The market changes by the minute—riding the trend is the way to go. When the trend comes, just act on it. Don’t try to bottom-fish against the trend; otherwise you’ll end up feeling miserable, constantly enduring pain. In trading, remember not to act impulsively. The market is ruthless toward all kinds of arrogance, so absolutely don’t “hold the bag.” Many people can probably relate: the more you resist, the more panic you feel, your floating losses keep growing bigger and bigger, and you end up eating poorly and sleeping badly—while also missing many opportunities for no reason. If you have these same worries, then why not follow the rhythm and give it a try to see if it can suddenly make things click.
Yesterday’s market moved pretty much as expected: it bottomed out around the 4019 level, then surged up to near 4060. In recent sessions, long and short positions have been switching back and forth, which has probably left many people feeling dizzy.
At the moment, the 4-hour gold chart is nearing the end of the consolidation range. The upside room above is also very limited. Price has repeatedly met resistance in the 4065–4072 area, while strong support below is in the 4018–4021 range. If price breaks below 4040–4046 during the day, then the short-term trading range will be broken. In terms of strategy, keep a bias toward going long? Actually, maintain a mindset of being positioned for selling rallies (high short). For today, focus on how the evening U.S. session will affect the market. As you get close to the non-farm payrolls, be sure to manage risk.
Sell at 4060; add to the short if it reaches 4072; keep defense at 4075; targets are 4040–4029
Yesterday’s market moved pretty much as expected: it bottomed out around the 4019 level, then surged up to near 4060. In recent sessions, long and short positions have been switching back and forth, which has probably left many people feeling dizzy.
At the moment, the 4-hour gold chart is nearing the end of the consolidation range. The upside room above is also very limited. Price has repeatedly met resistance in the 4065–4072 area, while strong support below is in the 4018–4021 range. If price breaks below 4040–4046 during the day, then the short-term trading range will be broken. In terms of strategy, keep a bias toward going long? Actually, maintain a mindset of being positioned for selling rallies (high short). For today, focus on how the evening U.S. session will affect the market. As you get close to the non-farm payrolls, be sure to manage risk.
Sell at 4060; add to the short if it reaches 4072; keep defense at 4075; targets are 4040–4029