As discussed throughout my yesterday's session commentary: "My position: I will keep utilizing Selling every Top's strategy (for #3-Month fractal now) as my Selling order engaged on Friday's session is still active (#1,958.80 entry point) as it is very important that market closed below #1,957.80 sequence. DX is my main chart for now and look for pointers there prior to positioning. #1,942.80 is my first Target."
I have closed my Selling order I held over the weekend break (#1,958.80 - #1,946.80) and closed with #12-point Profit throughout yesterday's session, extending my results range to #83 Profits and #19 Stop hits on April #2022 - July #2023 cycle.
Technical analysis: DX continues with Selling sequence, delivering Buying spikes on Gold's Intra-day basis. Current numbers on DX are not enough for meaningful reversal on Gold as #1,952.80 benchmark will reject every pullback motion. #1,964.80 and #1,968.80 are Resistance lines which are firm on Buyer's path towards #1,982.80. #1,952.80 represents sole benchmark ahead of #1,942.80 and #1,927.80 contact point. There is evident cycle on Daily chart I spotted and allow me to elaborate; Daily chart trendline taken from November #4, #2022 rejected the Selling sequence on Mart #8, #2023 and deliverer breakout on June #6 (following with June #16 re-test) and on June #19, full scale oscillation towards Lower levels as the Price-action is still Trading below the former trendline. Uptrend from November #4 #2022 deliverer #182 rising days (on a # +25.87% gradient) and current if cycle is delivered to the downside in the same manner, I can expect #1,700.80 benchmark test easily as Gold is currently on only #27th day of the cycle (symmetry of #155 days more of the cycle). I see no real value on the current Price range as Gold is following DX movements almost on every candle. Regardless Hourly 4 chart remains within Ascending Channel but on very Low Volume as configuration is showcasing that those Channels end as Bearish formations within its Descending Channel bands. I can currently distinct an Scalping pattern based on Hourly 4 chart's High Volatility belt as this Price-action is only applicable to day Traders. I utilize the wider Swings so I will stick to my Selling entries which I've mentioned on previous remarks. Remember that we should Trade Gold only based on it's distinct characteristics as an financial asset rather than a commodity.
My position: When you are unsure of the Medium-term direction on Gold always look for clues on DX and Trade accordingly. Even though DX still remains weak, #1,961.80 - #1,963.80 is excellent Selling area which I will utilize by Selling at current market price towards #1,942.80 contact point and strong Support of the fractal.
I have closed my Selling order I held over the weekend break (#1,958.80 - #1,946.80) and closed with #12-point Profit throughout yesterday's session, extending my results range to #83 Profits and #19 Stop hits on April #2022 - July #2023 cycle.
Technical analysis: DX continues with Selling sequence, delivering Buying spikes on Gold's Intra-day basis. Current numbers on DX are not enough for meaningful reversal on Gold as #1,952.80 benchmark will reject every pullback motion. #1,964.80 and #1,968.80 are Resistance lines which are firm on Buyer's path towards #1,982.80. #1,952.80 represents sole benchmark ahead of #1,942.80 and #1,927.80 contact point. There is evident cycle on Daily chart I spotted and allow me to elaborate; Daily chart trendline taken from November #4, #2022 rejected the Selling sequence on Mart #8, #2023 and deliverer breakout on June #6 (following with June #16 re-test) and on June #19, full scale oscillation towards Lower levels as the Price-action is still Trading below the former trendline. Uptrend from November #4 #2022 deliverer #182 rising days (on a # +25.87% gradient) and current if cycle is delivered to the downside in the same manner, I can expect #1,700.80 benchmark test easily as Gold is currently on only #27th day of the cycle (symmetry of #155 days more of the cycle). I see no real value on the current Price range as Gold is following DX movements almost on every candle. Regardless Hourly 4 chart remains within Ascending Channel but on very Low Volume as configuration is showcasing that those Channels end as Bearish formations within its Descending Channel bands. I can currently distinct an Scalping pattern based on Hourly 4 chart's High Volatility belt as this Price-action is only applicable to day Traders. I utilize the wider Swings so I will stick to my Selling entries which I've mentioned on previous remarks. Remember that we should Trade Gold only based on it's distinct characteristics as an financial asset rather than a commodity.
My position: When you are unsure of the Medium-term direction on Gold always look for clues on DX and Trade accordingly. Even though DX still remains weak, #1,961.80 - #1,963.80 is excellent Selling area which I will utilize by Selling at current market price towards #1,942.80 contact point and strong Support of the fractal.
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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.