Last Friday's analysis suggested two entry methods. Gold chose the first method this week, not even bothering to retest the rising trendline and instead rallying directly, making Powell's speech early this morning seem quite significant.
Gold dropped to 2401 during the European session yesterday, but after breaking the key level of 2418 in the U.S. session, it surged towards the target price of 2440.
To those holding positions from 2318 to 2440, congratulations on riding this significant trend and profiting with such ease and joy.
So, what's next? Is there a historical high point to aim for? Should you chase it further or consider shorting?
In a bullish trend, the price isn't the focus, no matter how high it goes—there will always be buyers. This is the logic of the trading market!
Without a basis for shorting, the advisor won't enter any short positions. It’s futile to blindly short in the current situation. Emphasis should be on the rising channel, with the key level currently at the upper edge of this channel.
In a bullish trend, if the price ascends along the rising channel, it’s likely to retreat towards the lower edge of the channel after touching the upper edge.
To reach the historic high of 2450, pay attention to retests at key levels of 2415, 2409, and 2401 before entering new long positions.
If the current uptrend breaks through the key level of 2450, the next target to watch is 2500.
For students who missed this significant trend, don’t be disheartened. There will still be other opportunities this year, so stay tuned to the advisor's analyses.
"The above is personal subjective analysis for reference only. Please do not follow blindly, and be responsible for your own losses."
