GOLD Daily Video, July 26, 2013

[Sive Morten]

Good morning,
gold market once again has confirmed its cunning and shown bearish trap that we've been worrying about. Now market doesn't not show the clear setup yet and better to wait a bit:






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.

 

[Brett Reynolds]

Hi Sive. You Timekeeping is excellent today my friend. Your Daily Video's arrived in my Inbox at 'exactly' 9amGMT! I'm guessing you must have read my reply yesterday? :rolleyes. Re yesterday PA on both Gold & Euro.
I did not take the short Scalp Trade as i have been trying to trade with the overall daily trend and use the EMA's. I have to 'stick with the programme'! At the London open yesterday we had plunge down on Euro and at same time Gold 'broke' the bear flag. I have upward Daily trend lines on both euro & Gold. At the point were price 'hit' my upward trend lines AND exactly hit the 150EMA's...price reversed back up to the upside to continue with Daily Trend. The price was around 1310 on Gold & 1.3175 on the Euro! This is where i bought Gold to trade back with the Daily trend. Your Video showing the scalp trade to possible 1290 area helped me 'pick the spot'! B