Gold within Neutral belt / #4 Profits row
As discussed throughout my yesterday's commentary: "My position: Even though Gold delivers many reversal signs, I still believe that #1,992.80 should be met within current Trading week's borders. I engaged my Buying order with #1,968.80 entry point, Targeting #1,992.80 in extension. If #1,980.80 breaks, filling #1,992.80 Intra-day remains an strong possibility. #1,958.80 Support negates Buying bias regarding current session."
I have closed my Buying order throughout yesterday's session after so many Resistance break attempts (#1,968.80 - #1,979.80) on a fine #11 point spread. I have extended my Profits run to #4 in a row regarding April's cycle. Congratulations for Traders who followed my call.
Technical analysis: Gold has entered the #1,970.80 - #1,980.80 Profit Taking zone, which is the first one on current Bullish wave and as discussed throughout the Trading week, it would be optimal for Short-term Traders to book their Profits until #1,984.80 variance and re-engage only after Resistance benchmark breaks (Technically). Fundamentally, Gold is strong Selling option and Selling on such Technical Bullish landscape could be disastrous for one’s capital. After, if you took the Higher High's Lower zone Buy order on Weekly chart’s Support zone I mentioned, your Profit is already too good to be ignored. With the Hourly 4 chart RSI having been rejected at #70.000 (many similarities with December #2 fractal), current Bullish sequence resembles more and more the last strong rebound of October #29 - November #9. Halfway before it’s Top, this rebound pulled back to test the Hourly 4 chart’s #MA50, so Technically I can't ignore this possibility before Gold eventually hits the Hourly 4 chart’s #1,992.80 Higher High’s peak then reverses towards #1,952.80 or Lower. Mentioned variance could Technically be possible, but with all reversal signs, I should be extra careful with my next order and Stop-loss selection. Personally, chances of Gold testing the #2,000.80 psychological barrier (former multi-Month High’s) are small and almost equal to zero, unless #1,984.80 gets tested and invalidated on one try.
My position: As I am more than satisfied with my Monthly results, I won't jump onto new order unless Profitable pattern arises. Best viable Trading plan at the moment is to Trade the breakout, #1,984.80 break may arise Buyers which will push the Price-action towards #2,000.80 barrier, while break of #1,961.80 - #1,959.80 Support belt invalidates Buying potential and is a sign that Gold should be Sold towards #1,927.80 strong Support zone (former Lower High's peak).
I have closed my Buying order throughout yesterday's session after so many Resistance break attempts (#1,968.80 - #1,979.80) on a fine #11 point spread. I have extended my Profits run to #4 in a row regarding April's cycle. Congratulations for Traders who followed my call.
Technical analysis: Gold has entered the #1,970.80 - #1,980.80 Profit Taking zone, which is the first one on current Bullish wave and as discussed throughout the Trading week, it would be optimal for Short-term Traders to book their Profits until #1,984.80 variance and re-engage only after Resistance benchmark breaks (Technically). Fundamentally, Gold is strong Selling option and Selling on such Technical Bullish landscape could be disastrous for one’s capital. After, if you took the Higher High's Lower zone Buy order on Weekly chart’s Support zone I mentioned, your Profit is already too good to be ignored. With the Hourly 4 chart RSI having been rejected at #70.000 (many similarities with December #2 fractal), current Bullish sequence resembles more and more the last strong rebound of October #29 - November #9. Halfway before it’s Top, this rebound pulled back to test the Hourly 4 chart’s #MA50, so Technically I can't ignore this possibility before Gold eventually hits the Hourly 4 chart’s #1,992.80 Higher High’s peak then reverses towards #1,952.80 or Lower. Mentioned variance could Technically be possible, but with all reversal signs, I should be extra careful with my next order and Stop-loss selection. Personally, chances of Gold testing the #2,000.80 psychological barrier (former multi-Month High’s) are small and almost equal to zero, unless #1,984.80 gets tested and invalidated on one try.
My position: As I am more than satisfied with my Monthly results, I won't jump onto new order unless Profitable pattern arises. Best viable Trading plan at the moment is to Trade the breakout, #1,984.80 break may arise Buyers which will push the Price-action towards #2,000.80 barrier, while break of #1,961.80 - #1,959.80 Support belt invalidates Buying potential and is a sign that Gold should be Sold towards #1,927.80 strong Support zone (former Lower High's peak).
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
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