Gold fell 17%, silver fell 40%. Who with leverage could withstand that kind of drop? All the bulls are dead; what's left is just sentiment. How do you understand this? Silver shorts would have been wiped out at 100, but 100-120 is just sentiment. There's a little trick for trading gold and silver: XAU/USD opens at 7 AM daily, SHFE gold opens at 9 AM. A few days ago, gold's main trend was upward. Every time it gapped up at 7 AM, SHFE gold would continue to surge at 9 AM. This reflects the fear of missing out on buying and the stop-loss sentiment of short sellers. These past few days, gold and silver have mainly corrected, so I opened short positions before 9 AM to profit from the sentiment and SHFE gold's stop-loss. Making 20,000-30,000 USD is perfectly reasonable; who knew it could reach over 100,000 USD? So, if Trump's rhetoric causes gold to gap up at 7 AM, and you have long positions, you can hold until 9 AM to close them when SHFE gold rallies. The reverse is also true.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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