goldenBear88

goldenBear88

Gold was among the winners of the Fed's decision this week. Valuable ground's given and #1,600.70 looks unreachable for at least #2 sessions. Investors clearly show their interest to try riskier assets like equities and as long as Stocks continue to rise (Currently on Ascending Channel), Gold will keep losing ground (that is what I am waiting for). Daily chart...

goldenBear88

Another High on the emerging Hourly 4 Channel Up which was testing the #1,650.70 mark quickly entered the Overbought territory. It is more than obvious that Gold is spiked up by Fed Rate announcement and confirmed the Bullish aggressive Daily Gap fill. On the World’s political uncertainty as both correlating markets are moving on a much slower pace (yesterday's...

goldenBear88

Another High on the emerging Hourly 4 Channel Up which was testing the #1,650.70 mark quickly entered the Overbought territory. It is more than obvious that Gold is spiked up by Fed Rate announcement and confirmed the Bullish aggressive Daily Gap fill. On the World’s political uncertainty as both correlating markets are moving on a much slower pace (yesterday's...

goldenBear88

I closed my set of Buys I engaged this morning with extra-ordinary Profits! New High formed at #1,630.70 as Hourly 4 Channel Up continued rising after Fed rate report. This may suggest that the Channel Up requires small consolidation (few $ down) before it moves lower or a Higher High push further. In any case, last week's Weekly candle was so strong that it...

goldenBear88

I closed my set of Buys I engaged this morning with extra-ordinary Profits! New High formed at #1,630.70 as Hourly 4 Channel Up continued rising after Fed rate report. This may suggest that the Channel Up requires small consolidation (few $ down) before it moves lower or a Higher High push further. In any case, last week's Weekly candle was so strong that it...

goldenBear88

I have closed my Set of Sells with excellent Profit. Gold is so far holding the #1,580.70 Belt and Hourly 4 chart after pricing its Lower High, it is extending its Channel Up with #1,632.70 as the next Higher High Target. Despite another day of rebound on Stocks, Gold is less affected as it continues to be more tied to DX ( Gold # +0.28%, DX # -0.35%). Note how...

goldenBear88

I have closed my Set of Sells with excellent Profit. Gold is so far holding the #1,580.70 Belt and Hourly 4 chart after pricing its Lower High, it is extending its Channel Up with #1,632.70 as the next Higher High Target. Despite another day of rebound on Stocks, Gold is less affected as it continues to be more tied to DX (Gold # +0.28%, DX # -0.35%). Note how...

goldenBear88

New Low formed at #1,489.90 as Hourly 5 assuming control of the downtrend on a smaller scale with Daily chart still not becoming oversold. This may suggest that the Channel Down requires small consolidation (few $ up) before it moves lower or a Lower High push near #1,487.70. In any case, last week's Weekly candle was so strong that it erased 50% of the gains of...

goldenBear88

Gold almost tested #1,491.20 Low yesterday, which is the first Support on Daily chart. What keeps Gold pulling back after every dip is USA-China trade settlement and weak DX. Since it got rejected at #1,504.20 and we are already on the second straight bearish Daily candle, I will treat that as a technical Double Top rejection with the next technical stop on the...

goldenBear88

As I noted yesterday, Gold is in inevitable Bear market. Now, we got space for small correction on Gold, but in meantime, DX had a Bullish confirmation which was a catalyst for Bearish wave on Gold. DX had a strong reversal but technically it should be on a selling pressure since US equities are in huge crisis. Of course, we are engaging a new Short and taking all...

goldenBear88

I essentially have nothing to add as the start to this (Weekly) candle is almost flat. The pattern is a Descending Channel and only a crossing #1,500.20 can keep a sustainable downtrend on Hourly 5 chart, though the bullish reversal bias from this point is not in it's strongest effect like it was in previous days. The scalpers of Friday's suggested range should...

goldenBear88

Gold has been rising on very low volume since Dec 14. When I shorted #1,467.80, I expected prices below #1,448.20 as a fair value of Gold, but what kept Gold and pushed it up is incoming capital of investors and strong DX. I miscalculated short term Gold trend but now we got DX working on our side, initiating the last chain fall to #1,450.80. I am waiting for this...

goldenBear88

The Hourly 5 Channel Up broke downwards as yesterday's positive Pending Home Sales weigh favorably on the DX. As I said yesterday the Hourly 5 EMA200 at #1,495 is there to support as a last resort measure, but if it breaks the (D) Support #1,483.80 will be tested. Note here that the (D) EMA50 hasn't been crossed throughout Gold's aggressive uptrend since late May...

goldenBear88

Pending Home Sales pushed Gold on lower levels. The market hasn't priced such impressive forecast beating and that is the reason keeping Gold within the low #1,500 - #1,510 zone. The Dollar is logically rising after such data and Buyers should put a very good defense tomorrow of the Hourly 5 Chart EMA200 at #1,495.20 in order to keep Gold bullish on the medium...

goldenBear88

The U.S. ADP Nonfarm Employment Change and House Sales missed their estimates by a respectable margin the DX is already pulling back on a small Bearish Daily candle. The Stock markets also follow that decline and the only reason Gold hasn't acted according to its negative correlation is the consolidation of USD-JPY on high levels. However it is also just below its...

goldenBear88

Hello fellow traders! Gold went down 10 Dollars which makes me sure even more that we are heading to #1,180.30 as announced in my previous posts. Scalped few excellent profits these 6 bearish months. Congrats who followed me! I have resumed shorting Gold as Hourly 5 chart is already forming a reversal pattern. With DX on successive Higher Lows Daily chart, my Take...

goldenBear88

Hello fellow traders! Booked 19th profit in a row, Take profit 2 # 1,198.30 hit as the price aggressively broke through every support level on Hourly chart. The Daily channel also broke downwards and the Weekly Higher Low trend line that supported the recent uptrend was also crossed at #1,199, restoring the bearish action on Weekly chart. My final Take profit...

goldenBear88

Hello fellow traders! After continuation posts, I've booked 18th profit on Short positions on Gold which was #1,207.40, check my post history for accuracy. Again, Take profit # 1,207.40 hit as the, as we can see on Daily chart, is expanding towards a new Lower Low near #1,205.25. The week is closing on -1.75% in losses, the second straight red candle, which is...