Gold: Trading like this today will yield more profits

As expected, gold traded within the range of 1813-1823 in the last few hours yesterday and fell below 1813 today. Therefore, our first target is around 1804, as the trend has turned from bullish to bearish. When trading, it is mainly focused on shorting at high levels.

The chart is based on a 30-minute interval, and the first resistance to be faced today is near 1814. Only by breaking through it is it possible to touch the second resistance near 1823, and then possibly 1831.
1814 is considered the first resistance because it was originally a support level but has now been broken, turning into a resistance level. The same is true for 1823 and 1831.

To trade based on today's bearish sentiment, the specific strategy is as follows:

Start with a small amount of short trading near 1814. If there is a breakthrough, increase short positions in the range of 1819-1823, with TP set at 1813 and 1806, respectively.

When testing the support near 1804, if the support is effective, go long in the range of 1804-1806, with TP set at 1812 and 1819, respectively. Afterward, observe the resistance near 1823 to determine the next trading direction.

I will continue to track the market trends in real-time and share strategies. Thank you for your support and attention, and I hope you continue to follow me as it will contribute to the completeness of the trade. I will also share more interesting trading strategies for you to refer to! If you have any questions, please leave a message in the comments section, and I will provide you with the most reliable solution with the most serious and responsible attitude to help you solve the problem!

Wish you a pleasant day!

Trade active:

1814 has arrived and I have made a small amount of short trades

Comment:

Judging from the current trend, the resistance around 1814 is relatively large, and my short position is still in the state of holding

Comment:

Gold has broken through the resistance level at 1814 and is expected to rise to around 1821-1823. If there is sufficient margin, long positions can be established, with profit-taking near 1820.

Comment:

Hold onto the short position you currently have, and wait for resistance in the 1821-1823 range before adding to your position.

Comment:

Gold has fallen to around 1814. Whether holding long or short positions, there is an opportunity to take profit today. Currently, what is needed is to ensure there is sufficient margin in the account and to have enough patience to wait.

Comment:

The ADP data is bearish for gold, but there is little volatility. Hold positions.

Trade active:

Gold longs hit their take profit levels, while shorts added to their positions around 1821-1825.

Comment:

If the short position is too large, it may be advisable to take partial profits first.

Trade active:

Gold is once again rising, testing resistance around 1820-1823. If it breaks through, it could go up to around 1831. Short positions are relatively light and can be held. Positions can be increased in the range of 1829-1833. If it fails to effectively break through the 1823-1825 range, it may fall back to around 1814-1810, at which point shorts can take the opportunity to take profit.

If there is sufficient margin, one can participate in long positions again if the market breaks through 1823. If it first retraces to the support range of 1814-1810, then the trading direction can be decided based on the support situation after closing the short position (participate in long position if support is effective, continue short position if support is ineffective).

Comment:

Friends, the trading strategies for gold, EURUSD, and OIL have been updated today. Please visit our homepage to read them. Thank you for your attention and support, and have a pleasant day!