Tide turned in Sellers favor

As discussed throughout my yesterday's session commentary: "My position: I will keep Buying and Selling Gold only with my aggressive Scalp orders from my key entry and reversal points."


Firstly I have engaged multiple re-Buy orders on #3,320.890 towards #3,327.80 (Scalp of course) delivering decent Profit however when #3,322.80 got invalidated, personally I wasn't trusting the decline and re-Bought aggressively #3,312.80, #3,305.80 and #3,294.80. I did that successfully / in & out delivering excellent Profit however I would made much more if I Shorted Gold personally.


Technical analysis: The strong pullback shy of making a #3,282.80 local Low’s is a Natural Short-term correction. Yesterday's candle sequence can be identified as Three Black Crows formation but even then Daily chart remained Bullish currently as long as #3,277.80 - #3,288.80 Support zone is intact. Level mentioned represents key Support zone and it is no coincidence that the Price-action rebounded there. Hourly 4 chart is now Bearish again so I expect Bearish continuation on Gold (Sell every High's) unless Gold closes the session above #3,300.80 mark. Few Bearish important marks were hit earlier than I expected (had this for the end of the week personally) so now if / when #3,288.80 gets invalidated, I am expecting the final extension wave of this parabolic run towards #3,252.80 benchmark. I believe this will be a major Support, but shouldn't necessarily cause intense pull-back but a new Monthly accumulation period.


My position: I will Sell every High's on Gold, and pursue #3,252.80 benchmark with my both Scalp and Swing orders. I am well known Seller of Gold.