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Gold Gold Daily Video, September 19, 2019

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, Sep 19, 2019.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Good morning,

    Gold shows no upside breakout and this gives us reason to keep major daily bearish scenario with 1450-1460 target by far:





    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.
     
    chalo, Tchurik, sveckar22 and 3 others like this.
  2. ED SCHAFFER

    ED SCHAFFER Private, 1st Class

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    Sive is absolutely correct in advocating for a "stand aside" trading stance in XAU for overnight swing traders right now. Good overnight swing traders, in my view, will spend more time just "sitting on their hands" & analyzing their trading markets whilst waiting for good trade setups to materialize than traders who are mindlessly trading constantly. Many years ago I used to belong to a derivative trading club here in Toronto where I live & we would meet once a month to learn about & to discuss trading topics. At the club I personally meet a new club member who I quickly learned was literally addicted to trading. That is he had to be holding trading positions in one or more tradeables at all times, even overnight. This guy would be constantly badgering me for more new trading ideas. Apparently my few good trading ideas I gave him were not enough for him because before long he had dropped out of the club presumably due to trading losses. The moral of this story is to mindfully take only good valid trade setups rather than just "shooting in the dark" & hoping all your trades will somehow magically work out profitably. Establish good trade setup criteria first before you trade. Be disciplined & be in control over your trades & have logical trade stop loss / trade invalidation / trade ruination points established beforehand. Hope this helps. Cheerio.
     
    minimax and Sive Morten like this.
  3. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Golden words, Ed.
     

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