Trading Gold By Looking at EUR

FX:XAUUSD   Gold Spot / U.S. Dollar
6819 38
Trading Gold By Looking at EUR
This is a special strategy that to be use to trade
some pairs with very strong correlation

Gold Didnt make new high when EUR made
However Now Gold has just create new high
But look at EURUSD! it falls!

Therefore we simply short Gold and make a quick profit
Comment: This is a X'mas Gift from market. instant 50 pips
Comment: Its already 3 : 1 rr ratio. which means if you risk 200, u can 600 and u can close half when I say TP 1 hit. now even the other half hit SL, u still made 300-100= 200 usd
Take care guys, the way for gold is upwarts by the trend. This was a short period of time of going short. Next week, the gold will go up for 1262.
+2 Reply
Good profit... now?
do you think it will dip further to 1244-1248?
Both affected by the Dollar index, so they look similar in short range.
if this is true it didnt start Since OCT 2018. I looked way back and no correlation the last 5 days they have seem to trade the same on all different time frames. HMMM it used to be with USD/jpy. And this year was following Chinese Yuan.
That's interesting. What is the fundamental reason behind this correlation. Is there a connection between the eur and gold or is it more about the usd relationship with gold?
+1 Reply
Thanks for sharing.
1170= trendline and 50 sma on weekly
another X'mas Gift from market: DJI breaks 23000.............
+1 Reply
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