Profited $14K, NFP is expected to rise and then fall backThis morning, I shorted gold near 2326.31, and as gold fell back to hit TP: 2315, I profited and left the market; I added positions and went long gold near 2296 and 2286, and as gold bottomed out, it hit TP again: 2300 profit and exit. The total profit exceeded GETTEX:14K , which was another good profit for several days in a row!
Tomorrow will usher in a golden highlight moment, because NFP will be released tomorrow, which will definitely intensify short-term fluctuations and even guide the short-term direction of gold. It is a challenge but also an opportunity. In my opinion, gold is likely to rise first and then fall under the influence of NFP market!
Judging from the recent economic data in the United States, the U.S. economy is strong, which limits gold’s upside to a certain extent. Moreover, high inflation has not yet been completely resolved, so the market’s expectations for the Federal Reserve to cut interest rates are decreasing, which is also negative for gold to a certain extent. In addition, gold has also confirmed the validity of the 2430 top at the technical level, so the overall short trend of gold has been established.At least gold has demand to extend its decline. So why does gold rise before falling?
Because gold has been weak recently and shorts have gradually gained the upper hand, the market is likely to need to use NFP data to kill a batch of short positions first and harvest some funds;In addition, gold has fallen ahead of schedule in the past two days, touching the 2285-2280 area many times, which is likely to reserve room for growth in the NFP market in advance. In the short-term structure, gold's technical bottom-out rebound creates a double-bottom structure in the short-term structure, which is helpful for gold's short-term rise. Therefore, in the NFP market, gold is very likely to rise and fall, and continue its decline.
Judging from the current trend, if gold rebounds first, we will first focus on the 2325-2330 area and the 2350-2355 area above. If gold rebounds first with the help of NFP data, I predict that gold is likely to touch the 2325-2330 area during the rebound, and may even try to touch the 2350-2355 area, and then fall back or even continue to fall to the 2270-2260 area. Therefore, in this process, there is a good opportunity to participate in gold trading, and the profit is definitely not small. I will definitely not miss this good opportunity once a month.After all, there are always markets, but opportunities are hard to come by!
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