Gold delivering excellent Intra-day opportunities

10月25日

Fundamental analysis: The DX did approach the #104.500 Resistance zone (as I mentioned probability of Medium-term recovery ahead on DX few Months ago) but Gold remained more or less stationary on Hourly 4 chart, highlighting the strong Selling pressure it is under and evident Head and Shoulders pattern in full motion. Besides strong Selling Intra-day impulse, Gold found Buyers within #2,720’s many times which represents Higher High’s Lower zone where Institutional capital flew to Gold and Investors offloaded their Short-term Buying orders (as I announced many times), pushing Price-action once again towards #2,730’s, former multi-Month Resistance level. Constant Hourly 4 chart’s Bullish spikes and Bullish move in general had so far no further room to go, so I don't expect this consolidation to continue for more than #2-session horizon. My focus shifts to the DX numbers and Fed repurchase agreement negotiations which are in final phase, aswell to the ties of Gold with Bond Yields and DX, where Gold is attempting to find a equilibrium between the two. This indeed is not a good sign for those who want to Sell this market (most of Traders will) on the Medium to Long-term as the more prominent area for Sellers to arise is likely below #2,700.80 benchmark which is crucial re-Buy zone to rely on, having seen how well it held Price-action Lower or Higher in the past few weeks (current fractal). This is a cautious market at the moment.


My position: I am utilizing Intra-day Buying and Selling Trading opportunities (Selling from #2,735.80 and Buying from #2,723.80 throughout yesterday's session successfully) and still keeping my both (#2.0 and #3.0 Volume) Medium-term orders with Stop on breakeven (#2,800.80 Target). Buying seems limited in most cases, I am still waiting for Selling confirmation as Gold is Trading under Selling pressure (however if you are not already priced in on your Selling order from #2,732.80 or above, now it is too late to pursue #2,700.80 benchmark as it is possible extension Intra-day. In light of the analysis above, keeping my Stop-loss wide on the next order may be the better path to take at the moment and sustain current Stop-loss hunts by Institutional Traders. If market closes below #2,714.80, Rising Wedge is invalidated to the downside as I can pursue #2,700.80 psychological benchmark and below with my Selling orders then. If case is opposite, then re-Buy zones are on main stage where I will continue operating by with. Keep in mind that current Price-action setting (changing almost on Hourly basis) is disastrous for small margins so those should keep away for now.