Gold may experience a correction in the short term

3월 11일

Dear friends, gold is currently consolidating near the 2078 position, and the highest price of gold last week has reached around the 2095 position. Can gold continue to rise and break through the 2095 position? Can we still go long gold in short-term trading?
https://www.tradingview.com/x/vHoJFrop/

Judging from the gold trend, we can find that a long-short dividing point for gold in the short term is in the 2155-2150 area. So judging from the current graphics, I think it is still too early to say that gold is going to start a major correction. At the very least, we have to wait until the 2155-2150 area is broken downwards, then gold may start a correction trend downwards. As for whether the 2195 position is the current highest point, I think it is not sure yet, but judging from the current trend, there is a peaking signal. Judging from the current trend, gold may retreat to around 2160 in the short term.

Therefore, in short-term trading, I will not continue to chase gold above 2180. Based on the current profit-loss ratio, I think it is obviously more appropriate to short gold above. So in terms of trading, I will focus on shorting gold in the short term.

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3월 11일

액티브 트레이드

Consider shorting gold in the 2083-2085 area, TP: 2070