Today we bought gold in the 2324-2320 area several times and successfully exited with a profit! We made a relatively good profit. Personally, we made more than 10K profit in gold long trades today, which is a good result! https://www.tradingview.com/x/F5Vqx8gi/
At present, gold is once again in a narrow range of fluctuations, with no clear direction, which brings certain difficulties to short-term trading. But in fact, as long as gold holds the 2318 defense line, I think gold will continue to rise. So before gold falls below 2318, the decline of gold is just compression. The more severe the compression, the more violent the rebound may be. Although gold has encountered resistance in the 2330-2335 area many times, with the kinetic energy accumulated during the compression process, it is enough to support gold to break through the 2330-2335 area, and may even continue to rebound to the 2350 area.
Therefore, before gold falls below 2318, I will still mainly go long gold on the fallback! Secondly, be cautious about shorting gold using the 2335-2340 area as resistance, but when gold breaks through this resistance area, take advantage of the trend and go long gold!
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交易進行
Gold rebounded to around 2329 as expected
交易進行
Gold rebounded again to around 2330. If gold wants to continue to rebound to 2350, it will fall back and compress to accumulate bullish momentum.
交易進行
There is still some resistance around 2335. In addition, gold needs to gain enough upward momentum and needs to be compressed again. For the time being, you can short gold again based on this resistance.