Closed first set of Sells with excellent Profits

2020年3月12日

Target extension hit #1,630.70, as I mentioned during the week ahead of US Session is the - Hourly 4 Descending Channel Gap fill range. I have closed my first set of Sells with great Profits. With my downside Targets now almost completed, Friday's Gap is filled, Daily chart got the necessary Technical correction and everything points out to a Bearish continuation with price action calling for #1,600.70 and #1,580.70 extension. I should be seeing a continuation of the downtrend back towards the #1,614.70 first, then my Target (#1,600.70). That would be on any other occasion however as due to the Fed Rate Cut announcement, Gold is not under normal market conditions, but yet again, I am fully Bearish on Gold (Short-term). This is obvious as DX broke to yet another High and Stocks are on a gradual uptrend. This development adds more Selling pressure on Gold. In my opinion Stocks are they asset to monitor, if they extend their recovery (and DX makes its first Bullish Daily candle) Gold will follow its Technical Bearish course (Short-term) and dip even further. Otherwise it will have to be postponed until tomorrow and the all important Non-farm Payrolls. Who followed my calls and had patience to keep them, Congrat's on Profits!