Yields on strong recovery / Gold still on Selling momentum

Technical analysis: E.U. session delivered correction towards Lower High Lower zone again as DX pulled back and with the Yields market stabilizing, I can see further mini upside within few Hours (maximum till #1,871.80) which can deliver optimal / additional Selling opportunity early on on U.S. session opening (it was important to position myself before FOMC minutes). Like I said, Hourly 4 chart is still a Channel Down aiming at the #1,840.80 Higher Low Support. Short-term Traders can take on step at a time though, as I have calculated the next Lower Low upper zone seen Trading at #1,827.80. Price-action is supporting this whole move (defending the downtrend extension) at #1,854.80 - #1,858.80, and if broken can result in #1,827.80 Selling extension variance and #1,800.80 psychological barrier test on Medium-term. FOMC minutes are reported within #8-Hour time, so keep an eye. Remember that my analysis is based on Gold Spot numbers and not the Futures contract. Since #1,859.80 still holds, Price-action is within my model but if #1,871.80 Short-term Resistances gets invalidated; I might have upside momentum towards #1,877.80 (as mentioned on my yesterday’s commentary and break of Bearish Pennant formation), while if #1,854.80 breaks, I will take my chances (add more Selling orders) and with both positions pursue #1,840.80 configuration or less. With High level of patience and skill of recognizing candlestick formations, I have greatly increased the odds in my favor. FOMC minutes can push Yields upwards near the Lower High's Bullish extension on Weekly chart (#1W) which can add strong Selling pressure on Gold and engage the aggressive takedown towards Lower Low extension, my main point of interest which is giving confidence to Sellers.


My position: As I had needed confirmation, observing Yields chart on firm recovery / I engaged my Selling position throughout yesterday's session on #1,865.80 configuration, with my Stop-loss priced at #1,872.80 which is just few points above my entry. My Target is #1,840.80 Lower Low upper zone, and if #1,854.80 breaks, I will move my Stop-loss on breakeven on original position (will be decent Profit by then) and add one more Selling position towards #1,840.80. I will risk and keep my position even throughout FOMC minutes and take my chances, as I expect FOMC to skyrocket Yields.