With large short positions, will gold rebound?

The U.S. dollar index is still rising recently. With significant short holdings still in the market, there is little chance of gold rebounding in the near future. We should look for shorting gold at high levels, which is safer.

xauusd trading signals

Sell1850-1855 TP1940

I will update further ideas in the channel one after another. Thank you for your support.

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Gold is still falling, which is already expected. I have said many times that it is not suitable for long orders to enter the market at the moment. Gold has still fallen in recent times, and the rebound effect has been minimal. If you want to get into the gold market, I suggest you go short at the top. This is the safest method. We don’t need to take risks for a little profit. I wish everyone smooth trading.

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Now let’s see if gold falls below 1830.

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Long orders enter the market, TP1832

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At present, bulls can still enter in the short term, with the target of 1836.

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Closing the trade with only a small profit, gold still looks to be on a downward trend.

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It has started to decline again. It is recommended that partners with long orders pay attention to their defensive positions.

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Gold is still bearish, and those who want to trade long are advised to continue to watch and not enter the market.

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So far, many friends have asked me what to do with gold and where to enter with long orders. I have answered patiently. My current opinion is that gold is still on the bearish side and I do not recommend entering with long orders. The safest way is to wait until gold rebounds to highs before shorting. Currently I am paying attention to the crude oil market.

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The short-term decline of the US dollar index and the short-term decline of USD/JPY to 300 points are both favorable factors for gold. In my opinion, gold's rebound is about to begin. We have entered at 22 and made a profit at 30, making a short-term profit of 7 US dollars.