Intraday Trading Adjustments:
1. Closed a short position near 3470 (entry price: 3480), one of the lowest entry prices for a planned swing trade, locking in a profit of nearly 100 pips.
2. Closed a short intraday long position near 3491 (entry price: 3478), locking in a profit of 130 pips.
3. Immediately after closing the long position, added another short position near 3491, still planning a swing trade.
Current Position (Swing Trading Plan):
I continue to hold short positions with entry prices near 3493, 3505, and 3491. For swing trading, the first target area to consider for a pullback is 3460-3450, followed by 3435-3425.
Market Analysis:
While gold has not yet seen a significant decline, it has shown initial signs of topping out. A double-top formation with 3508 as the apex and 3495 as the secondary apex may form a significant resistance level in the short term, prompting a further pullback in gold. According to the current structure, as long as gold remains below 3595, it will help to successfully establish a double top structure; in addition, DXY has a need to continue to rebound in the short term, which is not conducive to the continued rebound of gold to a certain extent, and has a certain suppressive effect on gold.
Therefore, at this stage, I will continue with the swing trading plan and hold the above short positions. The primary target of the retracement is considered to be the 3460-3450 area. If gold falls below this area during the retracement, it may even continue to the 3435-3425 area.
1. Closed a short position near 3470 (entry price: 3480), one of the lowest entry prices for a planned swing trade, locking in a profit of nearly 100 pips.
2. Closed a short intraday long position near 3491 (entry price: 3478), locking in a profit of 130 pips.
3. Immediately after closing the long position, added another short position near 3491, still planning a swing trade.
Current Position (Swing Trading Plan):
I continue to hold short positions with entry prices near 3493, 3505, and 3491. For swing trading, the first target area to consider for a pullback is 3460-3450, followed by 3435-3425.
Market Analysis:
While gold has not yet seen a significant decline, it has shown initial signs of topping out. A double-top formation with 3508 as the apex and 3495 as the secondary apex may form a significant resistance level in the short term, prompting a further pullback in gold. According to the current structure, as long as gold remains below 3595, it will help to successfully establish a double top structure; in addition, DXY has a need to continue to rebound in the short term, which is not conducive to the continued rebound of gold to a certain extent, and has a certain suppressive effect on gold.
Therefore, at this stage, I will continue with the swing trading plan and hold the above short positions. The primary target of the retracement is considered to be the 3460-3450 area. If gold falls below this area during the retracement, it may even continue to the 3435-3425 area.
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.