#1,855.80 on the cards, then #1,752.80 on the aftermath

Gold's general commentary: Irregular movements at the moment on the Short-term as Gold continues to Trade sideways within the #1,820.80 - #1,830.80 belt / Resistance is invalidated on #2 occasions and #1,796.80 first Support on the Hourly 4 chart, #3 occasions. If I can draw anything positive out of this #3-week’s Volatility, is that Gold revealed the underlying Short-term trend switch to - Bullish as Hourly 4 chart is Trading under Buying pressure, which is nothing more than Fed coming to rescue Bulls (as it was the case many times throughout Q1 and Q2). I expect correction (steeper fall) on possible #1855.80 test aftermath and aggressive correction towards #1,752.80 pressure point, once Fundamental dust settles. One important difference though: #1,820.80 Support is near, and break of (along with Yields on an eminent uptrend, above #1,2710) it can extend the Price-action towards the #1,800.80 Support extension. However on the other side, #1,834.80 is the Resistance, and as Crypto market is cracking under strong pressure due regulatory risks, Investors are using Gold again as an safe-haven, and with Fed-fueled uptrend, can peak again near #1,855.80, which is the maximum of current uptrend, as Buying is strongly limited (Gold is Trading within eminent Bull Flag, which is able to spike up the Price-action). Fed is keeping Yields Lower to fight against Inflation, which is Buying every dip and adding Bullish candles in succession, wiping Sellers off the markets along with extreme Volatility. Needless to mention, Gold’s fair Technical Price would be near #1,752.80 by now. Since current Price-action (for consecutive #3 Week’s now) is distorting Technical trends, I will continue utilizing strict Risk management.


My position: As I covered 70% of #2 consecutive Stop-loss hits with my Target hit (July #22) and current Selling order closed on breakeven, trend on Gold has changed (however Medium-term Selling extension is intact), and Gold can now test the #1,855.80 peak. I engaged Buying order on #1,827.80 (as market closed above the configuration and possible ultimate Top), and will pursue the #1,850.80 mark with my Buying order. If that fails and market continue the consolidation, I might close my order on or near the breakeven. Continue Buying Gold as long as Yields are on parabolic downtrend, and DX taking strong hits without finding the Support. #1,820.80 Support break and market closing below, offers clean #1,800.80 psychological barrier test (less likely for #2 session horizon).