As discussed throughout my recent analysis: "My position: Even though Technicals are switched to Bull side due recent Fundamental rise, Buyers have to be extra cautious as DX delivered #52-Week High's test few sessions ago which is a messenger that Gold may be ready for Medium-term Bearish reversal. I will look to re-Buy Gold as long as #2,652.80 holds. I am back after my vacations break and expect usual Daily analysis here as normal."
Technical analysis: Gold gave away the early session Profit and reversed inside the newly formed Hourly 1 chart’s Rectangle for a new Support zone test. You may take some time on the side to continue Trading this range, but the overall critically Bearish larger charts will eventually prevail. I am fully Bearish and my model is pointing to prolonged weakness on Gold as I took my first Selling order on #2,652.80 break-out (#2,647.80 entry point) and closed on #2,635.80 with decent Profit. Remember as long as Gold is Trading below #2,652.80 benchmark, Price-action within is Bearish and keep Selling every High's on Gold.
My position: I have engaged another re-Sell order with #2,636.80 entry point (optimal Target remains #2,622.80 Support in extension. If #2,627.80 gets invalidated Gold will extend the Selling sequence, if however #2,627.80 rejects the Price-action, I will close my order there and remain on sidelines.
Technical analysis: Gold gave away the early session Profit and reversed inside the newly formed Hourly 1 chart’s Rectangle for a new Support zone test. You may take some time on the side to continue Trading this range, but the overall critically Bearish larger charts will eventually prevail. I am fully Bearish and my model is pointing to prolonged weakness on Gold as I took my first Selling order on #2,652.80 break-out (#2,647.80 entry point) and closed on #2,635.80 with decent Profit. Remember as long as Gold is Trading below #2,652.80 benchmark, Price-action within is Bearish and keep Selling every High's on Gold.
My position: I have engaged another re-Sell order with #2,636.80 entry point (optimal Target remains #2,622.80 Support in extension. If #2,627.80 gets invalidated Gold will extend the Selling sequence, if however #2,627.80 rejects the Price-action, I will close my order there and remain on sidelines.
- 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.