Don’t be afraid of pullbacks, we can still go long on gold

29 Nis

Fundamentals:

1. First, pay attention to the dynamics of Trump and the Federal Reserve;

2. Pay attention to whether the geopolitical conflicts escalate, including the situation between India and Pakistan, Russia and Ukraine, and the situation between the United States and Iran.

Technical aspects:

Compared with yesterday, although the bullish momentum is weak, it has not fallen below the support of the 3005-2995 area, and even failed to fall below 3000. In addition, as gold fluctuates and falls, there is a large amount of buying funds entering the market in the short term. In the recent short-term structure, gold has built a very obvious turning point near the 3300 area. Therefore, gold may still rebound to above 3330 before NFP.

Short-term trading strategy:

You can still consider continuing to go long on gold in the 3310-3300 area, TP: 3325-3335

29 Nis

İşlem aktif

For the second time, we followed the plan to do long gold in batches in the 3310-3300 area. Specifically, we divided it into 3 batches to do long gold near 3309, 3305 and 3303. After adding positions, we adjusted the entire TP to: 3320. Gold just happened to hit TP: 3320 during the rebound and fell back again. We made very good profits on both gold long trades today, and I will look for the right opportunity to continue trading gold later.

29 Nis

İşlem kapandı: hedefe ulaştı

Our gold long position just ended by hitting TP: 3320. It was a very good short-term trade. If you followed my trading strategy, you must have made a very good profit. Gold has just failed to effectively fall below 3000 during the decline. There is strong buying support below. Before the NFP market, gold may continue to rebound. Therefore, the above trading strategy of buying gold in the 3310-3300 area is still valid!