Trader_Kevinn

Short-term long gold?

Short
Trader_Kevinn Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Everyone in the channel today has reaped very good profits. Let's toast and celebrate together!

At present, gold is trading near 2015 and has a narrow fluctuation.Will gold continue to fall at this position?

I don't think gold has the conditions for a sharp drop in the short term, because once it falls, then the next target is 1983, and the medium-term target is 1950.So there will not be such a big room for decline in a short period of time.In other words, gold is still expected to rebound in the short term.
In the short term, gold has tested the support of the 2012-2010 area many times, and no effective break has been formed, so there is still a certain amount of support in this area.So in this position, it is actually possible to go long on gold in the short term, and it is very likely to make a profit, but the rebound expectation should not be too high for the time being.So interested friends can do the following:

XAUUSD: @ 2013-2015 Buy, TP: 2020-2022.

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Currently gold has rebounded above 2016 and we have made some profits
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Continue to hold, wait for the income to expand
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2010-2012 support is still valid
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Gold can increase positions to buy gold in 2011-2012, and then adjust TP to 2017-2018
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