Trader_Manuel

Gold will also test the 2180 area, don’t rush to chase long gold

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Dear friends, there must be only one question for everyone now, and that is, will gold continue to fall?

I think gold will continue to fall, because gold fell back immediately after touching 2198, and the candlestick body still closed below 2195, once again showing a long upper shadow line, so the pressure above is still relatively obvious. In addition, gold only touched around the 2184 position during the decline. I think the gold's step back is not in place, so gold still needs to continue to step back. I think it will at least test around the 2180 position again.

So I think gold still needs to continue to adjust. Of course, we still hold a short position in gold and are still making good profits overall. If you follow my trading strategy, I believe you will also have good profits like me. We can continue to hold it and wait for gold's deep correction, so that our profits will be better!

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Gold has been unable to break through upward, so the demand for gold to step back becomes more clear
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Do you think gold will pull back?
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Gold will also test the 2180 area, don’t rush to chase long gold
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Gold has never been able to break through the 2195 position in the short-term rebound. Once gold consumes too much kinetic energy, gold will turn around and fall.
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Gold's rise once again encounters resistance, increasing the strength of gold's callback signal
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The short energy of gold has not been fully released, and there is a possibility of further correction of gold.
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Gold fell sharply as expected
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There must be a need to step back before gold rises, and the short-term support below is in the 2184-2182 area
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If gold cannot break through the 2910-2912 area, it is a signal for gold to confirm a correction.
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If gold cannot break through the 2910-2912 area, it is a signal for gold to confirm a correction.
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The strengthening of the US dollar has put gold under pressure to a certain extent. Gold has repeatedly hit 2200 and failed to surpass it. There is a demand for a retracement in the short term.
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