Gold continues to hit new highs; avoid chasing highs.

12 hours ago

Market expectations of further Federal Reserve easing and the risk of a US government shutdown have fueled safe-haven demand, supporting the continued rise in gold prices, pushing them to new all-time highs. Gold maintains a bullish trend and avoids guessing at the top. Trading principles prioritize buying on dips. Monday's gold trend mirrored last Monday's, showing potential for a unilateral uptrend.

Gold's rapid rise has been accompanied by no pullback. However, if this market trend continues, it could represent a market shakeout. The higher the price, the greater the risk of a sharp decline. It's advisable to continue investing in gold during price pullbacks. Maintain a bullish stance, but avoid blindly chasing gains. From a technical perspective, some pullbacks are necessary, so avoid blindly chasing highs to avoid market volatility and a pullback.

Gold's current bullish trend on the weekly and daily charts indicates the bullish trend is not over. It's simply because a pullback after a sharp rise is likely, and a pullback could be a good time to enter a long position.

8 hours ago

Trade active

Nothing can keep rising, it will definitely fall, but the current gold is constantly setting new historical highs. This trend also appeared many years ago. Therefore, based on our experience, at least we can’t operate gold with conventional thinking. Although we are all bullish, I still want to remind you to be cautious when going long.

8 hours ago

Trade closed: target reached

As expected, this sharp rise in the gold market could signal a market reshuffle. The higher the price, the greater the risk of a sharp drop, so the strategy remains to enter the market with long orders on pullbacks.