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

  • #14,901
  • Dec 30, 2011 4:31am Dec 30, 2011 4:31am
1564 break through
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  • #14,902
  • Dec 30, 2011 4:34am Dec 30, 2011 4:34am
one more chart for all of you
Attached Image (click to enlarge)
Click to Enlarge Name: gold2.gif Size: 22 KB
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  • #14,903
  • Dec 30, 2011 4:35am Dec 30, 2011 4:35am
If 1576 is taken, then 1600 is not impossible ......... fingers crossed. Welcome back forexfacts
  • #14,904
  • Dec 30, 2011 4:45am Dec 30, 2011 4:45am
Quoting giantgroup
If 1576 is taken, then 1600 is not impossible ......... fingers crossed. Welcome back forexfacts
This is for you i am seeing above 1600 longer term from here

see Candle Stick action last three morning star with 50 percent fib retracment
Attached Image (click to enlarge)
Click to Enlarge Name: gold3.gif Size: 22 KB
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  • #14,905
  • Dec 30, 2011 4:59am Dec 30, 2011 4:59am
Quoting mmudasir
This is for you i am seeing above 1600 longer term from here

see Candle Stick action last three morning star with 50 percent fib retracment
Hi mmudasir, My short term targets from 1445 are 1550, 1567, 1576,1581,1596,1600 then 1612.... We know gold will go higher but I am more of a cautious trader. My caution is because on the daily chart, price is below 200 SMA. I'll get bolder once price has crossed back above the 200 SMA
  • #14,906
  • Dec 30, 2011 5:44am Dec 30, 2011 5:44am
xau
Entry: 1535.86
SL: 1569.92

xag
Entry: 27.866
SL: 27.882

Laptop died, other laptop died, too far from office. Trading on iPhone and iPad, totally lame. Can't draw lines on stupid iPad app but I can with iPhone but it's sooooooo frigging small!!
  • #14,907
  • Dec 30, 2011 5:54am Dec 30, 2011 5:54am
@ Birons
I don't know much about Parabolic SAR, but attached chart displays ADX/DMI, from the same Mr Wilder, that agrees with your analysis.
Anyway I am at BE with my short 2 days ago and will wait there, either to get out or become really aggressive.

Till then, 2012 pips to all !

Not sure if anyone here uses the Parabolic SAR indicator but I use it to get a feel of where the trend maybe going. What I've noted is that the indicator has shown a shift in momentum. Now it maybe just a false positive as manipulation has been rampant of late but it's something I'm keeping my eye on. What I've noticed with this particular indicator is that rarely does it just show one dot (see chart attached). There are always several that follow once one appears which would suggest more downward movement. Also the indicator seems to be more accurate in determining momentum shifts on higher time frames. I don't use it that often but it is certainly noted. If anyone has more experience with this indicator please let me know your thoughts.[/quote]
Attached Image (click to enlarge)
Click to Enlarge Name: adx Gold (DFB).png Size: 15 KB
Patience is magic
  • #14,908
  • Dec 30, 2011 5:56am Dec 30, 2011 5:56am
Stopped out, made 362 pips, not to shabby and relieved now I can stop trading on the iPad and iPhone. Happy trading.
  • #14,909
  • Dec 30, 2011 6:01am Dec 30, 2011 6:01am
Thanks muntu. Not familiar with those indicators so will have a look at them later when I get my computer issues sorted. May the pips be with you
  • #14,910
  • Dec 30, 2011 6:28am Dec 30, 2011 6:28am
Hi all, In my opinion we are seeing a very bearish long term. As you can see from my charts I have drawn s/r lines which have now been broken and I believe what was support will now turn resistance. As you can also see I have plotted the 200sma and 50sma. The 50sma is edging closer to crossing through the 200 sma. If this crossover is to occur we can be sure than the new trend is indeed bearish!

From a fundamental point of view I think we will see some short term dollar selling, this will of course mean investors will use gold as a hedge and not the dollar. I.e gold will be bought up.. However there is limited upside across the board of risky assets. I believe we may see small buying next week but limited upside I for one will be coming in from the short side.

Even if my s/r lines hold I dont see the 200sma broken again I think it will prove major resistance. I would love to see that hit for a nice short but I dont think we will but I will trade accordingly bearing fundamentals in mind!
Attached Image (click to enlarge)
Click to Enlarge Name: 11-12-14_16-10-04_Gold.gif Size: 22 KB
  • #14,911
  • Dec 30, 2011 6:53am Dec 30, 2011 6:53am
Quoting giantgroup
Hi mmudasir, My short term targets from 1445 are 1550, 1567, 1576,1581,1596,1600 then 1612.... We know gold will go higher but I am more of a cautious trader. My caution is because on the daily chart, price is below 200 SMA. I'll get bolder once price has crossed back above the 200 SMA
in my short term target is at leat 1670 from here
i dont think even go to 14xx
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  • #14,912
  • Dec 30, 2011 7:12am Dec 30, 2011 7:12am
Quoting mmudasir
in my short term target is at leat 1670 from here
i dont think even go to 14xx

i saw in US market opening it even didnt touch 1565. 1566 is very strong and then it go up again to 1570.
what your opinion for short term trading ( 1 day ) ?
  • #14,913
  • Dec 30, 2011 7:29am Dec 30, 2011 7:29am
Quoting balisurfer
i saw in US market opening it even didnt touch 1565. 1566 is very strong and then it go up again to 1570.
what your opinion for short term trading ( 1 day ) ?
bUYING IN DIPS trendline break out with support now become risitance of 1564 with key support redline
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 18 KB
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  • #14,914
  • Dec 30, 2011 7:31am Dec 30, 2011 7:31am
Quoting mmudasir
bUYING IN DIPS trendline break out with support now become risitance of 1564

tq sir

1564 is the deepest right now ?
  • #14,915
  • Dec 30, 2011 7:33am Dec 30, 2011 7:33am
Quoting balisurfer
tq sir

1564 is the deepest right now ?
see my second last edited post
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  • #14,916
  • Dec 30, 2011 7:44am Dec 30, 2011 7:44am
Quoting mmudasir
see my second last edited post
how far we go up sir? i heard some people till 1580. how do you think ?
  • #14,917
  • Dec 30, 2011 7:51am Dec 30, 2011 7:51am
Quoting balisurfer
how far we go up sir? i heard some people till 1580. how do you think ?
at least 1637 but i m not recommended to some one here to trade base on my chart this is just my technical levels
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  • #14,918
  • Dec 30, 2011 7:53am Dec 30, 2011 7:53am
Quoting mmudasir
in my short term target is at leat 1670 from here
i dont think even go to 14xx
Yes if it goes up from here it will go close to 1700 before coming back but what if it goes down from here?

I still think it is bearish in short term.
  • #14,919
  • Dec 30, 2011 7:53am Dec 30, 2011 7:53am
Quoting mmudasir
at least 1637 but i m not recommended to some one here to trade base on my chart this is just my technical levels

1637 is for today or in next year sir?
yes, its ok
  • #14,920
  • Edited 8:09am Dec 30, 2011 7:55am | Edited 8:09am
Quoting forexfacts
Yes if it goes up from here it will go close to 1700 before coming back but what if it goes down from here?
if it's gonna going down, which level is become important thing?
i saw 1564 has broken. you know that a few hours ago 1564 level is important level to going up to 1570-
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