Gold's general commentary: As expected, Gold once again honored it’s DX correlation (main one I have at the moment) and has been rebounding strongly since yesterday’s session, replicating the upwsing from #100.200 Bottom sequence. However, as long as Gold's Daily chart remains critically Bearish and Hourly 4 chart even more, there is always a chance (small though) for one local High’s peak around #1,952.80 - #1,962.80 zone, which should form a Triple Top above the Bearish configuration before #1,942.80 test and eventually #1,927.80 Support in extension. As a result, I am less interested to Buy Gold as sessions go by, and will look to re-Sell Gold once again within #1,952.80 - #1,962.80 new / old re-Sell belt (along with the confirmation from DX, currently showcasing strong durability near #100.800 Medium-term Support).
Technical analysis: There is evident decelerating pace on Hourly 4 chart the Price-action approaches the Daily chart's Support cluster (#1,942.80 - #1.945.80) is just another sign of how important / crucial this level is considered to be. Always keep in mind when Trading Gold that its extreme Price-action fluctuation numbers on Intra-day basis are against the Trader on such tight margins, as the Volatility gives a #1 on #1 on Risk / Reward. The competitive edge is very well found within timely pattern recognition (such as the repeated Descending Channels of current Bearish cycle, which allows me to Short every High's). Always consult the larger charts and DX mostly and you'll have Medium-term direction on Gold.
My position: Past #2 sessions were spectacular as DX is Trading in my favor. Firstly I have Sold Gold on Monday from #1,964.80 which almost hit my Stop near #1,975.80 as I have added one more order on #1,972.80 session High's (keeping both orders as I knew that Buying remains very limited) and yesterday's session Low's test on #1,942.80 Support delivered spectacular results on both orders. I am Selling every High's on Gold for #3-Month period now as mentioned strategy is delivering excellent results. I will calculate my next re-Sell point within #1,952.80 - #1,962.80 belt.
Technical analysis: There is evident decelerating pace on Hourly 4 chart the Price-action approaches the Daily chart's Support cluster (#1,942.80 - #1.945.80) is just another sign of how important / crucial this level is considered to be. Always keep in mind when Trading Gold that its extreme Price-action fluctuation numbers on Intra-day basis are against the Trader on such tight margins, as the Volatility gives a #1 on #1 on Risk / Reward. The competitive edge is very well found within timely pattern recognition (such as the repeated Descending Channels of current Bearish cycle, which allows me to Short every High's). Always consult the larger charts and DX mostly and you'll have Medium-term direction on Gold.
My position: Past #2 sessions were spectacular as DX is Trading in my favor. Firstly I have Sold Gold on Monday from #1,964.80 which almost hit my Stop near #1,975.80 as I have added one more order on #1,972.80 session High's (keeping both orders as I knew that Buying remains very limited) and yesterday's session Low's test on #1,942.80 Support delivered spectacular results on both orders. I am Selling every High's on Gold for #3-Month period now as mentioned strategy is delivering excellent results. I will calculate my next re-Sell point within #1,952.80 - #1,962.80 belt.
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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.