Technical analysis: Despite Friday’s session strong response to #3,000.80 psychological benchmark attempt, Gold failed to maintain those High levels and was rejected near the Daily chart’s Resistance zone. Yet, it still found Support on the Daily chart’s bottom of the Higher High’s local Low’s zone, sequence which hold Bearish bias and has High potential to contain current Bullish Short-term recovery. Volatility can wipe out Short-term Traders from from the market, as Gold always tends to remove retail Traders from the equation and then Price a major move. Unless Gold Trade sideways for at least #1 - #3 sessions, Daily chart Rectangle will always pressure for a test with the #3,000.80 psychological benchmark as an upwards variance, which is enough reason for me to pursue Lower Targets (Selling from the Top) unless #3,000.80 benchmark gives away and market closes above the sequence.
My position: I have successfully re-Sold Gold from #3,000.80 moments ago which delivered decent Profit as I await new chance to re-Sell from same vicinity. If however #2,978.80 gives away, sole development will have #2,952.80 benchmark as an most viable Target which I will pursue. Trade accordingly.
My position: I have successfully re-Sold Gold from #3,000.80 moments ago which delivered decent Profit as I await new chance to re-Sell from same vicinity. If however #2,978.80 gives away, sole development will have #2,952.80 benchmark as an most viable Target which I will pursue. Trade accordingly.
- 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.