As expected the Hourly 4 chart #1,708.80 rejected the Price-action on multiple occasions and the Support zone #1,695.80 has been met and is still being tested but so far holds as the strong Support currently. Gold is trading within my planned values and keep in mind that engaging current set of Sells was a bit to early, but I wanted to be sure not to miss a Support break/breakout to lower levels. Hourly 4 chart Channel Down is still not broken, and with Spinning Top candlestick formation, I doubt I will see quiet a Selling session today, I may have to wait #2 sessions of ranged movements and then downtrend to second strong Support on #1,675.80 sequence. Expect a Volatile sessions ahead with Higher Lows and Lower Highs tests, but on a Medium/Long term, Gold is surely Bearish. What happens next largely depends also on the anticipation of Stock markets movement and is going in my favor (Bull Gap (following Bearish one) fill which made me enter the market). If #1,675.80 is broken, #1,647.80 is the next extension. As I highlighted, Gold is on a mini-Channel Down and confirms my outlook. My Selling bias is not changed as I will treat potential Bullish spikes as an oscillation from Overbought to Neutral (Williams%), which created new space for Bearish aggressive fall.
- 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.