Dear Traders,
Gold has continued its upward movement, supported by strong buying interest, pushing above 2930, with bullish momentum regaining control. However, at this stage, I do not believe it is wise to chase further long positions in gold.
I am currently still holding short positions in gold, and despite its apparent strength, I am not concerned about my short positions. This is because gold is once again facing resistance at previous highs, and according to the trendline, the 2936-2940 region remains a key resistance zone. Therefore, it is likely that gold will pull back upon reaching this zone and test support in the 2915-2910 region.
In terms of short-term trading, I will continue to short gold in batches above 2930, using the 2936-2940 resistance zone, and expect a retracement towards the 2915 area.
Bros, do you have the courage to short gold with me? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
Gold has continued its upward movement, supported by strong buying interest, pushing above 2930, with bullish momentum regaining control. However, at this stage, I do not believe it is wise to chase further long positions in gold.
I am currently still holding short positions in gold, and despite its apparent strength, I am not concerned about my short positions. This is because gold is once again facing resistance at previous highs, and according to the trendline, the 2936-2940 region remains a key resistance zone. Therefore, it is likely that gold will pull back upon reaching this zone and test support in the 2915-2910 region.
In terms of short-term trading, I will continue to short gold in batches above 2930, using the 2936-2940 resistance zone, and expect a retracement towards the 2915 area.
Bros, do you have the courage to short gold with me? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
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Penafian
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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.