Hi Guys,
Looking for opportunities using inverted correlations between Gold and USD/JPY.
The idea is that when US dollar weakens, money flows into safe heavens like Gold and Japanese Yen and this is why their moves are inversely correlated.
In the above scenario, when the pair made A on Jan 3rd (a clear bottom), Gold made A (a potential top). Gold ranged between 1298 and 1275 for 2 weeks and now seems overtaking A looking for an A higher than 1300. Be careful that this does not mean that USD/JPY will go lower than 105 (Y). It just means that from B USD/JPY may come back a little bit. It depends if Gold moves higherr than 1300.
This post is a follow up of an idea posted on Jan 11 and already updated on Jan 16 (links to related ideas below).
Here is the link to the moves made by Gold.
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. CozzamaraDaZena is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Looking for opportunities using inverted correlations between Gold and USD/JPY.
The idea is that when US dollar weakens, money flows into safe heavens like Gold and Japanese Yen and this is why their moves are inversely correlated.
In the above scenario, when the pair made A on Jan 3rd (a clear bottom), Gold made A (a potential top). Gold ranged between 1298 and 1275 for 2 weeks and now seems overtaking A looking for an A higher than 1300. Be careful that this does not mean that USD/JPY will go lower than 105 (Y). It just means that from B USD/JPY may come back a little bit. It depends if Gold moves higherr than 1300.
This post is a follow up of an idea posted on Jan 11 and already updated on Jan 16 (links to related ideas below).
Here is the link to the moves made by Gold.
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. CozzamaraDaZena is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
