Closing my set of Selling orders / #35 Profits
As discussed throughout my yesterday's session commentary: "My position: I have engaged Selling order throughout yesterday's session on #2,384.80 which hit my #2,392.80 Stop, immediately engaged re-Sell order on #2,393.80 and closed the order on #2,380.80 re-test, recovering the loss instantly. Later on, I have engaged another #2,392.80 Selling order which I have closed on #2,382.80 (delivering decent #10-point Profit) and engaged #2,392.80 Selling order few moments ago which is currently running in Profit. I will keep re-Selling Gold on mentioned area towards #2,352.80 psychological benchmark (Selling every spike Gold delivers)."
I have closed my final Selling order (#2,392.80 - #2,366.80) on a fine #26-point Profit extending my results range to #35 Profit and #6 Stop-loss hits regarding December - April's cycle. I will use this chance to congratulate Traders who followed my traditional re-Sell calls, well done!
Technical analysis: Gold is seen a moderate decline on today's Daily chart's candle differential (+ 0.77%), but since the Volume is not that High, I believe Selling (not a surprise anymore) is not sustainable (as shown historically). The #2,352.80 Low's (my precise Support zone) was achieved on Falling Three Methods and this is typically a Bearish continuation pattern. On Hourly 1 chart's terms this should mean that newly formed Ascending Channel will gradually extend Higher near #2,388.80 - #2,395.80 once again. I am still fully Bearish looking at the bigger picture of the Weekly chart's (#1W) patterns which both confine the price below #2,352.80 benchmark. Since mid-October, such consolidation phases resulted in a significant Bullish leg.
My position: Choppy Trading session so far however in absence of Sellers on the market which are Naturally very careful since Gold delivers abnormal Bullish spikes out of nowhere recently, #2,390's Resistance zone re-test remains very possible on Intra-day basis and if #2,400.80 benchmark rejects the Price-action, I will re-Sell Gold there. I am Highly satisfied with my Selling orders on current mega Bullish rally.
I have closed my final Selling order (#2,392.80 - #2,366.80) on a fine #26-point Profit extending my results range to #35 Profit and #6 Stop-loss hits regarding December - April's cycle. I will use this chance to congratulate Traders who followed my traditional re-Sell calls, well done!
Technical analysis: Gold is seen a moderate decline on today's Daily chart's candle differential (+ 0.77%), but since the Volume is not that High, I believe Selling (not a surprise anymore) is not sustainable (as shown historically). The #2,352.80 Low's (my precise Support zone) was achieved on Falling Three Methods and this is typically a Bearish continuation pattern. On Hourly 1 chart's terms this should mean that newly formed Ascending Channel will gradually extend Higher near #2,388.80 - #2,395.80 once again. I am still fully Bearish looking at the bigger picture of the Weekly chart's (#1W) patterns which both confine the price below #2,352.80 benchmark. Since mid-October, such consolidation phases resulted in a significant Bullish leg.
My position: Choppy Trading session so far however in absence of Sellers on the market which are Naturally very careful since Gold delivers abnormal Bullish spikes out of nowhere recently, #2,390's Resistance zone re-test remains very possible on Intra-day basis and if #2,400.80 benchmark rejects the Price-action, I will re-Sell Gold there. I am Highly satisfied with my Selling orders on current mega Bullish rally.
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- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.