Yesterday, gold made a profit of over 2864, but continued to decline
I only made one order yesterday, went long based on the 1-hour moving average, exited based on the 4-hour moving average, and gained profits! Now that the gold price has risen to the moving average concentration zone, it is impossible to chase after the bulls, and the pullback continues to be high.
The gold price has been continuously rising in the 1-hour cycle, stabilizing at the 20 and 30 moving averages and breaking through the 60 moving average. The upward trend is unbreakable along the way. So the most stable operation today is to buy on dips above the 60 moving average.
The current surge in gold prices is still above the trend line, steadily rising step by step. Although it has reached the pressure zone of the 4-hour moving average, it is absolutely not advisable to go short.
In the world of trading, patience is crucial wisdom. The market trend is like undulating waves, constantly changing but with hidden patterns. Do not rush for success and blindly continue to place orders. Every trading decision should be based on careful consideration and precise timing. Only by patiently waiting for the right opportunity can we steadily win in the trading wave.
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