Aggressive takedown ahead towards #1,700.80 / Sell engaged

Gold's general commentary: Gold has been consolidating is the past #3 Hourly 1 candles within #1,755.80 - #1,765.80 belt. So far this consolidation is within my models as I announced big Volatility on Short-term especially within current Trading week. Lower Low decimal is still intact and is now under full Bearish dominance (Selling on every High). Gold was Trading near Resistance region and since my Bearish trendline is preserved, Price-action triggered my Selling orders, also by all Bearish developments, I see space for further losses / as I am Bearish on both Short and Medium-term (with #1,700.80 possibility within #3 sessions, as discussed), #1,750.80 variance could be used as an decent Selling opportunity. Same resemblance happened on March #31 - April #3 where Price-action tested Support on multiple occasions and then (with huge Volatility) spiked up strongly, and then Sold back the gains. DX is comfortably Trading above the Hourly 4 chart's Support and Bond Yields aswell are soaring (combination which is adding Selling pressure on Gold), as my estimates are pointing that it should be enough to initialize more serious Selling impulse on Gold.


Technical analysis: Gold has ignored yesterday’s session Harami Cross Bullish reversal candle (due Intra-day trend switch on DX, my main instrument at the moment) and remains basically ranged on Hourly 4 chart but still on strong Selling gradient (Lower Low’s - Higher Low’s). On Daily basis, the next Low is located on the #1,742.80 - #1,745.80 final Support fractal, and break of can slide the Price-action towards #1,722.80 - #1,727.80 zone firstly, then #1,700.80 psychological barrier in extension. Besides current Selling pressure on Gold, I got Selling confirmation and full Bearish domination ahead since Technically, Hourly 4 chart’s #1,750.80 is invalidated on multiple occasions and on such circumstances, I am expecting #1,722.80 test in succession. If #1,722.80 breaks - then the Weekly chart’s (#1W) Support line (following the Weekly Channel since the December #2019 bottom) is compromised and I will be looking at full oscillation towards #1,678.80, and #1,588.80 in extension. The Price-action is presently on the #1 Bearish Daily candle in succession, having closed yesterday’s session on gains. DX is at ( +0.54%) but Gold is resisting so far further fall below today’s session Low’s zone. Personally, I assume that from here - only direction is downside, and if #1,745.80 breaks, I will add more Selling orders.


As discussed throughout my yesterday's session commentary: As I am Highly sceptical, and having strong reservations of current Gold’s miraculous recovery, I don’t think that Gold will continue the uptrend. On the other side, there is no factor to push Gold downwards again (except ISM announcements meeting the forecast, engaging recovery candles on DX ), so I will wait for #1,750.80 Support break to make my move towards #1,727.80 and #1,700.80 in succession.


My position: As Price-action triggered my pending Selling order (#1,752.80 entry point), I am currently operating with mentioned Selling order. I will engage another Selling order if #1,745.80 configuration breaks, calling for #1,7122.80 extension (my Target). If correlating instruments continue Trading on gains, I am expecting #1,722.80 Intra-day.