Gold under pressure falls back, early rebound continues short selling!
Gold has been rising as a safe haven in the past few days, but it has been under pressure since the 2927 line began to decline, and gold bears have started to exert force again. If the safe haven situation is eased, then gold bears will make a comeback.
The 1-hour moving average of gold is now starting to diverge towards the bullish cross, but gold is starting to rise and fall back. In addition, there is a lot of data in the second half of this week, and the shape of the moving average of gold is also prone to change. Gold rebounded around 2920 in the late night of the night and continued to fall under pressure. We also suggest that the rebound around 2920 will continue to be bearish, but it is too late, so we can only miss it. However, there are many market opportunities. Gold rebounded at 2927 in the morning and continued to hit a high point, and the rebound around 2920 can continue to be bearish.
The way of trading is to abandon personal preferences, and this preconceived subjective consciousness will eventually be taught by the market. The market is always right and follows the market. Instead of overthinking, the road is simple, don't overthink it. Market changes will always have traces to follow, requiring a discerning eye or someone with such an eye.
Morning trading strategy:
Sell gold 2920 short, stop loss 2930. Target 2900-2890;
Disclaimer: The above is purely a personal opinion sharing and does not constitute operational advice. Investment carries risks, and profits and losses are borne by oneself.
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