Well it was inspired from there lol Added: Just noticed you quoted me for the expanding wedge post. I will drop a post soon regarding the wedge pattern. Not necessary we reverse everytime but reversal have a strong effect. Enough effect to hit $1558 ...

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

I don't know about you guys but I have seen markets move up an hour before bad economic numbers and then come back down. Market moves up in a knee jerk reaction when the data is released and then corrects back down. Just wanted to fish that down ...

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

Seems like stop hunting for the shorts prior to some numbers. Going short here with a tight stop. Let's see how it goes.

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

Hi Cubby, IS the signal arrow repainting for you? I mean I am looking at my exits for that but the arrow is formed on say bar 1 after bar 2 closes. So that is a big difference I believe. Any one having similar issues?

95% winners live test

Too early to call but watchout for this expanding wedge. Reversals from here tend to lead to a strong trend and it usually keeps going in one direction for a long time. The swing low on the open was right on to the wedge bottom line.

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

lol that was quick...low near 1605 on my charts.

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

Thanks for the knowledge but could you give some details as to where to buy or where to sell or something like how to pick a trade based on price action at those lines. Also, I see a 15 min chart...dont the lines lines repaint after every candle? ...

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

True but I am looking at this from an ending diagonal perspective. Anyways I am not looking for much as of now..just 1603.

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

Here is the chart. I read about a rule in elliott wave that wave 3 cannot be the shortest so according to that 1650 will not exceeded.

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

Daily charts make me believe that gold will not break 1650 (if it is) without getting back down to 1603. Lets see about this view. Reason: EW theory 5 waves on the daily completes some patterns.

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

I have got a strong feeling that something should give away this weekend. The markets are closed...the deadline is approaching..and the bankers like to catch people sleeping. For now looking to hit 1635.

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

Turning down from my pennant target area. Will see how it reacts here. Looking to exit around this price is my plan for now. Seems like it can drop back any time. No volume here.

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

Went long @ 1612.10 in search of a double bottom. Expecting demand overnight there. 5 waves up and 5 waves down so nothing significant in that. Stop is in the supply zone at 1605 exactly. Will move stop to break even on a move past 1620. Plus high ...

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

Nice indicator there . Not much downside yet which would make me hit the PANIC button.

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

News Wire: Investor Dennis Gartman is once again adding Gold in EUR and GBP denomination to his portfolio

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

True. Gold has moved up consistently and not extensively. This is not a bubble. The crude oil rally can be called a bubble. Gold has a longer history on being the safe haven than anything else.

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

Thanks beeb. Agree with you on this. Maybe short term money flowing in and out can cause some noise in this long term up trend.

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

Xtrade hope you do not mind me asking this. Back in Aug 2007 gold had dipped to 640 (we never saw that since then). The reason was because portfolio managers were selling off gold to cover their losses on stocks. I know the scenario is way different ...

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

Yes the timing also is different. My channel is a little more steep due to that. Is it my platform or the volume suddenly died out on the last move up (from 1613's to 1620). On the dip every minute had about 48-70 contracts traded and now it shows ...

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

I have a similar long term chart as yours. I have attached it here. The only difference is I dont use bar chart candle sticks. The gap between the 2 red lines has been a selling point and gold comes back to atleast the white line. Vice versa for the ...

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