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As you can see gold is moving in an ascending channel from 22 nov. the correlation between gold and dxy is back. I expect the price to drop to tp1:1890, tp2:1870 and then around $1800.
There was also a bearish divergence on the h4 interval, we are heavily overbought on the daily, the same situation on the weekly. There was also an ascending wedge pattern with the target of 1890 so I am giving it a shot.
Good luck, trade safe
As you can see gold is moving in an ascending channel from 22 nov. the correlation between gold and dxy is back. I expect the price to drop to tp1:1890, tp2:1870 and then around $1800.
There was also a bearish divergence on the h4 interval, we are heavily overbought on the daily, the same situation on the weekly. There was also an ascending wedge pattern with the target of 1890 so I am giving it a shot.
Good luck, trade safe
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TriggeredNota
DXY chart, my viewTrade chiuso: obiettivo raggiunto
My DXY chart update Congratulation for all who fallowed.
Take care!
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Looks like channel did great job.Nota
Weekly update, I don't know the direction of xau, probably need some clearance with dxy and bonds. For now no position.
Take care.
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We are approaching resistance zone, I recommend no position over weekend, we can go both way. Trade safe
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quite long accumulation. are we going to break out. weekly point of viewNota
Chanel works great I bet on one more downward trendline touch. Take care.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.