By watch the DXY chart for over 2 week i came up with the prediction that this pair will go to 1405.00 before going up to 1500.00
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on the xauusd the day chart has an engulfing red candle, then i watched the 5min all day i notice a resistance rejection at 1425.13 happened 5-7 times. Also im looking at this engulfing candle on the 1h after the US session closed. I also drew a trend line on the 1H from 1446.80 to 1424.49 where it did not break n pushed back down.
Thanks. It would be better for you to draw this flag on your charts, so we can seevwhere you are coming from, rather than just your conclusion. I also see a flag on the day chart which looked like it was breaking out a day or two ago. The lack of a follow on spike and lack of consolidation above $1450 is worrying for bulls. There must have been a gold miner selling unlimited amounts to put a cap at $1425. I like the -pause as it could take months for me to buy gold for all my clients. Now is the stockpiling phase before gold rises to higher trading ranges.
rbphoto90
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@Trickyt57, i just found out how to publish. Next time ill draw my trading view chart like my mt4 chart.
Swiss_Expert
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Were you reading your tealeaves, or can you see some tehnical indicator in the chart that you would like to share with us?
rbphoto90
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@Trickyt57, on the xauusd the day chart has an engulfing red candle, then i watched the 5min all day i notice a resistance rejection at 1425.13 happened 5-7 times. Also im looking at this engulfing candle on the 1h after the US session closed. I also drew a trend line on the 1H from 1446.80 to 1424.49 where it did not break n pushed back down.