As discussed throughout my yesterday's session commentary: "My position: #2,866.80 is the Price of now and it is not worth entering. Gold can still turn both ways however if #2,852.80 benchmark gets invalidated and DX continues the Bull run, I will Sell Gold on Spot and pursue #2,827.80 Support in extension. I will continue Buying Gold only if market closes above #2,852.80 benchmark."
I have waited for #2,870.80 Stop-hunt and engaged my re-Sell order on #2,870.80 with Stop on #2,882.80 Resistance in extension, luckily Gold instantly started the decline as I was confident that #2,852.80 benchmark will be tested as I have closed my Selling order there (#2,870.80 - #2,852.80) however Gold delivered even stronger decline however I have closed my order earlier (no need for additional Risk).
My position: Gold will most likely continue with ranged candles (classic Price-action fluctuation) ahead of NFP numbers ahead throughout the session. On NFP, I do expect slight upside reading numbers but not more than #200k. Best move I can do is to re-Sell Gold as Higher as I can ahead of NFP numbers and if numbers deliver upside reading, keep my order. If however NFP deliver downside surprise, close my order immediately and call it for the session. My Profit range is excellent as I don't need to allow myself additional Risk on weekly end.
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- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
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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.