Sell order engaged / #2,527.80 Target

17. Sept.

Fundamental analysis: Symmetrical Triangle on Hourly 4 chart which had #2,552.80 Target is getting in tight range again as U.S. Treasury attempt to limit the weakness at all costs as their main aim is not to hyper-Inflate the economy. Inflation chart is up on a mere (# +8.00%, in the same time representing ATH values), but Gold is ignoring eminent reversal signs and remains Trading under violent Volatility (usual indecision candles within aggressive Bullish trend) and continuing the Neutral-to-Bearish Intra-day sequence. It is my belief that Investors are unwilling to commit before the full scale Support break, and as an result, Volatility kicked in and Gold didn’t offered anything in particular throughout the session. Personally, I am far from surprised regarding the today’s session turn of the events as Support break and Higher High’s Upper zone test was on the cards as Gold is critically Overbought and Selling opportunity appeared. No Daily changes so far after a very Bearish E.U. session opening on traditionally Volatile Hourly 4 chart’s candles. I can easily spot on Hourly 4 chart how the current slow falling consolidation is repeating the pattern of November #26 - December #5. As discussed, the statistics on how non-Technical sessions affect Gold are usually changeable.


Technical analysis: One of the most Volatile Trading (Annual fractal) week was previous one, according to the Historical Data with a (#82.70%) point differential on Daily chart, also seen by the wide margin on mostly all Hourly charts. Gold remains isolated and seen Trading near local High's and in my book should reveal underlying Intra-day Bearish trend as today’s U.S. session approaches. Technical analysis cannot be immediately effective on such high Volatility levels however as I mentioned on my remarks, I was patiently waiting for breakout where I would Sell on spot again pursuing #2,552.80 benchmark first with my piercing Selling orders. Technically, Daily chart formed healthy Ascending Channel and got rejected near #2,600.80 psychological benchmark for #7-consecutive times in a row as Price-action is gradually building it’s way to Lower levels.


My position: I have engaged Selling order with #2,578.80 entry point / optimal Target remains #2,552.80 benchmark first and if invalidated, #2,527.80 Support in extension. I do believe that Gold's reversal is showcasing signs of heavy exhaustion and correction downwards is ahead (all goes according to my plan / model as I maintain my strategy accordingly).