Quadruple bottom technically. Everything is here for a great trade - 1-2month hold. 2X
Position entered. Simple trend/support & fundamentals of SXY.
Wait for multiple confirmations if entering this short trade.
Keeping a close eye on this one. Could see our region met within the next two hours.
We are long term bullish on Gold. We purchased over 5lbs of physical gold around the 1200oz pricepoint. However, there may be an oppertunity to catch a short at these levels. We are worried that we could see the Trump Admin reinstate a gold-backed dollar - punching golds prices up into the $4,5,6-10k price per oz points. Watching - Lets see how next week plays out.
Find linked below our private setup that we posted on Monday for our premium members. Here is the after.
Potential short back down to the $7500 area before reexamining.
Ideally, catch it at the swing high and short it back down to the trend line.
Our GJ entry got stopped out (real market) Looking to get back in - keeping a close eye on this pair for perfect entry point. GBP Strength Coming JPY Weakness Coming Potential to see 138 met before bullish leg back to mid 140's 700+pip potential. GO SMALL! GBPJPY is a Powerful pair - Does not need large lot sizes.