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

  • #43,801
  • Oct 6, 2017 11:13am Oct 6, 2017 11:13am
Quoting Visionary
{quote} Fix and overnight rate are set at a particular time of each day. Knowing how to use it will give you a edge, reason being you have money backing you who move the market.
PM Fix is 1261.80, does it means that the price will go back to that price level?
  • #43,802
  • Oct 6, 2017 11:15am Oct 6, 2017 11:15am
Not a trick question just for learning for who want to know. If today we have PA at 1 and tomorrow we have it at 2, what as happen?
  • #43,803
  • Edited 11:31am Oct 6, 2017 11:20am | Edited 11:31am
Quoting xVerdex
{quote} PM Fix is 1261.80, does it means that the price will go back to that price level?
Part of Fixing involve that both parties must be paid. A edge to know. So those that sell at 1261.xx did they get paid? Are is it they still holding their orders? Or will a market cycle clear the buyer's hands first?

Quoting Visionary
{quote} Part of Fixing involve that both parties must be payed. A edge to know. So those that sell at 1261.xx did they get paid? Are is it they still holding their orders? Or will a market cycle clear the buyer's hands first?
I can sell at 1261.xx as a Trader at 1% for 20$ move against me, which mean if PA reach 1281.xx those order are behind by 1% and alpha at 2% and still walk awake with profit on Mid Term cycle correction. One way to cover.
  • #43,804
  • Oct 6, 2017 11:55am Oct 6, 2017 11:55am
"Summing up, the London Gold Market is the crucial market for gold. It is the biggest marketplace for gold in the world by the volume of trade. However the U.S. futures markets may play a slightly more important role in the price discovery. As an over-the-counter market, the London market is less transparent. However, this does not mean that London gold prices are manipulated. The London market is simply structurally different from centralized exchanges. Still, it provides many useful services for the gold investing community."

http://www.kitco.com/commentaries/20...t-or-Myth.html

The tail does NOT wag the dog.

Each day AM fix happens after Asian trading and previous day's U.S. trading, and PM after London trading. Rinse repeat.
  • #43,805
  • Oct 6, 2017 12:04pm Oct 6, 2017 12:04pm
Quoting SunTrader
{quote} What timeframe? And what is an "inverted" Hammer?
It was on the daily time frame. Here is a screenshot, I've encircled the candlestick in question:
Attached Image (click to enlarge)
Click to Enlarge Name: SilverDaily.png Size: 27 KB


The inverted hammer candlestick formation occurs mainly at the bottom of downtrends and can act as a warning of a potential reversal upward. It is created when the open, low, and close are roughly the same price. Also, there is a long upper shadow, which should be at least twice the length of the the real body. If a candlestick that looks like this is situated at the high of an uptrend it would be called a "shooting star" candlestick and it would be a warning of a potential reversal downward.
  • #43,806
  • Oct 6, 2017 12:12pm Oct 6, 2017 12:12pm
Short scalp 1274. Looks like bulls running out of steam.
Charts: XAUUSD/UJ/EU. Tools: stoch/daily pivots/fibo/channels. Scalper.
  • #43,807
  • Oct 6, 2017 12:29pm Oct 6, 2017 12:29pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 77 KB


Selling trendline on H1 chart

So far today we have lower low and lower high, so still bearish isn't it? 1263 is interesting level because its 61.8% on the daily chart.
Charts: XAUUSD/UJ/EU. Tools: stoch/daily pivots/fibo/channels. Scalper.
  • #43,808
  • Oct 6, 2017 12:33pm Oct 6, 2017 12:33pm
Quoting james1254
{quote} It was on the daily time frame. Here is a screenshot, I've encircled the candlestick in question: {image} The inverted hammer candlestick formation occurs mainly at the bottom of downtrends and can act as a warning of a potential reversal upward. It is created when the open, low, and close are roughly the same price. Also, there is a long upper shadow, which should be at least twice the length of the the real body. If a candlestick that looks like this is situated at the high of an uptrend it would be called a "shooting star" candlestick...
Ok I see but there was no follow through ... until today. A day later after making a LL.
  • #43,809
  • Oct 6, 2017 12:36pm Oct 6, 2017 12:36pm
Another London Fix TD Seq Sell 13 winner:
Attached Image (click to enlarge)
Click to Enlarge Name: GC TD Seq 13 Sell.png Size: 69 KB
  • #43,810
  • Oct 6, 2017 12:39pm Oct 6, 2017 12:39pm
And Silver too a TD Seq Sell 13 earlier (3 minute chart for this one):
Attached Image (click to enlarge)
Click to Enlarge Name: SI TD Seq 13 Sell.png Size: 68 KB
  • #43,811
  • Oct 6, 2017 2:21pm Oct 6, 2017 2:21pm
İf W close 1178 _79ish May be...
hammered
  • #43,812
  • Oct 6, 2017 3:07pm Oct 6, 2017 3:07pm
Quoting Traderak
İf W close 1178 _79ish May be... hammered
its already hammered , and gold make new support. now gold will climbing to 1290 as first target.
  • #43,813
  • Oct 7, 2017 2:07am Oct 7, 2017 2:07am
Hello Guys i hope all is well.
this is my first post in GOLD after long long Time,
i bought gold at 1275 at first then hit 1280 first target was looking for 1290 for final target,
but it didn't happen i bought again at 1262 closed 1270 a bit early but felt enough after the NFP.
and after the dust is settled and now i am looking to buy gold again on monday..

will be opening 2 positions 1 for short term buying at dip 1.2766-1268.
and looking for 1275 and final 1290.
Don't compare your Trades with Others
  • #43,814
  • Oct 7, 2017 9:05am Oct 7, 2017 9:05am
Just be mindful that Friday session closes with a lot of momentum up. I would advise if you aren't already in with a position, I would sit on the sideline and watch Mondays price action and see if this was a rally purely based on the short term oversold nature of the pair, or if we will in fact break the downtrend limitation experience in all of sept
  • #43,815
  • Oct 7, 2017 9:19am Oct 7, 2017 9:19am
Quoting Mitchoss
Just be mindful that Friday session closes with a lot of momentum up. I would advise if you aren't already in with a position, I would sit on the sideline and watch Mondays price action and see if this was a rally purely based on the short term oversold nature of the pair, or if we will in fact break the downtrend limitation experience in all of sept
1278$ will be a major resistance, we might still go a bit lower like to 1250$ which will be a good point to enter some bigger long positions
  • #43,816
  • Oct 7, 2017 5:18pm Oct 7, 2017 5:18pm
Wave analysis in my view we may have well completed an ABC (b wave exp flat for EW guys) correction of the larger 4h uptrend. Wait for a good flag or lower level correction to confirm and buying the break of that smaller flag/structure looks like a good idea! Happy trading - next week looking good!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 326 KB
Wave-Trader- Charts as DocHolliday on Tradingview also
  • #43,817
  • Oct 7, 2017 6:38pm Oct 7, 2017 6:38pm
Quoting DocHolliday
Wave analysis in my view we may have well completed an ABC (b wave exp flat for EW guys) correction of the larger 4h uptrend. Wait for a good flag or lower level correction to confirm and buying the break of that smaller flag/structure looks like a good idea! Happy trading - next week looking good! {image}
Looks good except wave C doesn't really break down cleanly into 5 waves (especially a normally strong impulsive minor wave 3 - it's shortest actually and oscillator diverging which as you know can't be), but which happen sometimes. EW is never 100% so it might not be a big deal. As is often the case only will know in retrospect but I'm thinking probabilities say correction hasn't completed yet.
Attached Image (click to enlarge)
Click to Enlarge Name: SI correction.png Size: 43 KB
  • #43,818
  • Oct 8, 2017 2:04am Oct 8, 2017 2:04am
There is hope for the Gold bulls. Wave "ii" have reached the 62%-correction of wave "i".

Sixer
Attached Image
  • #43,819
  • Oct 8, 2017 7:06am Oct 8, 2017 7:06am
Quoting SunTrader
{quote} Looks good except wave C doesn't really break down cleanly into 5 waves (especially a normally strong impulsive minor wave 3 - it's shortest actually and oscillator diverging which as you know can't be), but which happen sometimes. EW is never 100% so it might not be a big deal. As is often the case only will know in retrospect but I'm thinking probabilities say correction hasn't completed yet. {image}
Thanks for the view SunTrader -- will be fun to see how it develops/ continues. -- Happy Trading!
-- Doc
Wave-Trader- Charts as DocHolliday on Tradingview also
  • #43,820
  • Oct 8, 2017 7:16am Oct 8, 2017 7:16am
Quoting Sixer
There is hope for the Gold bulls. Wave "ii" have reached the 62%-correction of wave "i". Sixer {image}
I prefer simple 1/2/3/4/5 and A/B/C counts instead of "fitting" a wave count to just have a wave count ..... of W's and X's and Y's. Just sayin'.
Otherwise appreciate the viewpoint.
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