Closing my Selling order / #42 Profits row
As discussed throughout my yesterday's session commentary: "My position: I have engaged Selling order with #2,436.80 entry point (optimal Target remains #2,400.80 psychological benchmark). My Selling order is running in decent Profit and will re-Sell Gold when / if #2,400.80 benchmark fails to hold."
I have closed all my Selling orders (#2,436.80 - #2,412.80) on an fine #24-point Profit, extending my results range to #42 Profits and #9 Stop-loss hits regarding October - May cycle. I will use this chance to congratulate Traders which are Selling every High's that Gold delivers, well done!
Technical analysis: Gold has made a temporary Low’s and temporary High’s near psychological levels of #2,400.80 and #2,452.80 with third straight Daily chart’s green candle (followed with bigger than usual Selling Volume delivering series of Bearish candles). Both Hourly 4 chart’s breakout points are intact however all MA periods are pointing to aggressive takedown as #H4 and #D1 are in perfect alignment with the respective Selling sequence where the movement neckline is dictating healthy Descending Channel on Hourly 1 chart which restricts the Price-action back above #2,400.80 - #2,412.80 Support zone (Technical maximum at this point). My strategy remains to Sell every local High’s which Gold delivers, proven to be very safe and is delivering optimal framework pointing to prolonged weakness ahead on Gold on Medium to Long-term. As mega Bullish rally is showing signs of exhaustion, Resistance zone attempt failed and Gold is delivering more and more sustainable Selling reversals and since the Volume is Low and Investors are less interested in Buying, I do believe if #2,400.80 benchmark gets invalidated, Selling sequence will extend towards #2,352.80 benchmark (as shown historically within current Selling sequence). The #2,400.80 - #2,412.80 local Low's was achieved on sequence of #3 Hourly 4 chart’s Bearish candles and this is typically a Selling continuation signal since Price-action is isolated within Descending Channel.
My position: Currently I am without the order, waiting for #2,400.80 initial break to pursue / re-Sell Gold towards #2,352.80 benchmark.
I have closed all my Selling orders (#2,436.80 - #2,412.80) on an fine #24-point Profit, extending my results range to #42 Profits and #9 Stop-loss hits regarding October - May cycle. I will use this chance to congratulate Traders which are Selling every High's that Gold delivers, well done!
Technical analysis: Gold has made a temporary Low’s and temporary High’s near psychological levels of #2,400.80 and #2,452.80 with third straight Daily chart’s green candle (followed with bigger than usual Selling Volume delivering series of Bearish candles). Both Hourly 4 chart’s breakout points are intact however all MA periods are pointing to aggressive takedown as #H4 and #D1 are in perfect alignment with the respective Selling sequence where the movement neckline is dictating healthy Descending Channel on Hourly 1 chart which restricts the Price-action back above #2,400.80 - #2,412.80 Support zone (Technical maximum at this point). My strategy remains to Sell every local High’s which Gold delivers, proven to be very safe and is delivering optimal framework pointing to prolonged weakness ahead on Gold on Medium to Long-term. As mega Bullish rally is showing signs of exhaustion, Resistance zone attempt failed and Gold is delivering more and more sustainable Selling reversals and since the Volume is Low and Investors are less interested in Buying, I do believe if #2,400.80 benchmark gets invalidated, Selling sequence will extend towards #2,352.80 benchmark (as shown historically within current Selling sequence). The #2,400.80 - #2,412.80 local Low's was achieved on sequence of #3 Hourly 4 chart’s Bearish candles and this is typically a Selling continuation signal since Price-action is isolated within Descending Channel.
My position: Currently I am without the order, waiting for #2,400.80 initial break to pursue / re-Sell Gold towards #2,352.80 benchmark.
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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.
- 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.