GOLD PRO Weekly August 12-16, 2013

[dkami]

Thanks for you on going analysis on gold Sive

Today you say on H1 has "current swing down is greater than previous swing up" and "This usually happens during reversals"

But I see same thing has happen on H4 but in opposite direction giving a higher high on H4,so could it be possible that this is just a retracement on H1?

D1 has really been testing my patience as the bearish hidden divergence(I was concerned about some time back) didn't work out giving a lower low and now didn't get the higher high on D1 either

I'm now just going to look into buying on H1 going with the higher high on H4 I see if the RR is there for me

 

[Triantus Shango]

actually, sive, dkami's comment remind me to look at H4. don't we have there some sort of B&B, albeit far from ideal, but could we consider that long candle down under the 3x3 a LAL B&B?

 

[Sive Morten]

Thanks for you on going analysis on gold Sive

Today you say on H1 has "current swing down is greater than previous swing up" and "This usually happens during reversals"

But I see same thing has happen on H4 but in opposite direction giving a higher high on H4,so could it be possible that this is just a retracement on H1?

D1 has really been testing my patience as the bearish hidden divergence(I was concerned about some time back) didn't work out giving a lower low and now didn't get the higher high on D1 either

I'm now just going to look into buying on H1 going with the higher high on H4 I see if the RR is there for me
View attachment 10675

Hi Dkami,
there is no contradiction here. Usually when reversal swing happens market tends to show AB=CD retracement due to existing previous momentum. Thus, deeper swing down on hourly chart could be a sign that this retracement just has started. That in turn will look like reversal down on hourly.

 

[Triantus Shango]

remind me never to trade in the summer again. ;-) i'm out at the 68.1%. can't watch this anymore. hope it all worked out for you guys. ttyl.

 

[dkami]

Hi Dkami,
there is no contradiction here. Usually when reversal swing happens market tends to show AB=CD retracement due to existing previous momentum. Thus, deeper swing down on hourly chart could be a sign that this retracement just has started. That in turn will look like reversal down on hourly.

Hi Sive,

Thanks for your reply,yes this makes perfect sense to me thanks

 

[dkami]

I didn't get the deep retracement on H1 I would have liked,but after price only going to 38.2fib and then breaking back above the 23.6fib I jumped in for the action to comefingers crossed

 

[Fang]

Dear Sive,


Im also trading USD/JPY, may I know what your opinion/analysis for it please? Cheers

 

[D.R.&Quinch]

You lomg? To 1425 or 1499?

 

[Triantus Shango]

ah christ, my mistake! you meant the immediate previous movement up on H4, not the other one further back. please ignore my previous post.

 

[Triantus Shango]

dkami, no offence, but your charts are really hard to read. anyway to make them less dark and more vertically stretched?