Gold plummets, here’s how to trade next

Gold prices suffered their biggest one-day drop in nearly two years on Monday. what can I say? This is crazy. Instead of first covering the gap and then falling as we expected, it fell directly, causing long losses. The recovery margin of the rebound is very small. It can be said that it rises quickly and falls quickly! But that’s okay, we can easily make it back on the next trade.

So according to our thinking, currently we need to focus on short positions and supplement with long positions;
The year 2312 can be said to be a short-term watershed. If it can reach above 2312, you can go long. But be light on the position, and the target is around 2334 points;

If it rebounds to around 2312 and does not break, then go short directly with the target around 2280-2270.

Based on gold's massive up and down trends, I would be more inclined to go short.

Follow me, trading is that easy! Stay rational, follow the trading plan, and avoid blindly following the trend or trading emotionally!

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