In the previous article, we successfully predicted that gold prices would fall if they failed to break through 3370. This proved to be the case, with gold prices ultimately falling to our ultimate target of 3330.
From the 1-hour chart, it's clear that 3330 is a key support level. Gold prices rebounded from the decline on the 12th precisely at this level. Now that gold has stabilized after hitting 3330 again, will it rebound again?
I personally believe that a rebound around 3330 will occur, but the strength will not be too strong. It's important to be prepared to cash in on your gains.
🏆Trade setup is as follows:
📈Buy near 3330
✅Target 1 - 3350
✅Target 2 - 3360
🛑Stop loss 3320
📣If you have different opinions, please leave a message below to discuss
From the 1-hour chart, it's clear that 3330 is a key support level. Gold prices rebounded from the decline on the 12th precisely at this level. Now that gold has stabilized after hitting 3330 again, will it rebound again?
I personally believe that a rebound around 3330 will occur, but the strength will not be too strong. It's important to be prepared to cash in on your gains.
🏆Trade setup is as follows:
📈Buy near 3330
✅Target 1 - 3350
✅Target 2 - 3360
🛑Stop loss 3320
📣If you have different opinions, please leave a message below to discuss
Trade active
As expected, the gold price fell back to 3330 and then rebounded, with the highest point reaching 3348. The overall rebound strength was not strong, which is very consistent with my prediction in the article.I mentioned being prepared to take profits at any time. Given that the gold price rebound is becoming increasingly weak and the lows are gradually moving lower, I am planning to take profits early.
I will consider executing a new trading plan when the gold price reaches resistance or support levels.
Trade closed: target reached
The gold price eventually reached its target of 3350, reaching a high of 3358.I'll outline today's trading strategy later, so stay tuned.
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🔥🔥🔥Welcome to join
Get free daily high-quality trading signals
Free Gold Signal Channels📲:t.me/Quality_Gold_Signal
Get free daily high-quality trading signals
Free Gold Signal Channels📲:t.me/Quality_Gold_Signal
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.