I didn't engaged any re-Sell orders throughout yesterday's session and re-Sold Gold on #3,295.80 ahead of Asian session, with plan to keep orders over-night. However due NFP, Gold might be stationary / ranging until the news as I closed both of my orders on #3,291.80 / each #9.000 Eur Profit and my #3,300.80 pending Sell limit has been triggered over-night which is now running in Profits with Stop on breakeven. I do expect #3,277.80 and #3,252.80 Targets to be met within #1 - #3 sessions and if there aren't NFP numbers, I would keep all three orders / set of Selling orders maintaining my first #3,277.80 Target. Due the news, Gold might fluctuate within Neutral Rectangle until the news.
Technical analysis: My earlier Selling configuration / Technical expectations was confirmed on Hourly 4 chart under prolonged weakness and Price-action respecting the trend-line guarding the downtrend (very Bearish formation) as Hourly 1 chart is already an aggressive Descending Channel (width opened on Williams) that should reach it’s next local Low’s (currently Trading slightly below Double Bottom) and Oversold state near my take Profit of #3,252.80 benchmark. If the bands are widened Traders may witness #3,277.80 test, also if gets invalidated and #3,270.80 gives away, #3,252.80 mark extension test is inevitable. In any case I will update my Targets or levels of Profit taking if I decide to exit earlier than #3,252.80 benchmark to be in accordance with the Daily chart’s period / I already ride Selling wave since #,3,300's and my Profit will be already good to ignore.
My position: DX is soaring, Gold is under Bearish Technical developments and #3,252.80 benchmark is my final Target of current Selling leg. Only factor which can reverse this Intra-day but not postpone is NFP. I expect downside Jobs surprise which may reverse DX from local High's however hot upside surprise will make Gold test #3,252.80 Intra-day. NFP or not I do believe Gold is Bearish. Trade accordingly.
Technical analysis: My earlier Selling configuration / Technical expectations was confirmed on Hourly 4 chart under prolonged weakness and Price-action respecting the trend-line guarding the downtrend (very Bearish formation) as Hourly 1 chart is already an aggressive Descending Channel (width opened on Williams) that should reach it’s next local Low’s (currently Trading slightly below Double Bottom) and Oversold state near my take Profit of #3,252.80 benchmark. If the bands are widened Traders may witness #3,277.80 test, also if gets invalidated and #3,270.80 gives away, #3,252.80 mark extension test is inevitable. In any case I will update my Targets or levels of Profit taking if I decide to exit earlier than #3,252.80 benchmark to be in accordance with the Daily chart’s period / I already ride Selling wave since #,3,300's and my Profit will be already good to ignore.
My position: DX is soaring, Gold is under Bearish Technical developments and #3,252.80 benchmark is my final Target of current Selling leg. Only factor which can reverse this Intra-day but not postpone is NFP. I expect downside Jobs surprise which may reverse DX from local High's however hot upside surprise will make Gold test #3,252.80 Intra-day. NFP or not I do believe Gold is Bearish. 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.