Selling sequence might be on the cards / Selling order active
Gold's general commentary: The Short-term Price-action is Neutral at it’s best as E.U. opening delivered flat movements with Bearish gradient, exactly what I have been expecting. I can spot idle movements on Hourly 4 chart with #1,965.80 seen as an clear Support, Gold eventually altered the uptrend, and it is worth noting that both correlating assets are working favourably to Selling outlook, DX is still Trading within Ascending Channel (able to test the Resistance once again which can add Selling pressure on Gold) while Bond Yields found the Support and engaged the Hourly 4 chart's recovery. Visible though on the Hourly 4 chart, all indicators showing Bearish values (Technically Gold’s fair Price would be around #1,952.80 barrier) and can spot that Gold should break the Rectangle with clear Higher Low’s and Lower High’s, as it is much needed to wait for turn / outcome on Bond Yields and DX to it’s lesser extent. See how the very same divergence has Traded since October #7. On November #6 almost near the Higher High's, Price-action started rising on the Ascending Channel, but once the it broken the Resistance, dipped again and almost formed a new Lower Low, when Fundamentals left the main stage / which is main evidence that these are not usual Trading sessions as Gold is Trading on huge Swings (new norm), as I found many similarities with mentioned pattern. Then again after mentioned Low, Gold started rising until the next Bearish Divergence (which means, after #1,992.80 and #2,000.80 in extension, I expect parabolic decline towards #1,900.80 test / Medium-term). But since Support is broken on multiple occasions, if #1,965.80 gets invalidated, I may see quiet a Bearish session today. All this Price-action points to a decent Selling opportunity for me, but without much needed confirmation. If I had to take a Short-term guess regarding what is going to happen on today’s session, I would note an idle movements until Wall Street opening Bell and gradual #1,778.80 test.
Technical analysis: The Hourly 1 chart’s Ascending Channel got rejected on its Higher High's peak trendline (not counting the abnormal wick of April #14) on a wide fakeout, and is now in the process of pricing it’s real Lower High's and Higher High's sequence. The sequence was quite straightforward. The Price-action (throughout yesterday's session) made a valid breakout, invalidated the Resistance (almost tested the #2,000.80 barrier), and as Buying was strongly limited, recovery was altered, as Gold was Sold back from the Top Intra-day and currently is headed towards fair Technical Prices. My plan is to keep my Selling order ahead of the #1,965.80 configuration break, and if broken, pursue #1,952.80 configuration within the current (will then be) session both Technically and Fundamentally equipped for an Short-term downtrend. Bond Yields broken the Weekly chart (#1W) Resistance and are above the Highest point in #3 Weeks, and only factor which is stalling the uptrend is DX (# +0.04%), and breaking the last week’s Ultimate Top zone could initiate serious Selling sequence on Gold. Be alerted that the markets (especially the DX and Bond Yields) are on High speculation mode ahead of the Fundamental events as Gold could Trade on strong Volatility index. I am expecting #1,965.80 Support break within #2 sessions.
Even though I do not provide financial advices to Traders who aren't part of my paid consulting services (would not be fair for those who paid full prices for my consulting), I receive many inquiries regarding wiped out accounts on Daily basis, and this is my view:
Trading is indeed a growing trend in the world as more and more products come into the table and with the sophisticated algorithms and platforms, everyone can do it from home (or anywhere) as a side income (for some, main income, such as myself as an Professional Gold Trader and analyst), even people who haven't had exposure or training on investments products. But that is the danger of it, new Traders go into Highly leveraged Trading products, make good Profit at first but later due to ignoring how Trades should be managed with Stop-loss etc, they lose their capital quickly. Oversizing is always an bad idea and move to do, as doing it constantly will backfire sooner or later. Or stick to the smaller orders suitable for your account, or choose consulting service with decent reputation and let the Professionals do the work for you.
My position: As I closed my yesterday's Selling order with few points in Profit (nothing big), I engaged new Selling order with #1,980.80 as an entry point. My initial Target is #1,952.80 extension, if #1,965.80 does not reverse the Price-action and kick-starts the rebound towards Higher level.
Technical analysis: The Hourly 1 chart’s Ascending Channel got rejected on its Higher High's peak trendline (not counting the abnormal wick of April #14) on a wide fakeout, and is now in the process of pricing it’s real Lower High's and Higher High's sequence. The sequence was quite straightforward. The Price-action (throughout yesterday's session) made a valid breakout, invalidated the Resistance (almost tested the #2,000.80 barrier), and as Buying was strongly limited, recovery was altered, as Gold was Sold back from the Top Intra-day and currently is headed towards fair Technical Prices. My plan is to keep my Selling order ahead of the #1,965.80 configuration break, and if broken, pursue #1,952.80 configuration within the current (will then be) session both Technically and Fundamentally equipped for an Short-term downtrend. Bond Yields broken the Weekly chart (#1W) Resistance and are above the Highest point in #3 Weeks, and only factor which is stalling the uptrend is DX (# +0.04%), and breaking the last week’s Ultimate Top zone could initiate serious Selling sequence on Gold. Be alerted that the markets (especially the DX and Bond Yields) are on High speculation mode ahead of the Fundamental events as Gold could Trade on strong Volatility index. I am expecting #1,965.80 Support break within #2 sessions.
Even though I do not provide financial advices to Traders who aren't part of my paid consulting services (would not be fair for those who paid full prices for my consulting), I receive many inquiries regarding wiped out accounts on Daily basis, and this is my view:
Trading is indeed a growing trend in the world as more and more products come into the table and with the sophisticated algorithms and platforms, everyone can do it from home (or anywhere) as a side income (for some, main income, such as myself as an Professional Gold Trader and analyst), even people who haven't had exposure or training on investments products. But that is the danger of it, new Traders go into Highly leveraged Trading products, make good Profit at first but later due to ignoring how Trades should be managed with Stop-loss etc, they lose their capital quickly. Oversizing is always an bad idea and move to do, as doing it constantly will backfire sooner or later. Or stick to the smaller orders suitable for your account, or choose consulting service with decent reputation and let the Professionals do the work for you.
My position: As I closed my yesterday's Selling order with few points in Profit (nothing big), I engaged new Selling order with #1,980.80 as an entry point. My initial Target is #1,952.80 extension, if #1,965.80 does not reverse the Price-action and kick-starts the rebound towards Higher level.
- 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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