The Fed 🦅 hawks once again suppressed gold prices, and gold bulls were gradually reversed
In early European trading on Wednesday (September 6), spot gold fell short-term, and the price of gold is currently approaching $1,923 an ounce. Suppressed by the strong rise in the U.S. dollar, spot gold closed at $1,924.96 an ounce on Tuesday, down $13.21 an ounce or 0.68% in a single day.
The greenback was supported by solid safe-haven bids amid growing concerns about the possibility of a global economic slowdown caused by China and Europe. At the same time, high U.S. inflation has dampened expectations that the Fed will cut rates soon
Gold technical analysis, how to operate now?——
Gold On a daily basis, the momentum indicator remains directionless, just above the 100 line, but the Relative Strength Index (RSI) suggests continued selling pressure as it is gaining strength to the downside around 50. Finally, the 100-day simple moving average (SMA) maintains a bearish slope well above current gold price levels, while the 20-day and 200-day SMAs converge around 1915.90. Looking at gold from the 4-hour line, the price of gold is trading below the 200-period SMA and 20-period SMA, with the shorter-term moving average accelerating downward above the longer-term moving average. Meanwhile, technical indicators remain in negative territory.
On the whole, Pete still recommends rebounding and shorting in the gold operation tonight!
Short order strategy: see 1927-1929 sell above, stop loss 1936, target near 1913;
Multi-single strategy: See 1913-1911 buy below, stop loss 1905, target around 1925.
In early European trading on Wednesday (September 6), spot gold fell short-term, and the price of gold is currently approaching $1,923 an ounce. Suppressed by the strong rise in the U.S. dollar, spot gold closed at $1,924.96 an ounce on Tuesday, down $13.21 an ounce or 0.68% in a single day.
The greenback was supported by solid safe-haven bids amid growing concerns about the possibility of a global economic slowdown caused by China and Europe. At the same time, high U.S. inflation has dampened expectations that the Fed will cut rates soon
Gold technical analysis, how to operate now?——
Gold On a daily basis, the momentum indicator remains directionless, just above the 100 line, but the Relative Strength Index (RSI) suggests continued selling pressure as it is gaining strength to the downside around 50. Finally, the 100-day simple moving average (SMA) maintains a bearish slope well above current gold price levels, while the 20-day and 200-day SMAs converge around 1915.90. Looking at gold from the 4-hour line, the price of gold is trading below the 200-period SMA and 20-period SMA, with the shorter-term moving average accelerating downward above the longer-term moving average. Meanwhile, technical indicators remain in negative territory.
On the whole, Pete still recommends rebounding and shorting in the gold operation tonight!
Short order strategy: see 1927-1929 sell above, stop loss 1936, target near 1913;
Multi-single strategy: See 1913-1911 buy below, stop loss 1905, target around 1925.
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I found that many people in this market have been looking up articles from different people every day, seemingly looking for private experts in order to confirm the direction of the market. In fact, the more you read, the more you have no direction. For a person who keeps asking for directions and doesn’t trust others, getting lost is an inevitable result! Remember, it’s not necessary to increase your position in the place of floating losses, as long as you do it, some people It's just that he didn't do it at all, and he did all the booing all day long.
No matter the price rises or falls, a slight fluctuation will become a frightening bird. I only do what I can understand and see clearly. The real profit comes from sobriety, and the biggest floating loss comes from arrogance. Some people always hold low positions when they rise, and hold more high positions when they fall. It is normal to have gains and losses in transactions, but they always do not set stop losses every time. Being rescued is like the probability of being struck by lightning. Don’t make too many excuses for the losses you cause. Before entering the market, think clearly about your stop loss, where your target position is, and how to deal with accidents. When there is a profit and when to leave, think clearly before entering!
If you don't have a good idea, then I suggest you follow me
No matter the price rises or falls, a slight fluctuation will become a frightening bird. I only do what I can understand and see clearly. The real profit comes from sobriety, and the biggest floating loss comes from arrogance. Some people always hold low positions when they rise, and hold more high positions when they fall. It is normal to have gains and losses in transactions, but they always do not set stop losses every time. Being rescued is like the probability of being struck by lightning. Don’t make too many excuses for the losses you cause. Before entering the market, think clearly about your stop loss, where your target position is, and how to deal with accidents. When there is a profit and when to leave, think clearly before entering!
If you don't have a good idea, then I suggest you follow me
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Gold has entered a technical short position. In the short term, it must follow the technical direction to see the short position.
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Selling in 1927 has made a profit of $4
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Now gold has fallen to 1922. After listening to my suggestion, friends who sell in 1927 can take profit first
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Continue to fall, the current maximum profit is 10 US dollars! Let our profits continue
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We sold twice at this position in 1927 and both made a profit of $10.
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Previous article: 228K
Expected: 232K
There are about 3 hours until the announcement
Contact me to get the latest trading signals tonight