Hey tradomaniacs,
the previous sell-off we`ve seen is a non-sense-move in terms of correlations.
As mentioned long time ago I`ve said that some of the assets has to be the lyier - Save havens such as CHF, JPY and GOLD were climbing with the previous stock-rally (Non-Sense).
Now we see another non-sense-scenario where the Gold-Market drops with the stock-market.
The only sense I see in this move is that big institutional players were forced to cash out profits to compensate losses from the "crash" in the stock-market.
Now since there is a lot of potential for the stocks to recover I see the opportunity to sell Gold down to 1.500 - 1450. This would make sense in terms of correlations.
Technically we see a wonderfull completion of the Impulse-Wave. The previous double-top could cause more bears to take action after the retest of the DT-Area.
We will see - Wild markets. :-)
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
the previous sell-off we`ve seen is a non-sense-move in terms of correlations.
As mentioned long time ago I`ve said that some of the assets has to be the lyier - Save havens such as CHF, JPY and GOLD were climbing with the previous stock-rally (Non-Sense).
Now we see another non-sense-scenario where the Gold-Market drops with the stock-market.
The only sense I see in this move is that big institutional players were forced to cash out profits to compensate losses from the "crash" in the stock-market.
Now since there is a lot of potential for the stocks to recover I see the opportunity to sell Gold down to 1.500 - 1450. This would make sense in terms of correlations.
Technically we see a wonderfull completion of the Impulse-Wave. The previous double-top could cause more bears to take action after the retest of the DT-Area.
We will see - Wild markets. :-)
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.