Trader_Manuel

2340 Short gold to count money, continue to short gold

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Dear friends, this morning we shorted gold at 2340, and successfully touched TP: 2328. This was our first win of the day and a huge profit!

According to the current trend of gold, as gold fell below the rising trend line several times yesterday, the momentum of gold bulls has gradually declined. Gold currently maintains a volatile downward trend in the short term. On a technical level, candle lines continue to test lows and are suppressed by short-term moving averages. Even after touching support, the rebound strength is much weaker than before. Therefore, relatively speaking, in the short term, I still focus on shorting gold on rallies.

On the whole, gold has been oscillating back and forth within a large range recently, with no real unilateral trend. Therefore, even if I focus on shorting gold on rallies in gold trading, we must also pay attention to the trading rhythm.once you fail to accurately grasp the trading rhythm, it is easy to suffer losses in long and short transactions. At present, we focus on the resistance area of 2340-2345 at the top and the support area at 2320-2315 at the bottom.

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Trade active:
Continue to short gold in the 2340-2342 area
Trade active:
At present, gold has reached its highest level of 2346 and then fell back again. This shows that the resistance above is still strong. We wait patiently for gold to fall back.
Trade active:
Gold is currently falling sharply in the short term and has touched near the 2322 position. Our short position has hit TP.
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