Gold is rising slowly, so can we adjust our direction?
https://www.tradingview.com/x/krNXtoFq/
When we first entered the market, we saw slogans everywhere, such as "Investing is risky, enter with caution." However, few people actually put this into practice. In the gold market, risk control comes first, followed by investment mentality, and finally, trading methods and strategies. Only by protecting your principal can you achieve profitability; otherwise, everything is just empty talk.
A logical explanation for gold's medium-term upward trend!
Gold rebounded sharply last Friday due to the weaker-than-expected US non-farm payroll report, and the market quickly adjusted its expectations for the Federal Reserve's policy direction, shifting to a more dovish stance. Although the market reaction seemed to indicate very weak data, the overall situation was not as bad as expected. The problem is that the market had previously bet on strong data, and pricing in a more hawkish outlook following the Fed's interest rate meeting has led to even weaker data, so even slightly weaker data could trigger a rapid repricing.
Next, the market's focus will turn to key economic data and speeches by Federal Reserve officials, particularly in the run-up to the September FOMC meeting. As long as incoming data remains benign, Fed Chairman Powell is expected to open the door to a September rate cut at the Jackson Hole annual meeting. From a broader perspective, gold is expected to maintain its upward trend as real interest rates are expected to continue declining. However, a short-term correction is still possible if interest rate expectations become hawkish.
A Gold Trend Perspective!
Unfortunately, gold prices only reached a low of 3350 today before rising again. With no signs of a pullback near the US market close, our bullish dip buying opportunity at 3343 is somewhat difficult to enter. It appears that the upward trend will continue to test the key resistance level of 3380. If there are no dip buying opportunities, consider shorting!
The current hourly chart has broken through the support level, leading to a choppy morning session. The upward trend is likely to test the resistance level of 3380, while the support level of 3350 is key today. For the time being, we will use this range for range trading in the evening session. If there are any further market fluctuations, we will provide a new strategy in real time!
Gold: Short around 3380-82, defend at 3390, target at 3352-55! If it retreats back to around 3350 but does not break through, you can enter a long position!
When we first entered the market, we saw slogans everywhere, such as "Investing is risky, enter with caution." However, few people actually put this into practice. In the gold market, risk control comes first, followed by investment mentality, and finally, trading methods and strategies. Only by protecting your principal can you achieve profitability; otherwise, everything is just empty talk.
A logical explanation for gold's medium-term upward trend!
Gold rebounded sharply last Friday due to the weaker-than-expected US non-farm payroll report, and the market quickly adjusted its expectations for the Federal Reserve's policy direction, shifting to a more dovish stance. Although the market reaction seemed to indicate very weak data, the overall situation was not as bad as expected. The problem is that the market had previously bet on strong data, and pricing in a more hawkish outlook following the Fed's interest rate meeting has led to even weaker data, so even slightly weaker data could trigger a rapid repricing.
Next, the market's focus will turn to key economic data and speeches by Federal Reserve officials, particularly in the run-up to the September FOMC meeting. As long as incoming data remains benign, Fed Chairman Powell is expected to open the door to a September rate cut at the Jackson Hole annual meeting. From a broader perspective, gold is expected to maintain its upward trend as real interest rates are expected to continue declining. However, a short-term correction is still possible if interest rate expectations become hawkish.
A Gold Trend Perspective!
Unfortunately, gold prices only reached a low of 3350 today before rising again. With no signs of a pullback near the US market close, our bullish dip buying opportunity at 3343 is somewhat difficult to enter. It appears that the upward trend will continue to test the key resistance level of 3380. If there are no dip buying opportunities, consider shorting!
The current hourly chart has broken through the support level, leading to a choppy morning session. The upward trend is likely to test the resistance level of 3380, while the support level of 3350 is key today. For the time being, we will use this range for range trading in the evening session. If there are any further market fluctuations, we will provide a new strategy in real time!
Gold: Short around 3380-82, defend at 3390, target at 3352-55! If it retreats back to around 3350 but does not break through, you can enter a long position!
Dagangan aktif
Gold has completed its correction and is now starting to fallDagangan ditutup: sasaran tercapai
Get ready to profit, dear traders!
Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.