Gold prices are about to cause a sharp correction. Be prepared t

Gold prices are about to cause a sharp correction. Be prepared to sell high

Gold's rise. I'm actually not surprised. Friends who follow me know that I have been bullish on gold since last week, as mentioned in my previous views. Gold is like a very strong bull

There are several reasons:
First, to put it simply, it is the rising risk aversion sentiment in the market. War sentiment in the Gaza Strip has intensified due to geopolitics. Although there is an armistice agreement. But some people disagree. People pursue self-preservation. To combat inflation, choose to buy or hold gold. as a hedging tool. That is, the market demand for gold is growing. This is the dominant factor in the holidays
Second, in the case of currency devaluation. There are no more people in the market willing to hold currency. More money needs to be paid to buy goods. Emotionally unwilling to continue holding currency. Instead, he turned his attention to gold coins, which have been the currency since ancient times. Demand is rising again.
Third, the market environment. Bulls continue to show an offensive trend.

Combining the above three points is the subsequent impact of holiday news. Because the market is closed, it is not shown on the market. But once the market opens. These factors will be reflected on the chart through candlestick charts. So I'm not surprised. And I think now is a good time to sell gold.

The technical indicator MA indicates that the market is still in a strong upward trend. 1 hour chart or 4 hour chart. The bullish trend is diverging. But there is still a correction of at least $10-20. Look at the short-term 30-minute trend. Small support exists below the market at 2245. However, the market has entered an over-rising stage, and the technical correction position is at 2220. With prices currently hovering around 2260, I think this is a good time to sell.

I personally sell gold at the position of 2261, stop loss at 2270, and take profit at 2253. First, I will target the short-term pullback and take profit.

It’s not like you just make a deal and it’s no longer ongoing. Instead, it is about continuing to accumulate profits. Remember to control trading risks and do not sell all positions. Control the reasonable selling quantity through the balance to conduct reasonable transactions.

Trade active:

Trade active:

At present, gold has reached the market price of 2256. If you follow my signal and sell, you can currently earn a price difference of 5 US dollars.

Trade closed: stop reached:

Reach the target location and close the order. Stay tuned and wait for the next trading opportunity.

Trade active:

A minor phase of technical repairs has been completed. It is expected that the next repair will be carried out in the short term, but there are some markets that have not yet started. Therefore, it is somewhat difficult to make significant corrections.

Trade active:

At present, gold is still continuing to fall. At the current price of 2246, there is no opportunity to buy for the time being. Let's first observe the small support level of 2243.

Trade active:

Judging from the 30-minute trend chart, the market still has a downward trend. Therefore, selling gold is still a reasonable choice at the moment. The range of tp2235-2240 is more reasonable.

Trade active:

Gold is currently in a continued downward trend, and selling gold is a very critical moment.

Trade closed: target reached:

Perfect profit. Today is a good time to trade