It looks like a potential H&S could be playing out on gold atm,
Although I personally wont be taking a short trade on it with all going on in the world, bullion is a great store of value against fiat currency and stock markets. More people will be looking for safe havens to store their wealth until the world returns to normal and markets start making a recovery...
This idea many BTC fans will hate. If you don't think this can happen you are not thinking outside the box enough. We are heading into the year of the Digital Asset Market. I find it funny that people are saying BTC to 100k ! BTC to a million! in less than a decade..sorry but I don't see it! it took a half a century just for rare relic coins to hit numbers that...
DXY will begin to move down. There's a hidden bearish divergence on the DXY chart and XAU/other precious metals have a bullish divergence.
XAU looks like it has broken out of the resistance.
Mid term target is 1488.
Should hit it in the next 2-3 weeks.
Enjoy the profits.
Have longed a 50% portion and will long another 50% once we get a 4 hour close above the...
This breakout can have a big potential upside if the flag formation plays out!
It appears the world markets are taking 'risk off'!
Big target is $1400+
Open buy posititon for XAUUSD on 1276.5
SL - 1270.5
TP -1290.3
RRR - 1:2.87
For negative correlation for XAUUSD and USDJPY - XAU going higher and USDJPY going lower
