CPI results will determine the rise and fall of gold

2024年12月11日

2024.12.11 Trading Strategy

Yesterday we bought near 2660, and gold went out of a unilateral upward trend, reaching the highest point of 2704. The two target positions we set, 2680 and 2690, were successfully reached.

Judging from the current trend of gold prices, although the highest price reached 2704, the 2700-point integer mark has not been effectively broken through, and the current price is still hovering below 2700, which shows that there is resistance at the 2700-point integer mark.

In addition, I said yesterday that the rise and fall of gold in the future will depend on the results of the CPI data to be announced. Now there is 1 hour left before the data is announced, so how to trade today I will wait until the data is announced before trading.

If the CPI data is bullish for gold and stands firm at the 2700-point integer mark, you can consider chasing long
On the contrary, if the CPI data is bearish for gold, we can rely on the resistance of 2700 points and go short when the opportunity arises.

2024年12月11日

註釋

The CPI data results have been released, and all are in line with market expectations. We are now waiting for further developments in gold, and don't rush into the market.

The next key is to see the resistance performance of the 2700-point integer mark

2024年12月11日

註釋

Whether the gold price can stabilize at 2700 points depends on the closing situation of this K line

2024年12月11日

交易進行

The price of gold has stabilized above 2700 points. Gold is about to start an upward trend. Buy based on the support below.

2024年12月11日

註釋

Although today's CPI data is fully in line with market expectations, it has increased compared with the previous value, which increases the probability of the Federal Reserve raising interest rates next week.

As mentioned in today's article, once the gold price reaches the 2,700-point integer mark, the bullish trend of gold will be continued and continue to move upward. I personally executed the transaction according to the strategy. When the 1-hour K-line closed above 2700, I bought directly. The price was 2707 and the current price was 2715. The price of gold is now bullish, and it is good to test the rise, but don't be careless.

The first resistance level above is around 2720, followed by 2750. If gold rises to 2720, I will consider taking profits

2024年12月11日

交易結束：目標達成

Very good, the gold price has reached the TP level of 2720, and my buy position has been closed.
Although I was a little hasty to chase the rise today, fortunately I did not miss this wave of rising market. I believe that friends who follow the strategy to trade have also made a lot of profit. Congratulations!

If you don’t know how to make profitable trades, you can contact me below and seek my help to copy my trades.
t.me/Reliable_Trading1