Closing my both Set of Sells with excellent Profits

13 במרץ 2020

I have concluded my Selling (from #,1675 to #1,600.70) as my both Targets were met and I booked huge Profits on this Bearish leg. Gold was approaching the #1,605.70 psychological barrier on spot prices as I expected it to be realized before today on this Bearish leg. Despite the fact that DX is still on a Long term Channel Up and Supported on Daily Chart, Gold was pushed lower (apart from the obvious Bonds Sell-off effect) as Usd-Jpy collapsed near its February Weekly low which added enormous Bearish pressure on Gold which I was expecting for the past few weeks. Historically last time Gold (spot) hit #1,605.70 on an downtrend it easily broke to #65$ down in continuation (#1,540.70 Monthly Support). Since weekend is near and I am more than happy with my already made Profits, I won't be engaging any Positions and will comfortably remain on sidelines - monitoring Gold and spotting new Profitable patterns. Who followed my Sell calls, Congrat's on great Profits and on patience you had to hold the Sells for decent period of time.