Copper is in trouble. Time to pull the trigger.
I've heard a few people saying these two markets (bitcoin and gold) are positively correlated. Without doing any sophisticated statistical analysis creating a regression and covariance of historical price, let's keep things simple. DOES THIS CHART INDICATE PRICE IS POSITIVELY CORRELATED?? Not even close.
1st level is 440 2nd level is 1100 3rd level is far above This is a beautiful breakout on all time-frames.
I apologize for the unorganized chart. I have many drawings from my daily analysis! The light blue shade represents the pennant pattern the EUR broke against USD on the daily and weekly chart
Update: July 14 - Stop placement is completely wrong. Should either be at 93.10 or 85.55. Will adjust that.. New Zealand has reached a major (at least temporary) top against the Japanese Yen in January of 2015. I will keep a close eye on this one and start going short between now and 86.XX - 87.00. I believe my target will be reached (at least target 1) by mid...
I usually do not follow moving averages, but I'd be a fool not to pay attention to them when they conform so well with the historic trends.