Closed portion of my Buy orders on Friday / Waiting for new one

OANDA:XAUUSD   Gold Spot / U.S. Dollar
I have carefully used #14$ Bull spike throughout Friday's U.S. session and closed portion of my Buy orders with decent Profits, now I am waiting for additional opportunity to add more Buy orders. Excellent Bullish developments on Hourly 1 basis as I am expecting stronger Bullish sequence with #1,910.80 extension. U.S. chair repeated their monetary action plan that the market already digested (low rates until more Currency is printed) and that kept DX High but the Stock markets rose some more and that in turn gave a little boost on Gold ( Xau-Usd as always on my commentary), but still didn’t had Buying confirmation - and as an result, Short-term correction is visible. This doesn't alter the Hourly 4 trend though which is Bullish since the November #10 decline and appears to be Trading within the Rectangle again. Based on that I may see #1,892.80 within #2 sessions and then pullback to the Hourly 4 #1,860.80 Support again if #1,900.80 psychological barrier rejects the Price-action (in case that #1,900.80 is broken, #1,917.80 should be next extension). Keep in mind the many data that are reported throughout this week, so expect strong Volatility . Correlation configuration is close to offer me new Buying opportunity (around #1,860.80 pressure point towards #1,892.80) and DX taking strong hits on early E.U. session is adding more confidence to whole outlook. Gold is Bullish on Short-term as I will continue Buying the market.
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Professional market analyst and Financial consultant with over #8 Years experience. I specialize Gold market using specific proven mathematical models. I provide market insights and Professional guidance.


Does this drop change your outlook for gold?
+1 Reply
@mitjax, I wouldn't say so. I booked all my Profits on Friday (Bull spike on U.S. opening) and today I closed on breakeven all my Buy orders (few of them left since most were closed on Friday) when DX started Buying back the dip. I am without a position at the moment.
i like your thought keep it up brother.
+1 Reply
goldenBear88 sudeepghimire77
@sudeepghimire77, Well noted!
this is good
Decent lose
no decent profit for this one
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