Gold waits for the correction to end before buying

20 Feb

We have perfectly captured this gold rally, with our trading strategy to buy in the 2900-2910 range and set three targets at 2923, 2940, and 2950—all of which have been achieved. While there were some twists and turns along the way, the outcome is definitely rewarding. Congratulations again to those who followed the signal and traded accordingly.

Now, let me share my thoughts on the current gold situation for your reference.

Firstly, I remain optimistic about gold’s outlook, but after this rally, I believe gold will face a short-term technical pullback. The key point to watch now is whether the previous high at 2940 will hold as support. If it fails to hold, there is a high probability it will retest the trendline around 2920.

Looking at the range between 2955 and 2920, there is still plenty of room for trading. I’ve outlined two potential strategies for your consideration:

Trading Strategies:

Sell at 2950-2955
TP1: 2940
TP2: 2920

Buy at 2920
TP1: 2940
TP2: 2955

Ladies and gentlemen, if you're following my trades and would like more detailed insights and trading signals, you can join my trading channel below the article. You'll get immediate access to my thoughts every day.

20 Feb

Nota

Gold has indeed seen a correction and has now fallen below the support of 2940. The price of gold has reached 2924, which is very close to our buying point of 2920. My personal opinion is that when the price reaches 2920, we should not intervene rashly for the time being, but should observe the support of this line. If it can be supported, we can buy based on the opportunity, otherwise we will observe 2900-2880 below.

20 Feb

Dagangan aktif

Gold corrected quickly and rebounded equally quickly. Although our strategy was correct, it was a pity that we were not given time to react and a suitable entry price.