khansalarehsan
Short

GOLD Short based on the correlation with stocks

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Here is a trade based on correlations.
GOLD and NIKKEI are negatively correlated, Also Gold and USDJPY are negatively correlated too. (see correlation coefficient indicator in the chart) Therefore if you think NIKKEI may possibly be rising, then GOLD has more downside pressure from stocks.
In the last two posts I believed US stocks may rise, hence GOLD may fall. Also watch swing highs on GOLD RSI on 4 hours Timeframe. It makes consecutive lower lows.

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