Gold is waiting for a pullback to the support area, buy bullish

2月13日

Yesterday, the U.S. January CPI data came in higher than expected, which reinforced the Fed's cautious stance on interest rate cuts.

After the CPI data release, gold briefly dipped to a low of $2864 before bouncing back. With today’s rise during the Asian session, gold has regained its footing above the $2910 level.

From the hourly chart, although gold touched a low of $2864 yesterday, it merely pierced that level without effectively breaking below $2880. Now, with gold once again stabilizing above the 2900-2910 resistance zone, it indicates that gold is back on track for a bullish trend.

Therefore, we will not anticipate further corrections today. Since the resistance zone at 2900-2910 has been breached, it will now act as support. So, today we look to go long in this support area.

Trading Strategy:

Buy at 2900-2910
TP1: 2920
TP2: 2940
TP3: 2950

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2月13日

交易進行

Today's trading strategy is still very accurate. As expected, gold rebounded after falling back to the buying range of 2900-2910. Now the price has reached 2924 US dollars, successfully reaching our TP1: above 2920. Judging from the rebound strength of the gold price, there is still room for further growth. Let's wait and see.

2月14日

交易結束：目標達成

Gold has risen to near its previous high. The resistance here is strong. We can close our buy orders yesterday and make a profit now. We are ready to plan a new trading plan.