Closing my set of Sell orders with huge Profits / #16 in a row

2020年9月21日

As I stated few hours ago on my morning's post:" Constant monitoring is required as well as checking how the Price-action behaved in the past when similar patterns formed, and Golden rule is to follow and to Trade by is that Gold always repeats it’s cycles. Bottom line: If #1,935.80 gets broken, Gold could test the #1,900.80 Higher Low,". I have closed my set of Sells (#1,932.80 - #1,900.80) with huge Profits (#16 Profits in a row and only #2 Stop-loss hits) at it was pure pleasure to monitor the meltdown and just move Stop-loss lower and lower. Trading the breakout was excellent decision, congrat's for Traders who followed my call.

Gold made an attempt to break the Hourly 4 chart Support (#1,929.80) on the previous Hourly 1 candle sequence and managed to break it, along with the Daily chart #MA50 break, it was the excellent downwards breakout and direct Sell signal. Despite the extreme sell-off on the Stock markets and another strong Bull Hourly candle on Usd-Jpy pair, Gold is on a downtrend but showing signs of exhaustion (which is visible at the moment. #1,882.80 is ultimate Bottom and Lower Low. In my posts from beginning of September you could see that I was expecting this kind of a meltdown, and #1,750.80 on the Medium and Long-term. If it wasn't for this # -1.12% decline today on the Stock markets and Usd-Jpy collapse mainly, Gold would be considerably lower. As expected the Hourly 4 Lower Low held so Short-term Investors who sold the market on that level booked their intra-day Profit and call it for today. I am comfortably on sidelines with #16 Wins in a row Profit shining on my account.