In terms of gold, it fluctuated all the way back from around 1926 at the beginning of last week, and accelerated its decline after falling below 1910/1900. This was mainly due to the core view of the Federal Reserve to maintain high interest rates for a long time. The U.S. dollar index refreshed its high point in the past year, and gold was under pressure. Weak, after falling below the 1900 mark, it fell back with inertia. After falling below the previous low of 1884, it fell back with inertia. It hit 1957 on Thursday and stabilized. It made an effective counterattack on Friday and hit around 1880. Then, with the risk of the US government shutdown temporarily The second sell-off subsided, and the trend continued again. It once touched around 1845. At present, the short positions are gradually released, and it is also close to the strong support near the rising point from the beginning of the year. The 1832/1800 mark is approaching below, so it is not too much to chase the shorts now. , pay attention to the bulls’ counterattack after the shorts cash out!
Gold trading ideas Buy: 1842 SL1834 TP1860
Sell 1862 SL 1870 TP1850
Gold trading ideas Buy: 1842 SL1834 TP1860
Sell 1862 SL 1870 TP1850
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I wish you all a happy Monday and a smooth start to your trading week.
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The current trend is relatively stable. If you have less funds, it is recommended to take profit near 1845.
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Now is still a good time to enter long orders.
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If you are still observing the market, I suggest you not to enter for the time being. The U.S. dollar index is still rising. The chances of gold rebounding in the near future are slim. We should look for shorting gold at high levels, which is safer.
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Currently, long orders can be entered, and the TP position is 1840
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At present, bulls can still enter in the short term, with the target of 1836.
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Closing the trade with only a small profit, gold still looks to be on a downward trend.
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It has started to decline again. It is recommended that partners with long orders pay attention to their defensive positions.
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Gold is still bearish, and those who want to trade long are advised to continue to watch and not enter the market.
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So far, many friends have asked me what to do with gold and where to enter with long orders. I have answered patiently. My current opinion is that gold is still on the bearish side and I do not recommend entering with long orders. The safest way is to wait until gold rebounds to highs before shorting. Currently I am paying attention to the crude oil market.