As discussed throughout my yesterday's session commentary: "I have engaged at least #4 Buying orders throughout Friday's session (#2,925.80 entry point) and closed on #2,935.80 - #2,942.80 delivering excellent Profits as I kept final one #2,927.80 entry point / optimal Target remains #2,952.80 benchmark. I have stated that Traders should keep Buying the dips on Gold and my #4th order I will look to close as near as #2,952.80 benchmark. It is indeed excellent last week's closing and entering current week in decent Profit. Once I close my order there, I will observe market from sidelines and will Gold defend #2,948.80 - #2,952.80 newly formed Support zone with market closing. If it does, I will Buy Gold on spot towards #2,972.80 Higher High's extension. Indeed I am more than satisfied with my returns."
Technical analysis: The Price-action is basically consolidating again on Hourly 1 chart’s within so far well known Neutral Rectangle only to give Scalpers and Buyers a chance / opportunity for Intra-day returns. Hourly 1 chart’s invalidated Neutral Rectangle and extended former Ascending Channel however soon enough I may be getting a serious break-out (the pattern usually breaks to the upside and favors Buyers if cycle is replicated). I am currently on the sidelines, simply maintaining my Buying model as I will Buy Gold as Lower as I can (as near as local Low’s). I need to state for the record (again) that when I mention pullbacks on my remarks I am not suggesting Traders to Short right away. I am suggesting a more optimal place to re-Buy the market. Gold is now overall Bullish market as I have stated since the start of the Month that my strategy is to be Buying (and accumulating) on pullbacks. Those who've been following me for Years know that I am always accurate on Medium-term declines which I will spot for us once again as many times before however under such Bullish setting on Gold, Selling is not favorable. Despite Price-action Trading within an Hourly 4 chart’s Bullish motion (pattern which is spotted multiple times on Hourly 4 chart lately), Gold is purely responding to the Fundamentals of the DX and world's geo-politics which are on High speculation mode.
My position: Keep Buying every dip with #2,918.80 - #2,922.80 Medium-term Support zone intact. As long as Gold is above mention zone, #3,000.80 benchmark is my Target and Bullish Short-term trend is preserved.
Technical analysis: The Price-action is basically consolidating again on Hourly 1 chart’s within so far well known Neutral Rectangle only to give Scalpers and Buyers a chance / opportunity for Intra-day returns. Hourly 1 chart’s invalidated Neutral Rectangle and extended former Ascending Channel however soon enough I may be getting a serious break-out (the pattern usually breaks to the upside and favors Buyers if cycle is replicated). I am currently on the sidelines, simply maintaining my Buying model as I will Buy Gold as Lower as I can (as near as local Low’s). I need to state for the record (again) that when I mention pullbacks on my remarks I am not suggesting Traders to Short right away. I am suggesting a more optimal place to re-Buy the market. Gold is now overall Bullish market as I have stated since the start of the Month that my strategy is to be Buying (and accumulating) on pullbacks. Those who've been following me for Years know that I am always accurate on Medium-term declines which I will spot for us once again as many times before however under such Bullish setting on Gold, Selling is not favorable. Despite Price-action Trading within an Hourly 4 chart’s Bullish motion (pattern which is spotted multiple times on Hourly 4 chart lately), Gold is purely responding to the Fundamentals of the DX and world's geo-politics which are on High speculation mode.
My position: Keep Buying every dip with #2,918.80 - #2,922.80 Medium-term Support zone intact. As long as Gold is above mention zone, #3,000.80 benchmark is my Target and Bullish Short-term trend is preserved.
- 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.