Engaging my Selling order calling for #1,750.80 extension

Gold's general commentary: New Low of #1,778.80 (also was a Support) is broken as Hourly 4 chart is assuming control of the downtrend on a smaller scale with Daily chart still not becoming Oversold. This may suggest that the Channel Down requires consolidation before it moves Lower with a rejection near #1,795.80 happened throughout last week. In any case, Friday’s Daily candle was so strong that it erased #50% of the gains of the previous #2. This has put Weekly chart back on Bearish track and with DX breaking above #91.60, I can't see how Gold can protect the #1,747.80 level for much longer, unless the Bond Yields have a strong pullback (unlikely). Despite being within an Hourly 4 chart’s Rectangle, Gold is purely responding to the Fundamentals of the Yields that is on High speculation ahead of the Biden’s spending note. Fundamentally, if there are no further surprises Investors should seek to offload the Selling orders near the #1,780's ultimate Top. This also confirms to the Long-term Bearish trend of Gold, the bottom of which I don't believe Gold still reached on Yearly fractal, and the Bullish projection of the DX with further Fed tapering. I expect Selling accumulation until the late hours of the U.S. session (probably around #1,780's followed by a sharp Bearish takedown towards #1,760.80 Support variance).


Technical analysis: Volatile Price-action towards market closing throughout Friday's session, especially on Hourly 1 chart, as in the absence of high impact macroeconomic reports, Gold is inside a range on the last three Hourly 1 candles. Notice how this is taking place exactly near the Resistance fractal (#1,780.80 - #1,890.80). This can only break if U.S. prepare new Fed tapering and news hit the market (failed negotiations regarding Biden’s spending). As long as Gold stay below #1,800.80 configuration, the Short-term bias is Bearish towards the Hourly 4 Support Trading at #1,766.80. If #1,800.80 breaks, I most likely have a Bullish break-out signal towards #1,813.80 (less likely). I will Trade accordingly but will not take excessive risks as current Trading week can be identical as current one, without much action as I may not have high impact geopolitical news. Historically, #1,780’s is the strongest Selling accumulation and turning point from May's Low's, and I don’t see why it shouldn’t be the case at the moment. My opinion is that I've drawn the best out of the current Price-action.


My position: As I am not interested in Buying Gold on both Short and Medium-term, therefore I engaged my Selling order on #1,778.80, calling for #1,747.80 extension. My Stop-loss is set a bit wider since my margin allows, as I am on #13 Profits row and #2 Stop-loss hits regarding May - June fractal. I am expecting aggressive Selling sequence on Gold within #1 session (if Yields remain above Lower High configuration).