Closing both orders with Profit
I have engaged first Selling order on #2,900.80 benchmark break-out to the downside and closed my Selling order on #2,887.80 (#2,900.80 - #2,887.80) however as I announced that Gold is on decline just to rise more, I have engaged Buying order on #2,882.80 Support extension and closed my order on #2,900.80 benchmark (#2,882.80 - #2,900.80) where both orders delivered excellent Profits and I called it for the session.
Technical analysis: Flat E.U. opening with visible Selling pressure on Gold, as DX (my main correlating asset currently) Trading on gains and pierced Short-term Resistance caused by impressively great numbers on U.S. economical parameters, secondly Bond Yields engaged relief rally and are currently Targeting #4.600 psychological barrier and third / it is important to mention Usd-Jpy pair which is on steady uptrend and partly it's back to my correlation asset list. Currently, Gold is Trading near one of crucial Support level of #2,872.80 - #2,882.80 and by breaking it, may attract more Sellers and extend Gold’s takedown towards #2,852.80 benchmark sequence. There is strong #2,800.80 benchmark test probability once / if #2,852.80 surrenders and if market closes below #2,900.80 psychological mark while DX invalidated the Hourly 4 chart's Resistance zone am expecting decline to be in continuation under these circumstances. Daily chart is pointing on a steady slide as well, so Medium-term Buyers should take that into consideration before planning a move. Investors remain cautious and that's why Traders are witnessing Low Volume throughout today's session as CPI news are planned ahead.
My position: As long as market closes below #2,900.80 benchmark, I will keep Selling Gold (Intra-day only of course) however keep in mind that anytime Gold can reverse into new relief rally and Bull leg. My break-out points are intact and will Trade by them.
Technical analysis: Flat E.U. opening with visible Selling pressure on Gold, as DX (my main correlating asset currently) Trading on gains and pierced Short-term Resistance caused by impressively great numbers on U.S. economical parameters, secondly Bond Yields engaged relief rally and are currently Targeting #4.600 psychological barrier and third / it is important to mention Usd-Jpy pair which is on steady uptrend and partly it's back to my correlation asset list. Currently, Gold is Trading near one of crucial Support level of #2,872.80 - #2,882.80 and by breaking it, may attract more Sellers and extend Gold’s takedown towards #2,852.80 benchmark sequence. There is strong #2,800.80 benchmark test probability once / if #2,852.80 surrenders and if market closes below #2,900.80 psychological mark while DX invalidated the Hourly 4 chart's Resistance zone am expecting decline to be in continuation under these circumstances. Daily chart is pointing on a steady slide as well, so Medium-term Buyers should take that into consideration before planning a move. Investors remain cautious and that's why Traders are witnessing Low Volume throughout today's session as CPI news are planned ahead.
My position: As long as market closes below #2,900.80 benchmark, I will keep Selling Gold (Intra-day only of course) however keep in mind that anytime Gold can reverse into new relief rally and Bull leg. My break-out points are intact and will Trade by them.
- 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.