September 17 Jingyi’s Gold Trading Ideas Trade the Rebound as Bearish
A “yellow-haired” commentator urged the Fed to cut rates aggressively, targeting an interest rate of 1% or even lower. But just a few hours ago, the Fed completed its first rate hike in 2023. The FOMC voted unanimously to raise rates by 25 basis points, bringing the rate to the 3.75%-4% range. The Fed stated that inflation remains high, and most officials expect there may still be room for further hikes.
On the 4-hour chart, gold is consolidating and repairing. The approach remains under pressure to short. Support is at 4240-4246. Near-term resistance is at 4317-4323. Strong resistance is at 4355-4361. Be patient and wait for a rebound opportunity, and manage your position sizing.
Gold trading plan
Short the rebound at 4317-4323, and add shorts on the rebound at 4355-4361. Stop loss: 4369. Targets: 4240-4246. If it breaks down, you can continue holding.
$BTC $ETH #Zcash上涨6% #比特币ETF净流出4.5亿美元
A “yellow-haired” commentator urged the Fed to cut rates aggressively, targeting an interest rate of 1% or even lower. But just a few hours ago, the Fed completed its first rate hike in 2023. The FOMC voted unanimously to raise rates by 25 basis points, bringing the rate to the 3.75%-4% range. The Fed stated that inflation remains high, and most officials expect there may still be room for further hikes.
On the 4-hour chart, gold is consolidating and repairing. The approach remains under pressure to short. Support is at 4240-4246. Near-term resistance is at 4317-4323. Strong resistance is at 4355-4361. Be patient and wait for a rebound opportunity, and manage your position sizing.
Gold trading plan
Short the rebound at 4317-4323, and add shorts on the rebound at 4355-4361. Stop loss: 4369. Targets: 4240-4246. If it breaks down, you can continue holding.
$BTC $ETH #Zcash上涨6% #比特币ETF净流出4.5亿美元
