Gold continues upside sequence / excellent ProfitsGoldOANDA:XAUUSDgoldenBear88As discussed throughout my yesterday's session commentary: 'Technical analysis: Gold was close to the important #4,392.80 Hourly 4 chart’s Resistance zone test as Price-action was rejected on #4,372.80 configuration I mentioned above in my recent commentary which shows how slow to reveal major move Gold has become (not taking Fundamental Buying pressure into account) and didn’t even engaged full scale recovery sequence / even though that Bond Yields are on relief rally without Bearish candle sequence and DX on constant local Low’s (DX however remains my main correlating instrument). If there wasn’t Bullish Yield related developments, Gold would be significantly Higher under the circumstances. Gold eventually honored the Resistance break on Yields and delivered Short-term Selling impulse, seen early on regarding yesterday's U.S. session, reversing again despite Tuesday’s late session rise, Bond Yields are seen Trading near their Weekly (#1W) Resistance zone - reveals an Bearish Short-term sentiment Gold is Trading under. Even though my Medium-term outlook remains critically Bullish based on fractal analysis of candle, I do expect a Short-term Neutral Rectangle Trading towards the Hourly 4 chart’s Support zone first as the Hourly setting were sitting in Overbought waters approaching the levels of December #27. Yet again, trendline is emerging on Daily chart and it is now a clash which side will prevail. My position: Selling #4,372.80 throughout yesterday's session was Trade of the day. I keep an eye on #4,302.80 benchmark which is holding as hard Support zone for the fractal, if it gives away I will Sell Gold on spot towards #4,292.80 and #4,282.80 in succession. However if Gold manages to deliver reversal to the upside, Buyers intent can face strong wall of Resistances ahead of #4,327.80 final zone for Bearish structure to hold, which if breaks can deliver #4,372.80 once again. #4,227.80 is seen Trading as Medium-term Support zone, if gives away Gold can once again re-visit #4,002.80 benchmark in extension. I will Trade the break-out.' My position: As expected, yesterday's session Daily candle closed above the #4,327.80 Resistance zone widely above both of the Daily chart’s MA’s, turning flat for the session (isolated within Ascending Channel) which later delivered my #4,372.80 extension (what I already announced that it will happen). That is a strong indication that the market is attempting to Price the Top there (temporary or not), which just so happens to be a Higher High’s Upper zone within Daily chart’s Ascending Channel. It is no surprise that today's Hourly 4 chart’s candle is attempting to engage Bearish sequence so far and since its on Bearish Technicals (invalidated Ascending Channel on lesser charts), I consider it the most optimal Buying entry for a Short-term uptrend back towards #4,452.80 benchmark (representing last week’s Low’s). Keep in mind that Gold’s Price-action is under strong Buying pressure since DX was losing with every Hourly candle, however don't be surprised if the market turns flat ahead of market closing even though DX maintained Selling momentum and continued the Trading on disappointing numbers. My position: I have closed my set of Buying orders engaged on #4,332.80 on candle confirmation closing my Buying orders on #4,367.80 extension which was filled Hour after #4,327.80 break-out to the upside and establishing Support zone there. #4,302.80 showcased strong durability which reversed Sellers intent upwards. I keep Buying Gold from my key entry points.