A Profitable Gold Trading Strategy

Gold has reached the TP line near 1986 today, and long positions around 1975 have gained a complete victory! Currently, the candlestick is oscillating near 1978, with a small support at 1974 below, followed by 1963. A simple breakthrough provides an opportunity for us to go long, but if the body falls below, the nature changes and the support becomes resistance, making it difficult for bulls to achieve higher targets.

The area near 1974 is currently the key focus. As long as it doesn't break, the bulls remain in a strong position. If it quickly falls below, it also provides an opportunity for a rebound. In the case of a slow decline, it is difficult to quickly determine the direction.

The short opportunity point is near 1994-2000, and the long opportunity point is near 1963-1966. Both positions provide highly profitable opportunities once reached.

For the 1974-1986 range, as long as it doesn't break through unidirectionally, the trading strategy is still buying low and selling high.

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Comment:

Our judgment is absolutely correct. Gold quickly rebounded to around 1972 after hitting 1966 on Friday