Daily gold shows a potential to reverse here with Fibonacci and RSI trend line support (blue). Any move up would also pull up RSI maintaining inflection point 50, but gold hasn't broken RSI resistance in any mid-term time frame (except for a minor ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Oh, right, it's Hallowe'en! I've got two pumpkins to carve and I haven't bought any candy yet. Clearly the rest of the world is in a similar fix which explains why there is less than 0.05% movement anywhere. Spooky.

Davit's Confluence Trading

Since nothing is happening, here are my charts for NZD/USD which made a 100% retracement of the previous move. Similar to AUD/USD, daily RSI has bounced off support. image The 2-hour chart has broken RSI resistance with well-defined support. Price ...

Davit's Confluence Trading

On nothing new from the FOMC yesterday, markets go crazy. On US jobless claims below expectations nothing happens. Nothing at all -- the markets are eerily dead as if we're waiting for something to happen. Is it a holiday and no-one told me? Did New ...

Davit's Confluence Trading

It will depend on what happens after US jobless claims, but this appears be strong support for EUR/USD. Price is sitting on the median ascending trend line and the 50% Fibonacci of the last move up which is also a prior high. Daily RSI is also at ...

Davit's Confluence Trading

Though it's a bit premature, GBP/USD has hit daily RSI and price trend line support, and the 1.60 area has definitely proven to be supportive in the past. I believe 80 is the top for the US Dollar index so this is a likely where Cable will turn ...

Davit's Confluence Trading

After the crazed (dare I say, manipulative) reaction across the board FOREX-wise yesterday to the FOMC reiterating that nothing has changed and nothing will change, a few days of sanity needs to return to the markets for me to make reliable entries, ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Though I'm not happy about where AUD/USD is with regard to price trend lines, daily RSI has confirmed the bounce from support and it does have confluence with Fibonacci for the move up over the last month. It has (essentially) remained above ...

Davit's Confluence Trading

If you're not familiar with H. P. Lovecraft's horror fiction (Cthulu), here's the key relevant section from the Wikipedia entry: ...sounds like a daytrader to me.

Davit's Confluence Trading

Over the years the economic calendar has become a sort-of Lovecraftian monster, slowly eating away at my sanity. Despite knowing how the market works, my rational mind still recoils when I see my charts --all of them -- go crazy in reaction to the ...

Davit's Confluence Trading

I imagine it would have been pretty hard to find a dealer willing to sell either silver or gold at so far below what their cost must have been a few months ago. If silver breaks above I'd certainly consider buying more on a pullback to resistance ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

The situation with gold hasn't changed as far as I'm concerned. It's still butting up against the long-term descending resistance and it needs to break through or be firmly rejected. FOMC saying AGAIN that no, seriously, they really are not tapering ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

My observation for a small scalp from when I woke up briefly last night didn't pan out. Drawing a Fibonacci for the entire move from $1,310 - $1,345 my next entry target (had I been awake) would have been gold withdrawing to the 23.6% which ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I haven't posted in a while. I took a long weekend for myself after I made my profit mid-week and since then virtually all of my upside targets were hit (without me for the most part) though I was wrong about the top for Aussie and Kiwi. Now I need ...

Davit's Confluence Trading

I just woke up to eat and relax before returning to bed, but I thought I would note that the Professional Charts (name of the web-based charting software) I use on my old laptop (NetDania won't work on it anymore) to keep an eye on things while I'm ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Without knowing your system or how you choose your entry point, with $1,370 as a stop loss I'm going to guess that is based on Fibonacci and/or prior highs in which case I'd suggest you place your stop at $1,376, just above the August 18th high as ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Weekly (not shown), gold is approaching 50 RSI, possibly when price hits the descending trend line (red on the daily below). The mid-line (blue) is my target for a "real" pull-back, doubly so if it coincides with descending resistance (red) and ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Price seems to be drifting up in both gold and silver implying the day may end with a wick-less candle so you'll likely have a chance to get out without or at worst a very minor loss or at least place a reasonable stop if you want to maintain your ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Just last week I demonstrated a clear example of how retail traders can profit by properly identifying an instance of manipulation. If you want to ignore the same situation should it arise again as predicted just before the middle of this coming ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Who agrees with what, exactly? With the exception of the content of your own hyperbolic comments you are both complaining about non-existent posts. No-one is blaming manipulation for their losses (the fellow with the criminal broker ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread