Keeping my Selling order / Stop-loss moved to entry of #1,778.80

Gold's general commentary: This week’s Fundamentals missed their estimates by a respectable margin and the DX is already pulling back on a strong Bearish Daily candle. Bond Yields also follow that decline and the only reason Gold hasn't acted according to it's negative correlation is the consolidation of Investors capital on High levels. Soon enough I am expecting #2 Gaps to be closed (Bond Yields upwards and Gold downwards) which will be ultimate Profit opportunity. However the Price-action is just below it's Daily chart Neutral Rectangle zone and it should start pulling downwards, so according to my Technicals, Gold is on the verge of an aggressive Bearish breakout. As long as Hourly 4 chart remains stable, Gold has more chances of breaking the #1,750.80 neckline of the Daily Three Outside Down Bearish candles than testing the Daily chart’s Resistance zone #1,792.80 (and above). I remain fully Bearish on the Long-term, and I expect #1,747.80 break within #5 sessions. Also on Hourly 4 Chart, as I can see confronted Sellers head on throughout today’s session. Influenced by a pullback on Yields, Hourly 4 action pressed Gold as far downwards as current values. Ultimately, I believe if the market tests Daily Support and breaks it (highlighted above), rotation to the upside will be taken out from consideration. This is simply because both Weekly and Daily timeframes agree's on the same Support. The break through Hourly 4 Support aswell, if happens, theoretically clears the majority of Buyers out of the market, unlocking the pathway to Lower levels. Gold is ready to convert into Rising Wedge on Hourly 4 chart, which is pointing for further decline on the cards.


Technical analysis: It is more than obvious that the Price-action is under heavy Volatility on all charts from Weekly through Daily with Williams% respectively on another near flat Daily candle throughout yesterday's session (# -0.14%). It is still early stage of the week as Gold is showing High durability and preventing further downside, aided by Selling sequence on Yields adding strong Bullish pressure on Gold. Price-action is Trading within Neutral zone, as Yields Lower High rejection attracted Sellers which closed the Bullish Gap fill and continued the decline, having direct impact on Gold, located within Hourly 4 chart’s Bollinger Bands. As expected DX bounced off the Hourly 4 major Support zone of #91.60 and is now comfortably Trading above (spot that the same Gap happened on Yields, closed almost Intra-day). If Yields can digest current week’s Fundamentals without too much panic Selling (Investors relocating capital), then the Daily chart’s Channel Down on Gold should continue to point to a new Selling sequence on Gold. As I determined the trend, every Resistance test and potential rejection on Gold represents decent Selling opportunity. Current consolidation once again resembles the October - November #2018 pattern before the future downward movement (now the Higher Low is Higher). This is only the small trace back but still, taking all circumstances in consideration, assuming that Gold will continue Bearish momentum, Targets remained unchanged.


My position: I moved my Stop-loss from #1,792.80 to #1,778.80 (my entry for current Selling position) as I will comfortably monitor my position without chances for a loss. Price-action broken the #1,770.80 Support, as next Support is located near #1,762.80 configuration. Traders who took my call are already in decent Profits and can close the order now, or move the Stop-loss to entry (or even less) and let the order run without risks, moving Stop-loss every few points down to prevent unexpected scenarios. My Target is #1,747.80 Lower Low extension.