Incoming DXY strength from rd3 of the US Stimulus!
Liquidating from 1800 all the way to 1680 we saw a 1 way down turn, BUT GOLD has gained support and looked to test 1740 which it failed the 1st test. This high 1720 area may look to test 1740 impulsively but I do not think it will last.
the DXY strength is not going to last forever just long enough to get the Best Buy in on this 2K gold at 1600s... Gold could further dip and that would allude to the passing of the safe haven torch of GOLD to BTC.
If Gold tanks under 1600s floor look to see all cryptos rise!
IF gold close over 1740-1755 look to test 1800 within 72 hrs.
1714 safe entry for gold short*
TP1: 1693
tp2:1677
Liquidating from 1800 all the way to 1680 we saw a 1 way down turn, BUT GOLD has gained support and looked to test 1740 which it failed the 1st test. This high 1720 area may look to test 1740 impulsively but I do not think it will last.
the DXY strength is not going to last forever just long enough to get the Best Buy in on this 2K gold at 1600s... Gold could further dip and that would allude to the passing of the safe haven torch of GOLD to BTC.
If Gold tanks under 1600s floor look to see all cryptos rise!
IF gold close over 1740-1755 look to test 1800 within 72 hrs.
1714 safe entry for gold short*
TP1: 1693
tp2:1677
1740-1733 consolidation box testing downward.
support at 1720. If candle close under 1725 looking for 1714.9 entry