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

  • #13,001
  • Nov 10, 2011 9:37pm Nov 10, 2011 9:37pm
the more i look at this chart the more i see the under top resistance we hit.


the bottom entry rez was broken ant will be again. Now all we need to do is steamroll 1900 in the upcoming sessions/days.


night. im done.
x
Quoting XTrade
This dip is perfectly in line with a take off TL.

Here is the simplest of charts

HOUR 4
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,002
  • Nov 10, 2011 9:56pm Nov 10, 2011 9:56pm
Dear xtrade!
Gold i am buy at 1767.
And have open 2 trades above 1777.I hope i learn a lot to trade Gold.We must go over the M 1 line at 1779.And target of myself is 1800 next days.

How much is our SL on Gold???


More information about Silver is good!
Silver margin is big

Quoting XTrade
Yes, or I would not be here. If you have an interest in GOLD and have been following the charts I DO NOT SUGGEST YOU TRADE SILVER DUE TO LOWER MARGIN... Trade GOLD first. Then as you follow Gold watch silver. Then begin to take small positions.
First D E M O trade it.

If you want post and ask about your demo trades, but, due to the fact there are people risking money, disclose the fact it is a demo.
Thats all i ask. You can learn a lot here. If you allow yourself to.

It is partially my fault we don't discuss SILVER as much. Yet, it is...
  • #13,003
  • Nov 10, 2011 11:02pm Nov 10, 2011 11:02pm
Quoting stevebalmmer
Dear xtrade!
Gold i am buy at 1767.
And have open 2 trades above 1777.I hope i learn a lot to trade Gold.We must go over the M 1 line at 1779.And target of myself is 1800 next days.

How much is our SL on Gold???


More information about Silver is good!
Silver margin is big
'X' will chime in I'm sure but I would construct a Lot Size that allowed me to suffer 1,745 as a Limit Stop.

B
  • #13,004
  • Nov 10, 2011 11:48pm Nov 10, 2011 11:48pm
Still Buy setup for AU and AG... timeframe 1h
Attached Image (click to enlarge)
Click to Enlarge Name: xau.png Size: 15 KB
  • #13,005
  • Nov 11, 2011 12:38am Nov 11, 2011 12:38am
Quoting stevebalmmer
Dear xtrade!
Gold i am buy at 1767.
And have open 2 trades above 1777.I hope i learn a lot to trade Gold.We must go over the M 1 line at 1779.And target of myself is 1800 next days.

How much is our SL on Gold???


More information about Silver is good!
Silver margin is big
Hi Steve, look like you are pretty sure that gold will reach 1800 next day. Is that so? based on what indicator you used?
  • #13,006
  • Nov 11, 2011 1:11am Nov 11, 2011 1:11am
There's a pin bar on the daily, it didn't manage to close above the 61.8 ret and the close is weak. It's also Friday and a bank holiday in the US and Canada.

Looking at this pin bar and the pull back it's formed at - then looking at the previous pullback and pin bar it's looking like quite a straightforward uptrend. If it pushes through the current resistance/consolidation area then I see a retest and most probable breach of 1800 soon. Not sure about today due to bank holidays.

Then again with all the EU stuff going on we just need a few rumours and statements from Italy/Greece/Fitch/Moodys/Twitter. However, that being said, despite all that's been going on in the news the chart does look very BAU (business as usual).
Attached Image (click to enlarge)
Click to Enlarge Name: gold_daily.gif Size: 21 KB
Anything can happen.
  • #13,007
  • Nov 11, 2011 2:41am Nov 11, 2011 2:41am
Quoting ddinnov
There's a pin bar on the daily, it didn't manage to close above the 61.8 ret and the close is weak. It's also Friday and a bank holiday in the US and Canada.

Looking at this pin bar and the pull back it's formed at - then looking at the previous pullback and pin bar it's looking like quite a straightforward uptrend. If it pushes through the current resistance/consolidation area then I see a retest and most probable breach of 1800 soon. Not sure about today due to bank holidays.

Then again with all the EU stuff going on we just need a few...
thanks dino seems all of you guys have the same analysis that gold will continue riding up!
  • #13,008
  • Nov 11, 2011 3:14am Nov 11, 2011 3:14am
is this a valid rising wedge? if it is I want to go short! check it out and post youre comment
Attached Image(s) (click to enlarge)
Click to Enlarge Name: wedge h1.gif Size: 34 KB
Click to Enlarge Name: wedge m30.gif Size: 30 KB
  • #13,009
  • Nov 11, 2011 3:18am Nov 11, 2011 3:18am
I actually expect gold to drop. look at the dayly chart's last 3 candles. I think all the upward movement for today is only going to be a shadow on the d1 candle. above 1778 I want to close shorts and go long again
  • #13,010
  • Edited 3:24am Nov 11, 2011 3:23am | Edited 3:24am
it looks like gold found strong support at the bottom of this h4 Schiff fork. If a large enough candle close far enough below this fork Im sure those bears would be happy to jump in
Attached Image (click to enlarge)
Click to Enlarge Name: schiff fork on h4.gif Size: 30 KB
  • #13,011
  • Nov 11, 2011 6:37am Nov 11, 2011 6:37am
I think Ive drawn the rising wedge incorectly the first time, there should have been a reversal already. now ive drawn it without the spikes. The breakout should still be pending
Attached Image (click to enlarge)
Click to Enlarge Name: rising wedge m30 drawn without spikes.gif Size: 29 KB
  • #13,012
  • Nov 11, 2011 7:10am Nov 11, 2011 7:10am
gold is on the 1770, at 1780 we can hope of a long target to 1800.
  • #13,013
  • Nov 11, 2011 7:20am Nov 11, 2011 7:20am
Quoting stevebalmmer
gold is on the 1770, at 1780 we can hope of a long target to 1800.
I'm looking to add at 1780
Anything can happen.
  • #13,014
  • Nov 11, 2011 7:25am Nov 11, 2011 7:25am
your entry is 1780?
Quoting ddinnov
I'm looking to add at 1780
  • #13,015
  • Nov 11, 2011 7:34am Nov 11, 2011 7:34am
Quoting stevebalmmer
your entry is 1780?
no I got in this morning at about 1763, looking to add another position at 1780 if it makes it past there and confirms it as a support level.
Anything can happen.
  • #13,016
  • Nov 11, 2011 7:42am Nov 11, 2011 7:42am
came a little back Gold, i not shure, take a trade ,ist it to early?
  • #13,017
  • Nov 11, 2011 7:52am Nov 11, 2011 7:52am
I'm not sure, volume is low because no NY today. And it's getting to that part of Friday where profit taking and wierd stuff happens..

I will only add at 1780 if it gets past it, retests it and confirms that it is support.
Anything can happen.
  • #13,018
  • Nov 11, 2011 8:15am Nov 11, 2011 8:15am
nice analysis...dd and steve.

anybody using bots to trade here?
Life's a bitch....so be a dog and cover it!
  • #13,019
  • Nov 11, 2011 8:22am Nov 11, 2011 8:22am
I was using a trend grid for a while, which was quite successful and reduced the amount of stress associated with trading.

I stopped when the volatility ensued because the point was to minimize the amount of time I needed to spend managing my positions. With the wild swings in price, this obviously was not possible.

Cheers
  • #13,020
  • Nov 11, 2011 8:26am Nov 11, 2011 8:26am
what is a both?
Gold can go over the m 1 line at 1780.
To above 1800,
at h1 it you see the 3 top, is go over there, we can run to 1850.At this szenario, Gold go short to 1650.
At 1650 we can fight to the 2000.
Quoting dogbreath
nice analysis...dd and steve.

anybody using bots to trade here?
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