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

  • #16,521
  • Feb 20, 2012 10:27pm Feb 20, 2012 10:27pm
Hi everyone, I'm long from 1,735.85 now moved SL to BE. Target is R2. 1,745.00 see Chart H1
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  • #16,522
  • Feb 21, 2012 2:04am Feb 21, 2012 2:04am
Quoting fuse
Hi everyone, I'm long from 1,735.85 now moved SL to BE. Target is R2. 1,745.00 see Chart H1
I've closed most of my position. Left some to see if price will continue otherwise will close it out at breakeven, and look to go short on break of trendline. Chart H1
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  • #16,523
  • Feb 21, 2012 2:17am Feb 21, 2012 2:17am
Hi,

Sorry for talking about Oil in our Gold thread, but I have a technical question,
can this be considered as H&S taking into account the gap ?

Thx,

W
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  • #16,524
  • Feb 21, 2012 3:12am Feb 21, 2012 3:12am
Quoting Walt
Hi,

Sorry for talking about Oil in our Gold thread, but I have a technical question,
can this be considered as H&S taking into account the gap ?

Thx,

W
Hi Walt
To me the H&S look good, shoulders being similar height & distance etc, but the gap would turn me off before I analysed it further. ...However, as gaps do tend to get filled eventually (unless they are due to a broker's feed not encompassing weekend moves), that would give weight to a short trade. I am not sure if the gap invalidates it or not sorry, maybe someone more experienced can help here, but to me there is enough uncertainty to pass it by.

Sorry I'm not more helpful!
cheers
Cath
  • #16,525
  • Feb 21, 2012 3:22am Feb 21, 2012 3:22am
Quoting CathS
Hi Walt
To me the H&S look good, shoulders being similar height & distance etc, but the gap would turn me off before I analysed it further. ...However, as gaps do tend to get filled eventually (unless they are due to a broker's feed not encompassing weekend moves), that would give weight to a short trade. I am not sure if the gap invalidates it or not sorry, maybe someone more experienced can help here, but to me there is enough uncertainty to pass it by.

Sorry I'm not more helpful!
cheers
Cath
Thanks for your reply, I'm not trading Oil, so this is just a technical question, just curious how this can be analyzed taking the gap into consideration, wondering if the gap can be perceived as an impulse wave or if it's something else. Just curious

Thank you for your input,

Best,

W
  • #16,526
  • Feb 21, 2012 3:28am Feb 21, 2012 3:28am
No worries, it's good to make me think about these things too
And I took an awful long time to say "i don't know", but thanks for making me think!
  • #16,527
  • Feb 21, 2012 3:36am Feb 21, 2012 3:36am
Quoting fuse
look to go short on break of trendline. Chart H1
I am looking to short as well. Actually I am surprised that the gold price did not increase stronger today after the Greek bailout (I expected the USD to fall).
  • #16,528
  • Feb 21, 2012 3:58am Feb 21, 2012 3:58am
Quoting lilpip
Im with ya the trend is up.
shes showed us 1700 and she showed us 1760.
she showed us a weekly close @ 1721 and been up from there.
Yeap, and it looks like she's gonna stay above 1721. the wave structure is suggesting that after the correction to 1725-1726 gold is projected to hit 1750. timewise, correction is gonna end in 15-17 hours from now.
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Lehman Sisters Wouldn't Have Failed
  • #16,529
  • Feb 21, 2012 5:25am Feb 21, 2012 5:25am
This is getting aggravating now
  • #16,530
  • Feb 21, 2012 5:31am Feb 21, 2012 5:31am
hi friends,
i'm from italy..

first time posting here
i've been trading fx for 3 years,
last year my brother told to me to take a look at gold!
wow! loving it..

i've a question: there someona trading gold with renko?

i use 6 "TF": 50cents, 1,2,3,4,5 $ / renkobrick

this is the 5$ TF:



price has just broken descending TL..

let's see

p.s. very thank to all of you!!
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  • #16,531
  • Feb 21, 2012 5:37am Feb 21, 2012 5:37am
Quoting HotBiscuits
This is getting aggravating now
YES!

we are hitting weekly resistance now. if the 4h candle closes below maybe another try to short
  • #16,532
  • Feb 21, 2012 6:21am Feb 21, 2012 6:21am
Not sure why or rather where you are looking to short to?

If the price takes out 1760 to come the range will be broken bullish.

So far a bearish break has failed to test even 1715
thus, consider
1700/05 to 1760
pivot - middle - "gray area" = 1735 may turn support on test.

Quoting fibbonix
YES!

we are hitting weekly resistance now. if the 4h candle closes below maybe another try to short
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,533
  • Feb 21, 2012 6:24am Feb 21, 2012 6:24am
No problem, black gold is always welcome,

It may look good,

but keep in mind Iran has recently implied sanctions on oil which is needed to make gas.

The price could continue and you need to follow the news right now Things like this will trump technicals no matter what..

This also is likely helping the Gold price.

Here's a link


http://nvonews.com/2012/02/21/oil-an...ttack-threats/
Quoting Walt
Hi,

Sorry for talking about Oil in our Gold thread, but I have a technical question,
can this be considered as H&S taking into account the gap ?

Thx,

W
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,534
  • Feb 21, 2012 6:29am Feb 21, 2012 6:29am
be aware of this.

It is a possibility. I explained here.

http://www.forexfactory.com/showthre...47#post5397047


potential Weekly bullish flag.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,535
  • Feb 21, 2012 6:34am Feb 21, 2012 6:34am
Silver looks to be wanting a break north also.

Testing the 33.90s

Be careful watch the headlines.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,536
  • Feb 21, 2012 6:45am Feb 21, 2012 6:45am
Quoting XTrade
Silver looks to be wanting a break north also.

Testing the 33.90s

Be careful watch the headlines.
Where do you see realtime gold news from?
  • #16,537
  • Feb 21, 2012 6:54am Feb 21, 2012 6:54am
A.M. Kitco Metals Roundup: Comex Gold Firmer Amid Greek Debt Deal, Weaker U.S. Dollar, Higher Crude Oil
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,538
  • Feb 21, 2012 7:37am Feb 21, 2012 7:37am
Silver
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,539
  • Feb 21, 2012 7:42am Feb 21, 2012 7:42am
This looks like it may have some legs. Look for a breach on 1760 for further topside confirmation.



Quoting XTrade
If we look this short term then the chart becomes a 60 USD range as I mentioned before.

So - current price is 1735 middle
Top 1760 appx
Bottom 1700/05


Friday's loss is now erased which would to me at least suggest testing the immediate resistance at 1760 next there is always a possibility of a small correction.
Attached Image(s) (click to enlarge)
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,540
  • Feb 21, 2012 7:43am Feb 21, 2012 7:43am
Quoting XTrade
This looks like it may have some legs. Look for a breach on 1760 for further topside confirmation.
Do you think a breach of 1760 could be confirmation of a bull market?
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