Today, we highlighted the risks in gold’s upward movement. We also guided everyone to enter short positions on gold at high levels based on the intraday trend, and all these positions yielded solid profits. Currently, gold is trading within the 4,090–4,180 range. It has tested the lower end twice but failed to break below the 4,090 support level—this indicates strong buying interest (support) at lower prices, and the sharp drop during the Asian session was likely just profit-taking by funds that entered at high levels.
Keep an eye on Fed Chair Powell’s speech in 10 minutes. As mentioned earlier, if Powell echoes the current rhetoric in favor of rate cuts, the bullish momentum will continue, and gold will keep hitting new highs. Conversely, if Powell expresses further resistance to rate cuts—causing market expectations for a Fed rate cut to plummet—gold will test the 4,090 support again. A break below this level may trigger a wave of profit-taking sell-offs, and gold’s bull market will come to a complete end.
Trading Strategy
Enter a light short position on gold around the 4,180 level, with a 3-point stop-loss. PS: Stop-losses are a must for news-driven markets; without them, you could easily get trapped if the price breaks out sharply. On the downside, focus on the 4,090 support. If this level is broken, continue to enter short positions on any rebound.
For specific trading decisions, please follow my real-time updates. I post my trading ideas and strategies daily. If you lack a plan or clear direction for gold trading and struggle to achieve consistent, stable profits, you can refer to and follow my updates as a reference and guide to help you avoid mistakes.
Keep an eye on Fed Chair Powell’s speech in 10 minutes. As mentioned earlier, if Powell echoes the current rhetoric in favor of rate cuts, the bullish momentum will continue, and gold will keep hitting new highs. Conversely, if Powell expresses further resistance to rate cuts—causing market expectations for a Fed rate cut to plummet—gold will test the 4,090 support again. A break below this level may trigger a wave of profit-taking sell-offs, and gold’s bull market will come to a complete end.
Trading Strategy
Enter a light short position on gold around the 4,180 level, with a 3-point stop-loss. PS: Stop-losses are a must for news-driven markets; without them, you could easily get trapped if the price breaks out sharply. On the downside, focus on the 4,090 support. If this level is broken, continue to enter short positions on any rebound.
For specific trading decisions, please follow my real-time updates. I post my trading ideas and strategies daily. If you lack a plan or clear direction for gold trading and struggle to achieve consistent, stable profits, you can refer to and follow my updates as a reference and guide to help you avoid mistakes.
Dagangan aktif
There's no point in saying a bunch of ambiguous things; the market will continue to go its own way.Dagangan ditutup: sasaran tercapai
Gold 4145-4150 can be shorted with a light position.
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Join my telegram channel for free- t.me/GoldBitcoinSharing To follow the link, click on the globe icon on the next line
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.