Closing my order in Profit / #102 Profits row

10 gru

As discussed throughout my yesterday's session commentary: "My position: As my Neutral Rectangle (Trading zone) is invalidated, #2,657.80 break-out may stall near #2,662.80 Resistance in extension. If #2,662.80 gets invalidated, Bullish Short-term bias is restored and I will Buy Gold on spot. However if #2,652.80 benchmark gives away, #2,632.80 - #2,652.80 represents new / old Trading zone."


I have announced my break-out points and engaged Buying order on #2,662.80 Resistance / closed it on #2,674.80 with fine #12-point Profit extending my results range to #102 Profits and #20 Stop hits from December #2023 - December #2024.


Technical analysis: My overall analysis was spot on regarding Short-term Bullish trend restored as Target group was hit but on the same time the Long batch was initiated with #2,682.80 Resistance in extension as an most viable Target. I see increasing wall of Resistances within #2,672.80 - #2,682.80 zone on Hourly 4 chart so I took the profit earlier at #2,674.80 for #50% of the lot (rest on initial Target of #2,682.80). The volume remains very High so these upside attempts are vulnerable to aggregated Profit Taking which may stall the uptrend.


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.