Today, gold rebounded to 2458, and then fell all the way, hitting the lowest point near 2365. We made a lot of profits in both long and short transactions today. First, we shorted gold near 2441, and gold hit TP: 2425 during the decline; when gold rebounded again, we shorted gold again near 2445 and 2452, and then we closed the position manually near 2439; then we chased short gold near 24117, and gold hit TP: 2398 during the decline; when gold fell to 2364 and showed signs of stopping the decline, we went long gold near 2366, and gold hit TP: 2380 again during the rebound. Then we chased long gold near 2390, and we closed the position manually near 2396. https://www.tradingview.com/x/58EXuGQR/
At present, gold continues to rebound to around 2410. I think it is impossible for gold to form a strong reversal in a short period of time after a sharp decline. Gold will continue to fall after the rebound. At present, gold is facing short-term resistance in the 2413-2415 area. If gold cannot form an effective breakthrough, it will continue to fall!
So in terms of short-term trading, I still insist on shorting gold in the 2410-2415 area. What we have to do next is to wait for the rapid growth of profits!
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Trade attivo
Gold encounters resistance near 2410 and cannot effectively break through, and gold will continue to fall
Trade attivo
We have just closed our short position near 2401 and are waiting for gold to rebound before we go short again.
Trade attivo
Gold is in a narrow range again, and there are no good trading opportunities for the time being.
Trade attivo
When gold rebounds to this area again, we can short gold again.
Trade attivo
At present, gold is beginning to fluctuate. We are not overly bearish or bullish on gold for the time being.
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