XAUUSD: Continue to be bullish, buy during pullback, target 2700

17 Eki 2024

Yesterday, our strategy was to wait for a pullback to the support range before buying. The direction and prediction were very accurate. The gold price pulled back from the initial 2680, the lowest was 2666, and then rose again to the historical high of 2685. Unfortunately, the lowest point of the pullback only reached 2666, which was only 1-2$ away from our buying range of 2665-2660. Therefore, I did not trade yesterday and missed a wave of nearly 20$ of rising profits.

Now the gold price is still around 2680, and my view is still bullish, with a target of 2700.
But there is indeed a risk of pullback if you chase the rise now. After all, the historical high of 2685 has failed to break twice, and you are not sure whether it will appear for the third time.
Therefore, my trading strategy today is still to wait for the pullback to the support range before considering buying.
Depending on the situation, the buying range can be adjusted flexibly.

17 Eki 2024

İşlem aktif

Sure enough, there was a correction again. The three US data just released were negative for gold. The price of gold fell from 2688 to 2673. It is still very necessary not to chase the rise.