Gold Trading under violent Volatility on Intra-day basis

Gold's general commentary: The Price-action was circling the #1,800.80 mark but not gaining more Selling momentum as the DX found the Support. I cannot peculate how far or upwards Gold can soar fueled by new market sentiment, only follow it Technically. And Technically, a #10 point Stop-loss (moving the Stop-loss in Profits every #5 points) will be acceptable risk at the moment, as engaging any kind of order on such Volatile bias is not advisable. Gold is approaching again the Lower High’s trendline of the Hourly 1 chart’s Volatility (on one of the strongest Intra-day mixed values since late September - early October violent Volatility), slightly below my Resistance zone which is an ideal Selling point. As discussed, unless #1,821.80 breaks, Price-action within is Neutral zone, leans to Bearish and suitable only for Sellers as possible Double Top formation is emerging, limiting the uptrend. As expected, Gold firstly ignores the DX, and then (just in few sessions) react to the DX losing with every Hourly candle and broke through the Lower layer of the Rectangle, but current defence line poses as the strong Support which engaged Intra-day recovery on the currency. I will continue Selling (tight stops) as long as Bond Yields are comfortably Trading above the Resistance zone.


Technical analysis: Personally, I won't engage any kind of orders on such violent Volatility (at least for today's session), where Gold breaks the Resistance aggressively, gets rejected above and lose value of more than #15 points on just #1-session horizon (much similarities on the other side, with Support breaks). This kind of Price-action is not suitable for any kind of Trading strategy. Needles to mention, it is not a coincidence that Gold is soaring (without known reason, as all previous valid reasons are already priced in and digested by the market: Inflation, new virus variant, Real Yields on Neutral level). Gold may break the #1,821.80 Resistance, and get rejected above and reversing with #15 + points (which is the new norm lately), which can endanger my capital. I see no sustainable move on both sides, and as discussed, such violent Volatility is better to be monitored from sidelines. DX is within Neutral territory, Bond Yields were on Monthly High's, Usd-Jpy near Higher High's extension (without High impact macro-economic announcements), and yet Gold broken the Support and reversed towards #1,815.80 extension sharply, confirming my outlook. However, I am more than satisfied with how I preserved my capital throughout #Q4, and can add surely that January will be indeed an exciting Month to Trade, with taking fresh orders throughout Monday's session. Enjoy the weekend!