Gold set to rise a lot more vs. Chinese Yuan => pattern breakout
3-year inverted head & shoulders breakout in XAU/CNH (offshore yuan).
Targeting 258+
Targeting 258+
Order cancelled
Ok, so I discovered belatedly that TradingView does not correctly invert forex crosses, which makes the above chart useless.Xau.Usd / Usd.Cnh should be the same as Xau * Cnh, as the Usd cancels out. This does not happen with TradingView.
I did not spot this at first. the reciprocal is closer to 8,500 than 211.
Thus the original rationale is not valid
Note
The correct chart looks like this:Shows a descending triangle with an inner formation. Potentially still bullish, but not yet.
The main thing is to keep the main thing the main thing
The main thing is to keep the main thing the main thing
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