Reliable_Trading

In yesterday's article, I made it very clear that the market is suspected of being washed out, the purpose is to clear the shorts, and also remind to pay attention to the resistance of 3325. If there is no effective breakthrough, it will fall again.The trend of gold prices is indeed in line with my expectations. In the case of a false break but not a real break, gold fell at 3325, and the lowest reached 3287. The decline space reached 40$ this time. I believe that the short positions here have made a lot of money. Congratulations to the friends who follow the transaction.At present, the gold price fluctuates in the range of 3290-3300. I think this is a swing position and a watershed for the next price trend.If the gold price can fall below the 3290 support level, then the gold price will return to the downward trend, and will inevitably test 3250 or even 3200 again. On the contrary, if the gold price stands above 3300, it is possible to rebound again.In comparison, I think the former is more likely. Specifically, we need to pay attention to how 3290-3300 will go next to formulate a corresponding trading plan.Good luck to everyone!Gold fell further after breaking through the 3290 support as expected

Yesterday I said that I would not consider going long on gold. On the contrary, I think the risk of going short would be much smaller. It also means that if the key support of 3290-3300 is broken, 3250 and 3200 will inevitably be tested. At present, the view is clear and correct. Gold fell below the support range of 3290-3300 as expected, and the lowest level reached 3245.It stands to reason that if the support was broken yesterday, it should fall again today, and the highest level would not rebound above 3300. However, the rebound today came to around 3320, which is very abnormal, and it makes people think that someone may be washing the market.I think we can focus on the previous high of 3325 today. The resistance here will be relatively strong. As long as there is no effective breakthrough, I think gold will fall again.In yesterday's article, I made it very clear that the market is suspected of being washed out, the purpose is to clear the shorts, and also remind to pay attention to the resistance of 3325. If there is no effective breakthrough, it will fall again.The trend of gold prices is indeed in line with my expectations. In the case of a false break but not a real break, gold fell at 3325, and the lowest reached 3287. The decline space reached 40$ this time. I believe that the short positions here have made a lot of money. Congratulations to the friends who follow the transaction.

Yesterday, gold stabilized and rebounded in the 3290-3300 area as expected, and the rebound high reached 3325. Friends who bought in this area should have made money.Judging from the situation of this rebound, the bullish momentum can be said to be relatively weak. With the current strength, the rebound cannot go too far.From the chart, we can see that the high point of the rebound is gradually moving downward, and the key support area of ​​3290-3300 below is very close, and there is a possibility of breaking at any time. Once it breaks, it will inevitably test 3250 and 3200.Today I will not consider going long on gold. On the contrary, I think the risk of going short will be much smaller.In addition, today will usher in the minutes of the Federal Reserve's May monetary policy meeting, followed by speeches by several Federal Reserve officials. This is the key to speculating whether the Federal Reserve will cut interest rates or not, and we need to pay special attention.

Yesterday, affected by the extension of the 50% tariff imposed by Trump on the European Union, gold lost its momentum to rise again. Coupled with the US holiday, the market performed mediocrely and maintained a volatile trend.Today, gold continued to fall at the opening and broke the trend line support. The price came to the key 3300 integer mark.From the news point of view, the market has been disgusted with Trump's fickleness. With the increasingly serious fiscal crisis and debt crisis, the global market's confidence in US assets is also gradually falling. The continued weakening of the US dollar index can explain everything.Yesterday I said that the tariff issue is not over yet. Except for the United States and the United Kingdom, other countries have not reached a complete agreement. This may trigger the next round of trade crisis. Risk aversion will not drop too much because of Trump's remarks.In the big direction, I am still bullish on gold. In the short term, as long as it does not fall below the key support area of ​​3300-3290, gold will rise again.Therefore, for today's trading strategy, we will focus on the 3300-3290 area and buy if it does not fall below it. As long as the trend remains unchanged, any pullback is just an adjustment and an opportunity to intervene again.

Last Friday, Trump threatened to escalate the trade war again and suggested that a 50% tariff be imposed on the EU from June. As a result, safe-haven demand increased and gold rose to $3,365.After a call with European Commission President von der Leyen, Trump said that the tariffs would be postponed until July 9. As a result, gold began to fall in the early trading, reaching a low of 3,323.It can be seen that the tariff issue is still affecting the market. Since the tariff war, only the UK and the US have reached a trade agreement, and the rest have not been fully reached. A series of problems that may be caused in the future will increase safe-haven demand.Therefore, as long as the callback is in place, I think it is an opportunity to buy again. At present, the support below can focus on the 3,320-3,330 area, followed by 3,300-3,310. The lower the retracement, the better. Only after the retracement can the short-term profit be maximized.Today is a holiday in the United States. The US stock market is not open, and the volatility will not be too large. It is likely to be a volatile market, so today's trading should be closed when it is good.

Gold's performance was not very positive yesterday. After rising for three consecutive days, it finally closed with a negative line, and the price was below 3,300 points.On the one hand, the three major U.S. stock indexes retreated and the U.S. dollar rebounded. On the other hand, due to the rise in 10-year and 30-year U.S. Treasury yields, some funds were transferred.In the medium and long term, we can continue to be bullish on gold.The rise in U.S. Treasury yields will reflect the market's concerns about future economic growth, inflationary pressure, fiscal conditions, etc. If this situation cannot be changed in other ways in the future, the market crisis will re-enact, and then the U.S. stock market and the U.S. dollar will still fall, which will support the rise of gold.In the short term, yesterday's gold price failed to continue to rise, and the technical pattern has changed. In addition, today is Friday, we must be cautious in trading.I personally think that today is likely to be a volatile trend, and it is inevitable to pull up and down. This will make trading as usual difficult. If you are more cautious, you can give up today and trade next week.

Yesterday, the US 20-year Treasury auction was a surprise, the 30-year Treasury yield rose to a high point this year, the three major US stock indexes fell, and the US dollar index also fell, which triggered a rise in risk aversion in the market. At the same time, we can also see that after gold stabilized at 3,300 points, more buying intervention has occurred, further pushing up prices.Yesterday we waited for a pullback to the 3290-3300 support range to buy, and the gold price rose to 3345 at its highest. Today, the Asia-Europe session came out of the pullback ahead of schedule, and the buying opportunity came again.There has been relatively little market news in the past few days. Today we will have the weekly initial jobless claims data, and there will also be speeches by Federal Reserve officials later, which requires special attention today.Today, we first need to pay attention to the support in the 3,300-3,310 range, followed by 3,270. Retracement is an opportunity to intervene, and profits can be maximized. The upper resistance can first look at 3,320, followed by 3,340, and finally 3,360-3,370Many US data released today are bearish for gold, causing it to fall below the support level of 3,300. Next, we need to focus on the trend line support of 3,270. If it holds here, it will rebound, but once it falls below here, it will test the key position of 3,250 again.

Just now we shorted gold near the trend line 3240 and successfully hit the target of 3200. Now the price of gold has fallen below 3200 and stabilized near 3180.3200 is an important threshold. As I said before, once it falls below 3200, gold will form an M-shaped double top structure as a whole, and the price may extend to the 3000 mark.I think as long as it cannot stand above 3200 today, gold will have further room to fall, so we can continue to short based on the resistance of 3200.The operation is as follows. I suggest paying attention to the 3190-3200 area. As long as it cannot stand at 3200, you can short gold again in this range. The target is 3180 first, then 3160, 3145Gold rebounded to 3190 as expected and then fell. It has now hit the 3180 target and we are profitable again today.Our strategy of shorting in the 3190-3200 area was very correct. Gold rebounded here as expected, and then fell, triggering the final target of 3145. The profit margin is very large. Congratulations again.

Yesterday, the US dollar index fell back due to the lower-than-expected US CPI data, giving up the gains of the previous day and currently maintaining above $100.Stimulated by the CPI data, gold reached a high of around 3260 last night, but still failed to break through this resistance level and then fell, which is consistent with my strategy yesterday.From the 1H chart, we can see that gold has now fallen below the trend line support, and the support has therefore turned into resistance.Therefore, if gold cannot break through and stabilize at 3240, there is a risk of testing 3200.Today's operation, I suggest paying attention to 3230-3240. As long as the trend line cannot be broken, you can short gold here, with the target first looking at 3220 and then 3200.As expected, gold rebounded to around 3240 and then fell, reaching the first target of 3220. Congratulations, friends who followed made money.Gold continued to fall again. Our short positions in the 3230-3240 range achieved good profits. Now the gold price has reached the final target of 3200. Congratulations again to everyone who copied my trades and made a lot of money.

Yesterday, our strategy of buying at a low level to see a rebound was correct, and the profit margin was also satisfactory. Then I also reminded that we should pay attention to 3260. If the rebound fails to break through this time, it will fall again. Now gold has fallen again after touching here, and it has come to around 3240.Later, important CPI data will be released. The next trend of gold will focus on two points, the upper resistance of 3260-3270, and the lower support of 3200.If it breaks through the range of 3260-3270, there is a high probability that it will fill the gap of yesterday's jump. Otherwise, if it fails to break through, it will test the support of 3200 downward. In comparison, I think the latter is more likely.Once it falls below 3200, the downward space will be further expanded.