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

  • #16,541
  • Feb 21, 2012 9:47am Feb 21, 2012 9:47am
We are already in a bull market look at the weekly chart.

Quoting HotBiscuits
Do you think a breach of 1760 could be confirmation of a bull market?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,542
  • Feb 21, 2012 9:53am Feb 21, 2012 9:53am
Price

JAN 2010 = $1050
Jan 2011 = $ 1400
Jan 2012 = $ 1750

High 2011 appx 1920

Read back a few pages not one post.

There are many confirmations noted.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,543
  • Feb 21, 2012 10:08am Feb 21, 2012 10:08am
Quoting XTrade
Price

JAN 2010 = $1050
Jan 2011 = $ 1400
Jan 2012 = $ 1750

High 2011 appx 1920

Read back a few pages not one post.

There are many confirmations noted.
I meant more short term.
  • #16,544
  • Feb 21, 2012 10:29am Feb 21, 2012 10:29am
HotBiscuits, I think you are talking about a continuation of this move. Am I right?

I am expecting resistance @ 1754,83 - 1756,60 area.

Maybe I am crazy, and market will ignore these levels as they are hidden areas, since they are lows previous the 1762,97 high.

Anyway, 1762,97 is the next target. But I think there are some sell orders anticipating a correction targeting 1735-1737 area, and then price will print a new high.

In the other hand, fundamentals and traders are giving buy signals since friday, so... this is the market.
  • #16,545
  • Feb 21, 2012 10:37am Feb 21, 2012 10:37am
Quote
Anyway, 1762,97 is the next target. But I think there are some sell orders anticipating a correction targeting 1735-1737 area, and then price will print a new high.

Will it be an all time new high?

In my opinion gold has stayed too much cautious for the past few months, it is time now to break free, but again it is all about Technicals, if technicalities allow then it is going up because the market in the big picture is bull, lets see.
  • #16,546
  • Feb 21, 2012 10:45am Feb 21, 2012 10:45am
A. No way to tell.

You have been reading. All traders can do is use the tools they have to make predictions of where they see a target price.

The patterns I have been posting for weeks, which any one who reads here should know by now, support a new High.

B. Not all about Technicals. Much if not all of today's move has to do with fundamentals.

I already posted two links, take a look at them.

C. The bearish pressure is simply not there right now.

Quoting forexfacts
Will it be an all time new high?

In my opinion gold has stayed too much cautious for the past few months, it is time now to break free, but again it is all about Technicals, if technicalities allow then it is going up because the market in the big picture is bull, lets see.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,547
  • Feb 21, 2012 11:42am Feb 21, 2012 11:42am
Quoting forexfacts
Will it be an all time new high?
No, I meant a new high above 1763 and below 1802.
  • #16,548
  • Edited 12:10pm Feb 21, 2012 11:53am | Edited 12:10pm
this is my ichi 5$/brick renko gold

http://gyazo.com/f045eacd4a2411df959050acd75f35be.png

it's like between 4H and daily,

normally i don't like short the gold, i prefer wait the pullback and buy deeper,

but i've seen this trendline, and perhaps we are at the top of a channel, so a little correction is expected,

i shorted from 1754, the target should me a level, so i decided for 150 ema.

but i'm not so long term, shorting gold!!

probably i'll close it after 10 dollars movement
Attached Image (click to enlarge)
Click to Enlarge Name: ichi 5$ short.jpg Size: 154 KB
  • #16,549
  • Feb 21, 2012 12:45pm Feb 21, 2012 12:45pm
Quoting fuse
I've closed most of my position. Left some to see if price will continue otherwise will close it out at breakeven, and look to go short on break of trendline. Chart H1
I've closed my position now. (I'm not very good at holding onto positions too long) I've left a tiny amount on to see if price can break the double top. Chart H4
Attached Image (click to enlarge)
Click to Enlarge Name: Goldnow.png Size: 41 KB
  • #16,550
  • Feb 21, 2012 2:05pm Feb 21, 2012 2:05pm
There are longer trendlines below that going back to 2008.

I wouldn't count on any major pullbacks besides a small swing if any.

Stick to your plan and buy after a dip or where the price may breakout a bit.

Some may be waiting for 1760 to break to get long.

Never know.

Quoting dnabrasil
this is my ichi 5$/brick renko gold

http://gyazo.com/f045eacd4a2411df959050acd75f35be.png

it's like between 4H and daily,

normally i don't like short the gold, i prefer wait the pullback and buy deeper,

but i've seen this trendline, and perhaps we are at the top of a channel, so a little correction is expected,

i shorted from 1754, the target should me a level, so i decided for 150 ema.

but i'm not so long term, shorting gold!!

probably i'll close it after 10 dollars movement
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,551
  • Feb 21, 2012 2:51pm Feb 21, 2012 2:51pm
Let's see if Gold can close above 1760 looks like it's going for the break.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,552
  • Feb 21, 2012 3:18pm Feb 21, 2012 3:18pm
Sold some June 2500 call options on gold futures short today. Thank you mr market.
  • #16,553
  • Feb 21, 2012 5:37pm Feb 21, 2012 5:37pm
it was a super day, upped my account by %15...

it was a news day. i waited for the outcome on Greece last night [i posted the news on the forum when it broke]; then place some buy orders then sat back.

hope everybody had a profitable day
  • #16,554
  • Feb 21, 2012 7:10pm Feb 21, 2012 7:10pm
Same deal bought the range pivot 35. Was expecting 1760 nd got a high of 61 -

Nice clean move.


Quoting madgimper
it was a super day, upped my account by %15...

it was a news day. i waited for the outcome on Greece last night [i posted the news on the forum when it broke]; then place some buy orders then sat back.

hope everybody had a profitable day
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,555
  • Feb 21, 2012 7:37pm Feb 21, 2012 7:37pm
Quoting XTrade
Same deal bought the range pivot 35. Was expecting 1760 nd got a high of 61 -

Nice clean move.
FANTASTIC, CONGRATS
  • #16,556
  • Feb 21, 2012 7:41pm Feb 21, 2012 7:41pm
Approaching a key area in the trend. Just need to wait and see what the market decides. Whether it wants to breakout top the top or make another bearish move.

http://i39.tinypic.com/2ex4n4n.jpg
  • #16,557
  • Feb 21, 2012 8:16pm Feb 21, 2012 8:16pm
Quoting XTrade
A. No way to tell.

You have been reading. All traders can do is use the tools they have to make predictions of where they see a target price.

The patterns I have been posting for weeks, which any one who reads here should know by now, support a new High.

B. Not all about Technicals. Much if not all of today's move has to do with fundamentals.

I already posted two links, take a look at them.

C. The bearish pressure is simply not there right now.

Yes Sir, yesterday's move was purely based upon the news, i meant what the market is going to follow now, the market is very cautious so it is not going to ignore technicalities or is it, i don't know....
  • #16,558
  • Feb 21, 2012 8:20pm Feb 21, 2012 8:20pm
hellllo fx facts
sorry to jump in to the discussion out of nowhere but sometimes techs are already there before "news" is.
if you know what i mean and i do have most trades driven from what is on the chart realm and news drives it for us.

i think price has its own harmony thats all. like all these patterns such as triangles ,wedges, double tops bottoms, etc..

just my view.
ill post a view on gold. havent been trading it much but it MAY (may... ) look bullish through a certain event.
Have I got something on my face, SOLDIER?
  • #16,559
  • Feb 21, 2012 8:28pm Feb 21, 2012 8:28pm
Quoting bumapatria
hellllo fx facts
sorry to jump in to the discussion out of nowhere but sometimes techs are already there before "news" is.
if you know what i mean and i do have most trades driven from what is on the chart realm and news drives it for us.

i think price has its own harmony thats all. like all these patterns such as triangles ,wedges, double tops bottoms, etc..

just my view.
ill post a view on gold. havent been trading it much but it MAY (may... ) look bullish through a certain event.
will post after breakfast!
Hello Buma i am just having a chat with X, no arguments, i am with him all the way, but i think i am little too much cautious, thats all.

I am a bull by the way, that is why i ask bears to share any food for thought, if they have any
  • #16,560
  • Feb 21, 2012 8:28pm Feb 21, 2012 8:28pm
Technically this triangle is broken already.


It formed off the weekly channel that is rising and the old Downward trendline with was broken about 4 weeks ago with an $90 Weekly candle at 1645 break point.

Please look back a few pages and you will see it in clear discussion in the thread.

I wouldn't agree with your chart due to what has already been produced on the weekly and the current high.

Also the past two "moves" have been bullish from the low of the triangle.
Gold has been rising from December 1520 and sideways part of feb. Just making new highs at 1761



Quoting jeremyyn
Approaching a key area in the trend. Just need to wait and see what the market decides. Whether it wants to breakout top the top or make another bearish move.

http://i39.tinypic.com/2ex4n4n.jpg
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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