Ensof0112

GOLD/YEN Perspective

GLD/FXY  
GLD/FXY  
60 0 0
Selling yen to buy gold             (instead of using US$) has been a much better strategy if you wanted to be Long gold             .
If you notice since 2011 the price of Gold             in terms of Yen has not had as much draw down (still in a large range) whereas gold             prices in terms of US$ have collapsed since 2011.
Price is at long-term channel support but there is a potential H&S which when confirmed would lead to much lower prices for gold             .
I am going to initiate a long/short position in gold             in the coming weeks/months and I will be using this chart to find a strategic zone to buy. XAU/USD             chart is a mess.
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