GOLD PRO Weekly July 29 - August 02, 2013

[dkami]

don't see any divergence on daily.

This is the pic I attached about a week back just after getting out of my long

 

[Triantus Shango]

that's not a divergence. not yet. at least not in my book. i'd ignore it. re-read sive's analysis.

btw, we are having one hell of a squeeze on the short TFs. maybe today's move will be face ripping!

This is the pic I attached about a week back just after getting out of my long
View attachment 10527

 

[Triantus Shango]

2 hours left to go until the major news releases at the north american open. a good time to sit on hands.

 

[dkami]

that's not a divergence. not yet. at least not in my book. i'd ignore it. re-read sive's analysis.

btw, we are having one hell of a squeeze on the short TFs. maybe today's move will be face ripping!

Everyone looks @ indicators differently and there's nothing wrong with that and from what I can work out and I don't follow Sive all that often but Sive just uses the MA's on MACD to give the hidden divergence and I agree the MA's giving the divergence is a much stronger signal than just the histogram and both the MA's and histogram together is even a more stronger signal in my book but me I use both MOM and MACD to give hidden divergence

But as Sive replied in one of my post's you can just use the histogram if I recall correctly,either way @ close of this D1 the MA's will have crossed give the hidden divergence now anyway!

I ignore nothing and take what I see as a warning sign or signal!

 

[Triantus Shango]

fine. would you care to tell us what your definition of divergence is please?

my MACD on daily with DiNapoli parameters does not show any divergence. also, divergence appears and disappears depending on the periods the indicator is set to compute over. all i can see from your chart, is that MOM and MACD is going up, the other indicator i cannot makeout, the chart window is too squeezed vertically, it's hard to see properly.

my concern also is regarding the time span you are using to compute this. we have a time pivot at where the major low occurred. IMHO this resets the system. indicator patterns that are meaningful should be identified after that time point for M1 up to daily charts, but not longer TFs. meaning, the context we are looking at on daily goes as far back as that low. beyond that, then i would look at weekly and monthly.

so based on this, all we can see on daily is basically a continuation (up to now) of the downtrend as market is keeping below that trend line, and the up move from the low was just a retrace, not a reversal.

divergences are useful to pinpoint potential beginnings of reversals <-- sorry my mistake--not reversals, but retracements.

also, on daily, market is falling from interim top as defined by trendline connecting with the higher tops on the left of chart. we don't have any signs of a reversal under way here on daily, yet. nor do we have a sign of further retracement within the context of the drop from the highs, which is the time frame you are referring to since you take into consideration the lower highs on your indicators and the higher market price compared to the lower market price after the historical low.

but if we use the historical low as the start of the context for daily and below TFs, we have reversal underway of the bounce from that low, and within context to the left of historical low, we have continuation of bearish drop from historical high.

wrong sentence again, sorry --> [[by reversal, i mean in the context of the daily chart, reversal of the down move from the historical high.]] (drinking beer, what can i say? ah screw it ... too many words to explain what chart simply shows. good luck.

Everyone looks @ indicators differently and there's nothing wrong with that and from what I can work out and I don't follow Sive all that often but Sive just uses the MA's on MACD to give the hidden divergence and I agree the MA's giving the divergence is a much stronger signal than just the histogram and both the MA's and histogram together is even a more stronger signal in my book but me I use both MOM and MACD to give hidden divergence

But as Sive replied in one of my post's you can just use the histogram if I recall correctly,either way @ close of this D1 the MA's will have crossed give the hidden divergence now anyway!

I ignore nothing and take what I see as a warning sign or signal!

 

[dkami]

Correct way I see it too there is no reversal yet as the high on D1 was not broken hence the bear hidden divergence I see which is a continuation,whether it plays out and makes a lower low is any ones guess as on W1 I have it way in oversold and am waiting for the retracement up to perhaps 1562 area that's why I'm looking for buy signal on H4 like my last trade but unfortunately for me it didn't play out like I would have hoped giving the higher high on D1 letting me add to my position

I don't have DiNapoli indicators and therefore I don't follow DiNapoli rules hence the reason I find it hard to follow sive and only on odd occasions I read Sives anaylisis

The system,setup what ever you wish to call it I use allows me to just use the MACD histogram and the MOM to give me an entry for hidden divergence everyone's system is different and that's fine what ever works for your system,no system is 100% as news ect. can rip to threads anyone's technical analysis

 

[Triantus Shango]

that's right. everyone system if diff, pros & cons everywhere.

re the DiNapoli tools, there is a way to get the MACDPredictor for MT4. i have it and it's floating online somewhere as well. the rest is just SMA displaced by 3, 5, and 7 periods. the DOSC is also available for MT4. i was able to get those, so you should be able to get them too.

also, i was gonna say to all those who read this, never underestimate the power of harmonic patterns. although i am kidding a little because to be honest, i wasn't sure that that bat BUY on M30 would actually work out. the pattern alone is probably not sufficient. and that's why the market stays interesting and ever challenging.

anyway, hope you are having a good day and great weekend all.

Correct way I see it too there is no reversal yet as the high on D1 was not broken hence the bear hidden divergence I see which is a continuation,whether it plays out and makes a lower low is any ones guess as on W1 I have it way in oversold and am waiting for the retracement up to perhaps 1562 area that's why I'm looking for buy signal on H4 like my last trade but unfortunately for me it didn't play out like I would have hoped giving the higher high on D1 letting me add to my position

I don't have DiNapoli indicators and therefore I don't follow DiNapoli rules hence the reason I find it hard to follow sive and only on odd occasions I read Sives anaylisis

The system,setup what ever you wish to call it I use allows me to just use the MACD histogram and the MOM to give me an entry for hidden divergence everyone's system is different and that's fine what ever works for your system,no system is 100% as news ect. can rip to threads anyone's technical analysis

 

[forex-amplified]

how can i help in this thread. i am a regular visitor of sive morten's analysis and i really like his way of thinking. i like to learn his and all other professional trader's way of thinking when the enter in a trade. i hope this section will help me and others.

 

[Gennietrader]

Thank you Sive for your great analysis!!
I've been lurking around and really don't know whether I should go for gold investment or currency...