Don't blindly follow the crowd today to guard against the decline of gold
Overnight gold continued to rise strongly, which is expected. Yesterday, we mentioned at the beginning that we were looking for a wave of upward movement, and today we will cash it out directly;
Today, the entire network is bullish, which we all knew in advance, but the hourly gold price line is obviously far away from the moving average, and returning to the moving average is inevitable. We have always reminded that the moving average is around 2720, which is our target level;
The four hour golden candlestick is also severely off track, which is an abnormal trend. This is also caused by the manipulation of market makers to buy long, with a random large bearish candlestick plummeting. Moreover, this upward trend does not fall back, creating the illusion of being bullish. Currently, all technical indicators are bullish, but who does the market maker make a profit from? The fundamental principle of trading is that the amount sold is greater than the amount bought, which is a sharp decline and the technology is directly ineffective. Can you understand?
Investment strategy: Short selling gold at 2760, stop loss at 2770. Target at 2720
Disclaimer: Investment carries risks, caution is required when entering the market
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