My #127 point decline is near finishing phase / great Profits
First of all, I'd like to congratulate everyone on great Profits regarding my #1,800.80 psychological barrier and less projection (#127 decline ahead announcement last week on my commentary), I've received more than #200 messages as I apologize since I didn't answered on each message due to absence of time to do so. I will surely get to it once I advise Traders using my services and finishing my free Daily commentary here. Really glad that my analysis made Profits for many Traders out there!
Gold's general commentary: Gold capitalized on #2-session Selling sentiment as Hourly 4 chart is seemingly entered Bearish Pennant, as the Price-action was vigorously rejected on the strong Support and instantly Spiked back on #1,860.80 (and above) and stayed there (I was treating mentioned rise as an normal Daily chart consolidation). Yesterday’s Bottom was just under the #1,854.80 - #1,858.80 Support zone from the current Low and the fact that it was immediately Bought back and stayed High was an Bearish Short and Medium-term variance on Gold and sign that I did’t need to revise my strategy so far as Gold had all necessary points to continue the downtrend which was going in Sellers favor. As DX was Selling again (before FOMC minutes) it’s own green Daily candle, losing it’s already made gains, Gold welcomed Hourly 1 chart re-Buy bias over the Asian session as the market awaited yesterday's Fundamentals to be catalyst for new Bearish movement.
Technical analysis: Gold is Trading within my predicted values. See though on the Hourly 4 chart, all indicators showing different values, but can spot that Gold is on a Channel Down with Higher Low’s and Lower Low’s. This is what I described on my commentary as an Bearish Divergence (BD) and is usually a first alert that the trend might be changing (from Bullish to Bearish). See how the very same divergence has Traded since November - April. On the November #12 Low, the Price-action started rising on an Channel Up but only once the structure formed a new Low. But since Support is broken on multiple occasions, Gold should test #1,767.80 within #1 session if #1,800.80 psychological barrier breaks. Then again after mentioned Low, Gold started rising until the next Bullish Divergence (which means, after #1,610.70 and #1,605.70 in continuation, Gold engaged parabolic rise and tested #1,670.80 Long-term) - means that Gold already tested Higher High’s on pure Fundamental gradient, and everything is set for new Bearish Long-term cycle. If I had to take a Short-term guess regarding what is going to happen throughout today’s U.S. session, I would note an idle #1,800’s belt Trading and Natural consolidation and another aggressive takedown below #1800.80 psychological barrier.
Fundamental analysis: Price-action pulled back to the Daily chart Support of #1,840.80 and even broke it, but taken a pause near #1,810.80. That is of course Fundamentally attributed to Fed expectations and Yields way above the Resistance zone, but Technically as discussed, it is a direct consequence of the inability of Gold to break the Hourly 4 chart’s broken Channel Up’s #1,871.80 barrier extension, and the rejection on the Lower High trendline of the Hourly 4 chart (which marginally turned Bearish again) for the first time since April #8. I have been pointing out a lot the importance of keeping an eye on the Bond Yields (especially throughout yesterday’s session with the Fed Minutes) which was clearly on the Top of it’s Daily chart’s Channel Down, so again no surprises for the current aggressive drop on Gold (diagonal correlation between the two). As long as Yields are on Lower High extension, I will keep operating with Selling orders. According to my estimations, Gold should be below #1,800.80 already, but market speculators are stalling Gold’s decline (what I have been expecting for at least #10 sessions). I am expecting #1,800's stabilization, followed by aggressive takedown towards #1,767.90. on the aftermath.
My position: It is Highly dangerous to Buy Gold on such Bearish bias, therefore I don't expect stronger Volumed recovery as I engaged my new Selling order on #1,810.80 configuration, pursuing #1,767.80 Selling extension with my order. If #1,803.80 - #1,800.80 breaks, expect #40 point decline Intra-day. I am on #12 Profits row and #2 Stop-loss hits throughout May - June cycle.
Gold's general commentary: Gold capitalized on #2-session Selling sentiment as Hourly 4 chart is seemingly entered Bearish Pennant, as the Price-action was vigorously rejected on the strong Support and instantly Spiked back on #1,860.80 (and above) and stayed there (I was treating mentioned rise as an normal Daily chart consolidation). Yesterday’s Bottom was just under the #1,854.80 - #1,858.80 Support zone from the current Low and the fact that it was immediately Bought back and stayed High was an Bearish Short and Medium-term variance on Gold and sign that I did’t need to revise my strategy so far as Gold had all necessary points to continue the downtrend which was going in Sellers favor. As DX was Selling again (before FOMC minutes) it’s own green Daily candle, losing it’s already made gains, Gold welcomed Hourly 1 chart re-Buy bias over the Asian session as the market awaited yesterday's Fundamentals to be catalyst for new Bearish movement.
Technical analysis: Gold is Trading within my predicted values. See though on the Hourly 4 chart, all indicators showing different values, but can spot that Gold is on a Channel Down with Higher Low’s and Lower Low’s. This is what I described on my commentary as an Bearish Divergence (BD) and is usually a first alert that the trend might be changing (from Bullish to Bearish). See how the very same divergence has Traded since November - April. On the November #12 Low, the Price-action started rising on an Channel Up but only once the structure formed a new Low. But since Support is broken on multiple occasions, Gold should test #1,767.80 within #1 session if #1,800.80 psychological barrier breaks. Then again after mentioned Low, Gold started rising until the next Bullish Divergence (which means, after #1,610.70 and #1,605.70 in continuation, Gold engaged parabolic rise and tested #1,670.80 Long-term) - means that Gold already tested Higher High’s on pure Fundamental gradient, and everything is set for new Bearish Long-term cycle. If I had to take a Short-term guess regarding what is going to happen throughout today’s U.S. session, I would note an idle #1,800’s belt Trading and Natural consolidation and another aggressive takedown below #1800.80 psychological barrier.
Fundamental analysis: Price-action pulled back to the Daily chart Support of #1,840.80 and even broke it, but taken a pause near #1,810.80. That is of course Fundamentally attributed to Fed expectations and Yields way above the Resistance zone, but Technically as discussed, it is a direct consequence of the inability of Gold to break the Hourly 4 chart’s broken Channel Up’s #1,871.80 barrier extension, and the rejection on the Lower High trendline of the Hourly 4 chart (which marginally turned Bearish again) for the first time since April #8. I have been pointing out a lot the importance of keeping an eye on the Bond Yields (especially throughout yesterday’s session with the Fed Minutes) which was clearly on the Top of it’s Daily chart’s Channel Down, so again no surprises for the current aggressive drop on Gold (diagonal correlation between the two). As long as Yields are on Lower High extension, I will keep operating with Selling orders. According to my estimations, Gold should be below #1,800.80 already, but market speculators are stalling Gold’s decline (what I have been expecting for at least #10 sessions). I am expecting #1,800's stabilization, followed by aggressive takedown towards #1,767.90. on the aftermath.
My position: It is Highly dangerous to Buy Gold on such Bearish bias, therefore I don't expect stronger Volumed recovery as I engaged my new Selling order on #1,810.80 configuration, pursuing #1,767.80 Selling extension with my order. If #1,803.80 - #1,800.80 breaks, expect #40 point decline Intra-day. I am on #12 Profits row and #2 Stop-loss hits throughout May - June cycle.
- 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.
