Gold Gold Daily Video, July 01, 2020

[Sive Morten]

Good morning,

Gold stands in a positive mood, but now we should care on retracement, as our 2nd daily target is completed:

 

[soul rebel]

Hi Sive
Thank you for providing great analysis and trade management strategies which are essential for aspiring traders, your words are worth their weight in Gold

 

[Brett Reynolds]

Surely we should get some Deeper retracement this month..!!?? I'm look for that..!

 

[Joshnix]

Sive,
You have been saying confluence where I was under the impression that the 38.2% has to overlap the 61.8% so the 1 hour chart you had 2 fibs and the 61.8 was above the 32.8% maybe that is a sign of weak confluence or maybe I am under the wrong assumption. I will be looking for long entry at 1758, a little above July Monthly Pivot with stop at 1750 as the confluence support I see is between 1755 and 1752 area.

I trade the /GC futures so price may be a bit off of spot

 

[Sive Morten]

You have been saying confluence where I was under the impression that the 38.2% has to overlap the 61.8% so the 1 hour chart you had 2 fibs and the 61.8 was above the 32.8% maybe that is a sign of weak confluence or maybe I am under the wrong assumption.

Hi Josh,
K-area is any combination of 3/8 and 5/8, despite what level stands above without any harm to strength or quality of the area.

 

[Tryingtrader]

Could this be H&S forming on the H1 & H4 charts? If so, then perhaps we are looking at a significant retracement down to the previous lows @ 1746 area.

 

[Joshnix]

Hi Josh,
K-area is any combination of 3/8 and 5/8, despite what level stands above without any harm to strength or quality of the area.

In Dinapoli levels I will go back and re-read I thought it was the overlapping that gave the strength.

 

[AlabMark]

Great strategies shared Sive. I'm enjoying your videos and looking forward to the new ones.