Here's the inverted scale on the previous chart which I posted for you all, providing another angle on the market. Gold has tapped into our POI for sells and so far rejecting. Let's see if this huge move can play out!
I've been buying XAUUSD since prices been at early $1,600's. Is it time for a reversal? It's not impossible.
Gold is extremely overbought & moving in positive correlation with the DXY which is unlikely. I am expecting the Dollar to carry on climbing up, which can put an end to Gold's rally. Let's see what happens. I'll be looking to hedge my buy positions with sells.
I've been buying XAUUSD since prices been at early $1,600's. Is it time for a reversal? It's not impossible.
Gold is extremely overbought & moving in positive correlation with the DXY which is unlikely. I am expecting the Dollar to carry on climbing up, which can put an end to Gold's rally. Let's see what happens. I'll be looking to hedge my buy positions with sells.
