FX_IDC:XAUCNY XAUCNY Analysis price action Fibonnaci pivot Support and Resistance Pivot Points Base Pivot goldcny 📉The confirmation of entering a short position is validated after the closing of a 4-hour candle below the 4-hour support levels. 📈The confirmation of entering a long position is validated after the closing of a 4-hour candle above the 4-hour...
FX_IDC:XAUCNY OANDA:XAUUSD Why CNY? - Because chinese and its yuan still dominate world trading in the next few years, in the end it will make yuan position getting stronger than dollar, and it more relevant to pair it with $GOLD - USA try to counter by pushing USOIL and geopolitic issues to maximizing petrodollar strategy to increasing dollar demand, but it...
📌 The lows in Gold are an elegant threat for another leg higher towards the highs; name wave 5 which is the one that we have been tracking since the previous diagram: I love it when an idea comes together. We arrived at the destination for our retrace and have started to form a base. Sellers are vacating! Moreover, buyers are now keeping their eye on the...
OVERALL BULLISH TREND SO NOW WAIT FOR COME AND TOUCH Then Continue TO BULLISH MOMENTUM . ONLY FOR MY OPINION China has overtaken India as the largest importer of gold in the world and, worryingly, some of it is headed to India illegally.© copyright.
📌 The struggle to claim 14,631 is notable. When studying the waves I came across similar a similar state of affairs in the earlier flows. The impulsive rally derives from its strong nature, not from itself but from much more the strategic concept of portfolio defence. A defensive move which is clearly crowded and starting to become a deer in the headlights could...
Here we can focus on the realms of reflationary risks that are around the corner, the struggle to shake out bulls is identical to the struggle we saw in 2016 which is reassuring, and for that reason our problem is reduced to a timing issue. For those tracking the previous diagrams in Gold it is obvious in USD terms both on the Weekly and Daily. Weekly: ...
The rally is moving at full speed as expected and we are in the impulsive stages. The main targets for this 3rd wave comes into play at 10127.76 with potential for a 5th wave to continue for the jackpot at 10567.33. A very good chart from a technical perspective, we have discussed Gold on the fundamnetals side in many of the attached charts and will not be...
Only valid for Chinese people. If you want to keep your wealth. You need physical gold. I don't understand the macro economy. I think the trade war is long-term and he will exacerbate the devaluation of the renminbi. If you are a Chinese compatriot. I hope you are lucky.
After putting in another bottom in August, Gold is breaking out to the upside. Will hit a high in early Feb consistent with its 1-year cycle.
After reading the article noted below, I decided to plot USDCNY, XAUCNY and GOLD, overlayed on a chart showing the computed value of XAUCNY divided by USDCNY. It strikingly shows the correlation between the two pairs, and how it accurately aligns with the XAUUSD (Gold) valuations. That being said, it would make sense to watch the Chinese Yuan closely to get a...
Gold has sold off as the initial reaction after the FOMC meeting on Sept 26th. However right now is a very good spot for at least a bounce play imho. I'm sharing the chart of Gold priced in Yuan. It shows that gold has sold off all the way down to the LVN 8126, where previous sharp rebounds have happened. Assuming that USD/CNH has topped, then this is the best...