liamcambra

Gold Already Moving to the All-Time-High - XAUWCU leading XAUUSD

Long
FX_IDC:XAUWCU   GOLD / WORLD CURRENCY UNIT
After discovering the World Currency Unit (WCU), essentially a basket of GDP-weighted currencies, and looking into how it was calculated, I realized it would likely serve as a better indicator of the Real Value of Gold & Silver .

I've been following this exact chart for a while now; Very interesting how well it's lining up with fib levels, as you can see. I've noticed that almost every unexpected Bull/Bear move that has had no obvious cause (due to news, or technicals on XAUUSD ) did have an obvious technical cause on XAUWCU.

For example, when considering when Gold broke out of the long term downward trend from the 2011 top:
  • XAUUSD: Jan. 25, 2019
  • XAUWCU: Dec. 17, 2018

Additionally, when considering when Gold broke out of the long term horizontal resistance dating back to 2013:
  • XAUUSD: June 18, 2019
  • XAUWCU: as early as June 7, 2018 and backtesting while it waited for XAUUSD to break out.

Comments

Are you still long on GDX?
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liamcambra JonathanMcBrine
@JonathanMcBrine, just sold.
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