Loading ...USD & GOLD up in Tandem?
There seems some posters to believe that NEXT move both USD and GOLD goes UP in tandem. Those posters also believe that USD will TURN-UP from here on which I agree on as posted before. But when one does an inspecting on such claim (both up in tandem) and inspect . . . I see another outcome: they DO NOT GO UP IN TANDEM.
Below a simple chart of $GOLD (candlestick) with USD overlay (black line). Possibly 2021 was in tandem but when inspecting more closely; not really. All other years including 2022 both acted ‘opposite’.
GOLD and USD UP in tandem or wishful thinking? Goldbugs feel lucky?
In 2009 and 2010 gold and usd went up in tandem…I remember it well because I did earn both with the currency (usd vs euro) and with the shares.
Oke, I did not check as I only went back 10 years (see chart). But Mamare, so if it did . . . that was 14 years ago. Such does not classify a ‘rule’. So a trader should dismiss such anomaly – IMO.
Furthermore … a possible reason gold and usd both went up in 2009/2010 was just after the SM-crash which crashed everything. Sure … everything went up afterwards.
Keep your time frames in mind Nightingale. When did you last trade a weekly chart?
I only trade off weeklies, but they display daily signals mapped up onto the higher weekly degree, with trends from the monthly mapped down to the weekly. Ie, a weekly chart can reflect information from multiple timeframes if you built it that way.
You are not trading futures or currencies then! let me assure you deep pockets are required in order to trade weekly charts over there. And nerves of raw steel help. I feel like a real gambler if I use a 15 minute chart for anything more than guidance!