Gold continued to fall today, but it is still in the range of shock market. According to the current strength of the decline, the room for gold to fall should be limited. After gold fell to the low point of 2310-2305 area, it is obvious that the willingness to buy is gradually increasing! And gold gradually began to show signs of counterattack in the short term. However, with the current market momentum, it will take time for gold to rise. https://www.tradingview.com/x/MlfsHnnb/
So in terms of trading, we can first consider short-term long gold. After all, shorting gold now does not have much profit space in the gold fluctuation range. Therefore, we can now boldly go long gold in the 2310-2305 area and patiently wait for gold to rise! Of course, market trading must be forward-looking, not just focusing on the market that has already come out!
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Gold rebounded again after touching 2306, and our long position has begun to make profits
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Gold rebounded as expected, and our long position has now made a nice profit
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Gold rose sharply on the back of retail data, and our long position has perfectly hit the TP
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After gold touched 2324, it fell again. I believe there will be good trading opportunities later.
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Don’t be in a hurry to short gold just yet, there is still room for gold to rise.
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