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

  • #6,481
  • May 16, 2011 7:15am May 16, 2011 7:15am
Quoting beeb
critical area for silver - if you put in an upfork you'll see we're just above LP

beeb
Like this one.
walking out the side of the fork and into an up trender.
Fits in better with what I am seeing it gold.
Attached Image
  • #6,482
  • May 16, 2011 7:19am May 16, 2011 7:19am
Quoting six gun
Like this one.
walking out the side of the fork and into an up trender.
Fits in better with what I am seeing it gold.

easier to see on a 20min

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

beeb
  • #6,483
  • May 16, 2011 8:12am May 16, 2011 8:12am
Price is looking to pop 1500....

Euro just got a boost as well as aussie.

I'd like to see at least a run on 1507 today.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,484
  • May 16, 2011 8:17am May 16, 2011 8:17am
usdx took a small drop too. positive for PM's. hope we can hold these gains into the daily close. need to build up some confidence for the bulls.

@beeb, hows your fork looking now?

Quoting XTrade
Price is looking to pop 1500....

Euro just got a boost as well as aussie.

I'd like to see at least a run on 1507 today.
  • #6,485
  • May 16, 2011 8:23am May 16, 2011 8:23am
Quoting Mitchoss
usdx took a small drop too. positive for PM's. hope we can hold these gains into the daily close. need to build up some confidence for the bulls.

@beeb, hows your fork looking now?

mitch

the moves on the 240min are too small at the moment - it needs to exceed 1520 to prove anything........

on a 20 min that i'm watching it's doing exactly as expected....getting above and remaining above 1502 would be a good start...

1484 ish is the downside area i'm initially cautious about

beeb
  • #6,486
  • May 16, 2011 8:25am May 16, 2011 8:25am
Quoting XTrade
Price is looking to pop 1500....

Euro just got a boost as well as aussie.

I'd like to see at least a run on 1507 today.
must be a row of sells at 1497. Each time price gets up there it gets a knock back.
But we are getting higher lows so something has got to give.
  • #6,487
  • May 16, 2011 8:29am May 16, 2011 8:29am
Inserted Video
  • #6,488
  • May 16, 2011 8:29am May 16, 2011 8:29am
just for you mitch ...GC20 mod schiff

beeb
Attached Image (click to enlarge)
Click to Enlarge Name: gc20-2.jpg Size: 78 KB
  • #6,489
  • May 16, 2011 8:38am May 16, 2011 8:38am
thanks mate. good luck to your trades

Quoting beeb
just for you mitch ...GC20 mod schiff

beeb
  • #6,490
  • May 16, 2011 8:42am May 16, 2011 8:42am
Quoting Mitchoss
thanks mate. good luck to your trades
you're welcome

i try to avoid the need for luck....lol

but i take the sentiment in the manner it was intended



beeb
  • #6,491
  • May 16, 2011 9:02am May 16, 2011 9:02am
Inserted Video
  • #6,492
  • May 16, 2011 9:10am May 16, 2011 9:10am
Agreed. 1500 first should signal a run to 1507 area

Next 1515 and above 1520.

There goes 1500 as writing.

Now if the Euro can take out 4250 / 300 we may see a reversal there.

I'm long from 4125.
Long Aussie from 1.056
Gold 1492
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,493
  • May 16, 2011 9:10am May 16, 2011 9:10am
NO RIGHT OR WRONG WAY
MY METHOD IN VIDEOS FOR CURRENCYS AND GOLD AND SILVER IS ON
http://www.forexfactory.com/showthread.php?t=293904
  • #6,494
  • May 16, 2011 9:13am May 16, 2011 9:13am
Quoting XTrade
Price is looking to pop 1500....

Euro just got a boost as well as aussie.

I'd like to see at least a run on 1507 today.

What do you see at 1507?
I have no enemy; I make Incautiousness my Enemy.
  • #6,495
  • May 16, 2011 9:29am May 16, 2011 9:29am
mixed signals for silver.
bearish setup but yellow TL would be broken.
Attached Image (click to enlarge)
Click to Enlarge Name: xag_usd_022.jpg Size: 70 KB
  • #6,496
  • May 16, 2011 9:33am May 16, 2011 9:33am
Looking at the H4 we are once again in basically a symmetrical triangle.

Price is consolidating and winding up, there is a top downtrend line as well as a rising lower TL.

At current A break out of above 1510 and test might provide a further break higher.

To the downside. Appx 1479 would have to be broken and sustained to move further down.

See chart
Attached Image (click to enlarge)
Click to Enlarge Name: Gold Symt tri may.GIF Size: 30 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,497
  • May 16, 2011 9:45am May 16, 2011 9:45am
Quoting XTrade
Looking at the H4 we are once again in basically a symmetrical triangle.

Price is consolidating and winding up, there is a top downtrend line as well as a rising lower TL.

At current A break out of above 1510 and test might provide a further break higher.

To the downside. Appx 1479 would have to be broken and sustained to move further down.

See chart

similar set up on my 240min GC:

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

beeb
  • #6,498
  • May 16, 2011 9:56am May 16, 2011 9:56am
Here's another view.

I do not see this breaking down. Changed colors of lines.

Also notice the respect of the 200 SMA on H4 or 240 min.

Strong Strong support.

This should provide a breakout.....

Euro Flying!!!
Swissy Getting dumped .... Pissed I missed that trade and took the aussie trade instead..


Quoting beeb
similar set up on my 240min GC:

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

beeb
Attached Image (click to enlarge)
Click to Enlarge Name: Gold Symt tri may 2.GIF Size: 35 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,499
  • May 16, 2011 9:58am May 16, 2011 9:58am
Quoting XTrade
Here's another view.

I do not see this breaking down. Changed colors of lines.

Also notice the respect of the 200 SMA on H4 or 240 min.

Strong Strong support.

This should provide a breakout.....

Euro Flying!!!
Swissy Getting dumped .... Pissed I missed that trade and took the aussie trade instead..
i took the swissie this morning - middle of the night your time i guess...



beeb
  • #6,500
  • May 16, 2011 9:59am May 16, 2011 9:59am
Added more gold long just above 1500.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-05-16_1556.png Size: 24 KB
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