Gold within Neutral Rectangle / #41 Profits row
As discussed throughout my yesterday's session commentary: "My position: I am holding my Selling order with #2,322.80 entry point, however I have adjusted my Target and now #2,292.80 represents my optimal Target for the sequence"
I have engaged another order with #2,320.80 entry point which is still running in decent Profit (will await final / eventual #2,300.80 break) as I have closed original Selling order (engaged on #2,322.80) on #2,308.80 (delivering #14-point Profit). I am currently on #41 Profits and #8 Stop-loss hits regarding December - May cycle. I am utilizing every Selling opportunity to it's maximum.
Technical analysis: Following a somewhat rather monstrous fake-out through the trendline of Hourly 4 chart’s Resistance zone of #2,319.80 - #2,322.80 throughout yesterday’s U.S. session, added more non-logical moves similar to ones made throughout December and end of November. Gold is filling lot's of Buyer's Stop-loss orders (classic Stop-loss hunting) from those in attempt to Buy every Bottom and also trapping breakout Buyer’s orders, since Gold is only without recovery due to the constant High’s DX, however such recovery on Gold below main Support and with strong DX was impossible to foresee. Overall Bullish trend is near exhaustion and Buying pressure is easing as sessions go by as Gold pressed for Lower ground, concluding the session just south of Hourly 4 chart’s local High’s and creating new Bearish wave of #15+ points, which today’s U.S. session may confirm / whether is it sustainable or not. I am confident in #2,300.80 sequence test, however unstable market sentiment and Volatile setting is trapping Buyers as Sellers and Scalpers are getting most of the returns on this current Price-action which is isolated in Hourly 1 and Hourly 4 charts.
My position: As Gold is isolated within Neutral Rectangle on smaller charts, I am not hesitating to utilize the sequence to it's maximum and await final #2,300.80 benchmark break which may extend the Selling sequence all the way towards Daily chart's #MA50. My new Selling order is active as I will continue operating with Selling orders.
I have engaged another order with #2,320.80 entry point which is still running in decent Profit (will await final / eventual #2,300.80 break) as I have closed original Selling order (engaged on #2,322.80) on #2,308.80 (delivering #14-point Profit). I am currently on #41 Profits and #8 Stop-loss hits regarding December - May cycle. I am utilizing every Selling opportunity to it's maximum.
Technical analysis: Following a somewhat rather monstrous fake-out through the trendline of Hourly 4 chart’s Resistance zone of #2,319.80 - #2,322.80 throughout yesterday’s U.S. session, added more non-logical moves similar to ones made throughout December and end of November. Gold is filling lot's of Buyer's Stop-loss orders (classic Stop-loss hunting) from those in attempt to Buy every Bottom and also trapping breakout Buyer’s orders, since Gold is only without recovery due to the constant High’s DX, however such recovery on Gold below main Support and with strong DX was impossible to foresee. Overall Bullish trend is near exhaustion and Buying pressure is easing as sessions go by as Gold pressed for Lower ground, concluding the session just south of Hourly 4 chart’s local High’s and creating new Bearish wave of #15+ points, which today’s U.S. session may confirm / whether is it sustainable or not. I am confident in #2,300.80 sequence test, however unstable market sentiment and Volatile setting is trapping Buyers as Sellers and Scalpers are getting most of the returns on this current Price-action which is isolated in Hourly 1 and Hourly 4 charts.
My position: As Gold is isolated within Neutral Rectangle on smaller charts, I am not hesitating to utilize the sequence to it's maximum and await final #2,300.80 benchmark break which may extend the Selling sequence all the way towards Daily chart's #MA50. My new Selling order is active as I will continue operating with Selling orders.
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- 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.