After closing my yesterday's set of Buy orders (#20th Profit in a row), my chart and model worked perfectly well as Resistance zone rejected the Price-action. As is visible on chart, Gold was soaring, and Bond notes (#5Y) were still Trading within Hourly 4 Rectangle on healthy Channel Down, which added decent Buying pressure on Gold and made me certain in my Buying position I engaged on yesterday's session. However, Bond notes are near Support, and rejection can alter the Bullish leg on Gold, and is expected as my Lower Low strategy is still valid - expecting Gold to give one more Lower Low near #1,832.80. That’s why I have this as my main point of interest as I will monitor Bond notes and then make my move. Another strong Bearish Daily chart candle (# -0.77% so far) with the downtrend on Hourly 4 mini-Channel Down testing the #1,875.80 first Support. Besides Technical correlations, important Fundamental/Bullish factor at the moment is the relief on global geopolitics (Trade war positive developments, Monetary stimulus hopes) which cause risky assets to lose and Gold to gain, but only regarding Short-term. This shows how deflated Gold was due to these tensions during this most recent Bearish leg. Gold is being kept on higher levels despite DX’s decline mainly due to the Bearish candles on Bond notes. The slightest pullback on Bond notes should push Gold inside the #1,865.80 ideal Sell Zone (strongly rejecting any upside move on the Weekly chart) where I will be waiting to Sell the market on a Long-term basis. Keep in mind that only a break above #1,900.80 constitutes a Bullish continuation sign for the Short-term. In order to harmonize Neutral Gold, #5-10 sessions may be required based on the previous two Higher Low pull backs of a # -1.70% magnitude (similar scenario occurred on January #24 and February #14 ). Notice how the pre-Fundamental speculation since the start of the week has been pricing the unfavorable Stimulus prospect with a sell off on DX, which is still in crisis after the very encouraging numbers last week. Typical institutional Trading approach ahead of big economic events. Bottom line: If #1,870.80 Support don't reject the Price-action, I won't hesitate to engage my set of Sell orders towards #1,832.80. However, if #1,870.80 Support rejects the Price-action, I will re-Buy.
Your recent calls have been impressive, but if I recall correctly you have had a couple of stop losses hit after you had a little more than 10 in a row. Why do you not count these? Your calls have been right most of the time lately, very impressive, but its not 20 in a row.
goldenBear88
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@Ymir1, You are right. Besides #20 Profits, I got #2 Stop-loss hits, and as you could see - I pointed on it on my reports (also on my current one), but in few last ones, was tired to repeat it all the time. Anyways, that is less important - what is crucial is - I am / we are making huge Profits in total.