Gold Bear Activity

25 thg 10, 2017

Potential double-bottom pattern on Daily chart

* Downtrend on 4 Hour

* 1.618 fib aligns perfectly with the last leg of downtrend

*Also USDCHF which correlates highly with Dollar Index flew 180 pips breaking the resistance level on Daily and Weekly.

* I am expecting Dollar to do the same looking at Weekly chart which broke out of downtrend, retested.
This is my personal bias on Gold since it correlates with DXY in opposite directions.

26 thg 10, 2017

Ghi chú

Hit right on spot!