As discussed throughout my Friday's session commentary: "My position: As my Long-term Selling outlook should be in continuation, Gold made a strong Bullish comeback on the foundation of aggressive takedown on DX as Gold's Buyers are once again rescued by Fundamental announcements as Gold was losing value with every Hourly 4 chart’s candle. Price-action was close to reaching the Short-term Resistance of the Higher Low’s (mentioned in my latest comments as #1,966.80 - #1,973.80 on Hourly 4 chart) much sooner than I expected, and got rejected twice as the market should turn this fear into a parabolic decline similar to the virus parabola early in February - March #2019, which could be the reason of subsequent Gold’s slide which should be in continuation. As it happened then, the market psychology was similar, and as soon as the DX recovered, Gold's Inflated prices deflated and that is around Daily chart’s #1,852.80, so Medium and Long-term Traders have their Target. In meantime, I engaged my Short-term Selling order with #1,967.80 as my entry point, and optimal Target for the fractal remains #1,940.80 Support in extension. I will Sell Gold on Medium-term once #1,927.80 - #1,932.80 Support zone breaks."
I have closed my Selling order (#1,967.80 - #1,956.80) on a fine #11-point Profit, extending my results range to #74 Profits and #17 Stop-loss hits regarding April #2022 - June #2023.
Technical analysis: The Price-action is currently stalled near my estimated #1,966.80 - #1,973.80 Higher Low’s Upper zone of the former Ascending Channel on Hourly 4 chart which is about to be invalidated to the downside (under series of Selling Intra-day candles, previously rejected on the trendline twice). DX (# +0.27%) has finally found the Support and formed the Bottom and if the Fundamental phenomenon (which is only chance for Gold Buyers) doesn't take place, then this is a favorable place to Short which I will utilize to pursuit Lower Targets. The first obvious stop is #1,952.80 (become the new norm lately and important benchmark for both Short-term Buyers and Sellers equally) however #1,932.80 (tested and rejected the Selling motion on May #30) is now furthest Support for the fractal (#1,927.80 - #1,932.80 Support cluster more precisely). Regardless, end-Target is of course the #1,900.80 benchmark and Medium-term period (possible break is representing Medium-term confirmation on Daily chart). Throughout Friday’s session, Gold was on its #5th straight Bearish candle, and Traders haven't had more than #5 successive Bearish candles since May #16, confirming that underlying trend remains Bearish and is messenger that Gold will remain heavily pressured. Overall, I am satisfied with what’s done within current weekly borders and since DX suffered a Bearish Gap, I will await new chance to re-Sell Gold.
Everything is simple: Enter price: 1.967.80 Take profit: 1.956.80 I do technical trading only as well , on kinda 15m charts Entered: 1.961.87 TP1 (take profit) price: 1.952.13 done ✅
TP 2(take profit) : 1.941.227 possible ,in progress & depends from market. Sometimes to maximise profit you do take TP1 profit & wait for right time to enter trade for TP2. Minimise risk for loss.
SL (Stop Loss): resistance zone
TP1 is done, profit ✅ TP2 ??? We will see
PS: no point to get angry or start bullying. My Spanish is “mierda “ so what ? 🤷♂️
Everything is simple:
Enter price: 1.967.80
Take profit: 1.956.80
I do technical trading only as well , on kinda 15m charts
Entered: 1.961.87
TP1 (take profit) price: 1.952.13 done ✅
TP 2(take profit) : 1.941.227 possible ,in progress & depends from market. Sometimes to maximise profit you do take TP1 profit & wait for right time to enter trade for TP2. Minimise risk for loss.
SL (Stop Loss): resistance zone
TP1 is done, profit ✅
TP2 ??? We will see
PS: no point to get angry or start bullying. My Spanish is “mierda “ so what ? 🤷♂️