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Chapter 728 735 Horrible Double Heads, Big Asset Management Company Broke Arms to Survive

Immediately, the spot gold fell below the 1255.0 position, falling all the way!
It fell 3 points in 100 minutes, falling to 1245.0!

"This is fun!"

Lin Haocang gently put down the cup in his hand, and wrenched his wrench fingers, making crackling sounds of bones.

At present, there are 200 million short positions of spot gold in the account. The average opening position is 1255.0. One point of fluctuation is the profit and loss of 2000 million US dollars. The current floating profit is 100 points, and the total floating profit is 20 billion US dollars. The net value of the account is even higher. It is as high as 270 billion US dollars.

Looking at the daily chart of spot gold, Lin Haocang muttered to himself: "I seem to have created a double-headed top in the past two weeks!"

Last Monday's top was 1265.0, and this Monday's top is 1265.0 again.

Every time spot gold hits the 1265.0 position, it suffers a heavy blow, an irreversible decline!
Just now spot gold completely fell below the 1255.0 position, plummeting 100 points!

At this point, the double-headed top is completely done!

This can scare the bulls in the market silly!
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Double top is a term in the financial market, applied to stocks, futures, bond markets, and foreign exchange markets. It refers to a top pattern in technical analysis. The trend is characterized by the price rising to a high point and then falling, and then rebounding and returning to the previous position. High point position, followed by a more substantial decline.

This double-headed top is to give great confidence to the short sellers in the market, and at the same time make the bulls in the market fear, completely shake their confidence, and even collapse!
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In the retail halls of Yingda Bank, Hengsheng Bank, Bank of East Asia, Dah Sing Bank, and Fenghui Bank, those retail investors who are long are about to cry to death!
"how can that be?"

"Oh, the bulls actually collapsed at 1255.0!"

"Damn it, I just bought 1255.0 lots of spot gold at 5, this is miserable!"

"Look at the daily chart of spot gold, it's a double-headed top!"

"Last Monday, spot gold rushed to the 1265.0 position and fell sharply. This Monday, the spot gold rushed to the 1265.0 position and experienced another sharp drop. Now it has fallen to the 1245.0 position. It has fallen by 200 points!"

"Damn it, close your position quickly!"

"Withdraw, withdraw!"

"Yeah, is this about to liquidate?"

"God kill me?"

"Quickly close your position, are you still foolishly resisting?"

····
The group of retail investors who were bearish on spot gold before are happy!

"Damn, isn't there a double top on the daily chart of spot gold?"

"Look, isn't the shape of these K-lines just like an M, head?"

Double top [Double top] is also called M head because its trend shape resembles the English capital letter M.

After the stock price has risen for a long time and in a large range, if a double-headed top pattern appears, technical analysis traders usually think that the rising market will end and start to fall.

"Yeah, haha, now we're going to make a lot of money!"

"Yeah, keep holding it, you're going to get rich!"

"Must get rich!"

······
At this moment, at the Jiangdao branch of Gaosheng Bank, Li Zetai watched the spot gold drop to 1245.0, and his expression changed drastically!

The heart began to fear!

"what happened?"

"What!"

"Why are the bulls at 1255.0 so vulnerable!"

"damn it!"

"Fuck!"

"This K-line pattern actually formed a double-headed top!"

"Yeah, Cao!"

Now Li Zetai holds a long position of 100 million lots of spot gold in his account, and currently only has a temporary floating profit of 50 points, with a total floating profit of 5 million US dollars!
Compared with the previous floating profit of 25 billion US dollars, the profit of 20 billion US dollars has been reduced!
Originally, he expected that the spot gold would break through the 1265.0 position, and then continue to soar above the 1290.0 position. At that time, it would not be a problem to earn 40 billion US dollars. He never expected that the spot gold would be hit hard when it rushed to the 1265.0 position. Now Both fell by 200 points!
In the daily chart, this is indeed a double-headed top pattern. Although there is still a surplus of 5 million US dollars in the account, Li Zetai really started to panic in his heart!
He wanted to close the position, but the moment his finger pressed the mouse, Li Zetai retracted his hand again!
"Close his position!"

"Not fair!"

Last Monday, spot gold began to plummet from the position of 1265.0, with a maximum drop of 600 points. At that time, he was afraid, and then cut his meat and closed his position, resulting in a loss of 40 billion US dollars in vain!
That time he closed his position and lost $40 billion in vain, proving how stupid, ignorant, and fool he is!
"What kind of double-headed top is just an illusion. There are many moving averages below to support it. Why are labor and capital panic!"

The position at 1240.0 is the support position formed by the 5 moving average. He doesn't need to panic, he will definitely be able to support it!

····
At this moment, Morgan Bank, Jiangdao Branch, Liu Jianhui watched the spot gold drop by another 100 points, falling to 1245.0, his face was extremely gloomy!
All the floating profit in his account disappeared!

Thinking that the floating profit of US$10 billion just now is gone!
His inner gap is huge!
When the spot gold rose to 1265.0 before, his account had a surplus of 20 billion U.S. dollars, and he was still looking forward to the spot gold being able to rush above 1290.0. At that time, earning more than 30 billion U.S. dollars would be a piece of cake!
Unexpectedly, spot gold was hit hard again at 1265.
Now it has fallen by 200 points, and it has fallen to the 1245.0 position!

When spot gold rushed to 1265.0 last week, the market suddenly experienced an irreversible plunge, with a drop of as much as 600 points. Fortunately, he ran fast at that time, otherwise he would have suffered a huge loss!

The situation now is very similar to last Monday!
And spot gold formed a double top at 1265.0!

This made Liu Jianhui very panicked!
If he closes the position now, he will have to lose at least 5 million U.S. dollars to get out, and he is reluctant to let it go!

"Hey, is the good news brought by the Fed's announcement of interest rates over?"

"No!"

"Keep reading!"

At this moment, Jiangdao Kowloon Building, 17th floor, Kowloon Assets Management Company, Abigail was dumbfounded when she saw that the spot gold dropped by 100 points just now, and now it has fallen to 1245.0!
Trembling all over, cold sweat on his forehead, and chills on his back!
Unexpectedly, spot gold formed a double top at 1265.0, he was really scared!

Now they hold a long position of 100 million lots of spot gold in their account, with an average opening position of 1260.0, and a fluctuation of one point is a profit and loss of 100 million US dollars. Now the floating loss is 150 points, and the total floating loss is 15 billion US dollars!

Now the trend of spot gold plummeting seems unstoppable, if it falls by a few hundred points in the next few days, it will be bad!
As long as the spot gold drops another 200 points, their account will be liquidated!
Instead of waiting for the liquidation, it is better to take the initiative to cut the flesh and cut off the arms to survive!
Abigail thought about it for a while, and said, "Close my position!"

(End of this chapter)