Hi Guys,
this is just a follow up of a previous work. I use DXY to trade GOLD in correlation with USD/JPY.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
this is just a follow up of a previous work. I use DXY to trade GOLD in correlation with USD/JPY.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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Ok. Today's candlestick retraces 0.618 of Wednesday's candlestick. In between we had Powell speach (dovish), FOMC minutes (awkish), other FED directors comments (awkish and dovish) and as dessert the G20 meeting starting today.
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Price closes right on 0.618
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POWELL: "NO PRESET POLICY PATH, RATES `JUST BELOW' NEUTRAL RANGE". This is the statement that is supposed to have moved the market. This was seen as a recognition by the Fed of the risks to the stock market caused by their tightening policies and the U.S.-China trade dispute, and was the FIRST HINT that the Fed was considering pausing their program of rate hikes. Powell made the first statement in this respect after 2:09 minutes from the beginning of his speach. The drop in price commenced right at 18:00 and don't think Powell speach commenced earlier than scheduled.
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By the way...
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For information in respect of Diamond Bottoms here is a link: thepatternsite.com/diamondb.html
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This should be the ZigZag forming:
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But if make a 4th and a 5th adios ZigZag
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