Data Week: Can Gold Reach New Highs? Strategy Update
On Monday, gold experienced a rise followed by a fall, a surge and subsequent pullback. We repeatedly warned of resistance around 4350, advising against chasing the price higher and guarding against a pullback. Gold's movement aligned with our expectations, and long positions entered in batches at support levels during the US session yielded substantial profits.
Today brings the crucial non-farm payroll data. Gold is likely to maintain a high-level range-bound trading pattern before the data release. Continue to be cautious of a potential pullback after a surge, and avoid chasing the price higher. Current price action suggests limited upside potential, with significant resistance remaining. Aggressive traders can consider shorting at the 4320-30 resistance level during the Asian and European sessions, while more conservative traders can watch the 4338-48 level.
Support is seen at 4275-85, where long positions can be entered in batches, with strong support around 4265.
Market conditions change rapidly, and it's crucial to follow the market's rhythm. Currently, the market is experiencing wide-range fluctuations, but without breaking new highs, the situation becomes precarious.
True high-level trading isn't about sifting through vast amounts of information, but about extracting the essence, focusing on the most effective signals, repeatedly applying them, and continuously optimizing them. The simpler the strategy, the more stable the results. The more focused the execution, the more profitable you'll be amidst market volatility. Our consistent returns are the best proof of this.
On Monday, gold experienced a rise followed by a fall, a surge and subsequent pullback. We repeatedly warned of resistance around 4350, advising against chasing the price higher and guarding against a pullback. Gold's movement aligned with our expectations, and long positions entered in batches at support levels during the US session yielded substantial profits.
Today brings the crucial non-farm payroll data. Gold is likely to maintain a high-level range-bound trading pattern before the data release. Continue to be cautious of a potential pullback after a surge, and avoid chasing the price higher. Current price action suggests limited upside potential, with significant resistance remaining. Aggressive traders can consider shorting at the 4320-30 resistance level during the Asian and European sessions, while more conservative traders can watch the 4338-48 level.
Support is seen at 4275-85, where long positions can be entered in batches, with strong support around 4265.
Market conditions change rapidly, and it's crucial to follow the market's rhythm. Currently, the market is experiencing wide-range fluctuations, but without breaking new highs, the situation becomes precarious.
True high-level trading isn't about sifting through vast amounts of information, but about extracting the essence, focusing on the most effective signals, repeatedly applying them, and continuously optimizing them. The simpler the strategy, the more stable the results. The more focused the execution, the more profitable you'll be amidst market volatility. Our consistent returns are the best proof of this.
Trade active
Our support levels provided during the Asian session were quite accurate. Long positions entered in batches between 4275-85 are currently profitable. Those who followed our advice should monitor their positions and consider selling if they are profitable.I focus solely on short-term trading and clear market analysis. In short-term trading, there is no market that rises or falls forever; there are only correct entry points at any given moment. Find the rhythm and follow the trend. This is the essence of trading. If you need to recover significant losses or obtain precise trading signals, please contact me.
Trade closed: target reached
US non-farm payrolls and retail sales data will be released later, which will likely cause significant fluctuations in gold prices. We are closely monitoring the release of this data. Please note the resistance level around 4305-4315, with strong resistance around 4325. Investing is a long-term process and a journey of self-improvement. Haste makes waste, and wealth is not easily obtained. To become a hunter in the investment forest, you must be patient, or you will become the prey! No amount of empty talk can compare to tangible profits, or perhaps even my ability to help you overcome long-term challenges. Perhaps some of my trading insights can help you find the right investment direction.
I love trading, I have a successful mindset, I have the best trading strategies, and I have sound money management.
t.me/Henorylau_01z
t.me/Henorylau_01z
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I love trading, I have a successful mindset, I have the best trading strategies, and I have sound money management.
t.me/Henorylau_01z
t.me/Henorylau_01z
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.