As discussed throughout my yesterday's session commentary: "My position: The current Weekly candle is at (# +3.96%), indicating strong Bullish continuation bias, extending the green Daily candle streak to #5. Symmetrical candle patterns is the sum of an otherwise pale session with the Price-action pivoting around #3,020’s on High Volatility scenario. My formula points that Investors are waiting today's U.S. session to set the (probable Bullish continuation) pace on Gold. Gold might stay consolidating until Fed Rate announcement later on throughout the session as I keep Buying every Low's on Gold. #3,022.80 is my Support for the fractal. Since my Profit is excellent, I will not Trade Fed announcement and will monitor from sidelines. For those who will, I do expect Rate to remain unchanged."
Technical analysis: Hourly 4 chart has turned semi-Neutral as Gold has completed #4 straight sideways Hourly 1 chart’s candles that may be supported above the #3,022.80 Support configuration however at the same time failing to close above the Daily chart’s #3,052.80 benchmark on multiple occasions which is the deciding factor between a Bull and Bear breakout. The Rate announcement was this week’s catalyst and even though it's the DX that's mostly correlated with Gold at the moment (lately), I continue to monitor closely aswell the Bond Yield Trading near (#1W) Weekly chart’s local High’s. All this above displays very mixed Intra-day picture on Gold regarding both Short-term which I am so far utilizing to it's maximum. Gold is Trading comfortably above the Support fractal formation on Daily chart as I see no firm reasons why Buying trend may be altered however.
My position: I have Bought Gold throughout yesterday's session on #3,029.80 and closed on #3,040.80 and re-Sold many Top's. I am waiting currently for area to be engulfed as I will re-Buy Gold as near as #3,022.80 towards #3,037.80 Resistance in extension. Gold is delivering excellent Intra-day #8 - #10-point Profit opportunities which I am utilizing to it's maximum.
Technical analysis: Hourly 4 chart has turned semi-Neutral as Gold has completed #4 straight sideways Hourly 1 chart’s candles that may be supported above the #3,022.80 Support configuration however at the same time failing to close above the Daily chart’s #3,052.80 benchmark on multiple occasions which is the deciding factor between a Bull and Bear breakout. The Rate announcement was this week’s catalyst and even though it's the DX that's mostly correlated with Gold at the moment (lately), I continue to monitor closely aswell the Bond Yield Trading near (#1W) Weekly chart’s local High’s. All this above displays very mixed Intra-day picture on Gold regarding both Short-term which I am so far utilizing to it's maximum. Gold is Trading comfortably above the Support fractal formation on Daily chart as I see no firm reasons why Buying trend may be altered however.
My position: I have Bought Gold throughout yesterday's session on #3,029.80 and closed on #3,040.80 and re-Sold many Top's. I am waiting currently for area to be engulfed as I will re-Buy Gold as near as #3,022.80 towards #3,037.80 Resistance in extension. Gold is delivering excellent Intra-day #8 - #10-point Profit opportunities which I am utilizing to it's maximum.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.