As discussed throughout my yesterday's session commentary: "My position: I do expect Gold to continue Buying every dip as I will use my re-Buy points for Intra-day Profit."
I have firstly re-Bought Gold multiple times from #3,022.80 towards #3,030.80 delivering excellent #5 - #8-point Profits and later on after #3,006.80 test, re-Bought Gold both from #3,006.80 and #3,010.80 / closed both on #3,021.80 in the morning.
Technical analysis: Gold has started pulling downwards on Hourly 4 chart throughout yesterday's session as DX (near #2-Month High’s) began to recover a big portion of last week's losses, development which is constantly applying Selling pressure on Gold. DX just went below its Head and Shoulders pattern / right Shoulder (#105.800 Resistance for now) however Gold is still above (not surprisingly) it’s Hourly #4 chart’s Support for the fractal. This is expected as Gold is always lagging on similar situations when DX recover and Gold’s parked capital is Invested back into the equity markets. Because of this lag, I expect at least (# +1.00%) Daily chart’s candle in the coming sessions on Gold as long as #2,992.80 - #3,000.80 is holding as a firm Support zone and delivering strong sustainability. With current Technical and Fundamental configuration, Gold should not stay as Low as current values, as it is Natural to expect gains above #3,027.80 - #3,032.80 Resistance zone. I need to mention again that the DX Price-action movement should always be considered and such imbalances between correlating instruments should always be taken advantage of. Gold acting as a safe-haven these last few Months represented fantastic Buying opportunities which I was utilizing to its maximum.
My position: Strategy remains / Buying every dip on Gold from my re-Buy calculated zones.
I have firstly re-Bought Gold multiple times from #3,022.80 towards #3,030.80 delivering excellent #5 - #8-point Profits and later on after #3,006.80 test, re-Bought Gold both from #3,006.80 and #3,010.80 / closed both on #3,021.80 in the morning.
Technical analysis: Gold has started pulling downwards on Hourly 4 chart throughout yesterday's session as DX (near #2-Month High’s) began to recover a big portion of last week's losses, development which is constantly applying Selling pressure on Gold. DX just went below its Head and Shoulders pattern / right Shoulder (#105.800 Resistance for now) however Gold is still above (not surprisingly) it’s Hourly #4 chart’s Support for the fractal. This is expected as Gold is always lagging on similar situations when DX recover and Gold’s parked capital is Invested back into the equity markets. Because of this lag, I expect at least (# +1.00%) Daily chart’s candle in the coming sessions on Gold as long as #2,992.80 - #3,000.80 is holding as a firm Support zone and delivering strong sustainability. With current Technical and Fundamental configuration, Gold should not stay as Low as current values, as it is Natural to expect gains above #3,027.80 - #3,032.80 Resistance zone. I need to mention again that the DX Price-action movement should always be considered and such imbalances between correlating instruments should always be taken advantage of. Gold acting as a safe-haven these last few Months represented fantastic Buying opportunities which I was utilizing to its maximum.
My position: Strategy remains / Buying every dip on Gold from my re-Buy calculated zones.
- 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.