OANDA:XAUUSD   Gold Spot / U.S. Dollar
Bonds are again pulling lower, adding Buying pressure for Gold (safe haven) but as mentioned on my previous reports, the biggest marker on the Short term is the DX , which is also pulling back towards #97.00. Stocks are on the small rise but that will have no impact on my outlook. Interestingly enough notice how today's rise on Gold ( Xau-Usd ) # +0.42% is inversely symmetrical to the decline on DX # -0.27% yesterday. That is why I have this as my strongest market at the moment. However since #97.00 is not far off, I expect Gold to make a top soon (in fact it hasn't even reached the #1,560.20 Hourly 4 Resistance). Daily chart remains in fact Neutral despite today's small rise. The Long term Bullish trend within the Channel Up is intact and should be seeing #1,560.80 first. This shows that big institutional capital speculate on the same strategy I apply, taking profits on Lows of the Channel Down, causing Bullish spikes, which they later Short. The #1,539.80 Low can be technically used as an entry for the #1,560.20 Resistance test. However, the Channel Down needs to drop drastically in order to keep the Bearish momentum sustainable (less likely), otherwise the candles get off the trend-lines channel and breaks the Resistances one-by-one which I am waiting for. My goal was to get on the correct side on the trend (Long term Bullish ) and trade Long term like I always do. This is translated into temporary minor movements, which will be overshadowed when the trend appears. Keep in mind that my approach is swing trading (Long term in positions) within quarterly cycles and my goal is identifying the correct trend for a longer period of time, even if it lags to a small extent.

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You are always the best boy👌👍
+1 Reply
@Behtariin, :D Appreciated!
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