Gold traded in a range-bound pattern during yesterday's European and American sessions, closing with a bearish doji candlestick on the daily chart. This indirectly indicates the continued struggle between bulls and bears in the short term. Without a sustained upward trend, the range-bound trading is likely a way to digest excess energy from both sides. After opening higher, it reached a high of around 4169. Continuing from yesterday, the downward channel formed by the previous historical high will likely shift slightly lower to around 4170-4180. This level is crucial for the future direction of the market. A break above this level could potentially push the price up to 4200. Conversely, if this level holds, it would suggest that the current rise is not driven by bulls but rather a prelude and correction by bears to prepare for a potential further decline. The current support level is around 4110-4100, and the intraday price action will be particularly important. If gold breaks through the resistance level today, the bullish momentum will continue. Conversely, the bearish correction may also come to an end. If gold rebounds to around 4165-4180 today, consider shorting with a target of around 4150-4130.
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Trading is actually not complicated. As long as you truly love this market, it will reward you. I don't pursue exaggerated words or exaggerate emotions. I only focus on real trading and a clear rhythm. There is no such thing as an eternal bull or bear market, only the right direction in the present moment. Find the rhythm and follow the trend. This is the essence of trading.If you lack the ability to flexibly adapt to the market and are not good at adjusting your trading mindset and rhythm in a timely manner, you can pay attention to bottom notifications for more specific operational details and strategy updates. Let's work together to flexibly and steadily pursue more profits in the unpredictable market!
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The final hurdle in trading is human nature. Many people possess extensive technical knowledge and even a sound trading philosophy, yet they consistently fail to achieve stable profits. This is because they are trapped by the one-sidedness of their systems, neglecting the underlying logic and deeper influencing factors. Trading is not merely a technical issue but also a cognitive one. Truly mature traders must be clear-headed and decisive in every buy and sell, carefully analyzing current market trends to determine if they align with their profit model. If they do, they execute; if not, they patiently wait. The key to trading is not seizing every opportunity but controlling one's emotions and steadying one's actions. When a true opportunity arises, one should act decisively without emotional fluctuations. Only in this way can one achieve truly stable profits.I will go all out for every cooperating friend. Once I trust you, I will speak with results. I don't promise huge profits, but steady profits. Many people have done it, and you can do it too.Free Witness Telegram Group:t.me/TP_Daniel123
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I will go all out for every cooperating friend. Once I trust you, I will speak with results. I don't promise huge profits, but steady profits. Many people have done it, and you can do it too.Free Witness Telegram Group:t.me/TP_Daniel123
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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.
