Gold Daily Video, 30 June, 2016

[Sive Morten]

Good morning,

Currently we mostly deal with intraday charts. There situation has changed slightly and suggests possible action to 1340-1350 area:




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.

 

[Mokka]

Good morning,

Currently we mostly deal with intraday charts. There situation has changed slightly and suggests possible action to 1340-1350 area:




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.

Hello Sive, nice analysis and it already happened the price started to reverse before the market close after reaching your target the same as the NZD setup. So you think in the next week Gold will go down according to the butterfly pattern and the NZD will go down according to the head and shoulders and strong horizontal resistance. As a result i think the USD will strengthen and i think the weakest currency now is GBP after carney clarify that there would be a rate cut and maybe a QE so i think we should search for a short position in the GBP/USD pair. I realy appreciate your opinion so i wanna know if u agree with me and i have another question do you use some kind of indicator to recognize and predict patterns or you use your naked eyes. Thanks alot for your great analysis and support ,best wishes.

 

[Sive Morten]

Hello Sive, nice analysis and it already happened the price started to reverse before the market close after reaching your target the same as the NZD setup. So you think in the next week Gold will go down according to the butterfly pattern and the NZD will go down according to the head and shoulders and strong horizontal resistance. As a result i think the USD will strengthen and i think the weakest currency now is GBP after carney clarify that there would be a rate cut and maybe a QE so i think we should search for a short position in the GBP/USD pair. I realy appreciate your opinion so i wanna know if u agree with me and i have another question do you use some kind of indicator to recognize and predict patterns or you use your naked eyes. Thanks alot for your great analysis and support ,best wishes.

Hi,
well, in general you talk on correct things, but they are too common. It is not quite sufficient to say, for example, that GBP should move down. You need trading plan. But in general yes, we still watching for NZD downward turn. On Gold - it's not as clear as we would like it to be. Yes, we see technical barriers for upside trend continuation, but current patterns are too small by far to speak on retracement that we expect to get.
I mostly apply DiNapoli analysis framework +Pivots+harmonic patterns.

 

[Mokka]

Hi,
well, in general you talk on correct things, but they are too common. It is not quite sufficient to say, for example, that GBP should move down. You need trading plan. But in general yes, we still watching for NZD downward turn. On Gold - it's not as clear as we would like it to be. Yes, we see technical barriers for upside trend continuation, but current patterns are too small by far to speak on retracement that we expect to get.
I mostly apply DiNapoli analysis framework +Pivots+harmonic patterns.

Thanks again sive and yes iam speaking in general ofcourse cause iam a bit new to forex (to trading at all) i started self education only 3 months ago and i didnot have my own strategy yet. I saw your education here a week ago and i realy like it and your trading setups are perfect too.