Short DXY (SHORT-TERM)
There is an inverse relationship between the US dollar and Gold. When the value of the US dollar increases in relation to other currencies, the price of gold tends to decrease. Price of gold becomes more expensive in other currencies, therefore, demand decreases.
In March 12, GLD broke support (red line). Days later in March 18, DXY broke resistance (red line).
In April 6, GLD broke resistance (pink line). Will GDX follow and break support (pink line)?
USD has formed a daily supply zone. Price may come back to that zone. If that happens, there will be a nice reward/ratio of 3.5:1. A good stop loss would be the distal line.
"Profit with minimum capital risk, is the sole objective."
In March 12, GLD broke support (red line). Days later in March 18, DXY broke resistance (red line).
In April 6, GLD broke resistance (pink line). Will GDX follow and break support (pink line)?
USD has formed a daily supply zone. Price may come back to that zone. If that happens, there will be a nice reward/ratio of 3.5:1. A good stop loss would be the distal line.
"Profit with minimum capital risk, is the sole objective."
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