Gold prices may continue to decline; short positions are valid!

Nov 17

The gold market opened relatively calmly this week, with prices encountering resistance at 4109 and trending downwards, remaining weak and oscillating below 4100. Rebounds were clearly weak, and the bears are currently in control.

Regarding trading, the strategy of shorting gold near 4090 has yielded significant profits, providing multiple entry opportunities. This trade was very successful. I currently hold a short position at $4099, which I plan to continue holding, with a target price lower.

From the current market perspective, the daily chart shows a wide range of fluctuations, and it is currently in the process of adjustment. There are no signs of a bottom in the short term yet. Short selling strategies are still applicable. You can continue to consider shorting gold in the 4080-4105 range. I will notify you again if the market changes!

The above are my personal thoughts! If they are helpful to you or your ideas align with mine, please like and follow to show your support! All strategies have a limited lifespan. While referring to them, it's also important to closely monitor market changes. I will respond flexibly based on actual market fluctuations, and I will provide specific updates in the channel!

Nov 18

Trade active

Gold prices have shifted downwards, continuing their decline, which largely aligns with what I mentioned in my previous article. I believe there's a chance today for prices to test below $4,000, and the intraday short-selling strategy remains applicable!