Gold will fall after the rebound, so go short gold!

23 mag

The Federal Reserve's monetary policy is hawkish, and some officials even stated that they can continue to raise interest rates if inflation rises, causing a large-scale withdrawal of market interest rate cut expectations. Gold has plummeted all the way, and the current lowest has reached around 2355.Although gold has rebounded in the short term, the overall rebound is still weak.
https://www.tradingview.com/x/rs0qgUkL/

It is not easy to accurately determine what rhythm gold will maintain after experiencing a sharp decline.But the decline has definitely slowed down, and since gold appears weak during the rebound, gold may not see a retaliatory rebound in the future, and may digest the sharp decline with shocks. It is expected that the rebound of gold will be limited, so we still have to maintain the trading idea of short selling at high levels in our transactions.

At present, gold faces short-term resistance in the 2370-2375 area, which is also the short-term top-to-bottom conversion area. So if gold rebounds and hits this resistance area, I would definitely try to short gold first.

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23 mag

Trade attivo

The rebound momentum of gold is relatively weak, and the rebound is not expected to be large. Moreover, the resistance above limits the rebound space, so we still focus on shorting gold in terms of trading.

23 mag

Trade attivo

The release of initial jobless claims data is negative for gold, with gold falling back to around 2361 in the short term

23 mag

Trade attivo

Initial jobless claims data was released at 215,000, which was smaller than the previous value and expected value, which is negative for gold. Gold fell back to around 2361 in the short term, in line with my expectation of being bearish on gold.

23 mag

Trade attivo

During the rebound, gold hit its highest level near 2370 and happened to encounter resistance in the 2370-2375 area. Then it fell to around 2352 as expected, fully in line with my expectations of shorting gold. Our short position near the 2368 position also hit the TP perfectly: 2357

23 mag

Trade attivo

You can try to do long gold in small batches near the 2342 position

23 mag

Trade attivo

At present, gold has rebounded above 2346 in the short term, and our long positions have begun to make profits.

23 mag

Trade attivo

I think gold still has some room to rebound

23 mag

Trade attivo

Gold is relatively weak, so it is better to wait for gold to rebound and go short. Going long gold is still not safe. We first close the position at 2350 and lock in the profit in time.Although the profit is less, the transaction is safer

23 mag

Trade attivo

Fortunately we changed the TP to 2350 and gold fell back right after hitting 2350