Gold fell and broke through, continue to be bearish on gold
After gold rebounded and came under pressure at 2350 resistance, it fell directly, and then fell below a new low. Gold broke through and fell, and short-term bulls were weak.
The 30-minute moving average of gold has formed a dead cross downward short position. The 30-minute gold has formed a downward trend. It has rebounded weakly along the downward trend line. Now the resistance of the downward trend line is just around 2341.
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You can go short near 2340
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That's how trading is, don't think in a single way. Since gold has weakened in the short term, don't be too obsessed with the bulls.
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stop loss 2348
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Gold's short-term decline
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The 1-hour moving average of gold has begun to turn, and the momentum of the bulls has begun to decay. Gold is still under pressure at the resistance of 2350, yesterday's high. If gold does not break through 2350, shorting will be the main option.
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Gold falls short-term, short orders are making profits
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Gold failed to break through 2400, gold surged higher and fell back, and gold's daily closing line has not really been able to stand firmly above 2400, indicating that there are still many resistances above 2400.
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If gold's daily line does not break a new high, it is now a B-wave rebound. If gold cannot continue to rise, then gold may usher in a gold daily line C wave decline at any time, and then gold's daily line may still have room for a large wave of decline.
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You can short near 2390
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If you don’t know how to trade, often suffer losses, or you are a newbie, you can click on the link below my article, where I will share trading ideas every day
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The market is changing rapidly, trade your plan, plan your transaction, gold is currently at a high level, and do not pursue long positions directly when the volume and capacity are insufficient. Once gold's daily C-wave decline comes, gold shorts will enter unstoppable territory again and become unstoppable.