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

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

#12,881
Edited 3:50pm Nov 7, 2011 3:48pm | Edited 3:50pm

dogbreath
| Joined Aug 2007 | Status: Summer Sausage Club President | 308 Posts

did anyone else get a "gap" in gold prices at 3pm cst (2100 gmt)from about 1798 down to 1795?

Life's a bitch....so be a dog and cover it!

#12,882
Nov 7, 2011 4:08pm Nov 7, 2011 4:08pm

XTrade
Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts

I see you have noticed I have been kind here and given you a second chance. Which BTW is rare once you have been banned.

In any case, hopefully you can too.

Please read the first post when you are unsure. This is really not a scalping thread unless the market is dead, thus, there is no reason for constant updates or too many posts about nothing from the same person.

If you have been reading, for about a week now I have had my I on this prize of today that will be discussed in a different post.

Apology accepted. Don't f--ck it up. If you are here to learn than do that.

Yet, you can't learn if you are too busy talking and don't read the wealth of info already before you.

Lastly, looking to short is foolish at this point. Depending on what your goals are, even the meager 10 USD shorts aren't worth the stress in my eyes. Too each is own,

Good luck.
X

Quoting bumapatria

Disliked

xtrade.... thank you so much.
i apoloogize for my actions on previous time around. i was too prideful.
i hope i can build a new start here.

i am looking at gold at hourly supply and its making a compression rising wedge. aka time to short if PA and sellers really come to the party.

everything else to me looks usd bull in my charts. im always nervos shorting gold sometimesand ill provide as much help and knowledge i can to help. my capital is yet to be built to make enough for 0.01 gold absorption etc.

Ignored

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News

#12,883
Nov 7, 2011 4:17pm Nov 7, 2011 4:17pm

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

Quoting XTrade

Disliked

I see you have noticed I have been kind here and given you a second chance. Which BTW is rare once you have been banned.

In any case, hopefully you can too.

Please read the first post when you are unsure. This is really not a scalping thread unless the market is dead, thus, there is no reason for constant updates or too many posts about nothing from the same person.

If you have been reading, for about a week now I have had my I on this prize of today that will be discussed in a different post.

Apology accepted. Don't f--ck it up. If you...

Ignored

will do sir.
im reading the one about the cup and handle and the other patterns to go for in gold and the best entries.

i will not take this lightly, and i thank you for doing this.

yes i realize that gold is no safe scalp, and a not so good shorting environment, there, and i will not be posting like i used to before, here just to show anlaysis.

oi im looking at h4 chart missed a good long. a break then retrace/test hit again. maybe another retrace not sure, gold in lot of supply right now.

im not going to short it, momentum is with bulls if i am short most likely im going with retracement rather than motive wave.

what do u think x? based on ur analysis do u think there might be some profit taking?

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Have I got something on my face, SOLDIER?

#12,884
Nov 7, 2011 4:34pm Nov 7, 2011 4:34pm

XTrade
Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts

My Prophecy has full filled itself. I try not to quote myself often yet this was just too perfect a day and a chart not too.

As I said below the break of our first major (possible) resistance would come in the form of a breakout on high vol. -- Volume high, yet not as high as I thought. Nonetheless the breakout came straight through the resistance in the form of a 42+ USD candle. A great day trade as well as a great day for the position traders. The upcoming resistances are meant to be broken at this point and I wouldn't look for any 100 USD corrections (shorts) until after the next high.

Next resistance 1894/1900 Once these are destroyed we should be paving a new path towards 2k. I'd expect some resistance there just because of the fact of entering a new thousand, yet gold has shown us and proven to us many a time that psychological resistance is exactly that, psychological.

quoted post http://www.forexfactory.com/showthre...83#post5097383
Related posts and
charts http://www.forexfactory.com/showthre...29#post5101029

Quoting XTrade

Disliked

............................

There is the bottom channel line in blue and there is another over spill or dip line somewhere below.In any case price is stuck right atop the top channel line and is up against some stiff resistance noted in blue.

Likely, there may be a test, in the upcoming sessions, but the same way when gold sells off and respects no S/R, this rez area will likely be broken via high volume breakout.

Not worried about any head and shoulders. US is not fiscally well just like places in the EU zone. There are problems everywhere.
................................

Ignored

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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News

#12,885
Nov 7, 2011 4:45pm Nov 7, 2011 4:45pm

XTrade
Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts

I would wait if I had no position for a test of the line around 1775 or 1780 to confirm the resistance is broken, yet I am speaking from a daily chart and usu.
use H4. Thus, I don't expect an erase of the 40 plus gains, perhaps an off day

or

a correction dip hard to put an exact number on it. A good rule of thumb is to work in the 5 10 20/25 50 ranges.

Theoretically, the new bar has just formed, you could enter a short now and see how far you get, or you could look at that as a dip and enter long,

Considering Gold is now out of the channel again.

edit also: the level just passed in my chart has served more as a support than a resistance as of yet.

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News

#12,886
Nov 7, 2011 5:07pm Nov 7, 2011 5:07pm

Blud4oilPrgm
| Commercial User | Joined Jun 2008 | 388 Posts

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Anyone here follow Ichimoku?

According to that gold is looking excellent here. Above on the daily you can see price clearly above the kumo cloud and both the Tenkan sen and Kijun sen at a rather steep angle. May pullback a bit but see no end to this uptrend for a while.

#12,887
Nov 7, 2011 5:12pm Nov 7, 2011 5:12pm

XTrade
Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts

I do sometimes use the clouds to look at S/R and other levels.

I agree with your findings/ statement.

I am looking more towards a goal of 2500 in the next quarter.

Quoting Blud4oilPrgm

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Attachment

Anyone here follow Ichimoku?

According to that gold is looking excellent here. Above on the daily you can see price clearly above the kumo cloud and both the Tenkan sen and Kijun sen at a rather steep angle. May pullback a bit but see no end to this uptrend for a while.

Ignored

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News

#12,888
Nov 7, 2011 5:28pm Nov 7, 2011 5:28pm

Blud4oilPrgm
| Commercial User | Joined Jun 2008 | 388 Posts

Ok cool, good to know I'm not the only one.

And I think more generally, it looks like commodities have carved out a bottom in the kumo area on CRB 1D.

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This will be very helpful.

Quoting XTrade

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I do sometimes use the clouds to look at S/R and other levels.

I agree with your findings/ statement.

I am looking more towards a goal of 2500 in the next quarter.

Ignored

#12,889
Nov 7, 2011 6:13pm Nov 7, 2011 6:13pm

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

how many of you are gold investors? by that i mean 1 week + hold? i know the title 'traders' but what happens if for example your long is losing? do you compound another long to average the price in? or sometimes when u guys win for example 100 usd u like to lock by hedging (maybe not) or something?

im new to gold and its behaviour so yeah.

thanx

Have I got something on my face, SOLDIER?

#12,890
Nov 7, 2011 6:51pm Nov 7, 2011 6:51pm

whatfx
| Joined Jun 2010 | Status: The Villain | 2,565 Posts

ok. i have sold gold at 1796.

lets see how this one pans out. looking for around 20 pips...

#12,891
Nov 7, 2011 7:01pm Nov 7, 2011 7:01pm

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

bought gold due to truncated 5th wave. this is my practice trades aka fake trades as capital is still not ready for absorption. lines are my pretend trades. ill have 5 pip spread on gold.

im not going to lie, gold needs practice. retest of supply resistance is made iwht 3 rejections. possilby a bull flag too.

if i bought at 1794.10, x talks about psychological targets in the market. so lets say 1800 is my target to close half.

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Have I got something on my face, SOLDIER?

#12,892
Nov 7, 2011 7:10pm Nov 7, 2011 7:10pm

Blud4oilPrgm
| Commercial User | Joined Jun 2008 | 388 Posts

Hey buddy, I would suggest you spend some time learning a time tested system such as Ichimoku. If you can present some useful and insightful information to the thread, you will find that you'll get better information in return.

Any analysis posted to the group should include a systematic logic or strategy. If your strategy can't be easily visualized, you can't expect to get good advice.

Quoting bumapatria

Disliked

will do sir.
im reading the one about the cup and handle and the other patterns to go for in gold and the best entries.

i will not take this lightly, and i thank you for doing this.

yes i realize that gold is no safe scalp, and a not so good shorting environment, there, and i will not be posting like i used to before, here just to show anlaysis.

oi im looking at h4 chart missed a good long. a break then retrace/test hit again. maybe another retrace not sure, gold in lot of supply right now.

im not going to short it, momentum is with bulls if...

Ignored

#12,893
Nov 7, 2011 7:32pm Nov 7, 2011 7:32pm

CathS
| Joined Jun 2011 | Status: Trader | 257 Posts

Quoting dogbreath

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did anyone else get a "gap" in gold prices at 3pm cst (2100 gmt)from about 1798 down to 1795?

Ignored

I have a gap on one of my feeds but between 1795 and 1793, but my MT4 chart is fine. Weird.

#12,894
Nov 7, 2011 7:37pm Nov 7, 2011 7:37pm

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

Quoting Blud4oilPrgm

Disliked

Hey buddy, I would suggest you spend some time learning a time tested system such as Ichimoku. If you can present some useful and insightful information to the thread, you will find that you'll get better information in return.

Any analysis posted to the group should include a systematic logic or strategy. If your strategy can't be easily visualized, you can't expect to get good advice.

Ignored

im very simple guy really, supply demand with some other simple aspects like gann angles, and price action patterns.

i can trade silver with ti, but since my broker only provides gold for micro accounts, its fine. im doing well with currencies easier to be flexible with longs and shorts.

okay so heres how it is with currencies:
patterns + price action mostly.

higher tf's i use gann cycles angles nad fib retracements. timing is m5 and m1.

1st trade on my live account was on that rumour of boj intervention whatever i used PA and cycle on daily and good 200 pips bagged on that day.
oh yeah, Elliot waves that i also use

H4 eur usd

m5 eur usd

do not recommend me indicators... damn i suck at them BADly. llike really badly. really i swear i was on that hunt months ago and realized im not made for them.. or theyre not made for me... im more of a lines person. i draw everything so no indis

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Have I got something on my face, SOLDIER?

#12,895
Nov 7, 2011 8:08pm Nov 7, 2011 8:08pm

SunTrader
Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts

Quoting XTrade

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........., there is no reason for constant updates or too many posts about nothing from the same person..........

X

Ignored

Hmmm doesn't seem to have made much of an impact on intended party.