Continue to try to find the top of the band to short gold

kelmarin

Gold maintained a slow and volatile rise structure during the day. The highest has reached 3348, and it is only a step away from 3350. Will gold continue its upward momentum as usual?

In fact, it was beyond my expectation that gold could break through 3345 in the short term. According to my original expectation, the intraday high of gold was almost around 3345. Although the rebound of gold exceeded expectations, it is currently located near the resistance of 3348-3350, so I will definitely not give priority to chasing gold at high levels in short-term transactions.

Moreover, gold is currently in the resistance area of ​​3348-3350. The volatility of gold has converged, and the upward momentum has declined. As gold continues to rebound and faces the key resistance area again, the bulls are relatively more cautious. In this context, this resistance area may act as a catalyst, and the bears will react, leading the decline in gold. However, as gold rebounds and the support below gradually stabilizes, we can appropriately reduce the expectation of gold's decline and adjust the decline target to the 3330-3320 area.

So for short-term trading, I will still short gold based on the resistance area, trying to find a swing top in the 3340-3350 area, and look at the target area of 3330-3320.

kelmarin

Dagangan aktif

Bros, after the New York market started, gold rose by inertia and stood above 3355. The short-term bullish power of gold is relatively strong. After closing our short positions in the morning to lock in profits, we are still holding short positions near 3350. If you are shorting gold like me, in order to prevent gold from continuing to rise, we must set SL during the transaction, but in order to prevent gold from falling after a false breakout of 3360, we must set SL: 3360.6. Although we set SL, we don't have to be too pessimistic. If gold cannot stand above 3360, gold may still fall back due to technical repairs and step back to the 3340-3335 area.

kelmarin

Dagangan ditutup: hentian tercapai

Bros, today's trading is very tortuous! Originally, I shorted gold near 3335 early today, and set TP: 3315. However, gold only touched 3327 during the decline, which is still far from TP, so we chose to hold the position; then, during the gold rebound, we added positions near 3343 to continue shorting gold, and adjusted TP to: 3326. Gold did not perform as expected during multiple retracements, and only touched 3330. So after multiple tests, I notified all VIP members in time to close the above two short positions near 3330, and there was a slight profit overall.

Then, during the gold continued to rebound, I thought about shorting gold with the resistance of 3350-3355 area, so we chose to short gold at 3350 as planned, and expected gold to retreat to 3345-3335 area, but gold did not even fall below 3350 during multiple retracements. At present, gold has risen again and hit SL: 3360.5

Unfortunately, our last short position was closed by hitting the SL. But because we strictly set SL in the transaction to control the transaction risk, the loss is within our tolerance range. Although some profits were given back, there is still a slight profit today overall!

I don’t think it’s shameful to lose money because of hitting SL, and SL is a necessary measure for us to control trading risks. On the contrary, I think it’s a more shameful way to trade because of huge losses against the market without taking any stop-loss measures and getting into trouble. Currently, gold continues to rebound above 3364. I am very glad that I controlled the trading risk by setting SL!