Gold daily video, October 17, 2017

[Sive Morten]

Good morning,

Gold market gives two attractive setups for trading and we will follow them within 1-2 weeks probably:





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.

 

[Rabul]

Referring to your DXY research where USD should strengthen significantly even up to 101 level before finally giving up for good I wonder if we should look for even lower levels for gold entry? Perhaps below 1250 area where bears may even challenge those keeping positions from 1200 level?

 

[Sive Morten]

Referring to your DXY research where USD should strengthen significantly even up to 101 level before finally giving up for good I wonder if we should look for even lower levels for gold entry? Perhaps below 1250 area where bears may even challenge those keeping positions from 1200 level?

Well, actually, it is possible. Mostly we're watching for "deep" AB-CD down, but "deep" could be different. Not neccesary AB=CD, but 1.27 or even 1.618. And "222" will be still valid...
Still, the speed of different assets usually is different, if even they move in the same direction...