Watch XAUGBP on 1 Month when decide to buy GBPUSD Analyze related link for GBPUSD
This is an interesting chart. Gold priced in Pounds was rejected at the Hypotenuse resistance of a descending triangle, reflecting a bounce in the Pound. This is a bearish formation and indicates either a) incoming extreme Gold weakness, or b) a period of possible GBP strength. Since the fundamentals favor the Dollar, I am prepared to bet against its...
WE expect US dollar to fall and the bond market to be propped up to force money into stocks and push stocks higher If gold falls --> Dollar go up --> the whole world falls in terms of fiat purchasing power --> Chaos Will they kill paper gold once and for all and make the world's fiat burn? Phenix rises? Debt has risen since 2011 why has gold and silver gone...
We have been wrong about how far they are willing to take the world down the shit hole once again just to surpress gold in $ Buyers should come in here Hard to justify a sell Crazy divergence daily RSI US dollar craziness 10/30 spread craziness Stock market will not make new gains if gold continues to fall either They have to make up their minds now --> FED
USDCNH is crazy overbought, lots of things are happening in the world that are bullish for gold. Buyers should step in here to defend the rising support since 2016 trade with care
Oh how I love bears and bats! This is looking like a great set up in the making. As always patience is key!!!! Wait for validation before entering this trade
Possible gold support and rise against British Pound
ENTRY LONG @ 871 SL 824 TP1 942 TP2 988
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