Gold breaks through 3800, should we go short or long?

29 sept.

Looking back at the current upward cycle of international gold, the price started from a low of 3313 and has been steadily rising all the way relying on the bull trend. As of now, the cumulative increase has exceeded 500 US dollars. This increase is basically the same as the 500 US dollar band increase caused by changes in tariff policies. From the historical trend, after a similar increase, the market tends to enter the "momentum rebalancing" stage, especially when the price breaks through the key mark of 3810 US dollars, it will officially enter the short-term risk area. The riskiness of this zone stems primarily from the substantial profits accumulated from long positions initiated at $3,313. Some investors are taking profits at high levels, leading to a temporary increase in selling pressure. Based on historical gold fluctuations, after such surges exceeding $500, a typical technical correction typically begins at $100. The core function of this correction is to "digest profit-taking and repair overbought indicators" to accumulate momentum for the subsequent "second bull run", which is a necessary link in the trend continuation process.

Today, I'm considering shorting gold in the 3813-3818 resistance range, with the initial retracement target at 3800-3780.

Due to the rapid market fluctuations, please stay tuned to my channel for detailed trading tips, including execution details for both long and short-term trades. If you'd like, please share your current positions so we can analyze whether it's safer to hold on or adjust and change positions promptly.

29 sept.

Transaction en cours

Gold is falling, wait patiently