How can a novice spot gold be stable and profitable?

Spot gold trading is a contractual trading that uses the principle of capital leverage. According to the trading standard of the international gold margin contract, the trading right of one hundred ounces of gold is purchased at the price of one ounce. So, what are the obvious support levels in spot gold trading?

Support level--The place where the price cannot fall is the support level. Common support levels are as follows:

1. If the gold price goes higher after the opening, when it falls back to the opening price, the support will be stronger because there is more precipitation in the buying.

2. The previous close If the index (or stock price) drops from a high position, the support at the previous close is also strong.

3. Front low. The low point zone formed last time will generally become people's psychological support level, the reason is the same as the resistance zone.

4. The previous high point has a large resistance. Once it is effectively crossed, due to the accumulation of buying orders, it will generally be supported when it falls again.

There is no market maker in the spot gold market, the market is standardized, self-discipline is strong, and the regulations are sound. So, what are the obvious resistance areas in spot gold trading?

Resistance levels are naturally formed where the strength of the bears is weak and the strength of the bulls is weak. In practice, due to the consistency of public expectations, the following areas often become obvious resistance areas:

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1. The opening price of gold on the day was lower than the previous closing. In the process of climbing upwards, you will encounter resistance here. This is because after a night of thinking, the long and short sides have reached a consensus on the previous close. When the market opens on the day, there will be gold investors who participated in the auction at the previous closing price. , Indicating strong selling intentions.

In the course of the gold price rebound, on the one hand, it will be hit by a new sell at any time. On the other hand, when it is close to the previous close, the accumulated sell orders in the morning will play a role, making the bulls easily pass this barrier.

2. Due to people's psychological effects, some integer barriers often become an important resistance when rising. The purpose of the identified resistance zone is to sell at the highest point or the second highest point. Generally, it can be sold before entering the identified resistance zone, in order to increase the trading opportunities. Or when the price of gold slips from a high, it will sell when it approaches this high for the second time.

3. After the opening day, the international gold price went down. Due to the accumulation of a lot of selling at the opening price during the auction, resistance will be encountered when rebounding back here.

4. The reason for the formation of the previous high is because there is an obvious backlog of selling. When the price of gold falls back here and then rises again, once it approaches the previous high, there will be new short-selling forces involved and the bulls will also change. Be cautious.

Has formed an obvious M head pattern on the chart, and most of the time the high point on the right will be lower than the high point on the left.