XAUUSD: Buy@2716-2700 TP2728-2738
Updated
Today's fluctuations in gold have been massive, dropping from 2758 to 2708. Anticipating a decline, I mentioned continuing to short in my initial strategy, but I didn't expect the bears to be so aggressive, driving the price down by $50. Given this situation, even if there are sudden negative news reports today, it's unlikely that gold will drop more than $15 again.
Therefore, from now until the U.S. market opens tomorrow, the trading direction should focus on buying. I believe that before Friday's close, the price could at least return to 2732, or even higher. However, when trading, we shouldn’t set our take profit too high; we should leave some buffer space.
The rise should not be abrupt but rather a gradual upward movement. For those who prefer not to trade frequently, after buying, setting the take profit around 2728 should be sufficient. As for future trades, we can decide based on market conditions.
Therefore, from now until the U.S. market opens tomorrow, the trading direction should focus on buying. I believe that before Friday's close, the price could at least return to 2732, or even higher. However, when trading, we shouldn’t set our take profit too high; we should leave some buffer space.
The rise should not be abrupt but rather a gradual upward movement. For those who prefer not to trade frequently, after buying, setting the take profit around 2728 should be sufficient. As for future trades, we can decide based on market conditions.
Trade active
The long position has been closed near 2722. If you grasp the market well today, the profit should be the sum of a normal week.Trade active
Prices have retraced a bit, so bulls can consider re-entering the market. However, since the current level isn't particularly low, it's best not to buy too much at once; starting small is advisable. If there's a further pullback, you can add more, but if it moves up directly, it's wise to close your position and wait for the next opportunity. Steady, cautious trading is crucial, as wealth doesn't accumulate overnight—take your time and stay patient.Trade active
Recently, selling at high levels is the main trend
Our channel offers the latest market analysis, accurate trading signals, and practical experience sharing. Whether you're a beginner or an experienced trader, you'll find valuable insights and strategies here.
t.me/+8mDeSfnZUvE3OGU8
t.me/+8mDeSfnZUvE3OGU8
Related publications
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.