Thank you for your support and for sharing your ideas.
Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. 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. CozzamaraDaZena is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
We add the moving avarages...remember that USD/JPY and Gold are inversely correlated in their moves but they can still form similar https://patterns...https://www.tradingview.com/x/Q0Y87xm8/
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Timeframe are differents 1H vs 4H but pattern is the same...this is due because of the move USD/JPY made on the 3rd of January when it bottomed at 105.
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Hi Guys,
I don't know what is going here with these patterns but I know that between USD/JPY and Gold there are inverse correlations due to their interconnected relationship between each other: both Gold & JPY are safe heavens vs USD (and also stock markets). In terms of moves (not in time) they are inversely correlated (USD/JPY vs GOLD). In terms of patterns it can happen that they form similar patterns but in different timeframes.
In my search of tops & bottoms that helps me to gauge the bias of the movements I think these patteres are correlated but I don't know how.
Does it mean that if the mouth of one crocodile opens the mouth of the other one may close? If Gold made the nose, when and how the pair will make a nose?
I don't know yet...work in progress.
Thank you for your support and for sharing your ideas.
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To make a nose Gold is topping
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top @1298.70 then horizontal supported @1278 approx.
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What is messing it up is the move that USD/JPY made on the 3rd of January that bottomed at 105
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The idea behind this is that they cannot shut their mouth at the same time. If one closes it, the other one should open it because of inverted correlations between the two.
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If USD/JPY closes it's mouth like this...
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I would expect gold to move like this...
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Here I try to give this nonsense a sense. Same timeframe 1H, some MAs
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Yes but also these eyes were formed in November. Lol
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This happens because USD, JPY and GOLD are inter-connected and USD/JPY is therefore inversely correlated with Gold.