Sell order activated / DX Trading on Bullish Gap fill
Technical analysis: Productive session for both Buyers and Sellers as Gold remained Neutral on Intra-day level (throughout yesterday's session) and the Hourly 1 chart is still respecting my #1,722.80 - #1,752.80 estimated isolation range. DX was on slight rise which was instantly Sold back (keeping Gold both Bullish and Bearish but on High levels in comparison with start of the Trading week), DX is somewhat flat and U.S. futures are ranging and this is the mix that was keeping Gold Neutral and within + - #20 point belt. I really don’t mind as Gold was gradually melting towards my Targets and I utilized current Selling sequence to it’s maximum (Selling Gold near local Top's and making additional Profit which I don't post here on forum). The Hourly 1 chart’s Resistance zone is near so watch out for an Intra-day rebound there (Trading at #1,745.80). Gold is on a tight spot around the current mark (Spot price) and is consolidating on Hourly 1 chart (Micro level) since yesterday’s session U.S. opening Bell. DX was taking strong hits throughout yesterday’s session and miraculously recovered (found the Support) as that configuration should again bring consolidation candles as I believe that since Gold is approaching the #1,707.80 - #1,711.80 Upper zone of the Daily chart’s Descending Channel started few sessions ago, Gold could dip towards #1,700.80 barrier or below (towards #1,690.80), and is only matter of time (where the Daily chart’s Lower Low extension currently is) fully ignoring Oversold Technical values. Unless DX slide dramatically next (I give less chances to that as Inflation is growing) Gold has to engage the aggressive takedown. One of the dangers which could invalidate my model, is apparent #1,745.80 Resistance break which is far away from current configuration.
My position: I have engaged my Selling order with #1,728.80 as an entry point, and my optimal Target is seen Trading at #1,690.80 extension. As I stated many times and mentioned on my remarks that as long as DX is strong (and will continue to do so for more than #10 sessions), Sell Gold on every local Top's and make excellent Profit (once one determines the trend (which is fully Bearish), utilize it to it's maximum). DX is on #52-Week High's and Gold's Bullish bias / recovery is strongly limited. At this point my Trade is going nicely.
My position: I have engaged my Selling order with #1,728.80 as an entry point, and my optimal Target is seen Trading at #1,690.80 extension. As I stated many times and mentioned on my remarks that as long as DX is strong (and will continue to do so for more than #10 sessions), Sell Gold on every local Top's and make excellent Profit (once one determines the trend (which is fully Bearish), utilize it to it's maximum). DX is on #52-Week High's and Gold's Bullish bias / recovery is strongly limited. At this point my Trade is going nicely.
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- 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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