Yesterday, as expected, the price fell from around 3977 to 3940, resulting in significant profits on both short positions. We subsequently suggested going long near 3920. Unfortunately, we didn't reach our expected entry point.
Gold has broken through 4000 points as expected by the market. The current high is 4025, which has reached what we call the resistance area. Be prepared to enter a short position here. Don’t worry about whether it is a bullish trend or a decline. The only thing that matters is making money in the end.
It is worth noting that gold and the US dollar have shown a rare trend of simultaneous strengthening recently. The rise in gold is mainly driven by short-term news, but from the perspective of historical linkage, the strong pattern of the US dollar as the pricing currency of gold is sustainable. If the US dollar continues to rise in the future, it will inevitably significantly suppress the upward space of gold, which further supports our current decision to arrange short positions.
For specific trading decisions, please follow my live updates. I will update my trading ideas and strategies daily. If you don’t have a plan or idea about gold trading and cannot achieve sustained and stable profits, you can refer to and follow my updated content as a reference and guidance to help you avoid mistakes.
Gold has broken through 4000 points as expected by the market. The current high is 4025, which has reached what we call the resistance area. Be prepared to enter a short position here. Don’t worry about whether it is a bullish trend or a decline. The only thing that matters is making money in the end.
It is worth noting that gold and the US dollar have shown a rare trend of simultaneous strengthening recently. The rise in gold is mainly driven by short-term news, but from the perspective of historical linkage, the strong pattern of the US dollar as the pricing currency of gold is sustainable. If the US dollar continues to rise in the future, it will inevitably significantly suppress the upward space of gold, which further supports our current decision to arrange short positions.
For specific trading decisions, please follow my live updates. I will update my trading ideas and strategies daily. If you don’t have a plan or idea about gold trading and cannot achieve sustained and stable profits, you can refer to and follow my updated content as a reference and guidance to help you avoid mistakes.
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Pay attention to the trend line support. If it falls below this position, look at the 4000 point support.
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Join my telegram channel for free- t.me/GoldBitcoinSharing To follow the link, click on the globe icon on the next line
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.