NFP market, looking for opportunities to short gold

May 2

Fundamentals:

Mainly focus on today's NFP market;

Technical aspects:

Gold rebounded near 3200 and has gradually rebounded to around 3265. This wave of rebound is not surprising. After all, I have been insisting on short-term long gold since yesterday, and I have also gained a good profit. As gold falls and breaks through many key supports, my expectations for the magnitude of this rebound are not high. In the short term, it will first face resistance in the 3270-3275 area, and secondly, it will face resistance in the 3285-3295 area.

Moreover, the rebound and rise of gold before the NFP market is very confusing in itself. It is not ruled out that it is to pave the way for the sharp drop in the NFP market. Once gold falls again, it is likely to fall below 3200 and continue to around 3180.

Trading strategy:

1. Consider shorting gold when it rebounds to 3270-3280, TP: 3240-3230;

2. Consider continuing to short gold when it rebounds to 3280-3290, TP is the same as above.

May 2

Trade active

During the rebound, gold reached a maximum of above 3269, which is exactly in line with our expectation of shorting gold around 3270-3280. Moreover, the NFP data was significantly negative for gold, and our short position has made very good profits.

May 2

Trade closed: target reached

Bros, how does it feel to watch gold fall and hit TP? Doesn’t it feel as refreshing as drinking a bottle of cold beer in the hot summer? ! Congratulations to all my friends who followed my trading strategy and won a big victory in the NFP market, with a profit of 290pips! ! !