The gold price reached a peak of 3374.69 during the Asian trading session. Overall, it remains in a bullish uptrend. From the half-hour and hourly charts, the 30-day line provides support at around 3353. Therefore, when trading within this fluctuating range, it is important to note that in a situation where the bullish trend is strong, short selling should be conducted with a light position.
Trading Strategy:
BUY@3353-57
TP:3370-75
SELL@3375-80
TP:3360-63
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Trade closed: target reached
The short-term support level of 3365 is a minor resistance level. The long positions we entered at 3345/3353/57 can now choose to exit in batches or directly exit. If exiting in batches, the target profit (TP) remains at 3370-75. The trend remains bullish
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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.