XAUUSD further rise. My starting point is that if the corrections are doubled (yellow rectangle) and during this time doubling within the ATR closures (white rectangle), the amplitude of the fractal wave sequence will also double. This is one of the most basic rules of fractal theory. If this theory continues, I do not expect any further reduction. Consequently, I am looking forward to the bottom of the falling level by 1566usd. I see a north turn from this level again. Based on previous analyzes, target prices already indicated.
Is the hipotetical XAU rally going to support BTC rise?
meszaros
⋅
@mike1244321, This is a very good question. For months, there was divergence in the movement of bitcoin and gold. It is likely that both could gain strength simultaneously if the dollar were to weaken.
@meszaros, Ive been looking at this GOLD sell-off but the volume is weaking too. We are now at 1573. Do you expect a rise from there... of will it further lose some grounds? RSI is also at around 30... is that also a good indicator...?
meszaros
⋅
@XianVisda, I've calculated the gold correction band for you. The correction ATR distance is very low. As long as gold is in this band, I can say that it's making a natural correction. You can keep an eye on it, but stay calm for the time being. In the event that you fall out of this zone to the south, you should start reducing your risk.
XianVisda
⋅
@meszaros, it is a wide range! but still your theory is valid. so... wil likely hold my buys. I'm still eyeing for that 1611.