My Gold Trading Strategy

[0:00]Gold has been absolutely skyrocketing recently. Here's my exact trading strategy I use in order to take advantage of this unique situation. First, go to TradingView. If you don't yet have it, I'll leave a link in my bio. Search XAU, which is gold. Next, open a second chart DXY, which is the dollar index. Now, this is where things start to get interesting. Gold and the dollar usually move in opposite directions, meaning when gold does good, the dollar does bad. When the dollar does good, gold does bad, which if you're thinking like I'm thinking, we can use this to our advantage. First, go to the indicators tab, search correlation coefficient, click this one. If the indicator is below this dotted line, that confirms they are currently negatively correlated. So, what you want to do, wait for gold to hit a strong demand zone. Next, make sure the correlation coefficient indicator is negative, which confirms there's negative correlation. If both of those are true, go to the DXY, make sure it's in a strong supply zone. If it's not, wait and don't take a trade. But, once gold is in a demand zone, DXY is in a supply zone, and the coefficient indicator is negative, that is your sign to enter a long on gold. And just like that, you got a winning trade.