My position: This morning I engaged #2,900.80 entry point Buying order with wide Stop and re-Bought Gold once again with #2,892.80 entry point. I have closed second Buying order on #2,900.80 delivering #8-point Profit and kept second Buying order. I will keep Buying every dip on Gold and as many Sellers contacted me recently I repeat / do not expect more serious decline on Gold as long as DX is Trading on such disappointing numbers. I will keep Buying Gold on every dip expecting excellent returns / Profits to continue.
Technical analysis: So far so good as all of my Bullish Targets are concluded near #2,922.80 Weekly High's as expected. Oversold DX prevailed throughout all Trading Week followed by a strong Bullish reversal in form of Buying candlestick formation that Priced in a Bottom with #2,890.80 - #2,892.80 as new-old Support zone, on a Hourly 4 chart’s Three White Soldiers candle extension. Despite this, both Hourly 1 and Hourly 4 chart on DX were completely Oversold, and current sequence on Gold was Natural response to such Technical development. No Moving Average still supports Selling bias on any chart, however this is typical Price-action behavior near Daily chart’s local Bottoms or Top’s. Reversals are not evident and remember that the #2,888.80 - #2,892.80 is a heavy downside Support zone. For now, expected, no signs of Bearish reversal as I highlighted many times on my previous analysis that as long as DX is Trading on such disappointing numbers, there will be no serious reversal to the downside on Gold.
My position: Sole factor which can reverse Intra-day trend to Bearish is NFP announced later on throughout the session. I do however expect upside surprise on NFP where I might re-Sell Gold as Higher as I can ahead of the announcement testing #2,900.80 benchmark or Support zone below, however regardless NFP or not I do expect to continue Medium-term Bullish trend on the aftermath of the event (early next week). Trade accordingly.
Technical analysis: So far so good as all of my Bullish Targets are concluded near #2,922.80 Weekly High's as expected. Oversold DX prevailed throughout all Trading Week followed by a strong Bullish reversal in form of Buying candlestick formation that Priced in a Bottom with #2,890.80 - #2,892.80 as new-old Support zone, on a Hourly 4 chart’s Three White Soldiers candle extension. Despite this, both Hourly 1 and Hourly 4 chart on DX were completely Oversold, and current sequence on Gold was Natural response to such Technical development. No Moving Average still supports Selling bias on any chart, however this is typical Price-action behavior near Daily chart’s local Bottoms or Top’s. Reversals are not evident and remember that the #2,888.80 - #2,892.80 is a heavy downside Support zone. For now, expected, no signs of Bearish reversal as I highlighted many times on my previous analysis that as long as DX is Trading on such disappointing numbers, there will be no serious reversal to the downside on Gold.
My position: Sole factor which can reverse Intra-day trend to Bearish is NFP announced later on throughout the session. I do however expect upside surprise on NFP where I might re-Sell Gold as Higher as I can ahead of the announcement testing #2,900.80 benchmark or Support zone below, however regardless NFP or not I do expect to continue Medium-term Bullish trend on the aftermath of the event (early next week). Trade accordingly.
- 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.