Gold encounters resistance at 3310-3320 and is about to fall

kelmarin

At present, gold has reached the 3300-3320 area as expected. As I mentioned in my previous article, we can consider shorting gold in batches in the 3300-3320 area;

Although gold once rebounded and stood above 3300, we can clearly see that when facing the short-term resistance area of ​​3310-3320, the bullish energy of gold has converged and began to show signs of stagflation, so the short-term resistance area of ​​3310-3320 is still valid.

Before gold breaks through 3310-3320, gold bears still have the upper hand. So as long as gold stays below 3310-3320 in the short term, don't be afraid of gold rebounds. Rebounds are opportunities to short gold. So I still tend to short gold at present, and have opened short gold positions according to the trading plan, hoping that gold can retreat to the target area: 3285-3275-3265. Do you think gold will fall as expected?

kelmarin

Dagangan aktif

Gold is currently continuing to rebound to around 3320, but has not made an effective breakthrough for the time being. If gold cannot stand above the 38.2% retracement level in one fell swoop and consumes a certain amount of bullish momentum in this area, gold will fall again. We can continue to short gold near this position.

kelmarin

Dagangan ditutup: hentian tercapai

Good morning, bros! Actually, this morning is not good at all. Unfortunately, our short position near 3305 overnight hit SL: 3318 during the gold rebound. In fact, it was beyond my expectation that gold could continue to rebound above 3330. I originally thought that gold would only reach around 3320. Since gold went against our expectations, there is no need for us to fight against the market. We need to admit our mistakes and correct them in time. Although we have given back some of the profits of the past two days because gold hit SL, as long as our account is safe, we still have the opportunity to make a profit!