Gold and the Dollar are not friends
Gold is really about the US Dollar strength. I've shown the inverse correlation in other charts before, but not on this 15 min time frame.
The relationship is startling.
So - if you believe the dollar is going to go significantly north, there is hardly any point going long on Gold.
If you believe that a Dollar Surprise is coming (see my post on that), then are you long on Gold? Think about it.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
The relationship is startling.
So - if you believe the dollar is going to go significantly north, there is hardly any point going long on Gold.
If you believe that a Dollar Surprise is coming (see my post on that), then are you long on Gold? Think about it.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
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