Gold prices rebounded strongly to new highs following news of the reopening of the Strait of Hormuz. However, the sustainability of this news-driven rally remains to be seen. It's crucial to avoid blindly chasing the market higher. Today, we made four profitable trades: three long and one short. Many friends have expressed confusion, wondering why we would short when the uptrend is clear. Firstly, we are a short-term trader, and signals have a limited lifespan. Secondly, after a sustained price increase, the bullish momentum has been exhausted, and a technical correction is needed. The current pullback is a normal correction, not a trend reversal. We use this correction to our short positions, capturing profits quickly.

Looking at the current 4-hour chart, although market expectations of a US-Iran reconciliation and the reopening of the Strait are driving the market, the resistance above remains strong. We are focusing on the 4255-4265 resistance level. For now, we will observe and wait for the trend to become clearer before considering shorting on rallies.

Despite the rapid fluctuations in market sentiment between bulls and bears over the past two trading days, we successfully avoided the potential risks in this complex market environment and achieved considerable profits. If you have seen the trading signals in my telegram today, I believe you are feeling just as happy as I am right now.