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

  • #881
  • Jul 7, 2010 8:13pm Jul 7, 2010 8:13pm
I see the next hurdle as 1214.4 which is/was

last break low
38.2% fib (1265H:1184L)
near 45DMA

If we can get over that then i reckon the down trend is deneuralized.

I see JPY is finally back over 88.
I have no enemy; I make Incautiousness my Enemy.
  • #882
  • Jul 7, 2010 11:23pm Jul 7, 2010 11:23pm
Seems to have rejected 1185 zone thus far.

Looking pretty now at 1205

Buyers may like to see a lower price , yet this MAY or MAY NOT happen!

GOing to look back at charts for a minute and browse the news.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #883
  • Jul 7, 2010 11:28pm Jul 7, 2010 11:28pm
We could face rejection at this level

Quoting jimobiwan
I see the next hurdle as 1214.4 which is/was

last break low
38.2% fib (1265H:1184L)
near 45DMA

If we can get over that then i reckon the down trend is deneuralized.

I see JPY is finally back over 88.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #884
  • Jul 7, 2010 11:55pm Jul 7, 2010 11:55pm
Quoting jimobiwan
I see the next hurdle as 1214.4 which is/was

last break low
38.2% fib (1265H:1184L)
near 45DMA

If we can get over that then i reckon the down trend is deneuralized.

I see JPY is finally back over 88.
1213/4 Area... Yup
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  • #885
  • Jul 8, 2010 12:04am Jul 8, 2010 12:04am
Look for BREACH and hold as we have seen with 1200 or short setups.

Hold the trigger lite.

Only enter if the market begs.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #886
  • Jul 8, 2010 12:11am Jul 8, 2010 12:11am
Furthermore, if 1214 is taken and held. then we climb the ladder.

1245
1250
1260
1265

Breakout. to 1300 or 1350 over a few days OR for shorts we test 1168.

Selling gold and other commodities is a tired trade from last week as we see this week.

Also LOOK for Higher Brent and LS Crude - Saudi Arabia benefits from USD based OIL - to purchase other items like GOLD. Whom I might add has Doubled their reserves in AU.

There are other competitors in this Game besides China. If they want to wait, to buy more so be it.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #887
  • Jul 8, 2010 12:52am Jul 8, 2010 12:52am
The weekly chart (shown below) that I originally posted on July 5 still has technical validity in my view.
In fact, since that chart, Gold has only made strong momentum moves down and sluggish retraces up.

I'm looking for confirmation of another big move down today.

Rob
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Attached Image
  • #888
  • Jul 8, 2010 2:11am Jul 8, 2010 2:11am
Rob,

Yes your chart does have technical validity!

We could easily see a correction to the aforementioned levels of 1168 or lower 1050.

Yet,

If GOLD stages a comeback here at the stake line beware.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #889
  • Jul 8, 2010 2:16am Jul 8, 2010 2:16am
If the price of gold is rejected here at 1203 and the US session further adds
to range or rejection we will hit 1168 or 1150.

BIAS:
neutral medium term
bearish short term
bullish long term
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #890
  • Jul 8, 2010 2:19am Jul 8, 2010 2:19am
why don't you take this trade???

I have been shorting gold but I stop at levels feel are important.

Our TA differs, but Why not short from 1250/00 then?



Quoting priceaction
The weekly chart (shown below) that I originally posted on July 5 still has technical validity in my view.
In fact, since that chart, Gold has only made strong momentum moves down and sluggish retraces up.

I'm looking for confirmation of another big move down today.

Rob
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #891
  • Edited 2:30am Jul 8, 2010 2:29am | Edited 2:30am
I think your charts are wrong also. going to chart
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #892
  • Jul 8, 2010 2:32am Jul 8, 2010 2:32am
Quoting XTrade
why don't you take this trade???

I have been shorting gold but I stop at levels feel are important.

Our TA differs, but Why not short from 1250/00 then?
I have taken it
Short at 1204.3
  • #893
  • Jul 8, 2010 2:42am Jul 8, 2010 2:42am
Rob,

the 4 hour chart is perfect. Great posts and I love the gold bullion you have in the vault for me Thank you!

Will be posting the BUY side of this trade and working on my weekly
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #894
  • Jul 8, 2010 2:51am Jul 8, 2010 2:51am
Quoting XTrade
Rob,

the 4 hour chart is perfect. Great posts and I love the gold bullion you have in the vault for me Thank you!

Will be posting the BUY side of this trade and working on my weekly
It's been fun trading Gold this week. I've never bothered with it before.
Looking forward to your charts. In the meantime, let's see whether it gains enough momentum to reach 1185 today ...or not, as the case may be

Rob
  • #895
  • Jul 8, 2010 3:09am Jul 8, 2010 3:09am
do you suppose it will have to drift all the way back to 1185 to find buyers lurking?

Yesterday;s range was smaller than a normal day range so I;m thinking there is nothing between here (technical i mean) and yesterday;s DL.

Any ideas?
I have no enemy; I make Incautiousness my Enemy.
  • #896
  • Jul 8, 2010 3:19am Jul 8, 2010 3:19am
Quoting priceaction
It's been fun trading Gold this week. I've never bothered with it before.
Looking forward to your charts. In the meantime, let's see whether it gains enough momentum to reach 1185 today ...or not, as the case may be

Rob

Thank you,

But if it could reach 1185 today, would you buy ?

TKS
  • #897
  • Jul 8, 2010 3:24am Jul 8, 2010 3:24am
J-

hold tight US is not open yet _8:00 am for FX and 9:30 for stoX when the stock exchange opens the shit starts to hit the fan.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #898
  • Jul 8, 2010 3:27am Jul 8, 2010 3:27am
Quoting learntowin
Thank you,

But if it could reach 1185 today, would you buy ?

TKS
No I wouldn't; because of the way the weekly looks.

1185 would be my 1st target. I must admit that my time is limited today (I have to go out now) and I have too many other trades on to consider other targets. I need to take a closer look at the charts; tonight perhaps.

I would need to see some good bullish momentum at a previous demand level to persuade me that the long term upward trend has corrected.

Good luck today

Rob
  • #899
  • Jul 8, 2010 3:32am Jul 8, 2010 3:32am
Quoting priceaction
No I wouldn't; because of the way the weekly looks.

1185 would be my 1st target. I must admit that my time is limited today (I have to go out now) and I have too many other trades on to consider other targets. I need to take a closer look at the charts; tonight perhaps.

I would need to see some good bullish momentum at a previous demand level to persuade me that the long term upward trend has corrected.

Good luck today

Rob

Thank you very much,

Me, I already bought

https://www.kitcomm.com/showthread.php?t=29770&page=375

TKS
  • #900
  • Edited 3:52am Jul 8, 2010 3:39am | Edited 3:52am
Rob -

My Test of TL in older posts which i will hyperlink HERE for - chart - you should be good,

But Gold is funny and they say it ain't money? well!!!!

The charts are great until news breaks which always happens.

Let's take a look at todays Hefty Rack again!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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