Selling the Top's and Buying the dips / Sell order active

Fundamental analysis: Selling pressure is easing (as expected even though DX was skyrocketing) as Price-action is isolated within inner layers of Neutral Rectangle and newly formed Symmetrical Triangle. Selling potential is decreasing (#1,952.80 benchmark is Trading far away) as Trading Hours go by so if you decide to Trade this, keep tight Stop-loss (mentioned above). This is indecisive market and it is not a time to make aggressive Trades on the Price-action which is waiting catalyst to move. Gold is reacting strongly on each slide on DX, while every Intra-day relief rally on DX has less or no impact on the Price-action however I am Selling every Top that Gold delivers and Buying every dip (strategy delivering excellent results). Productive session only for Scalpers as they are getting most of the returns out of current Price-action. Lagging upswing attempt on Hourly 4 chart got stalled near #2,010.80 Resistance zone (breakout point still not compromised), Gold made it to #2,014.80 almost Resistance (might represent Stop-loss hunt). The Bullish reaction is due to DX testing the Higher High's Upper zone trendline that started with last week's local Low's zone which was translated into Intra-day slide on Gold towards #1,985.80 Bottom which I Bought back towards #2,000.80 benchmark (kept the order over-night as my order was closed with Profits automatically).


Technical analysis: Gold firstly invalidated #2,000.80 benchmark and almost #2,010.80 Resistance in extension delivering Bull-trap in form of a fakeout, engaged aggressive relief rally which was later Sold. This is not the most important Resistance level though, it is the Hourly 4 chart’s #2,014.80 configuration. As long as Gold is below it the Hourly 4 chart’s Support zone of #1,978.80 - #1,980.80 will be continuously tested but above it, the goal is the Hourly 4 chart’s #2,000.80 benchmark once again (sequence I utilized lately and will continue to do so). Do not Trade this without breakout points, fractal will be under violent Volatility as long as Price-action remains isolated within Neutral Rectangle. I was expecting Daily chart’s Gap fill and #2,000.80 in extension, however Price-action will most likely close the market below #1,991.80 Resistance. As I noted, Gold is surely correlated with DX again (February #27 - July #27 sequence), but this time Diagonally (when DX is rising, Gold should slide). DX is still under indecision candles and that is the reason behind the strong Volatility Gold is Trading under (however Yields chart shouldn’t be out of equation totally). Most important pointer is Technical necessity for a Lower High’s Lower zone test (#1,971.80 sequence or below) and Resistance rejection should engage Support test in motion. Price-action still didn’t marginally invalidated Neutral Rectangle as dominant channel on Daily chart is still Descending (pointing to prolonged weakness on Medium-term). My Medium-term projection remains #1,952.80 of course but Gold is Buying back every dip which Price-action delivers on #2-Month fractal. Sequence has turned Hourly 4 chart practically Neutral as the width is even wider on the Rectangle. By my calculations #2,010.80 was obvious Top on my calculations however DX was taking strong hits on parabolic downtrend. I see no other alternative to Buy / Sell with tight Stops and strict Stop-loss selection until market delivers major move.


My position: I have used this chance to re-Sell Gold after #2,000.80 benchmark hit / Profit, with #1,980.80 as my optimal Target once again. Keep in mind that today's session GDP may deliver weaker reading which will add credence to DX's Buyers (arising recession fears), configuration which will add heavy Selling pressure on Gold. I will maintain my order and monitor closely, especially before and after GDP announcement.