GOLD PRO Weekly April 01-05, 2013

[Sive Morten]

Hello Sive,

First I would like to say that I am enjoying your analyses very much. They are very interesting.

I would like to ask you what you think of this pattern?

Hi
Well, currently it is not as relevant as yesterday I suppose, but for me this pattern is too extended, choppy and does not have clear wings. It depends on what do you see with this - "222" Buy"? I'm not sure that I would treat this action as any pattern of such kind at all.

Hi Sive,
May I mention that the two charts with today's Gold analysis are both charts for EUR/USD??
As usual - many thanks for your daily guidance.

Heh,
How you were in time to catch it? I've changed them on gold charts with few seconds

 

[Thai_trader]

I very much appreciate your analysis on gold and have been looking over them for weeks now. I was hoping you would clarify some of the terms you use. You use many acronyms that I have a hard time figuring out.

What is W&R and B&B?
What is K-resistance, support, area?


I'm guessing that WPS1 and MPP is Weekly Pivot Support 1 and Monthly Pivot Point. Is that right?


I think if I have a better understanding f the terms you use then I would get greater benefit from your analysis.

Thanks again for your analysis and your time on this matter.

 

[D.R.&Quinch]

Wash and rinse. Bread and butter. Read joe dinapoli book for full explanation.

 

[D.R.&Quinch]

K is alk about confluence of fibs drawn from different reaction points in price action. F3 and f5 most significant to Joe D

 

[D.R.&Quinch]

Yes correct on abbreviations

 

[Thai_trader]

Wash and rinse. Bread and butter. Read joe dinapoli book for full explanation.

got a link?

 

[Sive Morten]

About W&R you can read in our forex military school. In fact, this is failure breakout, particularly speaking - washing some levels from orders that were placed around it.
Also you may find a lot of explanations of B&B, if you use context search here. B&B is a kind of impulse move, when after solid trend market shows retracement - you use it to enter with the direction of the trend.