The price of gold continues to fall. The three consecutive negative trends on the daily level have not stopped. The price of gold will continue to maintain this pattern of shock and decline. In addition, the one-hour trend has fallen below the previous rising trend line support. A new round of gold prices below. The space has been opened. In terms of operation, we will rely on the one-hour turning point pressure of 2055 to carry the short position to the end!
After gold fell below the key support of 2055 during the day, we changed our thinking to focus on high altitude. Of course, there are endless bargain hunters, but as a professional analyst, I think the most important thing is to firm up our thinking. Also as a Investors, if you like grass on the wall, the final result will only drift in the wind! Gold price falls below 2055! The one-hour trend connects the recent high of 2088 and the second high of 2078 to form a downward trend pressure line. The current pressure is around 2070! When the gold price fell below the previously rising trend line 2055 during the day, it also converted into an effective pressure point. In the evening, when the gold price approaches 2055 for the first time, you can start to place short orders. If the recent rebound reaches around 2070, you can short again!
Trading strategy: short gold 2055, stop loss 2063, target 2040
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Gold is continuing to fall
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A rebound is followed by a decline
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