XAUUSD: 2663 is the swing level, will it rise or fall?

2024年11月29日

Yesterday we sold near 2650, and the gold price fell again, reaching a minimum of 2635, with a profit margin of 15$. Recently, we have made good profits for three consecutive short sales. If you follow, you should have made a lot of money. Congratulations.

Today, the gold price rebounded again in the Asian session, and the current price is around 2663.
From the chart, we can see that 2663 was the previous support level, which has now turned into a resistance level. And this is the 0.5 resistance level of the Fibonacci retracement of the 2721-2605 downtrend, so the resistance here will be relatively strong.

Therefore, we can decide today based on the situation. If the resistance near 2663 cannot be broken, we can short here again.
On the contrary, if it breaks through 2663, the short trend will no longer exist, and we can look for opportunities to go long.

2024年11月29日

交易進行

Very good, gold fell as expected from 2663. This is the 4th consecutive victory that we chose to short.

2024年11月29日

交易結束：目標達成

The gold price has now fallen to 2650. Our position sold at 2663 now has a profit margin of $12. Considering that today is Friday, we will not continue to hold on. Now everyone can close all positions with profits.

Overall, this week's performance is perfect, and all trading strategies have won. Congratulations to those friends who follow my ideas and trade. I wish you all a happy weekend and see you next week.