Both Selling orders intact / #1,900.80 on aim
As discussed throughout my yesterday's session commentary: "My position: As I do expect hawkish stance tonight, my #1,930.80 entry point Selling order is active as I will add more Selling orders ahead of Fed's event tonight. I do expect DX to skyrocket and #1,900.80 benchmark test on Gold ahead."
My #1,930.80 order triggered #1,942.80 Stop-loss however I have re-Sold again with #1,942.80 first re-Sell and #1,937.80 second re-Sell point, both Targets running in excellent Profits.
Fundamental analysis: Finally first signs of eminent correction are appearing as Gold remains Bearish with Fed and Powell's speech signal hesitance toward the restrictive monetary policy. The reason could be linked to the latest statements from U.S. Treasury Secretary Janet Yellen who signaled U.S. soft landing and backed the policy hawks. It is noteworthy to mention that is an clear signal to lift the Rates one more time in #2023 and refrain from cutting them soon will add strength to the Gold's Bearish bias and can well break the #1,922.80 Support which in turn opens the door #1,900.80 benchmark test. #1,900.80 benchmark test looks very likely according to my estimations Fed delivered my expected sentiment (Rate unchanged and hawkish stance) which skyrocketed DX as per my yesterday's analysis.
Technical analysis: The Price-action was detached from #4-session range on the previous Hourly 4 chart's Selling candlestick formation possibly setting the tone for the session. The Selling Volume however needs to be increased and other than that, Price-action is Trading on the same pattern / the neckline of the Head and Shoulders however the relief rally has extended for far too long. A breakout downwards in form of a correction is expected to continue shortly as I remain Bearish under current Neutral Hourly 4 chart's setting which is under heavy Selling pressure from DX on local High's.
My position: Gold rarely leave Bears empty handed and time has come to repay all unfair gains from recent sessions. My both orders are running in spectacular Profit after hitting #2-consecutive Stop-losses from #1,912.80 and #1,930.80. Keep in mind that my Selling orders are not that strong (in Volume) in Fundamentally driven / Bullish reversals as those in Bearish cycles. My analysis is based on Bearish takedowns and is modeled within those. #1,900.90 benchmark can be realized within #3-session horizon.
My #1,930.80 order triggered #1,942.80 Stop-loss however I have re-Sold again with #1,942.80 first re-Sell and #1,937.80 second re-Sell point, both Targets running in excellent Profits.
Fundamental analysis: Finally first signs of eminent correction are appearing as Gold remains Bearish with Fed and Powell's speech signal hesitance toward the restrictive monetary policy. The reason could be linked to the latest statements from U.S. Treasury Secretary Janet Yellen who signaled U.S. soft landing and backed the policy hawks. It is noteworthy to mention that is an clear signal to lift the Rates one more time in #2023 and refrain from cutting them soon will add strength to the Gold's Bearish bias and can well break the #1,922.80 Support which in turn opens the door #1,900.80 benchmark test. #1,900.80 benchmark test looks very likely according to my estimations Fed delivered my expected sentiment (Rate unchanged and hawkish stance) which skyrocketed DX as per my yesterday's analysis.
Technical analysis: The Price-action was detached from #4-session range on the previous Hourly 4 chart's Selling candlestick formation possibly setting the tone for the session. The Selling Volume however needs to be increased and other than that, Price-action is Trading on the same pattern / the neckline of the Head and Shoulders however the relief rally has extended for far too long. A breakout downwards in form of a correction is expected to continue shortly as I remain Bearish under current Neutral Hourly 4 chart's setting which is under heavy Selling pressure from DX on local High's.
My position: Gold rarely leave Bears empty handed and time has come to repay all unfair gains from recent sessions. My both orders are running in spectacular Profit after hitting #2-consecutive Stop-losses from #1,912.80 and #1,930.80. Keep in mind that my Selling orders are not that strong (in Volume) in Fundamentally driven / Bullish reversals as those in Bearish cycles. My analysis is based on Bearish takedowns and is modeled within those. #1,900.90 benchmark can be realized within #3-session horizon.
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- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.