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Gold Gold Daily Video, August 20, 2019

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, Aug 20, 2019.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Good morning,

    As gold stands in consolidation and above 1480 lows - it keep chances on another leg up, so it is not safe to take short position right now:



    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.
     
  2. minimax

    minimax 2nd Lieutenant

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    I read this move down as an impulse which demands retrace so if price goes into (1), 5th is in place, might be pullback and upwards again. If it continues down then 5th is limited because 3rd is shorter than 1st.
     

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  3. Joh

    Joh Sergeant Major

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    The Chart is not that clear to me, however thank you for the message with it :)
     
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  4. minimax

    minimax 2nd Lieutenant

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    Dont uderstand exactly what you ment with ˝clear˝, but based on Euro reactin I think market expect just a retracment on gold. Target ABC was hit but not even 38,2 retracement so maybe a soike and down again, thats how I see it.
     

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