Sequence is approaching my #1,927.80 first Target
Fundamental analysis: Gold was Trading on #2-session row of sideways motion for the first time since May #14. Same Hourly 4 chart’s sequence was delivered then when May #14 - May #16 Triangle was invalidated to the downside, led to the aggressive (# -3.85%) slide in #13 sessions. Right now same Triangle is formed and market has to pick a side and since pattern is invalidated to the downside once again (#86.77% chances), #1,900.80 and #1,852.80 benchmarks are Targets to monitor (rough estimate). With both Hourly 4 and Daily chart on strong Sell mode and Sellers presence, I expect #1,927.80 - #1,932.80 Support zone touch and crossed soon. Technically mini Ascending Channel attempt on Hourly 1 chart should was strongly restricted to an #1,948.80 - #1,952.80 maximum. I will keep operating with my Selling orders with tight Stops, Selling orders with Technical Low risk and Selling every High's that Gold delivers. It is important to note that Debt ceiling polemic is adding Buying pressure on DX.
Technical analysis: Price-action is now on the #4th straight Hourly 4 chart's Bearish candle, attempting to leave behind the Daily chart’s #MA50 (currently seen Trading at #1,991.80) but the attempt so far seem rejected. New cycle spotted within my model showcases that when Gold surges below the #MA50 by more than #20 points, it rallies much more and was a Bearish Medium-term call on May #17. It is important to note that if #1,991.80 first and then #2,000.80 benchmark aren't recovered as soon as possible (very slim chances) then expect #100 - #120 decline in continuation from this point. Both the DX and the Bond Yields are on (at least) Short-term High's, so any break Higher should boost Gold's Prices much Lower (showcasing heavy Selling pressure Gold is Trading under). If it wasn't for the parallel pressure from DX subsequently regarding past Month's, I estimate Gold would have been below #2,000.80 benchmark both ways.
My position: Selling every High's is delivering spectacular results as I have Sold on #1,949.80 throughout yesterday's session and closed the order on #1,935.80 early this morning, booking #15-point Profit. Since I can allow additional risk, I have Sold again (#1,935.80 entry point) with #1,900.80 benchmark as my Target. #1,927.80 (my former Short-term Target) which I announced since #1,990's is slowly realising, and #1,900.80 benchmark will become my next Target and point of interest.
Technical analysis: Price-action is now on the #4th straight Hourly 4 chart's Bearish candle, attempting to leave behind the Daily chart’s #MA50 (currently seen Trading at #1,991.80) but the attempt so far seem rejected. New cycle spotted within my model showcases that when Gold surges below the #MA50 by more than #20 points, it rallies much more and was a Bearish Medium-term call on May #17. It is important to note that if #1,991.80 first and then #2,000.80 benchmark aren't recovered as soon as possible (very slim chances) then expect #100 - #120 decline in continuation from this point. Both the DX and the Bond Yields are on (at least) Short-term High's, so any break Higher should boost Gold's Prices much Lower (showcasing heavy Selling pressure Gold is Trading under). If it wasn't for the parallel pressure from DX subsequently regarding past Month's, I estimate Gold would have been below #2,000.80 benchmark both ways.
My position: Selling every High's is delivering spectacular results as I have Sold on #1,949.80 throughout yesterday's session and closed the order on #1,935.80 early this morning, booking #15-point Profit. Since I can allow additional risk, I have Sold again (#1,935.80 entry point) with #1,900.80 benchmark as my Target. #1,927.80 (my former Short-term Target) which I announced since #1,990's is slowly realising, and #1,900.80 benchmark will become my next Target and point of interest.
- 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.