In this round, I choose to short gold!

1 Jul

Gold rose to around 2340 last Friday and then fell back, which is exactly the 61.8% golden section of 2368-2293, so there is still relatively strong resistance above gold. At present, gold has rebounded to above 2330 again. Although it has destroyed the short-term downward momentum, the continuity is not strong and the rebound is not strong enough, exacerbating the gold shock.
https://www.tradingview.com/x/K1PWfFWK/

In addition, it can be seen from the short-term structure that there are obvious signs of a head and shoulders top structure in the short-term structure, and the shoulder position is near 2331. Of course, even if gold rebounds strongly, the rebound high point last Friday limits the rebound space, so the upper space is obviously not large. Therefore, in short-term trading, I still tend to short gold at a high level! First pay attention to the resistance of 2335-2340 above, and first pay attention to the support of 2320-2315 below!

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1 Jul

Dagangan aktif

Short gold around 2336

1 Jul

Dagangan aktif

Gold fell as expected after hitting around 2338

1 Jul

Dagangan aktif

I just mentioned in my trading idea that a head and shoulders top structure appeared in the short-term structure, and the shoulder structure was near 2331, and the high point last Friday limited the rebound space. So I just shorted gold near 2329 and 2336. Gold's lowest has fallen back to around 2325

1 Jul

Dagangan aktif

Continue to short gold after it rebounds

1 Jul

Dagangan aktif

If gold rebounds to the 2332-2335 area, we will start shorting gold again

1 Jul

Dagangan aktif

Wait patiently for gold to rebound, and then continue to short gold