Gold tested my Medium-term Target of #1,852.80

As discussed throughout my December #27 commentary: "My position: Even though many Traders expected Selling sequence to continue since #1,792.80 was invalidated, my estimations were showing different configuration and my re-Buy zone worked perfectly. My Buying order is delivering excellent result at the moment and I will hold my order since I do believe that #1,825.80 - #1,827.80 Higher High's zone might be tested. My practical suggestion for Short-term Traders is to keep taking advantage of the Volatility."


After much needed break and New Year vacations I have announced then which took place, it feels excellent to start Trading again. I have closed order above (#1,800.80 - #1,822.80) on a fine #22 point Profits (finished the Year on great manner) and extended my results range to #46 Profits and #11 Stop-loss hits regarding April - January cycle. I will use this chance to congratulate Traders who followed my Annual Trades, plenty more to come!


Technical analysis: Gold was once again used as a safe-haven amongst geopolitical tensions surrounding Trade tension problematic, as the Price-action aggressively soared towards #1,852.80 psychological benchmark (I have announced this possibility many times throughout my remarks), this is a Fundamental reaction and goes against the Technical correlation with DX, which as expected tested its Hourly 4 chart Support zone (note the possibility of Death Cross forming on DX's chart). Gold's fair value would be around #1,800.80 local Low's according to that correlation. Still the #1,852.80 - #1,862.80 Weekly (#1W) Top, is a Higher High's on the Daily chart's Ascending Channel, providing more comfortable Selling position to await. Always remember to stay on trend by identifying non-Technical fluctuations based on correlating instruments that can provide great Trading opportunities. I spotted the fractal with many similarities lot's of times before (one of the examples is during the Fed rate hike on #2017). Throughout whole December's configuration, Traders witnessed how Fundamentals can momentarily distort Technical trends, as a seemingly Bearish Daily chart's candle closed positive, hitting Stop-losses for Traders which didn't Bought the market (just like I did). However, keep in mind that on every Fundamental catalyst reaction - the more Price rises, the steeper the fall will be (or vice-versa). Bullish Daily chart's trend of Ascending Channel still weighs but on predominantly Bullish bias, since Gold is still above the #1,827.80 - #1,832.80 High Volatility variance. If my Weekly regressional analysis is correct on a future Bearish Weekly candle succession, then maximum on Gold should not Trade above #1,862.80 - #1,872.80, however it is still early to mention above levels.


My position: Since current session is my first Trading day after vacations and my both Short-term (one above mentioned) and Long-term (#1,852.80) Buying orders delivered spectacular results, I will await new pattern, at least for current session. Expect my commentary rate as normal from today.