Disliked{quote} I totally agree you but they release a data in this situations to completely change the direction.And they did this many many times lately.Haven't they ? Usdlfx,gold charts suggest that, usdlfx is going down and gold is going up.Either today or tomorrow the latest. {image}Ignored
So, the uncertainty over what would happen for the first week sent buyers of the Dollar away. Once things settled down, they came back to the Dollar, and Gold resumed its normal pattern of manipulation.
Today's rate cut in Europe may also weigh heavy on Gold – money perhaps shifting out of the circus known as Europe, and into the biggest game on the block... namely the destruction of everything peripheral to the current global reserve currency.
Returning to the four hour bar that you focused upon; one of my main reasons for always submitting multiple timeframe charts is so that the viewer can see that I try to work from the top down in my analysis. In addition to this, I always attempt to retain a respect for the longer-term trends, and assess whether these can be correlated to statements proffered for shorter-term trends.
Author of: For Pip's Sake! (Available at Amazon... :-) )