Pecuniae obediunt omnia
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Go with the Herd and Short Gold?
After featuring XAU/AUD (the ugly cousin?), over the last couple of weeks, a double top in XAU/USD has eventually brought us back home! First up we focus on the gold daily chart, featuring a nice double top at previous support turned possible resistance: A double top that just happens to coincide with that previous swing low you can see on your MT4 charts from back in September 2016. I guess you could call that a confluence of resistance now that we have the second touch of a potential double top? Well, whichever way you want to look at it, you have price that has retested previous support as resistance on the daily ... (full story)