Technical analysis: No strong Bullish impulse regarding yesterday's U.S. session opening, as Gold didn’t extended recovery candles and finally invalidated both Resistances in one hit / try (I cannot treat #3,382.80 as an breakout since strong Volatility Gold is Trading under). This is a typical sign that the market should continue consolidating, waiting for a catalyst to extend Buying motion. Since Gold is Buying every Bottom since #2023 Year as fractal which is repeated #3 times statistically, every variance that Gold repeats #3 times or more, it becomes a cycle which every Gold Trader should take into consideration. As Fed commentary usually arise Buyers on the aftermath - Gold continues the Buying sentiment, engages the consolidation Rectangle (lately #5-session consecutive run of #20 point Trading on average), then engages the steeper decline. Regarding all mentioned above, I can expect Trading to be performed above #3,377.80 - #3,382.80 hard Resistance zone where Gold can engage the consolidation Rectangle above (Stabilization area as I prefer calling it), and then again deliver Lower High’s extension once local High's are Priced in. Fundamentally, the Risk-off sentiment that DX Investors had these past few sessions should fade away after this result as Investors will remove capital from riskier assets such as DX and Bond Yields, and can go back to safe-haven metals such as Gold with confidence. Meaning that if DX continues to lose value after NFP debacle, Bond Yields should benefit along with the Stock markets, which can kick-start the Buying sequence on Gold, and vice-versa.
My position: I will keep Buying every dip on Gold from my key entry points / #3,357.80 is one of them expecting final push above the Resistance zone towards #3,400.80 benchmark.
My position: I will keep Buying every dip on Gold from my key entry points / #3,357.80 is one of them expecting final push above the Resistance zone towards #3,400.80 benchmark.
- 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'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
- 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'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.