As discussed throughout my yesterday's (and many other analysis) commentary: If you have been Buying every dip as per my suggestion you would be in excellent Profits now. I have been Buying Gold from my #3,357.80, #3,367.80, #3,372.80 and #3,378.80 key entry points (last batch of Buying orders closed with Target late U.S. - early Asian session last night).
Technical analysis: Gold is under unprecedented Volatility (however with Bullish underlying trend) with Gold (Xau-Usd Spot) and the Futures price on a tight spread. This is of course the product of heavy speculation in the Metals market, fuelled by the expectation that the Fed’s new talks will be accepted. Needless to mention, this environment is Gold friendly. Technically I do see current aggressive decline in form of a correction as not sustainable however I cannot approach current configuration Technically since these are Fundamentally driven sessions but I do expect a slight pullback back towards #3,352.80 - #3,357.80 only for Gold to soar even more, as the main Support and Higher High’s High’s / Low’s cluster is nearby (#3,357.80 - #3,367.80). Despite Bond Yields stabilization, the continuous Low’s on DX on parabolic decline are adding Buying pressure on Gold and limiting all Selling advance which I am utilizing to it's maximum with my set of Buying orders.
Technical analysis: Gold is Trading on my predicted values as I really don’t mind current consolidation candles within newly formed Hourly 1 chart's Neutral Rectangle. Price-action has made marginal High's on Hourly 4 chart with #3,409.80 (local High's I mentioned earlier that can stall the uptrend) showcasing strong durability. If #3,400.80 benchmark however gets invalidated on High Volume (the last #3-session horizon had been really strong however ahead of local Resistance zone test very anemic) then I can call a test of the #3,427.80 Higher High's extension which represents my next Short-term Target. Gold is extremely Overbought however there are no signs of uptrend exhaustion as I don’t see any firm reason why #3,400.80 benchmark wouldn’t be re-tested within #2-session horizon. Remember, Weekly chart (#1W) still needs a slightly Lower Price (mentioned on previous remarks) before further uptrend as I mentioned that Gold dips only to rise more (Buying accumulation). DX is testing my Higher Low’s heavy Resistance zone as I haven’t got any reservations or doubts regarding its correlation to Gold.
My position: I have re-Bought Gold from #3,382.80 many times throughout yesterday's session and did final aggressive set of Buying orders on #3,388.80 calling for #3,400.80 benchmark late U.S. session which was delivered. I have closed all on #3,400.80 benchmark utilizing current upside push to it's maximum however Gold extended the rise towards #3,409.80 even. I stayed awake and re-Bought #3,395.80 few times since I knew Price-action will be circling #3,400.80 mark and consolidate. I will call it for this week and take early weekend break as I am more than satisfied with my Profits.
Technical analysis: Gold is under unprecedented Volatility (however with Bullish underlying trend) with Gold (Xau-Usd Spot) and the Futures price on a tight spread. This is of course the product of heavy speculation in the Metals market, fuelled by the expectation that the Fed’s new talks will be accepted. Needless to mention, this environment is Gold friendly. Technically I do see current aggressive decline in form of a correction as not sustainable however I cannot approach current configuration Technically since these are Fundamentally driven sessions but I do expect a slight pullback back towards #3,352.80 - #3,357.80 only for Gold to soar even more, as the main Support and Higher High’s High’s / Low’s cluster is nearby (#3,357.80 - #3,367.80). Despite Bond Yields stabilization, the continuous Low’s on DX on parabolic decline are adding Buying pressure on Gold and limiting all Selling advance which I am utilizing to it's maximum with my set of Buying orders.
Technical analysis: Gold is Trading on my predicted values as I really don’t mind current consolidation candles within newly formed Hourly 1 chart's Neutral Rectangle. Price-action has made marginal High's on Hourly 4 chart with #3,409.80 (local High's I mentioned earlier that can stall the uptrend) showcasing strong durability. If #3,400.80 benchmark however gets invalidated on High Volume (the last #3-session horizon had been really strong however ahead of local Resistance zone test very anemic) then I can call a test of the #3,427.80 Higher High's extension which represents my next Short-term Target. Gold is extremely Overbought however there are no signs of uptrend exhaustion as I don’t see any firm reason why #3,400.80 benchmark wouldn’t be re-tested within #2-session horizon. Remember, Weekly chart (#1W) still needs a slightly Lower Price (mentioned on previous remarks) before further uptrend as I mentioned that Gold dips only to rise more (Buying accumulation). DX is testing my Higher Low’s heavy Resistance zone as I haven’t got any reservations or doubts regarding its correlation to Gold.
My position: I have re-Bought Gold from #3,382.80 many times throughout yesterday's session and did final aggressive set of Buying orders on #3,388.80 calling for #3,400.80 benchmark late U.S. session which was delivered. I have closed all on #3,400.80 benchmark utilizing current upside push to it's maximum however Gold extended the rise towards #3,409.80 even. I stayed awake and re-Bought #3,395.80 few times since I knew Price-action will be circling #3,400.80 mark and consolidate. I will call it for this week and take early weekend break as I am more than satisfied with my Profits.
- 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.