Gold fell at the opening today before rising. Following the US Court of Appeals for the Federal Circuit's ruling that Trump's tariffs were illegal, the market rebounded strongly, reaching a high of 3489, edging closer to its all-time high.
Our sell order on Friday was hit by the stop loss of 3460 because we did not close the profit in time, which unfortunately ended our continuous profit streak.
As the gold price approaches its historical high, the resistance it faces from above will certainly become stronger. It is very critical whether it can break through 3500 in the next two days. If it fails to break through, it will face a decline.
Therefore, you must not chase the current rise in gold, at least before it breaks through 3500 or retreats to the support below.
The US market is closed today for Labor Day, reducing liquidity and volatility. Therefore, I don't anticipate many good trading opportunities. Everyone should relax and take it easy. I'll notify you if I see a good opportunity.
Our sell order on Friday was hit by the stop loss of 3460 because we did not close the profit in time, which unfortunately ended our continuous profit streak.
As the gold price approaches its historical high, the resistance it faces from above will certainly become stronger. It is very critical whether it can break through 3500 in the next two days. If it fails to break through, it will face a decline.
Therefore, you must not chase the current rise in gold, at least before it breaks through 3500 or retreats to the support below.
The US market is closed today for Labor Day, reducing liquidity and volatility. Therefore, I don't anticipate many good trading opportunities. Everyone should relax and take it easy. I'll notify you if I see a good opportunity.
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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.
Related publications
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.