Closing my Buying order with Profit / #28 Profits run

2 ago 2022

As discussed throughout my yesterday's session commentary: "My position: I have engaged another Buying order with #1,762.80 as an entry point, as I have closed my Friday's session Buying order on breakeven since it didn't delivered any meaningful result. Typical Target for the sequence is #1,782.80 extension."


I have closed my Buying order (#1,762.80 - #1,774.80) on a fine #12 point Profit run, extending my results range to #28 Profits and #5 Stop-loss hits regarding April - August cycle. I will use this chance to congratulate Traders who followed my Intra-day call, well done.


Technical analysis Once again Fundamentals distorted Technical proper trend (Bullish) with expected aggressive Gap fill on DX below the #105.510 and Bond Yields (on spiral downtrend) which added huge Bullish pressure on Gold. With aggressive uptrend throughout yesterday's session E.U. opening which was later on stalled, Gold has continued Trading within Neutral layers on Daily chart, as today's session Neutral belt #1,764.80 - #1,774.80 represents a Lower High’s Upper zone extension and #1,752.80 barrier (last week’s High’s) represents Lower High’s Lower zone. This is a Natural Volatile response prior to such an important macro-Fundamental events and surely this is not Gold’s fair Technical value. DX was losing value with every Hourly candle and progressively should add Buying pressure on Gold. Important note: For Gold to obtain Bullish confirmation, it’s needed to see firm ground for it = #1,773.80 barrier break or #1,776.80 which is Trading above. I am expecting #1,782.80 test in addition within #2 sessions. Weekly candlestick pattern is showcasing anemic activity, where it is Highly difficult to determine an Intra-day trend. I will patiently await for the right moment to add more Longs. Trending Traders may follow last week’s losses correction which was Technically necessary, but Gold erased it with #2-Week recovery indicating elemental Bullish trend Price-action is Trading under. I was patiently awaiting suitable circumstances to engage my Buying order towards #1,782.80 Higher High’s Lower zone peak, and then Sell Gold towards #1,700.80 psychological mark. The more Gold rises, more aggressive decline will be.


My position: Even though it was a risky shot, I have decided not to close all my Buying orders and kept portion of them in order to pursue #1,782.80 extension. I am rest assured that if #1,782.80 breaks, Gold may fill #1,792.80 on Intra-day basis. As I announced on my remarks, this is undisputed Bullish trend on Gold.