Multi-Month Bearish cycle ahead / Holding my Selling order
Gold's general commentary: As discussed, these are Fundamentally driven sessions and unusual spikes are part of it. The Price-action is under extreme Hourly 4 chart Volatility fractal and on very important crossroads. The Hourly 4 should break to the downside and at the same time DX is Bullish along with the Bond Yields soaring on Fed's Repurchase agreements (as Bonds are one of few remaining low risk assets) which is both Technically and Fundamentally Bearish for Gold. DX however (which has been the benchmark for Gold lately along with the Bond Yields), keeps their solid Channel Up intact. This displays a very Bearish picture for Gold and I can only approach it with Selling points, as Gold is ignoring fair Technical trend for more than #5 sessions currently. This is translated into temporary minor movements, which will be overshadowed when the Trend appears and allows the fair Technical Trading. As I am no longer interested in Buying (unless #1,778.80 breaks), #1,760.80 - #1,765.80 is my re-Sell area, calling for #1,738.80 Support and below where I will be contemplating Selling the market (Medium-term) towards #1,678.80. If #1,778.80 breaks to the upside once again, I have a sustainable Bullish reversal on the cards confirmed (really slim chances). Otherwise, the trend remains Bearish with strong Selling note.
Fed's Repurchase agreements commentary (Important): Another Higher Low test throughout yesterday's session on the Hourly 4 chart as Price-action is showing High durability near #1,740’s belt. Lower Low Upper extension is expected next at #1,727.80. I am Trading currently on pure Bearish gradient as Price-action is Trading on the Hourly 4 chart where all indicates on a Medium-term Selling opportunity, with hawkish Fed aftermath adding decent boost on DX and keeping Bond Yields near #3-Week Resistance zone. My model require to close one Daily candle below the upper Support though which is now priced at #1,740.80. Strong rejection followed the Bearish U.S. opening Bell since DX (my main marker at the moment regarding correlations) is in uptrend continuation, breaking all Resistances as I don’t think that other correlating assets will have any strong impact since strong Selling pressure from DX will remain (minimum for #4 more sessions), which could alter the general uptrend potential on Gold. My estimations shows even #1,700.80 psychological barrier and below (representing Weekly chart Channel Down variance), and with current Selling configuration, I should be expecting #1,678.80 Lower Low extension within October’s fractal. What is important to note is that following every multi-Month Bearish cycle on Gold, Bullish rally on DX was taking place subsequently. One chart is of High importance to my outlook and caught my attention. Title is: Fed’s Repurchase Agreements (units: Millions of U.S. Dollars). If one consults the chart, it resembles that every repurchase agreements number is increasing greatly ahead of every (is messenger of) financial crisis, means that Fed already understand that something big is coming and they may not prevent the huge disaster by printing currency out of thin air. What is evident on the chart, is that from #2005 - #2007 Year, repurchases number is strongly increasing (ahead of #2.008 U.S. Housing market crash / crisis) and as #Q1 - #Q4 passed by, number was decreasing. Lately, since Year of #2019 (virus outbreak), repurchases number is strongly increasing (strong ATH), and is currently still rising, means that crisis world is entering will be worse than those in the past #100 Years. Regardless, I am confident that Gold won’t “shine” as traditional safe haven, and isn’t representing sole hedge asset against the Inflation (aswell on ATH). Government understands that they will need bigger and bigger Stimulus injection, and sooner or later financial system will collapse once again and create havoc. That’s why, I stick to my Medium and Long-term projection that Gold is timed for aggressive takedown and multi-Month Bearish cycle.
My position: I have engaged Selling order throughout yesterday's session, with #1,752.80 as an entry point, which is in decent Profits currently. I haven't got a reason to close my order, as I will add more Selling orders if #1,738.80 breaks once again, and pursue #1,727.80 and #1,700.80 barrier with both orders. #1,678.80 extension is my next point of interests.
Fed's Repurchase agreements commentary (Important): Another Higher Low test throughout yesterday's session on the Hourly 4 chart as Price-action is showing High durability near #1,740’s belt. Lower Low Upper extension is expected next at #1,727.80. I am Trading currently on pure Bearish gradient as Price-action is Trading on the Hourly 4 chart where all indicates on a Medium-term Selling opportunity, with hawkish Fed aftermath adding decent boost on DX and keeping Bond Yields near #3-Week Resistance zone. My model require to close one Daily candle below the upper Support though which is now priced at #1,740.80. Strong rejection followed the Bearish U.S. opening Bell since DX (my main marker at the moment regarding correlations) is in uptrend continuation, breaking all Resistances as I don’t think that other correlating assets will have any strong impact since strong Selling pressure from DX will remain (minimum for #4 more sessions), which could alter the general uptrend potential on Gold. My estimations shows even #1,700.80 psychological barrier and below (representing Weekly chart Channel Down variance), and with current Selling configuration, I should be expecting #1,678.80 Lower Low extension within October’s fractal. What is important to note is that following every multi-Month Bearish cycle on Gold, Bullish rally on DX was taking place subsequently. One chart is of High importance to my outlook and caught my attention. Title is: Fed’s Repurchase Agreements (units: Millions of U.S. Dollars). If one consults the chart, it resembles that every repurchase agreements number is increasing greatly ahead of every (is messenger of) financial crisis, means that Fed already understand that something big is coming and they may not prevent the huge disaster by printing currency out of thin air. What is evident on the chart, is that from #2005 - #2007 Year, repurchases number is strongly increasing (ahead of #2.008 U.S. Housing market crash / crisis) and as #Q1 - #Q4 passed by, number was decreasing. Lately, since Year of #2019 (virus outbreak), repurchases number is strongly increasing (strong ATH), and is currently still rising, means that crisis world is entering will be worse than those in the past #100 Years. Regardless, I am confident that Gold won’t “shine” as traditional safe haven, and isn’t representing sole hedge asset against the Inflation (aswell on ATH). Government understands that they will need bigger and bigger Stimulus injection, and sooner or later financial system will collapse once again and create havoc. That’s why, I stick to my Medium and Long-term projection that Gold is timed for aggressive takedown and multi-Month Bearish cycle.
My position: I have engaged Selling order throughout yesterday's session, with #1,752.80 as an entry point, which is in decent Profits currently. I haven't got a reason to close my order, as I will add more Selling orders if #1,738.80 breaks once again, and pursue #1,727.80 and #1,700.80 barrier with both orders. #1,678.80 extension is my next point of interests.
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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.
