Gold will continue its bearish trend.Continue to short gold
Gold continued to fall after hitting an intraday high near 2372, with the lowest hitting around 2345. So far, although gold still has some rebound, it is difficult to continue its strength. Judging from the current market reaction, gold did not rise as strongly as before due to the surge in risk aversion over the weekend, but showed an inability to rebound. Then the short-term bulls may come to an end, and the short-term will be controlled by the power of sellers!
Currently, all short-term technical resistance is concentrated around the 2365 position, so the trading plan I shared today is also centered around shorting gold around the 2365 position. Although the current short-term level of gold has found support in the 2345-2340 area, we need to focus on the 2310 and 2270 positions below. Why pay special attention to these two locations? The reason these locations exist is simple. Because the vicinity of 2310 serves as a platform for the subsequent rise of the non-agricultural market. If it falls below this point, it will return to 2270. At least the probability is very high. Secondly, the 2270 position is the low point where the non-agricultural market will fall first. Once the 2270 position is broken below, Then the bears will completely control the market, and the space below will be completely opened!
Therefore, in the next transactions, I will still focus on shorting on rallies, and focus on the resistance in the 2365-2370 area.I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Currently, all short-term technical resistance is concentrated around the 2365 position, so the trading plan I shared today is also centered around shorting gold around the 2365 position. Although the current short-term level of gold has found support in the 2345-2340 area, we need to focus on the 2310 and 2270 positions below. Why pay special attention to these two locations? The reason these locations exist is simple. Because the vicinity of 2310 serves as a platform for the subsequent rise of the non-agricultural market. If it falls below this point, it will return to 2270. At least the probability is very high. Secondly, the 2270 position is the low point where the non-agricultural market will fall first. Once the 2270 position is broken below, Then the bears will completely control the market, and the space below will be completely opened!
Therefore, in the next transactions, I will still focus on shorting on rallies, and focus on the resistance in the 2365-2370 area.I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Trade active:
The current trend of gold is neither long nor short, but the overall trend is still biased toward the short side. So we need more patience in trading
Trade active:
Gold has just rebounded again above 2360 in the short term, giving another opportunity for short trading.
Trade active:
At present, gold is rebounding after falling. I will look for suitable opportunities to short gold again.
