Closing my both Selling orders with huge Profits
As discussed on my yesterday's commentary:" I am ready with my Selling orders to pursue #1,900.80 first, and if broken, I will re-Sell Gold towards #1,882.80." / I have closed my both Selling orders with huge Profits (#1,919.80 - #1,882.80), all the way towards #1,882.80 extension as I am more than satisfied with my Weekly Profits. Congrat's for Traders who followed my call!
Technical analysis: One of the greatest proportion Yearly declines was formed throughout yesterday’s session as the Price-action almost hit the Bottom of #1,882.80 - #1,892.80 zone range and break of #1,878.70 should be calling for #1,855.70 test. Bearish leg has (so far) been rejected as current variance was representing Higher Low of the Hourly 4 Channel Down. Technically Gold (Xau-Usd as always in my commentary) didn't managed to Buy back today’s decline near #1,900.80 Resistance and new pullback towards the #1,855.70 could be on the cards, which was the ground for sideways Trading within the Rectangle since December #17. Gold didn’t strongly recovered / made me engage my both Selling orders, aiming that Gold is bound to give one more proportional decline on top of yesterday’s meltdown. That means that Gold was Overbought for some time and Buying bias cannot be sustainable. Statistically, when Gold prints #40$ (or more) Selling sequence, rally is ahead. Expect a High Volatility ahead (#67.80 index) with Lower Low’s and Higher Low's. A break above #1,900.80 should give way to a quick spike towards 1,911.80, but chances for that are less than #12% on today’s session market closing. Gold is still for sure a Sell option, as since breaking Supports has largely negated the positive bias of the previous #8 sessions, making healthy Channel Down on Hourly 4 chart practically cancelling out the Higher High’s. Gold's greatest “success” this week was posting it's first Weekly candle with losses since two straight on heavy gains. The Price-action will be next looking to fill the first contact point, #1,900.80 Bullish, #1,878.80 Bullish. Corrective drop (after Volatility) will come as no Technical surprise, and consolidation around #1,855.70 if #1,878.80 breaks - as Equity holders digest the news and evaluate their strategy. DX clearly accumulated all the panic capital from Gold markets and is bound to give some back. Breaking of #MA50 on Hourly 4 chart turns Gold from Bullish or Bearish on Short-term.
Current configuration going in Sellers favor: Indeed there is decent possibility for #27 Intra-day Selling continuation towards #1,855.70 as Wall Street opening Bell approaches. If that’s the case, I will carefully wait for opportunity to activate add more Selling orders. The Medium-term charts Daily and Weekly still point to a Higher Price-action which reveals underlying Bullish Long-term trend, but surely on the Short-term, there was strong switch from Bullish to Bearish. A relative risk factor is off the markets and that’s why DX should rise (Stimulus news still out of the equation) and add more Selling pressure on Gold. Also, as long as Bond notes are Trading near Resistance zone, their Channel Up will be intact and will progressively apply Selling pressure on Gold, since Bond notes attract risk seeking capital from Gold. I do expect however the currency speculators to push DX as High as they can ahead of this week’s Fundamental events in order to secure a more comfortable Sell entry in late session near the weekend break. I still give more probabilities to the downside with #1,855.70 as a first Target, if #1,878.80 Support breaks.
My position: I am highly satisfied with my Profits on both Selling orders regarding current session, as Gold dipped almost #40$ which I used/utilized to it's maximum. I am not interested in further Buying, and if #1,878.80 breaks / Gold should engage the #1,855.70 variance. But since NFP announcement is priced in throughout today's session, most likely (since I am highly satisfied with my today's and this Week's Profits), I might take an early Weekend break and do not gamble before the NFP reading. Indeed I made decent Profit this Week and with excellent Profits from last Year, I have decent continuation of great results.
Technical analysis: One of the greatest proportion Yearly declines was formed throughout yesterday’s session as the Price-action almost hit the Bottom of #1,882.80 - #1,892.80 zone range and break of #1,878.70 should be calling for #1,855.70 test. Bearish leg has (so far) been rejected as current variance was representing Higher Low of the Hourly 4 Channel Down. Technically Gold (Xau-Usd as always in my commentary) didn't managed to Buy back today’s decline near #1,900.80 Resistance and new pullback towards the #1,855.70 could be on the cards, which was the ground for sideways Trading within the Rectangle since December #17. Gold didn’t strongly recovered / made me engage my both Selling orders, aiming that Gold is bound to give one more proportional decline on top of yesterday’s meltdown. That means that Gold was Overbought for some time and Buying bias cannot be sustainable. Statistically, when Gold prints #40$ (or more) Selling sequence, rally is ahead. Expect a High Volatility ahead (#67.80 index) with Lower Low’s and Higher Low's. A break above #1,900.80 should give way to a quick spike towards 1,911.80, but chances for that are less than #12% on today’s session market closing. Gold is still for sure a Sell option, as since breaking Supports has largely negated the positive bias of the previous #8 sessions, making healthy Channel Down on Hourly 4 chart practically cancelling out the Higher High’s. Gold's greatest “success” this week was posting it's first Weekly candle with losses since two straight on heavy gains. The Price-action will be next looking to fill the first contact point, #1,900.80 Bullish, #1,878.80 Bullish. Corrective drop (after Volatility) will come as no Technical surprise, and consolidation around #1,855.70 if #1,878.80 breaks - as Equity holders digest the news and evaluate their strategy. DX clearly accumulated all the panic capital from Gold markets and is bound to give some back. Breaking of #MA50 on Hourly 4 chart turns Gold from Bullish or Bearish on Short-term.
Current configuration going in Sellers favor: Indeed there is decent possibility for #27 Intra-day Selling continuation towards #1,855.70 as Wall Street opening Bell approaches. If that’s the case, I will carefully wait for opportunity to activate add more Selling orders. The Medium-term charts Daily and Weekly still point to a Higher Price-action which reveals underlying Bullish Long-term trend, but surely on the Short-term, there was strong switch from Bullish to Bearish. A relative risk factor is off the markets and that’s why DX should rise (Stimulus news still out of the equation) and add more Selling pressure on Gold. Also, as long as Bond notes are Trading near Resistance zone, their Channel Up will be intact and will progressively apply Selling pressure on Gold, since Bond notes attract risk seeking capital from Gold. I do expect however the currency speculators to push DX as High as they can ahead of this week’s Fundamental events in order to secure a more comfortable Sell entry in late session near the weekend break. I still give more probabilities to the downside with #1,855.70 as a first Target, if #1,878.80 Support breaks.
My position: I am highly satisfied with my Profits on both Selling orders regarding current session, as Gold dipped almost #40$ which I used/utilized to it's maximum. I am not interested in further Buying, and if #1,878.80 breaks / Gold should engage the #1,855.70 variance. But since NFP announcement is priced in throughout today's session, most likely (since I am highly satisfied with my today's and this Week's Profits), I might take an early Weekend break and do not gamble before the NFP reading. Indeed I made decent Profit this Week and with excellent Profits from last Year, I have decent continuation of great results.
- My official and only Telegram Channel: t.me/goldenBear88
- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.
- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.
