Neutral Rectangle preservedAs discussed throughout my yesterday's session commentary: "My position: Gold is Neutral Rectangle and keep #2,652.80 as your reversal zone and ideal re-Sell entry point. If #2,627.80 Support gets invalidated, I will pursue #2,600.80 benchmark in extension. I will Trade the break-out."
I have engaged re-Sell order as discussed above on #2,649.80 which hit my #2,653.80 Stop within minutes. I have waited another chance to re-Sell Gold however Gold extended recovery above #2,657.80 first Resistance which left me without an order waiting for ISM numbers. On pre-ISM candles, I have engaged Selling order and closed it with #9-point Profit near #2,652.80 benchmark. When #2,652.80 got invalidated, I have engaged new re-Sell order on #2,650.80 and moved the Stop on breakeven expecting #2,636.80 Support in extension to be met, however Price-action touched #2,642.80 and reversed towards my breakeven Stop and left me without any orders for yesterday's session.
My position: Even though DX reversed and found Support zone, Gold is Trading under Intra-day Buying pressure as sentiment is changing on Intra-day basis. I give more probabilities to the upside since #2,652.80 benchmark got invalidated to the upside many times with relative ease which was my pivot point for the fractal. If #2,662.80 gets invalidated #2,667.80 is next extension so place your Buying orders accordingly.
