GOLD Daily Video, March 13, 2014

[Sive Morten]

Good morning,
Gold does not give us any chances for short-term trading yet, so let's discuss general situation here:





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]

Well..so much for my 1 hr Pin Bar with 4 hour PB at 1360 level! I did not trade it by the way as I would wait for H&S to form anyway before taking short..but with your analysis of Ozzi $ I thought that may be catalyst for reversals after recent Bull moves. Anyway Sive I have to ask and to clarify this one point. I do not know how to email you directly or if at al possible so i ask you please just to clarify In your commentary videos.

When you talk about 'invalidation' points. Ie Today you mention about 'Low of Monthly Stop Grabber on JPY/$ Set up.
When you say 'Taking out of the lows'..do u mean 'A close below'? OR..just candle piercing those lows!? If close below..on 'what time frame'!? I presume that a W&R of the monthly Stop Grabber on the 1 hr or 4hr time frame does NOT invalidate the Set Up.!?

 

[Sive Morten]

Well..so much for my 1 hr Pin Bar with 4 hour PB at 1360 level! I did not trade it by the way as I would wait for H&S to form anyway before taking short..but with your analysis of Ozzi $ I thought that may be catalyst for reversals after recent Bull moves. Anyway Sive I have to ask and to clarify this one point. I do not know how to email you directly or if at al possible so i ask you please just to clarify In your commentary videos.

When you talk about 'invalidation' points. Ie Today you mention about 'Low of Monthly Stop Grabber on JPY/$ Set up.
When you say 'Taking out of the lows'..do u mean 'A close below'? OR..just candle piercing those lows!? If close below..on 'what time frame'!? I presume that a W&R of the monthly Stop Grabber on the 1 hr or 4hr time frame does NOT invalidate the Set Up.!?

Hi Brett,
invalidation comes at the same time frame as pattern has been formed, i.e. monthly. Strictly speaking it should be close below, but I prefer not to deal with grabber patterns if even market has moved below it's lows but later returns right back up again.
Besides, plunge down that we've got yesterday on JPY is a warning factor and we should avoid taking long positions as we've told in video.