Gold short, simple idea
מעודכן
Welcome
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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Triggeredהערה
DXY chart, my viewעסקה סגורה: היעד הושג
My DXY chart update Congratulation for all who fallowed.
Take care!
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Looks like channel did great job.הערה
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 viewהערה
Chanel works great I bet on one more downward trendline touch. Take care.
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