As discussed throughout my yesterday's session commentary: "My position: As it is obvious, I am heavily on Selling side even though the Stop-loss on my yesterday's order got triggered (#13 point Stop-loss from my #1,831.80 entry point). However, I have engaged new Selling order with #1,838.80 as my new entry point. My new / old outlook aims for #1,806.80 Support zone once again, and if #1,831.80 gets crossed again, Sellers have decent chance to test and break #1,825.80 pressure point Intra-day. My practical suggestion is to Trade this with strict Risk management."
I have closed my Selling order Intra-day throughout yesterday's session (#1,838.80 - #1,826.80) on a fine #12 point Profit run which instantly recovered the loss I had the previous session. I am currently on #19 Profits row and #4 Stop-loss hits regarding April - May - June fractal.
Technical analysis: As discussed, Gold’s collapse throughout yesterday’s session was attributed to the cyclical movements within newly formed Neutral Rectangle and general Volatility on the market (as Fed is clearly manipulating every asset class and quietly evades further tapering talks / transitory Inflation and such) as yet again - DX (main correlation I have regarding Gold at the moment) was Trading on gains with every Hourly candle and Gold naturally suffered losses, pointing again on the strong Volatility market is Trading under since late May - early June. Technicals are showing strong Bearish continuation ahead, as I still didn’t shifted my strategy from Bearish to Neutral, as I have no other option since lately, trend shifts on Daily basis due sudden swings on DX, directly affecting Gold. Most appropriate action chart is the Hourly 4 where my analysis suggest that Gold is still isolated inside the #1,822.80 - #1,842.80 variance potentially eyeing #1,800.80 psychological barrier and #1,752.80 extension on Medium-term. Bullish reversal is in motion only if #1,852.80 is invalidated (and market closes above the variance) which is far away, as Gold is looking rather weak to sustain the uptrend.
My position: As I am more than satisfied with my current Trading results for the cycle, I will remain on sidelines, awaiting chance to Sell Gold once again, as I am not interested in Buying regarding both Short and Medium-term. I had a plan within my model to Sell Gold on spot on today's early E.U. session, but as Gold is once again within Neutral Rectangle, and most importantly DX is Trading on side swings, Selling pressure on Gold naturally eased and left me without any Selling opportunities for the session. Do not be surprised if you see thin volume throughout today's session without any major moves. #1,822.80 - #1,820.80 is my new Support cluster of utmost importance.
I have closed my Selling order Intra-day throughout yesterday's session (#1,838.80 - #1,826.80) on a fine #12 point Profit run which instantly recovered the loss I had the previous session. I am currently on #19 Profits row and #4 Stop-loss hits regarding April - May - June fractal.
Technical analysis: As discussed, Gold’s collapse throughout yesterday’s session was attributed to the cyclical movements within newly formed Neutral Rectangle and general Volatility on the market (as Fed is clearly manipulating every asset class and quietly evades further tapering talks / transitory Inflation and such) as yet again - DX (main correlation I have regarding Gold at the moment) was Trading on gains with every Hourly candle and Gold naturally suffered losses, pointing again on the strong Volatility market is Trading under since late May - early June. Technicals are showing strong Bearish continuation ahead, as I still didn’t shifted my strategy from Bearish to Neutral, as I have no other option since lately, trend shifts on Daily basis due sudden swings on DX, directly affecting Gold. Most appropriate action chart is the Hourly 4 where my analysis suggest that Gold is still isolated inside the #1,822.80 - #1,842.80 variance potentially eyeing #1,800.80 psychological barrier and #1,752.80 extension on Medium-term. Bullish reversal is in motion only if #1,852.80 is invalidated (and market closes above the variance) which is far away, as Gold is looking rather weak to sustain the uptrend.
My position: As I am more than satisfied with my current Trading results for the cycle, I will remain on sidelines, awaiting chance to Sell Gold once again, as I am not interested in Buying regarding both Short and Medium-term. I had a plan within my model to Sell Gold on spot on today's early E.U. session, but as Gold is once again within Neutral Rectangle, and most importantly DX is Trading on side swings, Selling pressure on Gold naturally eased and left me without any Selling opportunities for the session. Do not be surprised if you see thin volume throughout today's session without any major moves. #1,822.80 - #1,820.80 is my new Support cluster of utmost importance.
- My official and only Telegram Channel: t.me/goldenBear88
- 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.
