As discussed throughout my yesterday's session commentary: "My position: There is strong possibility of another case of DX pump (filling the Bullish Gap) which would make capital rush into the DX from safe-haven assets which were in demand such as Gold as I expect a test of the #1,600.80 Medium-term Support zone before any chances of recovery. If you followed my call you have many options on the table and of course, option not to Trade this anymore. If you are satisfied with #1,645.80 entry Profits and you are Short-term Investor, the Profit is too good to be ignored and order can be closed. If however you are willing to allow additional risk, move the Stop-loss on entry point (#1,645.80) and Trade the sequence towards #1,615.80 #2-Year Bottom. Personally, even though my Medium-term order from #1,720's is on heavy gains, I will allow additional risk and keep the Short-term order aswell (#1,645.80 entry point) and will slowly start taking Profits near #1,615.80 Bottom. Once again my Medium-term estimations are providing excellent results ( Gold testing #1,600.80 mark, announced weeks ago), congratulations if you followed."
I have closed original Short-term Selling entry throughout yesterday's session (#1,645.80 - #1,623.80) on a fine #22 point Profit run, extending my results range to #40 Profits row and #8 Stop-loss hits regarding April - October cycle. I will use this chance to congratulate Traders who followed my Short and Medium-term calls which delivered and will continue to deliver spectacular results, well done!
Technical analysis: The Hourly 1 chart’s newly formed Ascending Channel has entered the #1,642.80 - #1,652.80 Resistance zone I've been mentioning the last couple of sessions, turning Overbought in the process and a Sell-off right now represents a correction process (the stronger the rise, the steeper the fall will be as Gold is Trading purely on Inflated prices). It is important to note that the Price-action is still isolated within healthy Descending Channel on bigger charts without signs of exhaustion. Hourly 4 chart’s Higher Low’s Upper zone rejected the Bullish action as I treated current Intra-day rise as nothing more than Buying pressure from DX Trading towards Weekly Low’s (new debt ceiling agreement of the U.S. Senate). Technically, that was additional Selling opportunity towards the #1,622.80 - #1,627.80 Medium-term Support zone, which I utilized to it's maximum (I highlighted many times throughout my remarks that Traders should Sell every rise that Gold delivers, I have been using that strategy for Month's now). However it all really depends on how the Bond Yields and DX Trade coming into today’s U.S. opening Bell (even though Fed minutes was not Gold friendly at all with hawkish stance all along). DX didn't resumed the decline so Long-term Selling sequence towards #1,600.80 is not postponed. Bond Yields are Trading near multi-Month Resistance zone (June #28 cycle) and coupled with Neutral candles on Usd-Jpy, Gold remains Bearish on the Medium and Long-term (remember how #52-Week Low’s on DX were ignored by Gold, and now Gold was Trading under Buying pressure because of it), indicating elemental Volatile trend on all market classes. The Bullish Gap fill on Bond Yields heavily affects Gold and if #1,615.80 Support breaks throughout today’s session, I may potentially see the Bottom of this parabolic Gold’s Selling spree near #1,588.80 (#1,615.80 September #28, #2-Year Bottom) as I have been mentioning since the start of the Month, resembles the finishing Bearish leap for current fractal. I only use Fundamentals to interpret Medium and Long-term trends or directional changes, not for Intra-day signals.
My position: As stated above, my original #1,645.80 Selling entry is closed with excellent Profits throughout yesterday's session as I used current #1,642.80 local High's as an re-Sell opportunity. My Selling order (#1,642.80 entry point) is currently running nicely along with my Medium-term order, both Targeting #1,600.80 psychological mark. If downtrend is stalled near #1,615.80 I will slowly start taking Profits there, however if #1,615.80 breaks, I will pursue #1,600.80 mark with my both piercing Selling orders. Gold is slowly but steadily approaching my Medium-term Target of #1,600.80.
I have closed original Short-term Selling entry throughout yesterday's session (#1,645.80 - #1,623.80) on a fine #22 point Profit run, extending my results range to #40 Profits row and #8 Stop-loss hits regarding April - October cycle. I will use this chance to congratulate Traders who followed my Short and Medium-term calls which delivered and will continue to deliver spectacular results, well done!
Technical analysis: The Hourly 1 chart’s newly formed Ascending Channel has entered the #1,642.80 - #1,652.80 Resistance zone I've been mentioning the last couple of sessions, turning Overbought in the process and a Sell-off right now represents a correction process (the stronger the rise, the steeper the fall will be as Gold is Trading purely on Inflated prices). It is important to note that the Price-action is still isolated within healthy Descending Channel on bigger charts without signs of exhaustion. Hourly 4 chart’s Higher Low’s Upper zone rejected the Bullish action as I treated current Intra-day rise as nothing more than Buying pressure from DX Trading towards Weekly Low’s (new debt ceiling agreement of the U.S. Senate). Technically, that was additional Selling opportunity towards the #1,622.80 - #1,627.80 Medium-term Support zone, which I utilized to it's maximum (I highlighted many times throughout my remarks that Traders should Sell every rise that Gold delivers, I have been using that strategy for Month's now). However it all really depends on how the Bond Yields and DX Trade coming into today’s U.S. opening Bell (even though Fed minutes was not Gold friendly at all with hawkish stance all along). DX didn't resumed the decline so Long-term Selling sequence towards #1,600.80 is not postponed. Bond Yields are Trading near multi-Month Resistance zone (June #28 cycle) and coupled with Neutral candles on Usd-Jpy, Gold remains Bearish on the Medium and Long-term (remember how #52-Week Low’s on DX were ignored by Gold, and now Gold was Trading under Buying pressure because of it), indicating elemental Volatile trend on all market classes. The Bullish Gap fill on Bond Yields heavily affects Gold and if #1,615.80 Support breaks throughout today’s session, I may potentially see the Bottom of this parabolic Gold’s Selling spree near #1,588.80 (#1,615.80 September #28, #2-Year Bottom) as I have been mentioning since the start of the Month, resembles the finishing Bearish leap for current fractal. I only use Fundamentals to interpret Medium and Long-term trends or directional changes, not for Intra-day signals.
My position: As stated above, my original #1,645.80 Selling entry is closed with excellent Profits throughout yesterday's session as I used current #1,642.80 local High's as an re-Sell opportunity. My Selling order (#1,642.80 entry point) is currently running nicely along with my Medium-term order, both Targeting #1,600.80 psychological mark. If downtrend is stalled near #1,615.80 I will slowly start taking Profits there, however if #1,615.80 breaks, I will pursue #1,600.80 mark with my both piercing Selling orders. Gold is slowly but steadily approaching my Medium-term Target of #1,600.80.
- 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.
