MARKET ANALYSIS: The pair has broken the major resistance level. Now if the broken resistance which is now support holds. We can expect a new higher highs. So lets wait and see what the market does in the coming days. Cheers!
The problem with your analysis is that gold trades opposite of USD:JPY... you are projecting a bottom in Gold and for the USD:JPY to head higher. This does not correlate.
olegleo
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@AUinvestor, Who said you, that bottom of gold is 1220? Small bounce up and then down again...
Kishore
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@olegleo, Your right mate. It caught me this time. But will try some other entries soon. Thanks for sharing your views, respect it. Cheers!
AUinvestor
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@Kishore, Thank you Kishore! I'm following your work and just interested why? Perhaps gold will bounce and then put in a lower low.
AUinvestor
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@olegleo, I didn't.... did you? By the way, I think you will be proven wrong in your expectation.
olegleo
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@AUinvestor, No, I didn't. About price expectation - markets are never wrong, opinions are. Have a nice trade!
AUinvestor
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@olegleo, Well neither did I... so what are you talking about? And by the way... here's a newsflash, you are not the market therefore your opinion may be wrong... you have a nice trade too.
olegleo
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@AUinvestor, My itension was about your message: "....you are projecting a bottom in Gold..." But the bottom could be far away. May be I misunderstood you. Cheers!