My position: I have engaged new Selling order with #2,302.80 entry point (optimal Target remains #2,252.80 benchmark which will be certainly met if my Support zone breaks. Gold is seen Trading within Rising Wedge and might collapse aggressively if it breaks to the downside. This is officially #500-point uptrend on Gold within #5-Month time, rarely seen on Gold markets (also without firm catalyst).
I have closed my first Selling order (#2,302.80 - #2,284.80) with fine #16-point Profit as I engaged another Selling order on #2,301.80 late session spike towards #2,288.80 delivering another #13-point Profit within the same session. I am more than satisfied with my recent results (#33 Profits and #6 Stop-loss hits) regarding December - April's cycle.
Technical analysis: As Trading sessions go by, overall Bullish trend is well preserved as past two Weekly chart’s (#1W) candles have been within (# +3.00%) and (# +4.00%) which for Gold is indicative of very Bullish Price-action. Since mid-February, I have been in attempt to make clear that a #2 weeks - #2 Month consolidation would be Natural at this stage in order to come to terms with the Daily chart’s #MA50 which is slowly closing in on Medium-term Support zone. This makes me believe that as soon as Fundamental outside factor leaves all market classes, multi-Month Selling season is about to start. It is an optimal time in my opinion to start Selling some of those very undervalued Bearish patterns lately. As for Gold, until the February #29 Ascending Channel breaks (either above more which I doubt, or below towards previous Higher High’s Lower zone) there is no reason to continuously Buy Gold on Daily chart’s High’s / Low’s (even though Gold delivered record High's test-and-break each session lately). Gold revives Buying interest for the #5th time now delivering aggressive Buying impulses within Rising Wedge formation on Hourly #1 and #4 chart (March #26, April #1, April #3) and currently twice ideal re-Sell entry is aggressively reversed with #20 - #30 point spike (I repeat, all this is delivered in very unfriendly Trading environment for Gold).
My position: Since #1,800's (mid-October roughly) Gold (prior to every Selling sequence) didn't delivered at least #2 consecutive local Lower Low's / this have never happened in Gold's history. I am more than satisfied with my capital and will look to re-Sell (quick entry and closing) before NFP numbers where I do expect Gold to react strongly on upside surprise on the announcement.
I have closed my first Selling order (#2,302.80 - #2,284.80) with fine #16-point Profit as I engaged another Selling order on #2,301.80 late session spike towards #2,288.80 delivering another #13-point Profit within the same session. I am more than satisfied with my recent results (#33 Profits and #6 Stop-loss hits) regarding December - April's cycle.
Technical analysis: As Trading sessions go by, overall Bullish trend is well preserved as past two Weekly chart’s (#1W) candles have been within (# +3.00%) and (# +4.00%) which for Gold is indicative of very Bullish Price-action. Since mid-February, I have been in attempt to make clear that a #2 weeks - #2 Month consolidation would be Natural at this stage in order to come to terms with the Daily chart’s #MA50 which is slowly closing in on Medium-term Support zone. This makes me believe that as soon as Fundamental outside factor leaves all market classes, multi-Month Selling season is about to start. It is an optimal time in my opinion to start Selling some of those very undervalued Bearish patterns lately. As for Gold, until the February #29 Ascending Channel breaks (either above more which I doubt, or below towards previous Higher High’s Lower zone) there is no reason to continuously Buy Gold on Daily chart’s High’s / Low’s (even though Gold delivered record High's test-and-break each session lately). Gold revives Buying interest for the #5th time now delivering aggressive Buying impulses within Rising Wedge formation on Hourly #1 and #4 chart (March #26, April #1, April #3) and currently twice ideal re-Sell entry is aggressively reversed with #20 - #30 point spike (I repeat, all this is delivered in very unfriendly Trading environment for Gold).
My position: Since #1,800's (mid-October roughly) Gold (prior to every Selling sequence) didn't delivered at least #2 consecutive local Lower Low's / this have never happened in Gold's history. I am more than satisfied with my capital and will look to re-Sell (quick entry and closing) before NFP numbers where I do expect Gold to react strongly on upside surprise on the announcement.
- My official and only Telegram Channel: t.me/goldenBear88
- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.
- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.