PangBlood

Normalized Gold Chart

268 0 5
8 months ago
This is Gold             Normalized against the US dollar             in arbitrary units, which solely highlights the empirical strength of gold             and ignores the strength or weakness in the US dollar            

I have also used Heikin Ashi to eliminate whipsaws for better trend identification,
and I've also added a regular GOLD/Dollar line in the background (purple) for comparison

The purpose of this chart is to point out that the recent bounce in (Gold/USD) has more to do with USD being weak than GOLD             being strong.
This is an experimental method of objectively looking at the strength of GOLD             , good luck trading :D
8 months ago
Comment: Gold continues to trend lower, and the inherent strength of gold is also weakening
8 months ago
Comment: Despite continued weakness in the dollar, this hasn't stopped Gold from decreasing on a normalized scale. And it seems like the dollar weakness is the "only" factor preventing the bulls from full scale bleeding. Should the dollar strengthen, there will be much more downside

snapshot
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