goldenBear88
Long

Engaging set of Buys / Bullish Gold

OANDA:XAUUSD   Gold Spot / U.S. Dollar
With DX testing Monthly Support again (# -0.29% at the moment) and Gold on Channel Up, the only confirmation I needed to completely justify the Bullish continuation on Medium-term on Daily chart was, as I already mentioned - Stock markets breaking above the Higher Low trendline and adding Buying pressure on Gold - it is lagging at the moment but I don't doubt that Buying pressure will shortly be visible (positive correction). Gold is, for now - completely ignoring the DX’s negative Gap fill and confirms my idea of Gold’s correlation with Stock markets on Monthly fractal . Now I have a sustainable Bullish trend on Gold as mentioned on May #28. Otherwise, if that didn't occurred and my Support was broken, currently Neutral Daily chart would simply keep Gold ranged like it happened on Friday with Hourly 4’s strong Support priced at #1,695.80. As I stated before, today’s U.S. session should provide the initial direction, but my expectation is that most Investors wait for Gold to reveal it’s underlying trend and then make their move, which is surely Bullish . If today's U.S. session provides Bullish sentiment, that will provide me with even more comfortable market entry for additional set of Buys as for now it is still early to go "all in". This is all of course very speculative and subject to a high rate of risk so, for now I'll stick to one set of Buys. Gold is close to the important #MA200 spot on Hourly 4 chart (Short-term Support), Xau-Usd on my focus as always - as all correlating instruments show a Bullish sentiment to Gold (even though that Hourly’s changed from Neutral from Bearish ). I spotted yesterday and announced it on my report - space for mini-Bearish leg, and by my calculations, it is near completion. I took the opportunity and added set of Buys calling for #1,740.80 (Target) Resistance, and if broken, #1,754.80 extension. #1,717.80 is Hourly 4 #MA200 and if broken, that is still not a Selling confirmation - that scenario has slim chances to develop. Even if it does, Gold is Bullish on Medium-term and I'll engage Positions accordingly pursuing Higher levels. Based on fractal analysis of candles, volume and RSI with the period May - September #2019, I am expecting a Short-term recovery towards my Target, as the Daily chart setting is strongly on Bullish side approaching the levels of January #3rd. If Gold would spike down or Trade sideways around the local Support for #1-3 sessions, then I may decide to add more Buy orders. Bearish continuation is only possible if #1,695.80 breaks. My Target is unchanged.
My Telegram channel: https://t.me/goldenBear88

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.

Comments

It reached 1703 😯😮😲
+3 Reply
1691 ??
any updates ?
+2 Reply
goldenBear88 aljabri_loay
@aljabri_loay, Many thanks for your input but providing further advice will be unfair to Traders who purchased my service.
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dropped more than $30 after you posted
+1 Reply
ilanjaar north01
@north01, very good. Better price to buy. We will gain better profits. Oh yeah :)
Reply
1690 USD overbalance and fibo 38.2% is working. I bought another small position on 1690 USD. We will see soon what will happen in next few hours :)
+1 Reply
@ilanjaar, Personally, I'll wait #1 or 2 sessions more and only then make my move.
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ilanjaar goldenBear88
@goldenBear88, of course. I have some small positions. Avarage buy price: 1717 USD :) I was waiting for that 1690 USD from several days :)
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Unbelievable. You are super
+1 Reply
@Nhannha, Many thanks for kind words.
Reply
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