Updated: Jan 26
The gold price is under threat, with the upward trend facing resistance.
Recently, there have been several false breakouts and sharp declines, indicating a high degree of volatility. It is expected that there will soon be further trend developments.
A more conservative strategy will be used today, following the downward trend. Support is expected to be challenged in 1920. The pattern of false breakouts is expected to continue.
Strategy A: Sell orders. ( Smaller lot is suggested for today )
Entry point around 1925-1926, targeting 1914 with a stop loss at 1930. Revenge Trade： (Blue Line on the chart) If the price reaches 1914, consider a short-term buy with a target of 1920 and stop loss at 1910. Once 1920 is gone, sell again with a longer-term target and stoploss for preservation.
If there are any changes to the analysis for today. Let's update lively in the chat group in Telegram.
Review result: 1 profit trade and one stoploss trade 1. sell was correct; smelled some of the change, stopped selling, and only focused on buying. 2. However, when the price hit 1929 and sold for scalping but failed with close stoploss in 1933. 3 Overall profitable.
However, one of the users did great work when trading live together: