the decline!
Enter short position near $2320.
TP: USD 2295-2390
SL: USD 2330-2335
If you encounter difficulties, you can seek my help. I will share trading strategies and trading ideas every day.
Friends, gold has plummeted recently, and opportunities and challenges coexist. Are you ready to welcome your victory?
Spot gold suddenly plunged nearly 40 US dollars in the short term, and the gold price just hit a low of 2295.44 US dollars.
What happened yesterday was that this important factor that was good for gold prices disappeared.
Tehran has played down Israeli drone strikes in retaliation against Iran, a move that appears aimed at avoiding an escalation in the region. Global risk sentiment was boosted by signs that the conflict between Iran and Israel would not worsen.
This has eased investors' concerns about conflicts in the Middle East, prompting them to scale back safe-haven trades and instead favor riskier assets such as stocks.
Looking at the daily chart of gold, the price of gold has fallen sharply, which may start a more severe corrective decline. Technical indicators are turning firmly to the downside.
Gold prices fell below the key Fibonacci support level at $2,326.56, which is the 23.6% Fibonacci retracement of the rise from $1,984.20 to $2,431.43.
In addition, gold prices have also fallen below support near $2,310, which will push gold prices down to the next Fibonacci support level of $2,260.70.
Therefore, in short-term trading, my suggestion is to short-sell at a high price after rebounding during the decline!
Enter short position near $2320.
TP: USD 2295-2390
SL: USD 2330-2335
If you encounter difficulties, you can seek my help. I will share trading strategies and trading ideas every day.
Trade active
Gold rebounds slightlyTrade active
Did you take advantage of my trading advice today?After the rebound, we seized the opportunity to trade, and we still gained something in this transaction.
Trade active
Now the gold price is experiencing another small reboundTrade active
The price of gold is now oscillating around $2,300, and now shows a downward trend, with the next target being $2,290.Trade active
The price of gold has rebounded to a relatively high level and is about to fall backTrade active
The price of gold currently remains near $2,320. We can wait a little longer and fall back to around $2,310.Trade active
Gold prices are now down slightlyTrade active
Trade active
Trade active
Gold is currently in a state of adjustment. We can wait and see for a while, and we can go long gold when it falls to a low point.Trade active
Gold is currently in a slight decline and is about to bottom outTrade active
Gold has fallen from the highest point of 2337 US dollars to 2315 US dollars. There is still room for decline. Radicals can go long here.
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