Closing my Selling order / #21 Profits row / Sell active
As discussed throughout my yesterday's commentary: "My position: As stated above, my original (Tuesday's session) order is still active, with #1,823.80 as an entry point. So far it is under control as I am awaiting values near #1,806.80 Support zone to close my original order."
I have close my original order aswell, engaged on Tuesday (#1,823.80 - #1,804.80) on a fine #19 point Profit extension, exceeding my Profits run to #21 row and #4 Stop-loss hits regarding April - June cycle. I will use this chance to congratulate Traders who followed my call and had patience to hold the order on more than #1-session horizon, well done!
Technical analysis: Despite the Fundamental reports missing their estimates and High’s on both DX and Usd-Jpy pair (but not on Bond Yields), Gold dint' managed to keep Supported above #1,800.80 psychological barrier and currently on over-extended decline, but yet, #20 point decline was Technically too little to add to the Oversold levels and such Selling bias. However I don't expect those to play that big of a role in the coming days. At the moment Gold Technically should be even below the #1,792.80 fractal and if DX extend the uptrend and Bond Yields engage the Short-term recovery / Gold will be considerably Lower. It is important to note that Gold is showcasing Bearish values since invalidated Ascending Channel on Hourly 1 chart was instantly counterbalanced by Daily chart’s Descending Channel, adding constant Selling pressure on Gold and the result is this decline you witnessed (then Normally, classic consolidation candles are visible). If Support of #1,792.80 gets broken below on minimum #2 points, expect #1,778.80 to be filled Intra-day, which can prepare the terrain for additional losses early next week, which will reach again the Lower Low’s trendline of the Daily chart’s Channel. If rejected near the Support, expect another relief session on Gold with not much Price-action. As long as Daily chart is Bearish, both scenarios are not equally probable on the Short-term, since Gold should give another Lower Low’s, as cycle of #3 Lower Low’s should be repeated. On the Medium-term though, as long as Gold Trades below the #MA50 on Daily chart, it has more probabilities to make a Lower Low’s than a Higher High’s.
My position: Without hesitating, I have engaged new Selling order with #1,796.80 as an key entry point. My Selling order has #1,780.80 as an first Target, and since it is Friday's session, I will look to close the order soon enough and implement strict Risk management which will protect my capital and previous results. I am expecting ISM PMI to add more credence to Gold's Sellers Fundamentally aswell, where Gold aims for Lower levels as long as it is Trading below #1,814.80 - #1,816.80 Resistance zone.
Important update: As an addition to providing market insights and guidance on Gold (signals), I have been receiving increased inquiries regarding mentorship and Trading education. With that being said, I have decided that I will not only be providing consulting in regards to the market but I will also be providing teaching and education on Gold Trading (#1 on #1 classes) / this I’ll include Technical and Fundamental analysis . If this is something you are interested in or if this is something you have requested from me, please feel free to get in contact with me to get further information.
I have close my original order aswell, engaged on Tuesday (#1,823.80 - #1,804.80) on a fine #19 point Profit extension, exceeding my Profits run to #21 row and #4 Stop-loss hits regarding April - June cycle. I will use this chance to congratulate Traders who followed my call and had patience to hold the order on more than #1-session horizon, well done!
Technical analysis: Despite the Fundamental reports missing their estimates and High’s on both DX and Usd-Jpy pair (but not on Bond Yields), Gold dint' managed to keep Supported above #1,800.80 psychological barrier and currently on over-extended decline, but yet, #20 point decline was Technically too little to add to the Oversold levels and such Selling bias. However I don't expect those to play that big of a role in the coming days. At the moment Gold Technically should be even below the #1,792.80 fractal and if DX extend the uptrend and Bond Yields engage the Short-term recovery / Gold will be considerably Lower. It is important to note that Gold is showcasing Bearish values since invalidated Ascending Channel on Hourly 1 chart was instantly counterbalanced by Daily chart’s Descending Channel, adding constant Selling pressure on Gold and the result is this decline you witnessed (then Normally, classic consolidation candles are visible). If Support of #1,792.80 gets broken below on minimum #2 points, expect #1,778.80 to be filled Intra-day, which can prepare the terrain for additional losses early next week, which will reach again the Lower Low’s trendline of the Daily chart’s Channel. If rejected near the Support, expect another relief session on Gold with not much Price-action. As long as Daily chart is Bearish, both scenarios are not equally probable on the Short-term, since Gold should give another Lower Low’s, as cycle of #3 Lower Low’s should be repeated. On the Medium-term though, as long as Gold Trades below the #MA50 on Daily chart, it has more probabilities to make a Lower Low’s than a Higher High’s.
My position: Without hesitating, I have engaged new Selling order with #1,796.80 as an key entry point. My Selling order has #1,780.80 as an first Target, and since it is Friday's session, I will look to close the order soon enough and implement strict Risk management which will protect my capital and previous results. I am expecting ISM PMI to add more credence to Gold's Sellers Fundamentally aswell, where Gold aims for Lower levels as long as it is Trading below #1,814.80 - #1,816.80 Resistance zone.
Important update: As an addition to providing market insights and guidance on Gold (signals), I have been receiving increased inquiries regarding mentorship and Trading education. With that being said, I have decided that I will not only be providing consulting in regards to the market but I will also be providing teaching and education on Gold Trading (#1 on #1 classes) / this I’ll include Technical and Fundamental analysis . If this is something you are interested in or if this is something you have requested from me, please feel free to get in contact with me to get further information.
- 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.
