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

  • #6,381
  • May 12, 2011 9:19pm May 12, 2011 9:19pm
long from 34.425. tp 35.3
  • #6,382
  • May 12, 2011 10:01pm May 12, 2011 10:01pm
Quoting ruffryders
http://www.tradejuice.com/gold-oil/i...r_oil_gold.JPG

http://goldseek.com/news/EricHommelb...s/7-19eh/3.JPG

http://goldseek.com/news/EricHommelb...s/7-19eh/3.JPG

No debate just facts. Also if reputable clearance houses use this relationship for purposes of their trading, that also gives you some idea. The hedge fund, which I worked for some years ago also used this in their quantitative forecasting models.

So there is no reason to run hypothesis and t-tests on whether or not there is...
please tell us in which site you got these charts
Trading by EA
  • #6,383
  • May 13, 2011 12:10am May 13, 2011 12:10am
http://img844.imageshack.us/img844/2397/goldlines.png

I like to keep it very simple for trading purposes. closing above 1509-1515 of at least H4 candle - good signal to go long. Currently unless we break the zone, I can't see a reason to go long - not much volume and not much trading done, so for right now Ill wait for momentum to pick up before taking a trade.

I took the graphs off golden eagle.
  • #6,384
  • May 13, 2011 3:13am May 13, 2011 3:13am
Anyone see the reverse H&S on the silver 30 min chart. Where is she going next?
  • #6,385
  • May 13, 2011 3:23am May 13, 2011 3:23am
Though not in trade here like eu did yet gold looks like very abnormal to me . any good idea got ?

fontu
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 11 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #6,386
  • May 13, 2011 3:26am May 13, 2011 3:26am
Quoting highlander2
My charts have closed, and i will take the trade. pending buy stop at 1508.5 (break of pin bar high)and and SL at 1485. Targeting some where up at 1555-1575 area- will probably scale out.
That was a great call! You caught it and it seems that the pin bar will work very well for you. We are already at 1515.
"The reason I was born and came into the world is to testify to the truth."
  • #6,387
  • May 13, 2011 3:27am May 13, 2011 3:27am
Quoting M504
Anyone see the reverse H&S on the silver 30 min chart. Where is she going next?
Well here's a link to a 20 min SI chart - black fork is in tune but the big yellow downfork still holding sway imo...

http://www.screencast.com/t/pRKwsZURR4S

beeb
  • #6,388
  • May 13, 2011 3:27am May 13, 2011 3:27am
Quoting hamada67
I am very novice and can not understand what drives the gold prices up and down, and what is the best to predict the direction of the market? can anyone help.
Read the entire thread. It will help a lot.
"The reason I was born and came into the world is to testify to the truth."
  • #6,389
  • May 13, 2011 3:28am May 13, 2011 3:28am
gold locked in range of WP & MP, so unless H4 candle clears it, no trade for me. Lets see if NYO can clear things up, however still 4 hours to go. Also by looks of PA crude oil wants to retest WP.
  • #6,390
  • May 13, 2011 3:29am May 13, 2011 3:29am
Quoting fontu
Though not in trade here like eu did yet gold looks like very abnormal to me . any good idea got ?

fontu

fontu - check post #6498

beeb
  • #6,391
  • May 13, 2011 3:51am May 13, 2011 3:51am
adr on gold is 26, so still has got plenty of room to go once wp/mp is cleared
  • #6,392
  • May 13, 2011 3:52am May 13, 2011 3:52am
thx for the input all. Gold and silver look very similar to the eur/usd. Charts look like all should continue north which supports fundamentally the dead cat bounce down in the usd and the double bottom the metals have put in. Silver is really clean from 49+ to 33 and 32.xx since end of april crash.


Thinking of just grabbing like gold until ny open and trying to get a few quick bucks on this. then worry about longer term trades later, i'm a big bull for the metals in the next month+.
  • #6,393
  • May 13, 2011 3:54am May 13, 2011 3:54am
Quoting M504
Anyone see the reverse H&S on the silver 30 min chart. Where is she going next?
yup i think the next bounce is 1408.35 and this is good time to buy to 2nd leg of head and shoulder i m not predicting market here but just opinion
Trading by EA
  • #6,394
  • May 13, 2011 3:56am May 13, 2011 3:56am
Quote
Thinking of just grabbing like gold until ny open
why actually not wait until mp/wp is cleared that prolly wont happen until NYO anyway, so kinda better option is 1517.30 and set SL @ MP once it's cleared and TP at 1501+26 = 1527, that kinda yield better r/r in my books.
  • #6,395
  • May 13, 2011 4:00am May 13, 2011 4:00am
Quoting beeb
fontu - check post #6498

beeb
Thanks but still not understand myself as not accumstomed with the type of analysis . ok seems some basis there .


can be a 50% fib Gator,s mofu action here in higher charts , messy though & from daily lower wick it seems wave b actually needs more correction than before & before further down to c afresh as if due this wick c did not happened in reality.

anyway will look at b top present 1526,70 how react & can cope more retracement or double top to down heavy again.suggesting more ranging than any simple movements here in gold .

thanks ,
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 13 KB
Click to Enlarge Name: eu2.gif Size: 10 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #6,396
  • May 13, 2011 4:17am May 13, 2011 4:17am
Quoting fontu
Thanks but still not understand myself as not accumstomed with the type of analysis . ok seems some basis there .


ummm....it's two touches on a line....i don't think it could be much simpler

beeb
  • #6,397
  • May 13, 2011 4:19am May 13, 2011 4:19am
Quoting ruffryders
adr on gold is 26, so still has got plenty of room to go once wp/mp is cleared

sorry to have to ask you to explain again but what is "wp" and "mp"

thanks

beeb
  • #6,398
  • May 13, 2011 4:23am May 13, 2011 4:23am
weekly and monthly pivot
  • #6,399
  • May 13, 2011 4:24am May 13, 2011 4:24am
Quoting beeb
sorry to have to ask you to explain again but what is "wp" and "mp"

thanks

beeb
Beeb,

I think he means weekly pivot and monthly pivot.
  • #6,400
  • May 13, 2011 4:30am May 13, 2011 4:30am
thanks
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