I was not planning on doing a chart for-XAUUSD, but today I took a position long the-US Dollar-via-UUP.
So, if the-UUP is strong then-XAUUSD and-GDX should be weak.
Here is what I see:
Most time horizon charts for-XAUUSD are very negative.
1. There has been a complete breakdown in the uptrend.
2. Sell Fractal.
3. The top middle indicator is a 13 interval momentum of OHLC/4, and this has crossed the zero line down-wards.
4. The top indicator is a 34 interval momentum reading of the XAUUSD-price. This is weak, heading lower. This is a sell signal.
5. Chop (under chart) is below THE SHADED AREA, indicating a DOWN-TREND. This is a sell signal because the chop zone color is red.
6. Chop zone (under chop) is red, indicating a downward trend. This is a sell signal.
7. The red conversion line of the Ichimoku Cloud is heading lower. This is a sell signal.
8. The black baseline line of the Ichimoku Cloud is heading lower. This is a sell signal.
9. Prices are trading below the Ichimoku Cloud conversion line and baseline. This is a sell signal.
10. The Ichimoku Cloud is heading lower. This is a sell signal.
11. Prices are now below a 233 interval trend-line. This is a sell signal.
12. The chart for-UUP is showing strength (see Part Two).
Conclusions: I see-UUP strong and-XAUUSD weak.
I hope all of your trades go well. Don.
So, if the-UUP is strong then-XAUUSD and-GDX should be weak.
Here is what I see:
Most time horizon charts for-XAUUSD are very negative.
1. There has been a complete breakdown in the uptrend.
2. Sell Fractal.
3. The top middle indicator is a 13 interval momentum of OHLC/4, and this has crossed the zero line down-wards.
4. The top indicator is a 34 interval momentum reading of the XAUUSD-price. This is weak, heading lower. This is a sell signal.
5. Chop (under chart) is below THE SHADED AREA, indicating a DOWN-TREND. This is a sell signal because the chop zone color is red.
6. Chop zone (under chop) is red, indicating a downward trend. This is a sell signal.
7. The red conversion line of the Ichimoku Cloud is heading lower. This is a sell signal.
8. The black baseline line of the Ichimoku Cloud is heading lower. This is a sell signal.
9. Prices are trading below the Ichimoku Cloud conversion line and baseline. This is a sell signal.
10. The Ichimoku Cloud is heading lower. This is a sell signal.
11. Prices are now below a 233 interval trend-line. This is a sell signal.
12. The chart for-UUP is showing strength (see Part Two).
Conclusions: I see-UUP strong and-XAUUSD weak.
I hope all of your trades go well. Don.