Closed my Sell order with Profits / waiting for #1,844 break
Regarding my closed position, as discussed:" I engaged my Sell order on #1,857.80 configuration, calling for #1,835.80 Support test / if broken, I will re-Sell Gold towards #1,805.80." / I have closed my Sell order with decent Profits a bit earlier than I expected (#1,857.80 - #1,845.80) and will engage only if #1,844.20 breaks, Targeting #1,830.80. I didn't wanted to risk more and keep the position as #1,845.80 is strong Support and can reverse the trend easily. Congrat's for Traders who followed my call!
Gold's general outlook: So far so good, aswell as interesting turn of events on the Short-term as Gold (Xau-Usd as always on my commentary) crossed Short-term Support on the Hourly 1 chart and crossed aswell #3 session Low, which as usual resulted as an Buying back the losses. This is an additional Short-term Bear signal similar to February #2 - #5 #2020 parabolic rise, which ended as an correction. The Daily chart needed consolidation and is again more on the Bearish side than Neutral, as Gold is still ignoring the strong trend on Bond notes, following mostly gains on DX (breaking the Resistance) as Global Geopolitics dust rises, and as long those guide the market sentiment, further uncertainty on Gold is inevitable. I have nothing to add to my previous analysis (I saw how the Fundamental statistics were right giving Gold Selling pressure Hourly horizon) and only if Monthly Support at #1,844.80 is broken, Gold can give one more downturn opportunity towards #1,820.80. Other than that, with U.S. announcements speculations (announcing the #5 month Plan policy) I see no reason to Buy Gold.
Technical analysis: Nothing out of the ordinary as yesterday’s Support test, and later on rebound was sustained as Gold (Xau-Usd numbers on my commentary as always) is about to test the upper Lower Low zone again of the Hourly 4 Triangle. Gold is Trading within the obvious Triangle and now Price-action can break on both sides, since Triangles are indecision patterns in most cases and it is now gamble which side will prevail. This should keep me ready and prepared to engage my Selling sequence with set of Sell orders I am already operating with, if #1,844.80 breaks. Even if Triangle breaks upwards, Gold still has the Hourly 4 Resistance to break (#1,874.80 which is holding since January #6). DX is adding strong Selling pressure on Gold, gaining with every candle and if Buyers decide to reverse the Bearish sentiment, Price-action has to break #2 strong Resistances on the way up, which makes me maintain my Selling setup since there are only #1 strong Support all the way towards the #1,805.80 configuration (#1,845.80). However, Daily chart is on a healthy Channel Down, which made a perfect Higher Low bounce this week, so the Short-term Bearish trend is so far intact. I expect #1,831.80 within #1 session.
Gold's general outlook: So far so good, aswell as interesting turn of events on the Short-term as Gold (Xau-Usd as always on my commentary) crossed Short-term Support on the Hourly 1 chart and crossed aswell #3 session Low, which as usual resulted as an Buying back the losses. This is an additional Short-term Bear signal similar to February #2 - #5 #2020 parabolic rise, which ended as an correction. The Daily chart needed consolidation and is again more on the Bearish side than Neutral, as Gold is still ignoring the strong trend on Bond notes, following mostly gains on DX (breaking the Resistance) as Global Geopolitics dust rises, and as long those guide the market sentiment, further uncertainty on Gold is inevitable. I have nothing to add to my previous analysis (I saw how the Fundamental statistics were right giving Gold Selling pressure Hourly horizon) and only if Monthly Support at #1,844.80 is broken, Gold can give one more downturn opportunity towards #1,820.80. Other than that, with U.S. announcements speculations (announcing the #5 month Plan policy) I see no reason to Buy Gold.
Technical analysis: Nothing out of the ordinary as yesterday’s Support test, and later on rebound was sustained as Gold (Xau-Usd numbers on my commentary as always) is about to test the upper Lower Low zone again of the Hourly 4 Triangle. Gold is Trading within the obvious Triangle and now Price-action can break on both sides, since Triangles are indecision patterns in most cases and it is now gamble which side will prevail. This should keep me ready and prepared to engage my Selling sequence with set of Sell orders I am already operating with, if #1,844.80 breaks. Even if Triangle breaks upwards, Gold still has the Hourly 4 Resistance to break (#1,874.80 which is holding since January #6). DX is adding strong Selling pressure on Gold, gaining with every candle and if Buyers decide to reverse the Bearish sentiment, Price-action has to break #2 strong Resistances on the way up, which makes me maintain my Selling setup since there are only #1 strong Support all the way towards the #1,805.80 configuration (#1,845.80). However, Daily chart is on a healthy Channel Down, which made a perfect Higher Low bounce this week, so the Short-term Bearish trend is so far intact. I expect #1,831.80 within #1 session.
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- 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.
