Metals
If Bitcoin Really is The New GoldLet's say the equities market crashes along with commodities, then we would expect gold's price to increase, but maybe Bitcoin will become the new gold due to the nature of the pandemic that we are currently amidst. The key point is this: gold is neither easily transportable, transferrable, nor is it readily portable. It would be impractical to expect be able to readily access gold throughout the entire time it takes for our planet to either acquire herd immunity to SARS-CoV-19 or to produce a vaccine which would be used to prevent said virus. Bitcoin is advantageous in this aspect. A $120,000 per coin call sounds hopeful at one point or another, but such lofty thoughts like that don't seem too far out of reach, especially during times like these.
DXY - Gold negative correlationJohn Murphy in his classic on "Intermarket Analysis" writes on the dollar gold negative correlation.
Here we compared DXY - Gold correlation on daily chart in regard towards 200 day average.
If you will take closer look, you will see that in case of divergences forming, it is dollar index that usually fails.
If gold breaks resistance (being in sharp uptrend towards 2011 highs) and we do observe some sort of bullish cup and handle continuation pattern - dollar is likely to fall.
By DeMark criteria, bullish breakout on gold looks better than the one on dollar index.
On correlation cofficient, we are also observing ever decreasing divergence trend towards 200 day average.
At any case one of two should fail in uptrend:)
How To Use TradingView Hotkeys and ShortcutsOn TradingView, hotkeys and shortcuts will help you chart faster and navigate markets in lightening-speed. Draw a Trendline or a Fibonacci Retracement by pressing one or two keys on your keyboard. In this video, we want to show you every hotkey and shortcut available.
Press Alt / ⌥ + T to quickly draw a Trendline.
Or press Alt / ⌥ + F to quickly draw a Fibonacci Retracement.
These are just some of the ways you can use hotkeys and shortcuts across the TradingView platform. They work for your charts, indicators, drawings, scripts, and more.
We hope you enjoy this video guide. We also are curious to hear what you think of the trendline we draw on the chart shown of gold using the Trendline hotkey. Please let us know your favorite hotkeys and shortcuts or request new additions in the comments below.
Thanks for watching,
TradingView
Gold Remains in Bull Market Versus RinggitGold is still in bull market. Holding Gold is better than holding ringgit, for now.
Gold Sell After the BuyWatch price action at 1749 for rejection or continued buy to the next level noted; I do believe a bigger drop is to come.
S&P How spot market recovery & what markets to buy & sellZones created using crossovers of Monthly 20 MA on VIX close & 20 MA of same. Like end of crash in 02 & 09 some bulls and bears think this crash will only be confirmed over when TNX closes month above 1.34. See what happened to OIL, GOLD, and DOLLAR last time (green verticals). White verticals denote VIX peak (no guarantee reached that yet). Caveat small sample size & my arbitrary choice of two key TNX levels which just appeared to make this analysis work to perfection on two previous occassions. NOT ADVICE. DYOR.
gold4.23.20 This ended up being a video on gold and I never got the oil, but he gave me a chance to talk about the nuances of price action, money management, and risk reward. It will be a good video for a lot of traders because it shows a slightly different point of view that can help you once you think about this and develop your own strategy and your own sense of market dynamics. You do not have to accept everything that I say, but have an open mind and always verify through examples over the next month or so, and then refine your point of view. If this was helpful I would appreciate a thumbs up. Thanks
gold oil4.22.20 On this video I describe some issues that I have with the oil market and some of the technical problems that resulted a couple days ago. I tell you what I plan to do, and I will get back to you on that. I also talked about the potential oil trade that a scalper might've taken yesterday, and I expand on that today, and I make some differentiations between two different "BUY" set ups on the chart and how I handle them differently. If this video provides value please give a thumbs up. Thanks.
Gold | Expanding Wedge & Key Support..!!#XAUUSD (Update)
Forming Expanding wedge Pattern & Trying for Breakout in 4h Chart.
In Case of Breakout, It Could Test 1750$ Resistance.
If Failed to Breakout, then It Might Retest the 1640$ Support.
I'm Expecting Support (1640) Retest Before Breakout..!!
Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!!
Thanks for Your Love & Support.. !
oil gold4.21.20 I set up my charts for futures trading on oil and gold. In some ways it takes a little bit more prep for the futures trading then you might need if you were trading forex. I believe the oil market is setting up for a long trade. I briefly reviewed the gold market and pointed out what might have been a long trade for a scalper or a trader looking for a longer trade. Please give a thumbs up if this provides any value for you.
gold4.18.20 Gold: please draw the lines on your chart, and do the best you can to understand what I am trying to say. I believe you will benefit from doing this. In this exercise I will have you flip the timeframe, just do it as you have nothing to lose. I will give follow-up.
Gold4.17.20 Possible ideas for scalpers who mind trading for more risk...but who feel they have enough winning trades compared to the number of losing trades.
oil gold4.17.20 US citizens should be trading the oil futures, not the Forex oil even though they correspond very closely, you should take a look at this video. I showed some follow-up on gold; and I give a brief review for new followers on how I view the market. Please give a thumbs up if you like the video.
