Closing all my Buying order with Profit

As discussed throughout my yesterday's session commentary: "My position: Even though Gold was ready for small correction within #2,815.80 - #2,822.80 before rally continuation and more gains on Gold, Gold ignored such Technical development and invalidated my #2,831.80 Resistance zone where I Bought Gold and still hold my orders. #2,882.80 - #2,892.80 is my ideal Target zone before stagnation zone."


I have closed both of my runners engaged on #2,831.80, first one on #2,870.80 and second one on #2,877.80 in extension on U.S. session opening which brought excellent Profit and extended my #3-week winning range. Well done for Traders who followed!


Technical / Fundamental analysis: Gold eventually honored the Fundamental side (Tariff's speculations) and was isolated within Bullish pattern on the healthy Ascending Channel. Now this is largely uncharted territory on the Hourly 4 chart. Typically the Ascending Channel is a pattern of trend continuation, marking a Bottom and turning Bullish on Short-term even though that Weekly chart delivered interesting development that #MA50 is more than #300-points away from current Price-action. However the larger time-frame of Weekly chart remains Bearish, so again I need to pay attention of potential reversal points and Selling the Top as High (and safely) as I can. Gold was Technically Bearish however Fundamental side prevailed and the result is those Bullish candles which are visible on the charts. Strong Resistance is seen at #2,872.80 - #2,882.80 while first major Support is priced at #2,852.80 benchmark, which means as long as Support is intact, there are more probabilities for the uptrend. It is important to note that below #2,852.80 benchmark, there is only #2,827.80 to hold Gold from testing #2,800.80 benchmark but again I need to keep in mind that on these Fundamentally driven sessions, Gold can go as far as pressure pushes it so I will not try to Sell current Buying bias, only if strong Support gets invalidated. If #2,852.80 gets invalidated before any of the above happens, I have a Bearish break-out as DX found Support for the fractal and started reversing again on the Short-term which might represent Bearish development for Gold Short-term. This uptrend is directly related to the decline on DX as theoretically it makes Investors take capital off of riskier assets and place it in safe-haven assets such as Gold.


My position: #2,866.80 is the Price of now and it is not worth entering. Gold can still turn both ways however if #2,852.80 benchmark gets invalidated and DX continues the Bull run, I will Sell Gold on Spot and pursue #2,827.80 Support in extension. I will continue Buying Gold only if market closes above #2,852.80 benchmark.