As discussed throughout my yesterday's session commentary: "My position: As #2,000.80 benchmark is not recovered (due DX soaring miraculously), I am aiming for #1,952.80 barrier test in addition as now #1,900'a are back on my charts. Gold was unable to recover #2,000.80 benchmark and besides Hourly 4 chart being critically Oversold and pointing that Bottom should be form, some aspect made me sceptical regarding the Intra-day relief rally. Therefore, I have engaged Selling order (#1,989.80 entry point) looking to continue my winning run (#1,952.80 is my Optimal Target for the fractal)."
I have closed my Selling order few moments ago (#1,989.80 - #1,976.80) on a fine #14 point Profit, extending my results range to #70 Profits and #17 Stop-loss hits regarding April #2022 - May #2023 cycle. I will use this chance to congratulate Traders who followed my call and had patience to hold the order throughout Volatility, well done!
Technical analysis: Following a somewhat rather monstrous fake-out through the trendline of Hourly 4 chart’s Support of #1,982.80 throughout yesterday’s U.S. session, added more non-logical moves similar to ones made throughout December and end of November. Gold is filling lot's of Stop-loss orders (Traders getting liquidated) from those attempting to follow decent fair Technical Buying and also trapping breakout Buyer’s orders, since Gold is only without recovery due to the constant High’s DX, however such slide on Gold below main Support and with strong DX was relatively easy to foresee. Gold pressed for Higher ground, concluding the session just south of Hourly 4 chart’s local High’s and creating new Bearish wave of #15+ points, which today’s session will confirm / whether is it sustainable or not. I am confident in #1,962.80 sequence test, however unstable market sentiment and Volatile setting are trapping Buyers as Sellers and Scalpers are getting most of the returns on this current Price-action. Since many Buyers are now trapped, their eminent Stop-losses are near #1,988.80 - #1,991.80 zone, in order to get them liquidated, mentioned Resistance zone test was possible and another takedown towards #1,982.80 first, then #1,975.80 session Low’s (that's why my Stop-loss on my Selling order was on #2,001.80 to evade that scenario).
My position: Technical Selling formation on Hourly 4 chart is even more visible as Higher Low’s Lower zone got invalidated to the downside (delivering me a Selling signal which I utilized on early E.U. throughout yesterday's session which is now closed with Profits) as Selling sequence is in extension. Next point of contact is #1,975.80 session Low’s and coupled with DX on relief rally, Price-action is seeking it’s neckline. It is also important to note that Hourly 4 chart being Oversold on my instruments and the Volume is gradually rising (more and more Traders are participating in the market). My estimates are intact regarding Support zone extension however maximum advance point of current fractal (even though DX is soaring) and attempt to invalidate the Support threshold is so far unsuccessful in delivering full oscillation towards #1,962.80 Support seen Trading widely below. The crossing of that level signals the Selling sustainability on the Short-term as current development made the Short-term trend switch (Bearish potential is strongly increasing). I assume no orders for now as I will look to re-Sell Gold as soon as possible.
I have closed my Selling order few moments ago (#1,989.80 - #1,976.80) on a fine #14 point Profit, extending my results range to #70 Profits and #17 Stop-loss hits regarding April #2022 - May #2023 cycle. I will use this chance to congratulate Traders who followed my call and had patience to hold the order throughout Volatility, well done!
Technical analysis: Following a somewhat rather monstrous fake-out through the trendline of Hourly 4 chart’s Support of #1,982.80 throughout yesterday’s U.S. session, added more non-logical moves similar to ones made throughout December and end of November. Gold is filling lot's of Stop-loss orders (Traders getting liquidated) from those attempting to follow decent fair Technical Buying and also trapping breakout Buyer’s orders, since Gold is only without recovery due to the constant High’s DX, however such slide on Gold below main Support and with strong DX was relatively easy to foresee. Gold pressed for Higher ground, concluding the session just south of Hourly 4 chart’s local High’s and creating new Bearish wave of #15+ points, which today’s session will confirm / whether is it sustainable or not. I am confident in #1,962.80 sequence test, however unstable market sentiment and Volatile setting are trapping Buyers as Sellers and Scalpers are getting most of the returns on this current Price-action. Since many Buyers are now trapped, their eminent Stop-losses are near #1,988.80 - #1,991.80 zone, in order to get them liquidated, mentioned Resistance zone test was possible and another takedown towards #1,982.80 first, then #1,975.80 session Low’s (that's why my Stop-loss on my Selling order was on #2,001.80 to evade that scenario).
My position: Technical Selling formation on Hourly 4 chart is even more visible as Higher Low’s Lower zone got invalidated to the downside (delivering me a Selling signal which I utilized on early E.U. throughout yesterday's session which is now closed with Profits) as Selling sequence is in extension. Next point of contact is #1,975.80 session Low’s and coupled with DX on relief rally, Price-action is seeking it’s neckline. It is also important to note that Hourly 4 chart being Oversold on my instruments and the Volume is gradually rising (more and more Traders are participating in the market). My estimates are intact regarding Support zone extension however maximum advance point of current fractal (even though DX is soaring) and attempt to invalidate the Support threshold is so far unsuccessful in delivering full oscillation towards #1,962.80 Support seen Trading widely below. The crossing of that level signals the Selling sustainability on the Short-term as current development made the Short-term trend switch (Bearish potential is strongly increasing). I assume no orders for now as I will look to re-Sell Gold as soon as possible.
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- 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.