Is there still a chance for short sellers to make a profit?

Judging from the recent trend of gold, there is no doubt that the buying power is stronger, so overall gold maintains a bullish pattern.However, in the short-term structure, gold also falls sharply during its rise, which brings considerable difficulties to our transactions.I believe that in the past two days in gold trading, many people should have lost money because of hitting SL. The characteristics of the current gold market are very obvious. The bulls will not stop, but the shorts will not die. During the rise, gold will also suddenly fall in the short-term structure, leaving us unprepared.

Gold currently reaches its highest level near 2388, which is only one step away from 2400. According to the current structure of gold, it seems that it is certain to hit the 2400 level. So do gold shorts still have a chance? I think gold shorts should still have a chance. Gold is currently trading near the 2388 position, and the rise has slowed down. It faces resistance in the 2390-2395 area in the short term; and gold has been too hasty in the short-term rise, so I have reason to believe that,gold still needs a correction after hitting the resistance in the 2390-2395 area. Only after it is confirmed that it has stepped back on the support can it be more conducive for gold to rise and hit the 2400 target.

Moreover, gold has gone through a violent ups and downs and has completely wiped out all short positions. When gold is generally extremely bullish, gold shorts may also counterattack in the short-term structure, and the market will harvest more funds. Therefore, it is not that there are no opportunities for gold shorts, so I will still continue to short gold near the 2389-2390 position, waiting for gold to step back in the short-term structure, and first focus on the 2375-2370 area support below.

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At present, gold has fallen back to around 2386 in the short term, and our short position near 2390 has begun to make profits.

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Gold still has room for a correction

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Currently, the short-term level of gold is facing resistance in the 2390-2395 area, and there should be a correction after touching this area.

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First try to short gold near the 2390 position, and then go long gold after gold falls back.

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First, focus on the 2375-2370 area support below

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I would love to see gold fall back first and then sprint to 2400

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Do you expect gold to fall back?