GOLD Daily Video, July 09, 2013

[Sive Morten]

Good morning,
Gold market is showing nice action by far, our plan is working nice. Although some minor retracement could follow today, currently we do not see any dark clouds on the way to our 1295-1300 target:





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.

 

[fabx]

Hi Sive do we also now have a double repo setup.
Thanks Alex

 

[greasey]

Hi Sive,

Your analysis and dedication is second to none. Your simply the best. My Only worry with current bullish development is that the potential for a butterfly Buy starting its final wing from current levels. We are at 0.618 Extension from AB-CD pattern from 1180 lows and the price to 0.618 extension has been very harmonic. I would only feel sade to enter long after this butterfly opportunity has been deleted.

Chart XAUUSD, H4, 2013.07.09 07:56 UTC, ThinkForex.com, MetaTrader 4, Real - MetaTrader Trading Platform Screenshots

 

[Sive Morten]

Hi Sive,

Your analysis and dedication is second to none. Your simply the best. My Only worry with current bullish development is that the potential for a butterfly Buy starting its final wing from current levels. We are at 0.618 Extension from AB-CD pattern from 1180 lows and the price to 0.618 extension has been very harmonic. I would only feel sade to enter long after this butterfly opportunity has been deleted.

Well it could happen, but we have bullish stop grabber. If it will work as it should - butterfly will be cancelled. Other words, one of these patterns should fail -either grabber will not hit the target or butterfly will be vanished.

 

[Sive Morten]

Hi Sive do we also now have a double repo setup.
Thanks Alex

Hi Alex,
DRPO does not suggest hitting of significant resistance level, while market has hit 3/8 as we've traded B&B trade.