AUD/JPY positive Gold correlation with AUD
ZOOM in/out so the yellow start line is just slightly visible. ( You will Probably find out, when the lines are F**** up )
Gold has a positive correlation with AUD pairs.
Historically the AUD have a 80% correlation with the price of GOLD
and we could see the gold price go very high this year, because of
all the uncertainty in the economy and of course DONALD TRUMP.
This is almost pure technical, as you can see i haven't seen on the fundamentals as much as i should, which you should
because it is a very important factor in this pair.
I have set 3 TP areas and as you can see it´s a long term investment
so be patient. it can also go in the other direction, nothing is 100% correct of course.
thats why we have STOP LOSS!
Stop Loss will be at 83.469 and should be adjusted under the way
to lock/secure profit for the higher target at TP3.
I will upload a chart on a minor timeframe, for counter trade.
Happy trading!
Gold has a positive correlation with AUD pairs.
Historically the AUD have a 80% correlation with the price of GOLD
and we could see the gold price go very high this year, because of
all the uncertainty in the economy and of course DONALD TRUMP.
This is almost pure technical, as you can see i haven't seen on the fundamentals as much as i should, which you should
because it is a very important factor in this pair.
I have set 3 TP areas and as you can see it´s a long term investment
so be patient. it can also go in the other direction, nothing is 100% correct of course.
thats why we have STOP LOSS!
Stop Loss will be at 83.469 and should be adjusted under the way
to lock/secure profit for the higher target at TP3.
I will upload a chart on a minor timeframe, for counter trade.
Happy trading!