XAUUSD: Key Resistance at 2698-2708
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Yesterday, gold successfully held the support level between 2668 and 2663 during its pullback and subsequently began a consolidation and upward trend. As highlighted in my previous analysis, the strategy was clear: if the price held above this support, we would go long; if it broke below, we would wait for a rebound to go short. If you followed this analysis, I trust you captured significant profits from this movement.
Currently, the price is approaching the crucial resistance level of 2700, where substantial selling pressure is anticipated. It's possible that the price may either break through and subsequently pull back or begin to retreat as it nears this level. Therefore, the prudent approach is to adopt a short position initially and then reassess the situation based on support levels to determine whether to transition into a long position.
Currently, the price is approaching the crucial resistance level of 2700, where substantial selling pressure is anticipated. It's possible that the price may either break through and subsequently pull back or begin to retreat as it nears this level. Therefore, the prudent approach is to adopt a short position initially and then reassess the situation based on support levels to determine whether to transition into a long position.
Trade attivo
As we anticipated, the market experienced a rapid pullback as it approached the 2700 level, followed by a quick rebound near the support level. This volatility once again demonstrates our analytical capabilities. Our channel will provide more real-time information and analysis to help you seize every trading opportunity. Stay tuned, and make sure you don’t miss out on any profit opportunities!Trade attivo
The price is falling. How is everyone's trading? Is there anyone who is stuck in a long position?Trade attivo
Gold is currently facing significant resistance, and the risk for long positions is slightly higher. If you still hold long orders, consider closing them in batches. If you want to aim for a higher position, you can leave a small amount of orders. Short positions can be reestablished nowTrade attivo
There is a forecast and analysis of the market trends for the upcoming week in the channel. Those who are interested can check it out.
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