Gold rebounded again after a pullback to 2452, but during the rebound process, it only reached around 2475. Compared with the high point of 2484, the high point is gradually moving down, so the low point should also gradually fall. From the structure, gold is very likely to build a secondary peak in the 2475-2480 area. Once the construction is successful, the decline of gold will trigger a sell-off, and gold is likely to usher in a waterfall-like decline in a short period of time! https://www.tradingview.com/x/1PkjNPvI/
Moreover, after gold rose rapidly to around 2484, short positions were basically swept away, and the market was enthusiastic about going long, especially when gold rose by $2, the bullish target could be set at 2500. So I have every reason to believe that gold is suspected of tempting to go long during the rebound. Then gold is likely to be brewing a downward trend to eliminate most of the long positions in the market and increase market liquidity!
I currently still hold a short position near 2478, and the target is still in the 2430-2420 area. Let us wait and see, see you at 2430!
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Trading requires patience. As long as the direction is good, wait patiently for gold to plummet.
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The current trend of gold is actually similar to the trend when gold hit the 2450 high area on May 20th! As long as gold refuses to go above 2470, the downward trend of gold is obvious!
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I am very optimistic about gold falling back to the 2430-2420 area. If you have the opportunity, you can short gold in batches in the 2470-2480 area.
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Gold is moving towards our goal, come on!
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2465 will become short-term resistance!
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Gold is about to try to fall below 2450, and the downward trend of gold will be further established
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Bros, gold has fallen below yesterday’s low of 2450.
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Bros, gold has fallen to around 2440. Is it still far from our target area of 2430-2420? Have you followed me and shorted gold in the 2470-2480 area?
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If gold falls below the 2400-2438 area, then gold will accelerate its decline to our target area, and it is even possible to fall to the 2410-2400 area! Our light is coming!
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Brothers, have you ever witnessed magical magic?
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Brothers, you can laugh at me for being bearish on gold the day before yesterday and yesterday, but you can’t laugh at me today, gold has hit the target area accurately: 2430-2420
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