Sell order active / #1,972.80 entry point

Technical analysis: Productive session for both Buyers and Sellers as Gold remains moderately Bullish on Intra-day level and the Hourly 4 chart is still respecting my #1,982.80 - #1,962.80 estimated isolation range. DX was on slight rise which was instantly Sold back (keeping Gold both Bullish and Bearish but on High levels in comparison with start of the Trading week), DX is somewhat losing and U.S. futures are ranging and this is the mix that is keeping Gold Bullish and within + - #20 point belt. I really don’t mind as Gold was gradually melting towards my Targets and I utilized current Selling sequence to it’s maximum. The Hourly 4 chart’s Resistance zone is near so watch out for an Intra-day rebound there (Trading at #1,975.80). Gold is on a tight spot around the current mark (Spot price) and is consolidating on Hourly 1 chart (Micro level) since today’s E.U. session. DX was taking strong hits throughout yesterday’s session and still didn't recovered (and found the Support) as that configuration should again bring consolidation candles as I believe that since Gold was approaching the Double Bottom zone on Daily chart’s Descending Channel started few sessions ago, Gold could dip towards #1,942.80 Support or below, and is only matter of time (where the Daily chart’s Higher Low's extension currently is) when Gold will continue fair Selling sequence. One of the dangers which could invalidate my model, is apparent #1,985.80 Resistance break which is far away from current configuration. With the catalysts of the session reporting later on, I can see consolidation within #1,962.80 - #1,875.80 before a bigger proportion move later into the session.


My position: As discussed above, I have engaged Selling order with #1,972.80 as my entry point few moments ago. Regardless of the Fed aftermath (I expect hawkish stance from Fed chair), Fed or not #1,952.80 and #1,942.80 representing my Short-term Targets for the fractal.