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Gold next week trading plan!
Yesterday we sold near 2650, and the gold price fell again, reaching a minimum of 2635, with a profit margin of 15$. Recently, we have made good profits for three consecutive short sales. If you follow, you should have made a lot of money. Congratulations.
Today, the gold price rebounded again in the Asian session, and the current price is around 2663.
From the chart, we can see that 2663 was the previous support level, which has now turned into a resistance level. And this is the 0.5 resistance level of the Fibonacci retracement of the. Which has now turned into a resistance level. And this is the 0.5 resistance level of the Fibonacci retracement of the 2721-2605 downtrend, so the resistance here will be relatively strong.
Therefore, we can decide today based on the situation. If the resistance near 2663 cannot be broken, we can short here again.
On the contrary, if it breaks through 2663, the short trend will no longer exist, and we can look for opportunities to go long.
（Source from: TV-By Bruno8899）