Gold prices failed to establish a clear trend today and generally remained in a range-bound trading pattern. Gold encountered resistance near 5145 during its rebound and then fluctuated downwards, proving that gold needs to accumulate more momentum before it can break upwards, which also creates conditions for the current oscillating trend.
However, recent price action shows that gold has repeatedly rebounded after touching the 5070-5050 area, with multiple long lower shadows on the candlestick chart. This indicates that during the pullback, some bargain hunters entered the market, pushing gold prices up and creating strong buying support. Therefore, gold is expected to accumulate more momentum and liquidity in this area, making it easier for it to break out upwards. If gold finds support and rebounds effectively in this area, it may retest the 5140-5160 range in the short term.
Therefore, in short-term trading, I prefer to continue trying to go long on gold in the 5080-5060 range. However, it should be noted that the NFP data will be released in half an hour, which may exacerbate short-term volatility. Be sure to set up protection measures during trading!
However, recent price action shows that gold has repeatedly rebounded after touching the 5070-5050 area, with multiple long lower shadows on the candlestick chart. This indicates that during the pullback, some bargain hunters entered the market, pushing gold prices up and creating strong buying support. Therefore, gold is expected to accumulate more momentum and liquidity in this area, making it easier for it to break out upwards. If gold finds support and rebounds effectively in this area, it may retest the 5140-5160 range in the short term.
Therefore, in short-term trading, I prefer to continue trying to go long on gold in the 5080-5060 range. However, it should be noted that the NFP data will be released in half an hour, which may exacerbate short-term volatility. Be sure to set up protection measures during trading!
Trade attivo
As planned, we went long on gold in the 5080-5060 range before the NFP data release, with an actual entry price around 5072 and a TP of 5100. Although gold briefly dipped to around 5065, it quickly rebounded. Currently, influenced by the positive NFP data, gold has surged to around 5124, perfectly hitting my target TP of 5100. We successfully locked in nearly 280 pips of profit!
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.