M-Pattern on Gold, W-Pattern on DXY - Where are they Going????
Hello Traders,
Looking at Gold, I see the opposite of the DXY but not so clean because of I think we have seen two major fundamentals in the last 1 year (The Russian/Ukraine war & The Silicon Bank Failure) that may have impacted gold.
Going by M-Pattern price action Gold is a bit very tricky now, but I will sell Gold massively if I see a closure below the 1819 in the next couple of days or weeks but for now will be looking at bullish or bearish signals in lower time frames for entries.
Gold requires a lot of patience but if the W-Pattern, the break, and retest of previous resistance, now looking like a possible support on DXY, then, we might see gold get back to the 1600 zone and if that breaks, we may see 1451 zone. For now, let's trade careful and focus on price action and not what we think as traders.
Looking at Gold, I see the opposite of the DXY but not so clean because of I think we have seen two major fundamentals in the last 1 year (The Russian/Ukraine war & The Silicon Bank Failure) that may have impacted gold.
Going by M-Pattern price action Gold is a bit very tricky now, but I will sell Gold massively if I see a closure below the 1819 in the next couple of days or weeks but for now will be looking at bullish or bearish signals in lower time frames for entries.
Gold requires a lot of patience but if the W-Pattern, the break, and retest of previous resistance, now looking like a possible support on DXY, then, we might see gold get back to the 1600 zone and if that breaks, we may see 1451 zone. For now, let's trade careful and focus on price action and not what we think as traders.
FINSPOT ACADEMY