Will the price of gold collapse today? NoWill the price of gold collapse today? No
When an avalanche occurs, no snowflake is innocent
When gold falls, no long player is innocent
As shown in the four-hour cycle:
In order to make everyone feel the changes in trends and emotions more intuitively,
I have drawn almost all the center dividing lines.
The current gold price is approaching $3,500,
The trend line has changed from 1-6 lines, and the rise has been out of control.
But the more this trend continues in the short term, the more it means that the rise in gold prices has deviated from the fundamentals.
It is more like a product of emotional catalysis.
Everything will reverse when it reaches the extreme.
Such a trend indicates that a wave of selling is coming.
I am not asking you to short,
but reminding you to be alert to the super waterfall callback that may occur at any time.
We have made a profit of nearly 500 points from 3,000 points to now. As a professional trader, I have only made less than 200 points in the past two weeks.
This means that I am always worried about the huge pressure brought by high-level selling.
At present, no matter from the perspective of structure, support level, increase, volume, ratio, angle, channel and other indicators, the price of gold has completely exceeded the expected rise.
Yesterday I expected it to rise to 3450 points, and today it is close to 3500 points.
Next, I think waiting is the wisest choice.
Of course, you can try to short with a light position near 3500. Please keep a light position and set a stop loss.
Current support level: 3400-3440--3470
Old rules:
As long as the price of gold is higher than 3440, there is only one choice: continue to go long, wait for a decent waterfall as much as possible, and then go long at a low price.
If you have a different opinion, you can leave me a message and we will discuss it together
