hey all .........
someone asked me about buying gold again soon ........:whistling
ok heres an FXCorrelator where ive just added gold as a currency into the mix so it performs as an individual index like the others and is unaffiliated to any pair.......
in other words ive divorced Gold from just the normal XAUUSD the same as I do for all currencies in the FXcorrelator indicator ...they run free as sole currencies
its on a 500ma setting so you see real time movements and minimum MA skew
so lets see .....hmmm the Violet gold was the big Swinging dude in late 2011 and again in Early 2012 wasnt it ? ....and now its crumbled ...although May brought a little fight back to its cheeks.....!
I trade Gold like any other currency....if it gets stronger than the others I buy it ...if its weaker I sell it .....and I make my Gold trades in USD as that where the liquidity is ......so I really do treat it like my standard Forex trades where I tend to stick to the USD pairs as well
and what is the first rule in my Forex FXCorrelator trading ?
the USD (and yen but not as important here) have to be Falling or Rising to give me confidence to then Trade Currencies that must be moving in the Opposing Direction
So my rules apply to Gold and I dont go at the XAUUSD trade unless I have the USD moving in the opposite direction to Gold on the charts
so look at the chart and tell me when USD was falling in a month to encourage me to start buying the gold line
Yep January 2012 ........thats it .....and Gold went ballistic !!.......so when it happens again I will step in.......(alongside a few other rules that is
![Wink ;) ;)](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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so NO i'm not buying gold yet on the Dailys.......:smart:
N