Technical analysis: Gold seems to be recovering last week's Intra-day steep decline towards local Bottom in a rather semi-stable fashion with Hourly 4 chart already stepped in Bullish waters sessions ago. The main reason behind it was the strong decline on the DX (comfortably Trading below the #52-week Low's), which entered an Descending Channel and as I've mentioned these past few weeks on my remarks, has the strongest Short and Medium-term effect (positive) on Gold. Technically, there is only #1 session left before the symmetry of the Hourly 4 chart's cycle catches up as the sequence mimics the previous one. Subsequently, every decline since August #12 resulted as an Short-term relief rally which suddenly reversed in even more steeper decline (check August #22, August #29, September #1 and September #7). If fractal is yet to be repeated, I should expect Price-action to show stagnation and stall the uptrend, then kick-start aggressive takedown towards #3,200.80 benchmark configuration where I will be ready with my piercing Selling orders.
My position: I have announced that Gold is on undisputed Bullish trend and total Bullish domination as I've practically Bought every Bottom lately. My suggestion is to continue Buying the dips / every local Low's.
My position: I have announced that Gold is on undisputed Bullish trend and total Bullish domination as I've practically Bought every Bottom lately. My suggestion is to continue Buying the dips / every local Low's.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.