As discussed throughout my Friday's session commentary: "My position: I am engaging re-Sell orders every session so far (regarding current week) which are delivering excellent returns. On post-Fed spike, I have Sold Gold on #2,325.80, closing my Selling order on #2,310.80. Throughout yesterday's session, I have Sold Gold on #2,307.80 and closed my order on #2,282.80. Since today's session contain NFP announcement, I am in no need to Trade the news (taking unnecessary Risk) since my Profits are already to good to be ignored and on the other hand, I do expect numbers Lower than expected on the announcement so if I will Trade, I will Trade after the news / announcement. Overall I am extremely satisfied with my re-Sell orders, congratulation on Profits!"
Technical and Fundamental analysis: Gold was once again used as a safe-haven amongst geopolitical tensions surrounding Middle East problematic, as the Price-action aggressively soared to a record High's, this was an Fundamental reaction and goes against the Technical correlation with DX, which as expected tested its Daily chart's Resistance zone. Gold's fair value would be below #2,000.80 benchmark according to the correlation and fair Technical Price. Still the #2,342.80 - #2,352.80 Weekly Top represents a Higher High's within Hourly 4 chart's Descending Channel, providing more comfortable Selling position to await and book the Profits on my new Selling order. Always remember to stay on trend by identifying non-Technical fluctuations based on correlating instruments that can provide great Trading opportunities.
My position: I have guessed NFP outcome nicely (downside surprise) however I was on sidelines throughout the session. I am contemplating Selling the market within #2,321.80 - #2,331.80 zone towards #2,300.80 benchmark. I have Sold Gold with #2,322.80 entry point (optimal Target remains #2,300.80 benchmark).
Technical and Fundamental analysis: Gold was once again used as a safe-haven amongst geopolitical tensions surrounding Middle East problematic, as the Price-action aggressively soared to a record High's, this was an Fundamental reaction and goes against the Technical correlation with DX, which as expected tested its Daily chart's Resistance zone. Gold's fair value would be below #2,000.80 benchmark according to the correlation and fair Technical Price. Still the #2,342.80 - #2,352.80 Weekly Top represents a Higher High's within Hourly 4 chart's Descending Channel, providing more comfortable Selling position to await and book the Profits on my new Selling order. Always remember to stay on trend by identifying non-Technical fluctuations based on correlating instruments that can provide great Trading opportunities.
My position: I have guessed NFP outcome nicely (downside surprise) however I was on sidelines throughout the session. I am contemplating Selling the market within #2,321.80 - #2,331.80 zone towards #2,300.80 benchmark. I have Sold Gold with #2,322.80 entry point (optimal Target remains #2,300.80 benchmark).
- My official and only Telegram Channel: t.me/goldenBear88
- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.
- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.