goldenBear88

Closed my final set of Sells / small Profits booked

TVC:GOLD   CFDs on Gold (US$ / OZ)
After yesterday's closing my second added set of Sells in excellent Profits, I've kept my original one (from May #19 - #1,732.80 to #1,715.80), but since #1,715.80 wasn't broken, I closed it on yesterday's session Low (#1,720.80 to be exact) with small Profits. I've decided to close it, not to endanger my Monthly Profits, since I am more than satisfied with it. Again I need to state that yesterday's Price-action was a Fundamentally driven session and Technical analysis is only useful when the market returns to normal Trading conditions. Those show the Daily chart is still Neutral, Stock markets on a correction but not wildly above Friday's Low and Usd-Jpy pair above the Support and potentially rising. The Hourly chart #MA50 also was broken - but since start of the month, every #MA50 break, later on resulted as an Bullish spike and probable small Bullish leg / reversal pattern. That's why, I didn't wanted to gamble and waiting for E.U. opening with open Positions, and my decision to close my Sell orders was spot on. I don't rule out another #1,715.80 test, if #1,720 is broken, Gold can dip even lower than #1,705.80 - but for now, as long as #1,720.80 first Support holds, #1,755.80 extension seems a more real possibility. Both ways, I will not make any decisions today, both scenarios are possible so, since the weekend is ahead, I will comfortably remain on sidelines, waiting for new pricing opportunity with great Monthly Profits on my account. Bottom line: if #1,715.90 fails to hold, Price-action will be calling for #1,705.80 and #1,695.80, if not, Gold will continue the Bullish leg with decent extension. In addition, if a profitable pattern emerges even today, if I seem it valuable - surely I won't miss such opportunity to take it.

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