Today, gold rebounded to 2458, and then fell all the way, hitting the lowest point near 2365. We made a lot of profits in both long and short transactions today. First, we shorted gold near 2441, and gold hit TP: 2425 during the decline; when gold rebounded again, we shorted gold again near 2445 and 2452, and then we closed the position manually near 2439; then we chased short gold near 24117, and gold hit TP: 2398 during the decline; when gold fell to 2364 and showed signs of stopping the decline, we went long gold near 2366, and gold hit TP: 2380 again during the rebound. Then we chased long gold near 2390, and we closed the position manually near 2396. https://www.tradingview.com/x/58EXuGQR/
At present, gold continues to rebound to around 2410. I think it is impossible for gold to form a strong reversal in a short period of time after a sharp decline. Gold will continue to fall after the rebound. At present, gold is facing short-term resistance in the 2413-2415 area. If gold cannot form an effective breakthrough, it will continue to fall!
So in terms of short-term trading, I still insist on shorting gold in the 2410-2415 area. What we have to do next is to wait for the rapid growth of profits!
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Gold encounters resistance near 2410 and cannot effectively break through, and gold will continue to fall
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We have just closed our short position near 2401 and are waiting for gold to rebound before we go short again.
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Gold is in a narrow range again, and there are no good trading opportunities for the time being.
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When gold rebounds to this area again, we can short gold again.
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At present, gold is beginning to fluctuate. We are not overly bearish or bullish on gold for the time being.
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