As discussed throughout my yesterday's session commentary: "My position: I will continue Trading the #2,892.80 - #2,922.80 range, Buying every Low's / dip on Gold unless one of the major break-out points is compromised."
I have waited for one of my benchmarks to get invalidated and since #2,890.80 gave away, I have engaged Selling order on spot and closed it on #2,880.80 which was Trading near #2,877.80 - #2,880.80 Support zone.
Technical analysis: Despite the strong Bearish candle sequence throughout early U.S. session (DX is approaching #52-week Low's), Gold remains Bullish and above my Support for the session as the U.S. session is approaching and geo-political tensions resurfacing. Personally, Price-action didn't caught me by surprise Trading on one of the strongest Hourly 4 chart’s candles in #60 sessions, negating almost all losses that Gold delivered throughout the week. It was Natural to expect Short-term recovery (RSI cooling down Oversold levels) however one could not expect #2 strong Resistance zones to break without serious cause / I did since DX could extend the Selling sequence anytime and add heavy Buying pressure on Gold.
My position: As long as DX is Trading on disappointing numbers, I will Buy every dip on Gold. My current order, Buy with #2,908.80 entry point / optimal Target remains #2,922.80 - #2,927.80 Resistance zone.
I have waited for one of my benchmarks to get invalidated and since #2,890.80 gave away, I have engaged Selling order on spot and closed it on #2,880.80 which was Trading near #2,877.80 - #2,880.80 Support zone.
Technical analysis: Despite the strong Bearish candle sequence throughout early U.S. session (DX is approaching #52-week Low's), Gold remains Bullish and above my Support for the session as the U.S. session is approaching and geo-political tensions resurfacing. Personally, Price-action didn't caught me by surprise Trading on one of the strongest Hourly 4 chart’s candles in #60 sessions, negating almost all losses that Gold delivered throughout the week. It was Natural to expect Short-term recovery (RSI cooling down Oversold levels) however one could not expect #2 strong Resistance zones to break without serious cause / I did since DX could extend the Selling sequence anytime and add heavy Buying pressure on Gold.
My position: As long as DX is Trading on disappointing numbers, I will Buy every dip on Gold. My current order, Buy with #2,908.80 entry point / optimal Target remains #2,922.80 - #2,927.80 Resistance zone.
- 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.