this is based on my post dated Jan 11th (GOLD vs USD/JPY - daily) but 4hours. Here is the link:
At A) Gold is encountering resistence. USD/JPY bounced and took the distance from A) on Jan 3rd.
The A) of USD/JPY was formed at the same level of Y) whilst the A) on Gold was formed below Y).
I don't know if Gold will ever reach Y). At the moment it stopped just below 1300.
Below the movements made by 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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If you want to follow how the move unfolds on USD/JPY here is the link: