Sell order engaged / #1,900.80 remains in sight

Technical analysis: DX extends recent losses with non-stop decline since July #6 in form of series containing Engulfing Bearish Deliberation candlesticks. The Bull Flag on Hourly 4 chart was invalidated to the upside as the Hourly 4 chart's healthy Ascending Channel Lower High's Lower zone is pushing towards #1,962.80 - #1,966.80 pressure points. Keep in mind however that there are multiple Bearish developments on almost all charts, especially Hourly 4 chart's RSI which is critically Overbought. Last #3 times RSI was this High, Gold delivered minimum of #60 - #80 point takedown on the aftermath. Crossing of the #1,952.80 benchmark then #1,942.90 Support in extension (was posing as an strong Resistance lately) restores the Selling majority and will make the Price-action look for a Gap Fill at #1,927.80 contact point. For more serious correction on Gold which won't be stalled, DX on positive numbers (at least above Weekly chart's (#1W) Medium-term Support zone now turned to Resistance zone) is essential and imperative. Price-action has achieved a temporary equilibrium on Hourly 4 chart, between #1,952.80 and #1,962.80 (roughly Gold is in critically Overbought waters) as it still de-balances the Technically Bearish dynamics of Short-term and the Bullish (at least for Gold but certainly not DX) Fundamental "fear factor" and Inflation numbers declining.


My position: According to my estimations, DX - sole Fundamental driver behind Gold's uptrend in continuation is far away from gaining it's strength (directly affecting Gold market), and if Gold closes the session below #1,957.80 configuration and does not open with a Bullish Gap fill throughout tomorrow's session, market will turn to Selling then if #1,952.80 gets invalidated pursue the #1,942.80 projection. Gold continues to represent the product in High speculation mode and as well Selling spree on DX isn't going in my favor (to my Selling model). It is also unknown whether a potential signing of the Tariff bill is already priced in or not, aswell Fed's aggressive stance and how it will be digested by markets. It is important to note that Gold isn't soaring as much as it should, taking DX numbers into consideration. I have engaged Selling order with #1,958.80 as my entry point. Optimal Target is #1,927.80 sequence with possibility to close the order even Higher if Profit range becomes satisfactory.