Description
⋅ XAUUSD on a 120-minute chart is showing moving averages slowly converging into deth crosses
and the dual time frame RSI indicator of Chris Moody forecasted the move with bearish
divergence starting March 8th. I have closed my long positions in gold and silver and crossed
the aisle to take short positions . My target for XAUUSD is down to 2085 which is the middle
of the Fibonacci level from the prior uptrend. A predictive model based on Gaussian regression
lines by Luxalgo is showing a blue downtrending line for the remainder of the week with a
potential hihg pivot from which to take the short entry tomorrow.
Trade active
⋅ Spot gold more or less sideways. Short entry taken mid-day. Trade active
⋅ Comment
⋅ More of a drop as expecte more due to rising dollar than gold value. Fed news could
impact on Friday.
Comment
⋅ Friday is here and gold relative to USD falling another 0.75%
Comment
⋅ Comment
⋅ Comment
⋅ Spot Gold more or less sideways in a narrow triangle with a failed brekout higher
now with geopolitical risk at the front of it.