Closing my Selling order / #30 Profits row / Sell order active
As discussed throughout my August #16 commentary: "My position: I have managed to make quick buck out of yesterday's Intra-day Selling sequence (not posted on forum as order was engaged after my commentary), however I have engaged another Selling order with #1,779.80 as an entry point, Targeting #1,755.80 optimal Lower High's Upper zone. Besides the DX , I spotted correlation of Gold with Bond Yields (right now #60% DX and #40% Yields), so Traders should take that into the account. I have announced current Selling sequence ahead throughout last week's ideas."
I have closed my Selling order (#1,779.80 - #1,764.80) on a fine #15 point Profit run, extending my results range to #30 Profits row and #6 Stop-loss hits regarding April - August cycle. I will use this chance to congratulate Traders who followed my call and had patience to hold the order for more than one session, well done!
Gold's general commentary: Gold maintains the Selling sentiment from yesterday’s session Daily chart’s Support zone break, but the pace has slowed down as Gold should be already near #1,752.80 psychological mark (fair estimate). The Hourly 4 chart’s indicators are showing that Gold is Oversold and MACD is about to make a Bullish roll-over and I believe I should start preparing ourselves for a slight pullback (Medium-term trend stays Bearish though especially on the Fed minutes aftermath and with the DX still critically Bullish, Bond Yields rejected on #3-Week Top zone). Next Resistance is priced at #1,782.80 / break of it might extend the uptrend towards #1,800.80 mark, however #1,761.80 break could extend the Selling motion towards #1,745.80 sequence.
Technical analysis: As expected U.S. session Sell-off worked perfectly on the #1,776.80 Support break as Gold almost hit the #1,752.80 psychological mark and in the same configuration my Medium-term Target (remember that I announced #1,752.80 test when Gold was Trading above #1,800.80 mark), and almost triggered throughout today's session Lower Bollinger bands. Much of this move had to do with the RSI near the Resistance and as discussed, much needed Technical correction of Lower High's extension on Bond Yields along with eminent uptrend on DX. Fundamental side was giving boost to DX, but not enough to engage more serious recovery and continue the Buying sequence. As a result Hourly 4 chart turned again marginally Bearish and Highly Volatile, and as long as the Daily chart remains Bearish, I am following the simple plan of only committing Medium-term on breakouts (Buy above #1,744.80 and Sell below #1,722.80). Like I mentioned on the previous post, the Bollinger Bands in between is my Short-term instrument to monitor along with the Bond notes. It is important to note that today’s session consolidation was Bought back instantly and Daily chart's Descending Channel got well preserved, and provided me with additional Selling order.
My position: I have engaged additional Selling order with #1,763.80 as an entry point, optimal Target is #1,745.80 extension.
I have closed my Selling order (#1,779.80 - #1,764.80) on a fine #15 point Profit run, extending my results range to #30 Profits row and #6 Stop-loss hits regarding April - August cycle. I will use this chance to congratulate Traders who followed my call and had patience to hold the order for more than one session, well done!
Gold's general commentary: Gold maintains the Selling sentiment from yesterday’s session Daily chart’s Support zone break, but the pace has slowed down as Gold should be already near #1,752.80 psychological mark (fair estimate). The Hourly 4 chart’s indicators are showing that Gold is Oversold and MACD is about to make a Bullish roll-over and I believe I should start preparing ourselves for a slight pullback (Medium-term trend stays Bearish though especially on the Fed minutes aftermath and with the DX still critically Bullish, Bond Yields rejected on #3-Week Top zone). Next Resistance is priced at #1,782.80 / break of it might extend the uptrend towards #1,800.80 mark, however #1,761.80 break could extend the Selling motion towards #1,745.80 sequence.
Technical analysis: As expected U.S. session Sell-off worked perfectly on the #1,776.80 Support break as Gold almost hit the #1,752.80 psychological mark and in the same configuration my Medium-term Target (remember that I announced #1,752.80 test when Gold was Trading above #1,800.80 mark), and almost triggered throughout today's session Lower Bollinger bands. Much of this move had to do with the RSI near the Resistance and as discussed, much needed Technical correction of Lower High's extension on Bond Yields along with eminent uptrend on DX. Fundamental side was giving boost to DX, but not enough to engage more serious recovery and continue the Buying sequence. As a result Hourly 4 chart turned again marginally Bearish and Highly Volatile, and as long as the Daily chart remains Bearish, I am following the simple plan of only committing Medium-term on breakouts (Buy above #1,744.80 and Sell below #1,722.80). Like I mentioned on the previous post, the Bollinger Bands in between is my Short-term instrument to monitor along with the Bond notes. It is important to note that today’s session consolidation was Bought back instantly and Daily chart's Descending Channel got well preserved, and provided me with additional Selling order.
My position: I have engaged additional Selling order with #1,763.80 as an entry point, optimal Target is #1,745.80 extension.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
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