Hallo People of Tradingview,
last Thursday I posted an idea in which I thought that GOLD was maybe forming a rising wedge. A similar pattern was forming too in EUR/USD.
1) ABC were formed at the same time;
2) when the pair broke-out the resistence, the precious metal did not and kept on going within the bounderies of the rising wedge;
3) When EUR/USD tested the broken resistence, GOLD broke-out the rising wedge to make a Bull's Trap.
To see this please click & play my previous post
Now, if GOLD found support at the level of C, is it reasonable to expect EUR/USD to target C? Or is it better to be cautious and watch for B to support in conjunction with the lower trendline of the upper channel formed by X and D?
I don't know but the move is suspicious and I think it's late to develop this idea further. Tomorrow I will try to undestand the volatility that drives both.
REMEMBER: FED Meeting next Wednesday.
Have a good night everybody!
Please share your views and comments. Any idea is a contribution for better understanding The Matrix.
Please note that I am not a professional trader and these are my personal ideas only.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Thank you for following and for sharing your ideas.
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
last Thursday I posted an idea in which I thought that GOLD was maybe forming a rising wedge. A similar pattern was forming too in EUR/USD.
1) ABC were formed at the same time;
2) when the pair broke-out the resistence, the precious metal did not and kept on going within the bounderies of the rising wedge;
3) When EUR/USD tested the broken resistence, GOLD broke-out the rising wedge to make a Bull's Trap.
To see this please click & play my previous post
Now, if GOLD found support at the level of C, is it reasonable to expect EUR/USD to target C? Or is it better to be cautious and watch for B to support in conjunction with the lower trendline of the upper channel formed by X and D?
I don't know but the move is suspicious and I think it's late to develop this idea further. Tomorrow I will try to undestand the volatility that drives both.
REMEMBER: FED Meeting next Wednesday.
Have a good night everybody!
Please share your views and comments. Any idea is a contribution for better understanding The Matrix.
Please note that I am not a professional trader and these are my personal ideas only.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Thank you for following and for sharing your ideas.
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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Also please keep an eye on the DXY and remember that US Mid-Term elections will mostly be held on the 6th Nov 2018.
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