As discussed throughout my Friday's session commentary: "My position: I have engaged my Buying order with #1,785.80 as an key entry point. Optimal Target for the sequence remains #1,815.80 Short-term Resistance. I expect my Target to be filled within #2-session horizon."
I have closed my Buying order (#1,785.80 - #1,802.80) on a fine #17 point Profit run, extending my results range to #44 Profits row and #11 Stop-loss hits regarding April - December cycle. I will use this chance to congratulate Traders who followed my call and had patience to hold the order, well done!
Technical analysis: Bullish Gap was filled nicely throughout Friday’s session and as the result, you witnessed strong Buying pressure on Gold. Eminent recovery candles on DX are still not sufficient to keep Gold above its fair Technical value and remains merely ranged within #1,782.80 - #1,800.80 belt. Both Hourly 1 and 4 chart’s are Bullish due to this consolidation but since Daily chart is Trading slightly below it’s pivot point, I am staying with the dominant Medium-term trend which remains aggressively Bullish. It is important to note that for Bullish Medium-term sustainability, it is crucial to have Weekly closing above the #1,800.80 level (posing as an strong benchmark lately, level of utmost importance). As expected the Price-action reached the middle of the accumulation zone as I will keep operating with Buying orders (Buying every Bottom), aiming for at least for #1,827.80 local High’s (Top of the current Daily chart’s configuration). Even though based on the Weekly chart’s (#1W) Lower High’s sequence, Gold may Trade as High as #1,825.80 - #1,827.80, as current Price level is a good place to start and add up more orders, pursuing Upper levels. With DX breaking its #105.200 Medium-term Support, Gold's Price-action is this High mainly due to the decline on world markets as it is acting as a safe-haven (the drop on Bond Yields and instant recovery came in #2nd). Keep an eye on next week’s Fundamentals. Note also that Daily chart is Trading under healthy Bullish Technicals so it is important to time my Buying orders accordingly. Gold is on a tight balance at the moment, positively biased by the pullback on world equities and Stock market, but still on a Medium-term positive cycle due to the continuous Low’s on DX. The DX is on its way to extend its Selling sequence way below Support and if it succeed, should push Gold even Higher which should be the most optimal zone to Buy for the next Bullish leg, as I needed to be extra careful with my Stop-loss selection.
My position: I have engaged additional Buying order (#1,790.80 as an entry point) with optimal Target seen Trading at #1,815.80 (posing as an Resistance aswell).
I have closed my Buying order (#1,785.80 - #1,802.80) on a fine #17 point Profit run, extending my results range to #44 Profits row and #11 Stop-loss hits regarding April - December cycle. I will use this chance to congratulate Traders who followed my call and had patience to hold the order, well done!
Technical analysis: Bullish Gap was filled nicely throughout Friday’s session and as the result, you witnessed strong Buying pressure on Gold. Eminent recovery candles on DX are still not sufficient to keep Gold above its fair Technical value and remains merely ranged within #1,782.80 - #1,800.80 belt. Both Hourly 1 and 4 chart’s are Bullish due to this consolidation but since Daily chart is Trading slightly below it’s pivot point, I am staying with the dominant Medium-term trend which remains aggressively Bullish. It is important to note that for Bullish Medium-term sustainability, it is crucial to have Weekly closing above the #1,800.80 level (posing as an strong benchmark lately, level of utmost importance). As expected the Price-action reached the middle of the accumulation zone as I will keep operating with Buying orders (Buying every Bottom), aiming for at least for #1,827.80 local High’s (Top of the current Daily chart’s configuration). Even though based on the Weekly chart’s (#1W) Lower High’s sequence, Gold may Trade as High as #1,825.80 - #1,827.80, as current Price level is a good place to start and add up more orders, pursuing Upper levels. With DX breaking its #105.200 Medium-term Support, Gold's Price-action is this High mainly due to the decline on world markets as it is acting as a safe-haven (the drop on Bond Yields and instant recovery came in #2nd). Keep an eye on next week’s Fundamentals. Note also that Daily chart is Trading under healthy Bullish Technicals so it is important to time my Buying orders accordingly. Gold is on a tight balance at the moment, positively biased by the pullback on world equities and Stock market, but still on a Medium-term positive cycle due to the continuous Low’s on DX. The DX is on its way to extend its Selling sequence way below Support and if it succeed, should push Gold even Higher which should be the most optimal zone to Buy for the next Bullish leg, as I needed to be extra careful with my Stop-loss selection.
My position: I have engaged additional Buying order (#1,790.80 as an entry point) with optimal Target seen Trading at #1,815.80 (posing as an Resistance aswell).
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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.
