Gold 2642 buy multiple orders and enter the market, takeoff is imminent
On Friday, gold stumbled and was still suppressed by the daily cycle's 60 moving average. On Friday, I bought more gold at 2650, but also broke even at 2650.
Gold advances with retreat, and the pressure at the 60 day moving average of this daily cycle has been exhausted. From the perspective of the 4-hour cycle of gold, the bottom shape of gold has been constructed and confirmed after breaking through 2640, which is the standard triple bottom structure. So this time I entered the market with multiple orders at the bottom neck level of 2642, and this time the gold is going to break through the previous high of 2665. Let's wait and see.
The most important thing in trading is direction. Although gold has fallen, there is no clear turning signal, and the 4-hour cycle is still bullish. Therefore, if you continue to go long, you must not think that gold is about to turn just because it has fallen by $20. When doing trading, there must be directional judgment standards. My judgment of direction relies on morphological structure, moving averages, trends, and some fundamentals. How about you?
Trading strategy: Buy long at gold 2642, stop loss at 2632, target at 2665
Personal investment sharing requires caution when entering the market
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights