Closing my Buying order with Profits / #59 Profits row
As discussed throughout my yesterday's session commentary: "Technical analysis: Gold's Price-action is under unprecedented Volatility and on important crossroads for both Short and Medium-term. If you have initiative to Trade the news, my expectation / personal estimation is dovish stance from Powell due banking crisis (even though the crisis is easing subsequently). Otherwise, I would expect hawkish tone (statistically:, #8 hawkish, #8 Neutral and only #2 dovish surprises in the past #18 events). I do expect dovish stance in form of a aggressive attitude from Fed chair and observing Daily chart (still on healthy Bullish Technicals), I do expect break of #1,952.80 benchmark (filling the #1,962.80 Gap nicely) towards #2,000.80 benchmark again. In addition, if today's news keep Gold's Buyers less interested in participating the market, #1,930.80 - #1,935.80 Support zone might be tested and invalidated, where Sellers will arise and pursue #1,900.80 psychological benchmark. Remember my last week's comments regarding Inflated Price-action on Gold and since #2,000.80 benchmark was not realized firmly, current Selling sequence can easily fill Bearish contact points way below #1,900.80 benchmark. My entry point is #1,943.80.
I have closed my Buying order (#1,943.80 - #1,970.80) on a fine #27 point Profit, extending my results range to #59 Profits row and #15 Stop-loss hits regarding April - March cycle. Current #27 point Profit and #41 point on the winning Trade before delivered #68 point Profit row on last #2 Trades, delivering excellent Trading results and congratulations for those who followed my calls and Trade the Volatility fiercely, well done!
Technical analysis: The first Support of #1,952.80 has been hit and breached on the aftermath, following the Hourly 4 chart’s former Descending Channel breakout. The #2,000.80 benchmark extension remained valid only if Powell revives Buyers interest (which occurred), as Bond Yields broke above it’s (#1W) Weekly chart’s Descending Channel as bank crisis was easing globally, Bond Yields didn't continue to gain (was on huge losses last week) against Gold as the safe-haven choice (which was not sole hedge asset anymore, as it was the case throughout the history), much like the situation in March. Since Buyers were not interested to join the market without serious cause, Selling sequence was in continuation, but as expected and according to my estimations, Fed event changed everything. As I can either wait for a #1,970.80 touch once again (if new Low is made first, and possible rejection), or market closing above #1,975.80 once again (to Buy Gold with confirmation) which could put #2,000.80 barrier extension in motion. Even the Daily chart looks disappointing for Sellers after Support zone rejected the Price-action #3-consecutive times this Month. Gold losing while Bond Yields are on the rise along with the DX is the paradox nowadays. The only reason is the Fundamental pressure yet again. Such news along with a rising / decent recovery on Bond Yields made Investors park their capital on riskier assets than traditional safe-havens like Gold (sequence which was Short-lived). But on another side / despite news going in my favor, Price-action didn't soar as much as before. In my opinion this shows that the Weekly chart’s (#1W) Support zone of #1,930.80 - #1,935.90 will be defended, strongly limiting the downtrend in extension (last for #5-consecutive sessions). Keep in mind that on every Fundamental uptrend Gold delivered (Inflated prices) values above (# +6.00%) and current one was on (# +4.67% only), so the symmetrical extension should remain #2,000.80 benchmark once #1,975.80 gets invalidated (with market closing above).
My position: Even though I acquired enough Profits and I am more than satisfied with my Trading results, I will look to either re-Buy Gold on #1,970.80, or await market closing above #1,975.80 to Buy with confirmation, both ways I do expect smooth path (and diagonal correlation with Bond Yields) towards #2,000.80 psychological benchmark as most viable Target for the sequence.
I have closed my Buying order (#1,943.80 - #1,970.80) on a fine #27 point Profit, extending my results range to #59 Profits row and #15 Stop-loss hits regarding April - March cycle. Current #27 point Profit and #41 point on the winning Trade before delivered #68 point Profit row on last #2 Trades, delivering excellent Trading results and congratulations for those who followed my calls and Trade the Volatility fiercely, well done!
Technical analysis: The first Support of #1,952.80 has been hit and breached on the aftermath, following the Hourly 4 chart’s former Descending Channel breakout. The #2,000.80 benchmark extension remained valid only if Powell revives Buyers interest (which occurred), as Bond Yields broke above it’s (#1W) Weekly chart’s Descending Channel as bank crisis was easing globally, Bond Yields didn't continue to gain (was on huge losses last week) against Gold as the safe-haven choice (which was not sole hedge asset anymore, as it was the case throughout the history), much like the situation in March. Since Buyers were not interested to join the market without serious cause, Selling sequence was in continuation, but as expected and according to my estimations, Fed event changed everything. As I can either wait for a #1,970.80 touch once again (if new Low is made first, and possible rejection), or market closing above #1,975.80 once again (to Buy Gold with confirmation) which could put #2,000.80 barrier extension in motion. Even the Daily chart looks disappointing for Sellers after Support zone rejected the Price-action #3-consecutive times this Month. Gold losing while Bond Yields are on the rise along with the DX is the paradox nowadays. The only reason is the Fundamental pressure yet again. Such news along with a rising / decent recovery on Bond Yields made Investors park their capital on riskier assets than traditional safe-havens like Gold (sequence which was Short-lived). But on another side / despite news going in my favor, Price-action didn't soar as much as before. In my opinion this shows that the Weekly chart’s (#1W) Support zone of #1,930.80 - #1,935.90 will be defended, strongly limiting the downtrend in extension (last for #5-consecutive sessions). Keep in mind that on every Fundamental uptrend Gold delivered (Inflated prices) values above (# +6.00%) and current one was on (# +4.67% only), so the symmetrical extension should remain #2,000.80 benchmark once #1,975.80 gets invalidated (with market closing above).
My position: Even though I acquired enough Profits and I am more than satisfied with my Trading results, I will look to either re-Buy Gold on #1,970.80, or await market closing above #1,975.80 to Buy with confirmation, both ways I do expect smooth path (and diagonal correlation with Bond Yields) towards #2,000.80 psychological benchmark as most viable Target for the sequence.
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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.
