We successfully closed our long position near 4736 at around 4762 to lock in profits. Gold has now retreated to the 4740-4720 area. I think this could very well be another opportunity to go long on gold.
Although gold gradually retreated after touching the 4840-4860 area, seemingly indicating a lack of sustained bullish momentum, we can see that it has maintained its position above 4730 during the pullback, not to mention the considerable distance from 4700. Therefore, gold is still maintaining a clear upward-trending structure. I believe the pullback in gold prices is a sign of a healthy trend. Gold prices surged today due to news-driven factors, breaking through key resistance levels such as 4700 and 4800. The current pullback is a healthy technical correction, which is more conducive to maintaining the current upward trend.
Therefore, I believe that the current pullback will not pose a systemic risk. After multiple pullbacks and tests of the lower support, if it can still remain above 4730-4710, I think the bullish sentiment will be even stronger. The rise in gold may have just begun, and it is expected to break through the 4850-4870 area, and may even continue to rise to the 4900 or even the 4950 area.
Short-term technical support levels: 4740-4720 / 4700-4680
Short-term technical resistance levels: 4850-4870 / 4900-4920
Therefore, in short-term trading, I believe we can continue to consider trying to buy gold within the 4740-4720 range.
Although gold gradually retreated after touching the 4840-4860 area, seemingly indicating a lack of sustained bullish momentum, we can see that it has maintained its position above 4730 during the pullback, not to mention the considerable distance from 4700. Therefore, gold is still maintaining a clear upward-trending structure. I believe the pullback in gold prices is a sign of a healthy trend. Gold prices surged today due to news-driven factors, breaking through key resistance levels such as 4700 and 4800. The current pullback is a healthy technical correction, which is more conducive to maintaining the current upward trend.
Therefore, I believe that the current pullback will not pose a systemic risk. After multiple pullbacks and tests of the lower support, if it can still remain above 4730-4710, I think the bullish sentiment will be even stronger. The rise in gold may have just begun, and it is expected to break through the 4850-4870 area, and may even continue to rise to the 4900 or even the 4950 area.
Short-term technical support levels: 4740-4720 / 4700-4680
Short-term technical resistance levels: 4850-4870 / 4900-4920
Therefore, in short-term trading, I believe we can continue to consider trying to buy gold within the 4740-4720 range.
تم فتح الصفقة
As planned, I bought gold around 4730, and during the pullback, I continued to buy gold in batches around 4715 and 4700, using the aforementioned support level as a reference. I expect gold to rebound as expected after testing the support and reach 4730- 4750.أغلقت الصفقة: تم الوصول للهدف
Good news: After closing out the previous long position and taking profits, gold has pulled back again, giving us another opportunity to go long on gold. I started going long on gold around 4731 according to my trading plan. As gold continued to retrace, I added more long positions in batches around 4715 and 4700, using the support area mentioned above. I also adjusted the original TP: 4750 to 4732. The reason for changing TP: 4732 is simple: to ensure that the long position with the initial entry price of around 4731 would not incur a loss. It's clear that gold has just successfully hit TP:4732 during its rebound. By sticking to the trading plan, my long position has successfully turned the tide. If you follow my above long-term trading strategy, you should be able to make a considerable profit in two long trades. It's great to witness this wonderful moment with everyone. Congratulations!
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.