goldenBear88

Holding my Sells with possibility of closing

Short
TVC:GOLD   CFDs on Gold (US$ / OZ)
On Friday's session I witnessed (once again) how Fundamentals (reports) can momentarily distort Technical trends, as a seemingly Bearish Hourly 4 Chart (besides Channel Up) candle closed positive as an disastrous #4th event was out of the ordinary and this kind of sequence didn’t occurred for more than #12 Years. The Bearish Daily trend of the Channel Down was broken but on predominantly Neutral bias, since Gold is still on the #1,747.80 High Volatility Variance. If my Weekly regressional analysis is correct on a future Bearish Weekly candle succession, then late Monday Gold should trade below #1,747.80 and finish the week in losses, since on Friday I had huge rejection (almost #9$ negative Gap fill as an strong Resistance/Yearly high break rejection). As I can see, the proposed Channel Up which I mentioned in my previous posts is still dominating the trade. If Monday’s market start opens with Negative Gap, I’ll keep my Sells, if not, I’ll close them instantly without more harm done. Gold's greatest “success” this week was posting it's first Hourly candle with gains since two straight on heavy Sells. The Price-action will be next looking to fill the #1,720’s contact point. Gold is trading against all correlated assets and I doubt it will continue. Have a good rest of the weekend.

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