XAUUSD: Today I waited until 2530 before tradingAs can be seen from the figure, my two trend prediction lines were drawn very accurately. It is a pity that we were in the 2500-2505 buying range, and the two buying orders were all profit-taking before the market closed. The best performance of these two rises was in the Asian session of the next day. During that period, I was still sleeping in Europe, which was quite regrettable.
But think about it the other way around. You should be content if you can make money, because you can't make money in all trends. It's always better to make money than to lose money, isn't it?
Yesterday before I took a break, I said that if the historical high cannot be refreshed today, then gold may start to fall. This high point has been attacked many times. After many unsuccessful attacks, the bullish force will weaken. Therefore, whether this attack can be refreshed is a key point. Please keep an eye on it.
How should I trade today? To be honest, I am not sure for the time being, because the current position is in the middle of support and resistance. If I continue to be bullish, it is too far away from the lower support. I feel that there is a risk. If I am bearish, it is still more than ten dollars away from the upper resistance, which is also risky.
Therefore, I think it is better to wait and see. Today, three US data will be released. When the data comes out, I think the direction of the market will be much clearer.
Trading strategy:
If it can break through the historical high today, I think it can chase the rise, with a target of 2550-2570
If it encounters resistance near 2530 today, you can consider selling at a high level, with a target of 2505-2500
