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Gold prices are at a critical juncture.
Gold prices face double pressure at high levels; can they break through and reach new highs?
Resistance level 1: $4380-4385
Resistance Level 2: $4,350
Just today our team made over $6,000 in profit.
Based on the chart analysis, we clearly notice the following points:
1: Gold price is in a wide triangle consolidation pattern and entering the final stage. This means that for buyers and sellers, a new trend is about to emerge.
2: The gold price has completed the 5-minute head and shoulders bottom assembly pattern. This means that the best time to test the strong resistance in the $4350-4380 range has arrived.
Our strategy should be adapted to the current time frame:
1: The US market is about to close; there are 3 hours left before the main market closes. Asian and European markets will be the main driving force for future gold price trends.
Can these two periods rise sharply and reach new all-time highs?
2. Whether you are buying or selling, the current strategy provides the best value. Both options are worth trying.
3. If we want to determine the general direction of the future, the basic logic is to follow the trend. Once a trend is formed, it is difficult to reverse. This is a microcosm of the global economy. This trend cannot be reversed in a day or two.
Basic logic: stay optimistic and buy when prices fall.
Specific strategies:
1. Short selling strategy:
Sales: 4330-4340
Stop loss: 4355
Take profit: 4310-4300-4280
2. Procurement strategy:
Purchase: 4315-4320
Stop loss: 4300/4295/4285
Take profit: 4350+/4380+
I will continue to post specific trading strategies on my dedicated channel.
In the past six months, we have accompanied many traders to achieve growth. We will continue to adhere to this commitment and provide you with the best quality trading signals.
