Closing my Sell with huge Profits / #17 Profits row / Sell again
As I suggested on my yesterday's post (September #22):" Gold is surely a Sell option and if Price-action breaks the semi-Support (#1,894.80), I won't hesitate to engage strong set of Sell orders calling for #1,882.80 Lower Low." I have closed my set of Sell orders with huge Profits, as it represents #17 Profits in a row with only #2 Stop-loss hits regarding August-September cycle. Congrat's to Traders who followed my yesterday's call.
Another strong decline on early E.U. opening, Daily candle (# -0.72% so far) with Bearish sentiment on Medium-term, as I won’t be surprised to see Gold piercing the Lower Low again with #1,864.80 extension. I expect Neutral candles before an aggressive gap fill below #1,877.80 Support. Stock markets are on the #2nd straight Bull candle, applying heavy Selling pressure on Gold, but the most important Bearish factor at the moment is the constant pressure on global geopolitics (Trade war positive developments, Fed rate) aswell as Cogress being far away from new Monetary stimulus launch - all those developments are Bearish for Gold on both Short and Medium-term, which cause safe assets (Gold) to lose and Stock markets to gain as Investors are pursuing riskier assets to park their capital. This shows how overpriced Gold was due to these Fundamental tensions during this most recent Bearish leg, and after needed correction, is ready for a new decline. The Medium-term Technical trend has assumed control from the Fundamentals as despite this week’s reports missed their estimates, Stock markets are Trading near the Resistance. Daily chart turned fully Bearish while Monthly chart is not Overbought anymore. Despite few bucks correction rise, Gold was on a tight Lower Low range today as the Price-action is absorbing conflicting pressures by the rising Stock markets and indecision candles Bond notes. The result is this tight balance you see today. Much will depend on the trade war developments but the underlying trend remains fully Bearish, and as long as #MA50 is preserved on Daily chart, Bullish outlook is far away. Personally, I am expecting mini Bearish action as U.S. opening starts. Gold almost hit the new #1,876.80 Support calling for furthest extension, but rebounded strongly as a correction against the indecision on the Bond notes. I am looking at the Daily chart and it is a textbook Trading (symmetrical candles) which has a Resistance at #1,900.80, so it should deflate soon. Stock markets are Trading near Resistance, and as long as it lasts - Gold is a Sell option. Since Lower Low is broken, I will pursue again Lower targets with my new #1,864.80 Target.
Another strong decline on early E.U. opening, Daily candle (# -0.72% so far) with Bearish sentiment on Medium-term, as I won’t be surprised to see Gold piercing the Lower Low again with #1,864.80 extension. I expect Neutral candles before an aggressive gap fill below #1,877.80 Support. Stock markets are on the #2nd straight Bull candle, applying heavy Selling pressure on Gold, but the most important Bearish factor at the moment is the constant pressure on global geopolitics (Trade war positive developments, Fed rate) aswell as Cogress being far away from new Monetary stimulus launch - all those developments are Bearish for Gold on both Short and Medium-term, which cause safe assets (Gold) to lose and Stock markets to gain as Investors are pursuing riskier assets to park their capital. This shows how overpriced Gold was due to these Fundamental tensions during this most recent Bearish leg, and after needed correction, is ready for a new decline. The Medium-term Technical trend has assumed control from the Fundamentals as despite this week’s reports missed their estimates, Stock markets are Trading near the Resistance. Daily chart turned fully Bearish while Monthly chart is not Overbought anymore. Despite few bucks correction rise, Gold was on a tight Lower Low range today as the Price-action is absorbing conflicting pressures by the rising Stock markets and indecision candles Bond notes. The result is this tight balance you see today. Much will depend on the trade war developments but the underlying trend remains fully Bearish, and as long as #MA50 is preserved on Daily chart, Bullish outlook is far away. Personally, I am expecting mini Bearish action as U.S. opening starts. Gold almost hit the new #1,876.80 Support calling for furthest extension, but rebounded strongly as a correction against the indecision on the Bond notes. I am looking at the Daily chart and it is a textbook Trading (symmetrical candles) which has a Resistance at #1,900.80, so it should deflate soon. Stock markets are Trading near Resistance, and as long as it lasts - Gold is a Sell option. Since Lower Low is broken, I will pursue again Lower targets with my new #1,864.80 Target.
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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.
- 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.
