Closing my Selling order / #51 ProfitsAs discussed throughout my yesterday's session commentary: "My position: As movement is within my Selling model, I will constantly re-Sell every High's which Gold delivers which is my proved Long-Year strategy. I have engaged new Selling order with #2,322.80 entry point, optimal Target remains #2,300.80 benchmark as my position is running in decent Profit currently. I do expect #2,252.80 benchmark test throughout this week so Trade accordingly."
I have closed my Selling order (#2,322.80 - #2,309.80) on a fine #12-point run extending my results range to #51 Profits row and #11 Stop-loss hits regarding December - June cycle.
Fundamental analysis: According to my preliminary expectations, Price-action was not able to close back above the #2,342.80 Resistance for the fractal and it was Natural to expect prolonged weakness on Gold. DX on the other hand reacted very negatively to Retail Sales numbers which limited Gold from further decline (as well as keeping Neutral Rectangle intact on Hourly 4 chart) and almost Bought back all previous losses. However, the underlying trend (Bearish) can be confirmed in the visible fact that Gold did not react as proportionally as it should to the fall of the DX (sequence last seen on June #15). DX may find Support within #104.700 - #104.800 creating a potential Double Bottom on Higher Low's. If this fractal develops, my Short-term Target of #2,252.80 benchmark can be reached within #1 - #3 sessions. Gold's Short-term gains are hindered by the MA on Hourly 4 chart successfully filled throughout yesterday's session and despite the formation of a Hammer candle on the Daily chart.
My position: I am certainly enjoying the Price-action where my strategy (as well known Gold Seller) is continuously delivering excellent returns. I re-Sold Gold minutes ago on #2,335.80 session High's with #2,300.80 as my optimal Target.