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Gold prices could top $5,000
The price of gold is currently rising rapidly. There is no doubt that Trump is good at influencing the market.
From doubting Trump, to understanding him, to wanting to imitate him.
The current resistance level for gold prices is expected to reach $4,930.
However, this is only a preliminary test. Once market sentiment stabilizes and things develop smoothly, gold prices could hit a new record high of $5,000 this week.
Trading Tips:
1. Avoid chasing highs.
2. Avoid trying to define a peak.
3. When trading intraday, wait patiently for price adjustments to occur. Large declines are best for healthy corrections and establishing a clear trend.
4. We achieved the expected profit target, with a profit of 200 points this week, which is a profit of US$20,000 per contract. The upcoming big uptrend is not for us.
5. Only trade what you are good at, not what you are not good at.
All transaction data is accurately listed on my public channel. Thanks to everyone who supports and follows me.
I know many of my colleagues are envious of my charity work. Just yesterday, my channel went through the most difficult time; I lost hundreds of followers due to a smear campaign by a hateful individual, which ultimately resulted in the channel being shut down. But the more this happens, the more determined I am to fight until the end. I have reopened the channel and will continue to provide high quality trading signals and the best real-time gold analysis.
This has almost become my mission.
Next Trading Strategy: Key Price Levels
Upside resistance: The key psychological level is $5,000 an ounce. A successful move above this level would open the way to institutional price targets such as $5,400.
Downside support: $4890-4900 per ounce.
Note: After a short-term sharp rise in gold prices, any negative news may trigger profit-taking, causing gold prices to fall rapidly and sharply.
Better trading opportunities only arise when there is a sharp pullback accompanied by a sharp sequential decline.
You can follow the market,
Or you can wait for a correction and find a more stable entry point.
