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Gold still rebounds short!
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: Gold, still rebounds short!". Hope it will be helpful to you! The original content is as follows:
Georological risks continue to "spin", Trump has staged "wolf is xmserving.coming" many times, coupled with Russia's military intervention, but the gold market has not risen but fallen. Many investors said they are xmserving.completely unable to understand, and it seems that the market has created "antibodies" to risks.
In the past few days, everyone's attention has shifted from trade conflicts to Israel. People in the Middle East are being beaten with "rockets" at any time. Peace is a luxury for them. Their wife and children are separated and their families are destroyed. No one is sure to see the sun tomorrow.
War is not a simple opposition between right and wrong. Besides, we are not military experts. Just superficial understanding conflicts will trigger panic, and panic will drive gold prices. The more fierce the attack is, the more intense the financial market is, the safe-haven funds will pour into the gold market.
I thought about it carefully and found that things are not simply based on appearances. On the deeper level, capital has seen through the game in the Middle East. On the surface, it seems that the conflict between countries such as Israel, Iran, Ukraine, and Russia is actually a contest with the United States, the "boss" behind the scenes.
The conflict between Iran and Israel does not exist today, but has always existed, deeply rooted in the people's bone marrow and consciousness. There are many reasons such as religion, history, and culture. The United States has always supported Israel and has been warring with its neighbors since its founding in 1948.
At present, gold bulls and bears have different opinions tomorrow. The decline in gold prices does not simply understand the bearishness of institutions or capital, but leaves the market with expected profits. The longs take profits and sell sells to trigger a short-term oscillating decline. A large number of sells will lead to damage to the upward structure, leading to a pedaling or panic decline. Sliding while pulling and selling maintains the original high-level pattern, and can cleverly cash out and leave the market, and wait for the opportunity to build a position after the gold price falls.
So, geopolitical risks indicate that the demand for safe-haven aversion still exists. The short-term decline in gold prices is only partially settled in profits. The US dollar continues to weaken. The Federal Reserve's interest rate cut in the second half of the year is imminent. Economic recovery will inevitably require central banks to release money. These are more beneficial than disadvantages for long-term gold.
Okay, let’s talk about the gold market today:
Since this week, the gold price has fluctuated and fell since US$3,450. This market that falls and pulls can easily disrupt the rhythm of traders. For example: those who are bullish can always see hope, and each wave of decline will rise quickly. Those who are bearish are also frightened. If the profits you get are a little greedy, they will give up, and the long and short switch at any time.
Theoretically, there are opportunities for bulls and bears in this kind of oscillating decline, but two points should be paid attention to: When will the decline end? What judgment is made? I don’t think it’s up to support. No one knows where to stop. If you think you can guess, it’s not just guess once. You can guess right all the time. Just like gold will end one day when it’s a bull market. Is it right to think that it’s right to continue to be bearish because the bull market ends and ushers in a decline? Is it right to be bearish when 480 is short-selling gold reaches 880, and then 880 falls to 480? It's totally wrong, because if you don't catch the bull market, you may not be able to catch the bear market.
Other point, the end of the downward market is still: the high point before the last fall (1 hour/4 hour), breaking through the starting and falling point means that the short-term adjustment ends or enters a rebound and reversal. At this time, there are many opportunities to look for, and even if it breaks through and rises, it will only stop loss once (some people understand that short selling will have a big rise, and the logical loophole here is that it mistakenly believes that short selling does not set a stop loss and has a heavy position). To buy at the bottom of the long period, you need to test it again and again. N mistakes are changed correctly, and correct may not be able to hold it. My approach is to deal with errors correctly N times (reversal is stopped). This is how everyone’s logic and perspectives look at problems are different.
1 hour, no matter how bumpy the middle, the general direction is a decline. This is the fact that is in front of you. At least for leveraged trading, how to do today and where to do it is far more important than if it will rise next month. Whether it can rise at the end of the year will continue to be the main one near the upper track of the rebound channel today. Yesterday, in "Gold does not break through 3405, a volatile decline! 》 emphasizes the key to the early trading start point of $3370. The break of 3370 indicates that the rebound continues to fall. Today, it is also not short, but the rebound is short until the last short order is knocked out.
Today, I think gold rebound can be short in the range of 3362-65, and the oscillating decline can only be short in the rebound. I know how many opportunities there are in the middle. Good trading should be learned to give up, grasp the general direction, and find key positions. "Follow the trend" Even the guys from JD Takeaway know, but there are very few who can xmserving.combine knowledge and action. Pay attention to US$3340/3328 below.
The above content is all about "[XM Foreign Exchange Market Analysis]: Gold, still rebounds short!". It was carefully xmserving.compiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading.! Thanks for the support!
Due to the author's limited ability and time constraints, some content in the article still needs to be discussed and studied in depth. Therefore, in the future, the author will conduct extended research and discussion on the following issues:
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