Closing my both Buying orders /#104 Profits row

12 gru

As discussed throughout my Thursday's session commentary: "My position: I have new Buy order engaged with #2,667.80 entry point / optimal Target remains #2,682.80 Resistance in extension. If #2,682.80 gives away and market closes above, #2,700.80 benchmark will represent Target to monitor."


I have engaged first Buying order on #2,667.80 and closed on #2,682.80 Resistance. Second Buying order I have engaged on #2,683.80 and closed on #2,697.80 deliver excellent Profit. And on #2,700.80 benchmark break aftermath (and CPI results), I have engaged final Buying order on #2,702.80 and closed on #2,718.80 which delivered spectacular results as I am currently without any orders. I will use this chance to congratulate Traders who followed my calls and had patience to re-Buy every High's, well done!


Technical / Fundamental analysis: Gold has gone into Intra-day Buying rally and having been slightly disconnected on it’s Technical background correlation with DX, Bond Yields are Trading near local High’s (Bullish Gap fill) which is a mix which pushed Gold north and invalidated Selling potential once Symmetrical Triangle got invalidated to the upside. Sellers have once again underestimated the Bullish Fundamental potential of reversal of the recent Selling leg as Gold’s Price-action is isolated within healthy Ascending Channel on most of the charts. As long as aggressive Volatility lasts and Middle East escalations, and the probability of doing so is High as December is projected to be Bullish Month for Gold even though December is Bull Month for DX as well. If by some / certain intervention DX start trending downwards, uptrend on Gold will be stalled most likely but for now Buying benchmark is #2,727.80 and should probably be next Gold’s most viable Target if DX don't deliver new full bodied green candle.


My position: I am currently on sidelines, waiting new signal to Trade Gold however the Trade remains "Buy the dip" and I do not believe that there will be any meaningful correction on Gold, at least for current session.