Gold, the reason and position to sell today
On the gold side, Friday's trading was still difficult. In Friday gold always position 1975-1980 near position for range oscillation, which makes it difficult for market investors to make a judgment. And of course that includes me. Although we looked in the right direction on the day of the non-farm payrolls and traded correctly, but did not stick to hold. This made the profit not to be maximized. The reason here are two aspects, I focus on these two aspects:
1, from the non-farm payroll data news to analyze. The forecast is 19. But it has not been below 19 since 2021-2022. The economy has not been below 19 in the previous years when it was so difficult, so the NF is not good for gold. So we are selling at 1980 before the NFP news market comes out. And then at 1969buy.
2, after the data came out that day, the market h1 hour fell down to 1968.5. just down near the 1969 position. And then rose to near the 1976 position. Here is a bit awkward. If the market is down to 1967, then the rebound will not be so big, but because it just fell to 1969 position near. Plus the 30-minute closing positive line. So this position to see the continued rise of more people. This time the best way to solve the problem of profitability is through trading skills. That's why we put a buy order for the 1969 position at the 1975 position for take profit.
The data became a trigger. Although we followed the third trade with a sell trade. And our tp was also 1955-40. But since the h1 hour closed positive, we would have had to close the trade in terms of trading skills, which is why we looked in the right direction and made the right trade, but failed to maximize profits.
And now this sharp retracement, to a large extent, will see two kinds of moves:
1, the weekly cross, there is a continuation of the momentum, this continuation of the fall, must be looking at the location of the broken bottom 1932.
2, if treated as a rising secondary retracement of the washout, the retracement is to the low to do the key position, to layout the sell order.
Therefore, this week's contradiction lies in the end is to break the bottom to look long, or not break the bottom position to look long.
The focus is on the first two trading days of the week.
In terms of the theory of weakness, the big negative engulfing the decline, no matter what, today's is to sell.
Either look at the very weak decline, continue to look at the previous low of 1932, if today reached, it is bound to break the bottom, after BUY, it is necessary to plan from the new.
If today's rebound shock, the daily closing sun, the low is still valid, and this rebound is just a shock, the above sell or unchanged.
Therefore, regardless of today's rebound or break the bottom, you have to sell. The point of time is still the European market.
The European market is the key to decide everything, very weak European market broke the bottom down, if the oscillation, the European market hourly rebound even positive, the U.S. market to see the high fall, the daily closing oscillation pattern.
And for the moment, Friday's continuous plunge close, the morning flat open retracement of the broken bottom, took the continuation of the fall pattern, the morning selling position is not available.
The previous day down, the rebound to sell the location of three: the early morning reversal of the high point, the golden mean 382 position and the top of the hourly large negative line, which is more reasonable position in the renewal of the fall level 1954, but also the previous low support conversion.
Therefore, focus on the resistance position of 1954-55.
Note that the morning is a broken bottom, if the price rebound to this point, then it must be a shock.
And it is the European market rise, the U.S. market to see the high fall.
Today's current operation makes little sense, if the European market directly break the bottom, or wait for the U.S. market to rebound and sell.
Therefore, the focus and timing of the operation is the U.S. market, do not participate too much in the day.
1, from the non-farm payroll data news to analyze. The forecast is 19. But it has not been below 19 since 2021-2022. The economy has not been below 19 in the previous years when it was so difficult, so the NF is not good for gold. So we are selling at 1980 before the NFP news market comes out. And then at 1969buy.
2, after the data came out that day, the market h1 hour fell down to 1968.5. just down near the 1969 position. And then rose to near the 1976 position. Here is a bit awkward. If the market is down to 1967, then the rebound will not be so big, but because it just fell to 1969 position near. Plus the 30-minute closing positive line. So this position to see the continued rise of more people. This time the best way to solve the problem of profitability is through trading skills. That's why we put a buy order for the 1969 position at the 1975 position for take profit.
The data became a trigger. Although we followed the third trade with a sell trade. And our tp was also 1955-40. But since the h1 hour closed positive, we would have had to close the trade in terms of trading skills, which is why we looked in the right direction and made the right trade, but failed to maximize profits.
And now this sharp retracement, to a large extent, will see two kinds of moves:
1, the weekly cross, there is a continuation of the momentum, this continuation of the fall, must be looking at the location of the broken bottom 1932.
2, if treated as a rising secondary retracement of the washout, the retracement is to the low to do the key position, to layout the sell order.
Therefore, this week's contradiction lies in the end is to break the bottom to look long, or not break the bottom position to look long.
The focus is on the first two trading days of the week.
In terms of the theory of weakness, the big negative engulfing the decline, no matter what, today's is to sell.
Either look at the very weak decline, continue to look at the previous low of 1932, if today reached, it is bound to break the bottom, after BUY, it is necessary to plan from the new.
If today's rebound shock, the daily closing sun, the low is still valid, and this rebound is just a shock, the above sell or unchanged.
Therefore, regardless of today's rebound or break the bottom, you have to sell. The point of time is still the European market.
The European market is the key to decide everything, very weak European market broke the bottom down, if the oscillation, the European market hourly rebound even positive, the U.S. market to see the high fall, the daily closing oscillation pattern.
And for the moment, Friday's continuous plunge close, the morning flat open retracement of the broken bottom, took the continuation of the fall pattern, the morning selling position is not available.
The previous day down, the rebound to sell the location of three: the early morning reversal of the high point, the golden mean 382 position and the top of the hourly large negative line, which is more reasonable position in the renewal of the fall level 1954, but also the previous low support conversion.
Therefore, focus on the resistance position of 1954-55.
Note that the morning is a broken bottom, if the price rebound to this point, then it must be a shock.
And it is the European market rise, the U.S. market to see the high fall.
Today's current operation makes little sense, if the European market directly break the bottom, or wait for the U.S. market to rebound and sell.
Therefore, the focus and timing of the operation is the U.S. market, do not participate too much in the day.
🧑🏫If you are a beginner
