Professional-Trading-Plan

Extremely weak and directly empty

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
In addition to the Federal Reserve downplaying interest rate hike expectations and improving economic data, the recent rise in the U.S. dollar has also been fueled by the weak declines in the non-U.S. euro and the pound. Raising and lowering interest rates have become the trigger for global currency depreciation. The Federal Reserve still hints at a dilemma. If the authorities want to be re-elected, it cannot just cause inflation to rise and the economy does not improve. So who will elect him? So now inflation will be maintained for you. The hype continues in one area. At the same time, economic data must continue to report, making the economy prosperous under the government, and at the same time building momentum for the election, so the recent rise in the US dollar is also more necessary.





There was no greater expansion of the situation over the weekend, there was no risk aversion, and gold opened lower. Nowadays, the market has become a rollercoaster with wide fluctuations. As long as you don’t chase the rise and fall, there is a high probability that there will be profit opportunities in both the long and short positions, and the fluctuations are 30 to 60 US dollars. In the past, everyone looked forward to the non-agricultural market every month, but now it is almost every day. , with such big fluctuations, the range and space of long and short changes have increased. Even if you talk about technology, the long and short news in the market will magnify the fluctuations at any time, and it is nonsensical. In general, gold bulls are still following the risk and hedging. They repeat the adjustment every morning in the European market, and then the US market turns V to recover in the middle of the night. Even if it falls, it can recover quickly. So today's operation is relatively simple, and talking about technology now is pale. Yes, it's nothing more than controlling the rhythm and position, it's about looking in one direction.



After the opening of this trading day, the market price continued to fall, and 2360 failed to play a supporting role. Pay attention to several aspects for the day's layout. First, we have always emphasized the correction of the current market positioning. Continuous and repeated detours are to respond to the previous rise. The correction of the form has a solid range, suppressing 23600 and supporting 2320. We do not think that the correction rhythm is interrupted until either side is broken.

The next operation is relatively simple. After the unilateral decline in the morning, the gold price did not give any chance to rebound, not even a rebound of 8 US dollars. We can basically judge that the market is extremely weak. In this case, We will not consider any long-order strategies. All long orders should be held down. The operation is mainly high-altitude, and you can even directly pursue short positions. The support below focuses on the 2330 line, and the support above is also suppressed at 2350.



Continue to go short after rebounding at 2350, stop loss 56, target 2340-30. The current price has reached the strong support position of 2330 line, 2330 line can be long, stop loss is placed at 2325, target 2350-60. If the 2325 line continues to fall below, Then any long orders will not be considered, and the lower target will be to test 2300.
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