As I stated #23 hours ago on my last post: "However, if Support of #1,955.80 gets broken, Gold should be calling for #1,937.80 extension." It was a great move to Trade the breakout, once the #1,955.80 got broken, I engaged my Selling order and booked decent Profits on (#1,955.80 - #1,939.80) Selling sequence which makes it #15 Profits in a row and only #2 Stop-loss hits (both not more than #11$).
Tricky session at the moment pointing to both Bearish and Bullish developments. Technically, Gold should be testing the #1,927.80 Support and offering steady Selling opportunity since Hourly 4 #MA50 is broken, regarding Fundamental side - Gold is Bullish since Fed Rate announcement reveals huge Buying pressure to Gold, on the aftermath. Since the Hourly 4 #MA50 didn't rejected the Price-action (and was holding from September #9), it wasn't Natural for Buyers to accumulate again and that is Gold Trading on a decline at the moment. My focus is on the Hourly 4 chart and as the Price-action didn't got rejected at #1,948.70, I give more probabilities to re-test the Support Technically. I treat this as a strong Support, if broken, there will be more Bearish bias on the Short-term as since the #1,982.70 High, Gold has clear Higher Low’s and Higher Highs on a descending RSI. If today's #1,927.80 Low breaks, I would expect a new Low on the Hourly 4 chart Support at #1,912.80. However, whenever Fed Rate remains unchanged, it turn out to be disastrous for DX and very Bullish for Gold, that will give Buyers more confidence to extend the rebound back to #1,972.80. So Technically, Gold is a Sell option, however regarding Fundamental side (unchanged Rate is Bullish for Gold) Gold is a Buy option. Personally, since Hourly 4 got broken, Gold should engage the decline, but I won't jump to new Position since today I have closed my Position (#15 Profits in a row) and would remain comfortably on sidelines. The Volatility is always high on the Fed Rate decision aftermath and should get even more aggressive, correlating assets at the moment are less important.
Tricky session at the moment pointing to both Bearish and Bullish developments. Technically, Gold should be testing the #1,927.80 Support and offering steady Selling opportunity since Hourly 4 #MA50 is broken, regarding Fundamental side - Gold is Bullish since Fed Rate announcement reveals huge Buying pressure to Gold, on the aftermath. Since the Hourly 4 #MA50 didn't rejected the Price-action (and was holding from September #9), it wasn't Natural for Buyers to accumulate again and that is Gold Trading on a decline at the moment. My focus is on the Hourly 4 chart and as the Price-action didn't got rejected at #1,948.70, I give more probabilities to re-test the Support Technically. I treat this as a strong Support, if broken, there will be more Bearish bias on the Short-term as since the #1,982.70 High, Gold has clear Higher Low’s and Higher Highs on a descending RSI. If today's #1,927.80 Low breaks, I would expect a new Low on the Hourly 4 chart Support at #1,912.80. However, whenever Fed Rate remains unchanged, it turn out to be disastrous for DX and very Bullish for Gold, that will give Buyers more confidence to extend the rebound back to #1,972.80. So Technically, Gold is a Sell option, however regarding Fundamental side (unchanged Rate is Bullish for Gold) Gold is a Buy option. Personally, since Hourly 4 got broken, Gold should engage the decline, but I won't jump to new Position since today I have closed my Position (#15 Profits in a row) and would remain comfortably on sidelines. The Volatility is always high on the Fed Rate decision aftermath and should get even more aggressive, correlating assets at the moment are less important.
- 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'.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
- 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'.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.