Closing my Selling order Intra-day / #27 Profits run
As discussed throughout my yesterday's session commentary: "My position: As Gold is slowly losing value with every candle, if DX don't disappoint and #1,700.80 - #1,698.80 breaks, #1,678.80 sequence might be tested Intra-day."
I have closed my Selling order Intra-day (#1,698.80 - #1,684.80) on a fine #14 point Profit run, extending my results range to #27 Profits and #4 Stop-loss hits regarding April - July cycle. I was on sidelines for more than #3 sessions awaiting excellent opportunity to Sell Gold on spot which appeared lately. I will use this chance to congratulate Traders who followed my call, well done!
Gold's general commentary: I have essentially nothing to add regarding Short-term as Gold crossed Short-term Support fractal (#1,700.80 - #1,698.80) on the Hourly 4 chart and crossed aswell #5-session Low’s (aswell testing #52-Week Low's on Gold), which as usual should result as an Bearish spike below the #1,678.80 Lower Low's extension. This is an additional Short-term Selling signal similar to February #2 - #5 #2020 parabolic rise, which ended as an steep correction. The Daily chart’s consolidation (current upswing leans more to the Bearish side rather than Neutral), as Gold is still ignoring Bullish trend on Bond Yields, following mostly Intra-day violent Volatility on DX (taking strong hits which are slowly correcting, rejected on Bullish trendline on Daily chart, confirming my Bullish stance on DX) as global Geopolitics dust rises, and as long those guide the market sentiment, further uncertainty on Gold is inevitable (along with the Inflation on record High’s).
Fundamental analysis: There is Fundamentally unfair statistic I spotted regarding today’s and yesterday’s session: this is DX correlation Month and mostly Gold ignored Bond Yields developments (#18 out of #20) numbers, while both sessions where Bond Yields was in the equation were yesterday’s session rise on Gold and once more. This shows that Price-action risen without main cause, Buying every dip and distorting fair Technical trends where I have nothing significant to add regarding my previous analysis (spot how the Fundamental statistics were unfair adding heavy Selling pressure on Gold regarding Hourly horizon) and only if Weekly (#1W) Resistance zone at #1,746.80 - #1,756.80 is invalidated on one try / hit, Gold can give one more upside opportunity towards #1,800.80 barrier. Other than that, with U.S. announcements speculations (announcing the #3-Month Bill passing plan policy), there are no more macro-economic High impact announcements throughout current and next Trading week to support the eminent uptrend. I am still in search for relevant Trading pattern (more Medium-term), however if Gold closes the session below #1,700.80 barrier, #1,652.80 barrier can be tested throughout Friday's session.
My position: As I took quick Profit, I will call it for the session without making any more calls on Gold. Any further move may endanger my Intra-day Profits so best decision to make at the moment is to remain on sidelines. As I have been announcing since #1,800's that #1,678.80 Lower Low's test is possible, my belief is that I am mostly right regarding Gold's both Short and Medium-term.
I have closed my Selling order Intra-day (#1,698.80 - #1,684.80) on a fine #14 point Profit run, extending my results range to #27 Profits and #4 Stop-loss hits regarding April - July cycle. I was on sidelines for more than #3 sessions awaiting excellent opportunity to Sell Gold on spot which appeared lately. I will use this chance to congratulate Traders who followed my call, well done!
Gold's general commentary: I have essentially nothing to add regarding Short-term as Gold crossed Short-term Support fractal (#1,700.80 - #1,698.80) on the Hourly 4 chart and crossed aswell #5-session Low’s (aswell testing #52-Week Low's on Gold), which as usual should result as an Bearish spike below the #1,678.80 Lower Low's extension. This is an additional Short-term Selling signal similar to February #2 - #5 #2020 parabolic rise, which ended as an steep correction. The Daily chart’s consolidation (current upswing leans more to the Bearish side rather than Neutral), as Gold is still ignoring Bullish trend on Bond Yields, following mostly Intra-day violent Volatility on DX (taking strong hits which are slowly correcting, rejected on Bullish trendline on Daily chart, confirming my Bullish stance on DX) as global Geopolitics dust rises, and as long those guide the market sentiment, further uncertainty on Gold is inevitable (along with the Inflation on record High’s).
Fundamental analysis: There is Fundamentally unfair statistic I spotted regarding today’s and yesterday’s session: this is DX correlation Month and mostly Gold ignored Bond Yields developments (#18 out of #20) numbers, while both sessions where Bond Yields was in the equation were yesterday’s session rise on Gold and once more. This shows that Price-action risen without main cause, Buying every dip and distorting fair Technical trends where I have nothing significant to add regarding my previous analysis (spot how the Fundamental statistics were unfair adding heavy Selling pressure on Gold regarding Hourly horizon) and only if Weekly (#1W) Resistance zone at #1,746.80 - #1,756.80 is invalidated on one try / hit, Gold can give one more upside opportunity towards #1,800.80 barrier. Other than that, with U.S. announcements speculations (announcing the #3-Month Bill passing plan policy), there are no more macro-economic High impact announcements throughout current and next Trading week to support the eminent uptrend. I am still in search for relevant Trading pattern (more Medium-term), however if Gold closes the session below #1,700.80 barrier, #1,652.80 barrier can be tested throughout Friday's session.
My position: As I took quick Profit, I will call it for the session without making any more calls on Gold. Any further move may endanger my Intra-day Profits so best decision to make at the moment is to remain on sidelines. As I have been announcing since #1,800's that #1,678.80 Lower Low's test is possible, my belief is that I am mostly right regarding Gold's both Short and Medium-term.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
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