Closing my Selling order Intra-day / #22 Profits row
As discussed throughout Friday's session commentary: "My position: Without hesitating, I have engaged new Selling order with #1,796.80 as an key entry point. My Selling order has #1,780.80 as an first Target, and since it is Friday's session, I will look to close the order soon enough and implement strict Risk management which will protect my capital and previous results. I am expecting ISM PMI to add more credence to Gold's Sellers Fundamentally aswell, where Gold aims for Lower levels as long as it is Trading below #1,814.80 - #1,816.80 Resistance zone."
I have closed my Selling order Intra-day throughout Friday's session (#1,796.80 - #1,785.80) on a fine #11 point Profit run, extending my Profits range to #22 Profits and #4 Stop-loss hits regarding April - July cycle. I will use this chance to congratulate Traders who followed my call and had patience to hold the order, well done!
Technical analysis: The Price-action was once again seen Trading below the #1,800.80 benchmark, gaining additional Selling momentum as DX was Trading on Daily chart’s extended recovery where Sellers finally prevailed and dragged the Price-action more than #57 points downwards (as was announced on one of my remarks lately that Gold always prints #57 point decline once the local High’s rejects the sequence and delivers the eminent rebound). Gold is dangerously approaching again the Higher Low’s trendline of the Daily chart’s wide Descending Channel, way below the #MA50 (aswell on Daily chart, representing in the same manner the Medium-term Resistance zone) in deep Oversold waters, which could be a messenger of a multi-Month Bearish cycle ahead on Gold with Death Cross formation nicely forming aswell on Daily chart. Buyer’s efforts and commitment is once again left unrewarded. However, it would be best for Short-term Sellers to wait for area to be engulfed, as tomorrow’s session will most likely represent the crossroads for the Week, taking in consideration that one can never foresee the sequence until when Fundamentally driven rises and upswing (such as current one) will last.
Fundamental analysis: Lagging upswing sequence comforted Sellers on Intra-day basis, as Price-action was close to the multi-Month Bottom. The Price-action has altered the downtrend fractal near the Daily chart’s Descending Channel’s Lower zone, as discussed on my latest commentary, with current mentioned configuration above representing former strong #1-Month Resistance zone. As long as this holds, there are Higher probabilities to reach the Hourly 4 chart’s Higher Low’s zone again (which is right now priced at #1,792.80) on Spot prices but touch may be completed Lower depending on the aggression of the current variance. Technically, Gold should ease the Oversold levels, but on such Fundamental landscape (Bearish bias), it is not wise to Buy the market. After all, on the Daily timeframe, the pattern is an healthy Descending Channel which just touched the Higher Low’s trendline and has a limit just over #1,772.80 structure, my main point of interests (depending on the impulse of the wave started early last Week). Above the #1,823.80, Short-term Selling pattern is postponed but not invalidated.
My position: I would Sell Gold on spot (#1,809.80 entry point, Selling towards #1,772.80 extension) if there wasn't U.S. holiday, as I don't expect much from today's session because of it. I will await tomorrow's session and then make my move, needless to mention that I am heavily on Selling side regarding Gold's both Short and Medium-term. I am more than satisfied with my Trading results for current Yearly fractal.
Important update: As an addition to providing market insights and guidance on Gold (signals), I have been receiving increased inquiries regarding mentorship and Trading education. With that being said, I have decided that I will not only be providing consulting in regards to the market but I will also be providing teaching and education on Gold Trading (#1 on #1 classes) / this I’ll include Technical and Fundamental analysis . If this is something you are interested in or if this is something you have requested from me, please feel free to get in contact with me to get further information.
I have closed my Selling order Intra-day throughout Friday's session (#1,796.80 - #1,785.80) on a fine #11 point Profit run, extending my Profits range to #22 Profits and #4 Stop-loss hits regarding April - July cycle. I will use this chance to congratulate Traders who followed my call and had patience to hold the order, well done!
Technical analysis: The Price-action was once again seen Trading below the #1,800.80 benchmark, gaining additional Selling momentum as DX was Trading on Daily chart’s extended recovery where Sellers finally prevailed and dragged the Price-action more than #57 points downwards (as was announced on one of my remarks lately that Gold always prints #57 point decline once the local High’s rejects the sequence and delivers the eminent rebound). Gold is dangerously approaching again the Higher Low’s trendline of the Daily chart’s wide Descending Channel, way below the #MA50 (aswell on Daily chart, representing in the same manner the Medium-term Resistance zone) in deep Oversold waters, which could be a messenger of a multi-Month Bearish cycle ahead on Gold with Death Cross formation nicely forming aswell on Daily chart. Buyer’s efforts and commitment is once again left unrewarded. However, it would be best for Short-term Sellers to wait for area to be engulfed, as tomorrow’s session will most likely represent the crossroads for the Week, taking in consideration that one can never foresee the sequence until when Fundamentally driven rises and upswing (such as current one) will last.
Fundamental analysis: Lagging upswing sequence comforted Sellers on Intra-day basis, as Price-action was close to the multi-Month Bottom. The Price-action has altered the downtrend fractal near the Daily chart’s Descending Channel’s Lower zone, as discussed on my latest commentary, with current mentioned configuration above representing former strong #1-Month Resistance zone. As long as this holds, there are Higher probabilities to reach the Hourly 4 chart’s Higher Low’s zone again (which is right now priced at #1,792.80) on Spot prices but touch may be completed Lower depending on the aggression of the current variance. Technically, Gold should ease the Oversold levels, but on such Fundamental landscape (Bearish bias), it is not wise to Buy the market. After all, on the Daily timeframe, the pattern is an healthy Descending Channel which just touched the Higher Low’s trendline and has a limit just over #1,772.80 structure, my main point of interests (depending on the impulse of the wave started early last Week). Above the #1,823.80, Short-term Selling pattern is postponed but not invalidated.
My position: I would Sell Gold on spot (#1,809.80 entry point, Selling towards #1,772.80 extension) if there wasn't U.S. holiday, as I don't expect much from today's session because of it. I will await tomorrow's session and then make my move, needless to mention that I am heavily on Selling side regarding Gold's both Short and Medium-term. I am more than satisfied with my Trading results for current Yearly fractal.
Important update: As an addition to providing market insights and guidance on Gold (signals), I have been receiving increased inquiries regarding mentorship and Trading education. With that being said, I have decided that I will not only be providing consulting in regards to the market but I will also be providing teaching and education on Gold Trading (#1 on #1 classes) / this I’ll include Technical and Fundamental analysis . If this is something you are interested in or if this is something you have requested from me, please feel free to get in contact with me to get further information.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
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