Gold my butt
hey all 😀
I do trade Gold occasionally but I am not a gold "nut" - as I prefer the liquidity of Forex using my FXcorrelator and derived indicators
Jees all I get is buy gold Buy gold in my Junk mail inbox.....
Everything I do is based around Price relativity...it allows me to track markets with an objective eye and see value based signals when they appear and be able to profit from them
So lets get real about Gold Shall we :smart:
here is a 500ma correlator chart and I have added Gold (in Violet/bold) and priced it RELATIVE to other Forex Currencies
so you are not Seeing Gold priced in US dollars , but as a stand alone "currency" - in the same vein as the other more familiar currencies shown
so what do you see.......?
I see about once in the last 4-5 months where gold moved more aggressively than comparitive currencies (mid may) - with NZD spookily still closely tracking Golds "miraculous" performance......(hmmm)
ok july's run north has been pretty good I'll admit , and once USD started to fall the Gold/USD went ballistic - Hence the recent hype...(and actually where I looked for trades as I look for USd's direction to oppose "Relative price" Gold to give the G/U trade a kicker)
So as I always say here ..............read beneath the Hype and do not repeat do not believe all you read :smart:😉
N