GOLD vs USD/JPY: inverted correlations
Updated
Hi Guys,
this is rough structure based on the daily chart. If Gold moves up, USD/JPY move down, If Gold makes a bottom or a top, USD/JPY makes the opposite.
Tops and bottoms are formed but not at the same time. Moves goes in the opposite direction but they have different lenght and magnitude.
Sometime, not always, it is possible to understand which one is moving first and spot opportunities in the other market.
Here below weekly charts:
For additional snapshots please have a look inside previous idea:
Please share your view and for additional infos about Gold have a look to the related ideas linked at the end of this post.
If you have any questions or comment to add please do not hesitate to post it.
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. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
this is rough structure based on the daily chart. If Gold moves up, USD/JPY move down, If Gold makes a bottom or a top, USD/JPY makes the opposite.
Tops and bottoms are formed but not at the same time. Moves goes in the opposite direction but they have different lenght and magnitude.
Sometime, not always, it is possible to understand which one is moving first and spot opportunities in the other market.
Here below weekly charts:
For additional snapshots please have a look inside previous idea:
Please share your view and for additional infos about Gold have a look to the related ideas linked at the end of this post.
If you have any questions or comment to add please do not hesitate to post it.
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. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
Note
The following is a screenshot adding a fibonacci retracement of the move from 2 to 3 in order to check what level has been retraced:Note
or from 0 to 3 Note
then we can add a trendline...Note
f UJ breaks the blue descending trendline, will Gold do the same but in the opposite direction?Note
Gold vs UJ 2HNote
Note
Note
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Disclaimer
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