Gold Daily Video, 03 December, 2015

[Sive Morten]

Good morning,

Reaching of our 1038 target is just a quetion of time. Probably 1-2 sessions:




The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[fbrinzan]

Hi Mr.Sive Morten,

My name is Florin Brinzan and I'm one of your funs in following your daily analysis and I'm wondering if there is a mistake regarding XAU/USD pair, in the estimation of AB boundary for 1 Day which should be at least equal with CD boundary.
In this respect as per MT4 the peak (A point) is about 1232.33 and the bottom (B point) is about 1071.59. There is a distance from A to B of 160.74 units.
Assuming that the coordinates of C point is 1191.39 and deducting 160.74 units, D point should be at least 1030.86 or lower if we take into consideration FIBO extension.
In my opinion the ABCD pattern might be completed if we reach 1030.86 target and not 1038.
Do I wrong?
Thank you very much in advance for your kind feedback,
Best Regards,
Florin

 

[Sive Morten]

In my opinion the ABCD pattern might be completed if we reach 1030.86 target and not 1038.
Do I wrong?

Hi Florin,
actuallly I've cloned the line and the drag and dropped it, so they are equal. Some difference could be in different quotes among brokers. In general your conclusions are correct. Also we speak about 1038 with some approximation, just to indicate an area where target stands. And whether it will be 1037.90 or 1038.50 is not big deal...
1030 is a bit too low. Your "B" point stands at 1071, while mine one is on 1077 - this is just different quotes.