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

  • #17,221
  • Mar 8, 2012 6:33am Mar 8, 2012 6:33am
Just close out my long position @1700
the bull looks kinda tired, H1 RSI is screaming that it is on full throttle

might re-enter when price has fallen a bit =)
  • #17,222
  • Mar 8, 2012 8:16am Mar 8, 2012 8:16am
Always. this is more important of a price driver than techs
Quoting stevebalmmer
hy blythe!

Your outlook at the next days?

target 1710!

Your target on 29 april, we must look,what the market and bernankee make.

steve
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,223
  • Mar 8, 2012 8:18am Mar 8, 2012 8:18am
You've almost answered your own question.

The truer supports / resistances around psych 000 levels tend to reside 2 to 5 USD below and above the actual number.

Quoting duzza
Anyone have an opinion on whether the support line I have drawn in this chart could turn to resistance? Is around 1700-1704.

EDIT - I know round hundreds are psychological levels but I don't see the effect to the same extent at e.g. 1800.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,224
  • Mar 8, 2012 8:46am Mar 8, 2012 8:46am
Just added a position to the account to see how she fairs on this dip.

Waiting on silver.

--------------------------------------------------------------

If you guys want to make easy money, buy dips on silver and JUST HOLD.

A great physical and "paper" trade example was the run from 26 to 36.

Now let's say you did the opposite and bought 36 and it dipped you have two options as paper traders.

A. HEDGE - This is why the COMEX and NYMEX Futures exist.
so SELL 36 - you would lock in your price and profit all the way down to 26.
EXIT. N0 l0ss 0n investment
B. WAIT WAIt wait, BOUGHT 36 - WAIT PRICE IS 36 APPX AGAIN.
NOW, you need a rise.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,225
  • Mar 8, 2012 8:47am Mar 8, 2012 8:47am
Always post these as Bemac said!
THX
Quoting lilpip
move out of 1687 noted, lets see if we can stay to the north of 1687-91.
bounce noted at 1691 area.
thur daily
1722
1691
1670
with eye on 1709 response also.

silver
lets stay above daily pivot 33.83 and have fri close above single year trendguide or pivot 34.50
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,226
  • Mar 8, 2012 8:50am Mar 8, 2012 8:50am
yes u can time the market. The "concern" or next thing to watch is price behaviour once it enteres the Hidden Gap wide range bar on the way down.
Attached Image (click to enlarge)
Click to Enlarge Name: time able.gif Size: 19 KB
Have I got something on my face, SOLDIER?
  • #17,227
  • Mar 8, 2012 8:50am Mar 8, 2012 8:50am
Here is an example of impatience.

I had a trade on live and on the demo up top.

It was going NO WHERE after I think 20 hours.

Long EUR/GBP

I cut the trade short (it had proper MM and RR) at a 6 pip loss.

I wake up today and there is a damn 50 pip + H4 bar right in my face.

My other Euro long got taken out at TP - look in explorer for details
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,228
  • Mar 8, 2012 8:53am Mar 8, 2012 8:53am
If you want a piece of swissy - SHOR USD/CHF

Wait for the current level of 9110 appx to reject then enter short.

THis pair is NOTORIOUS for Breaking support or resistances and then IMMEDIATELY Testing them.

It fairs well traded on the daily which erases most of it's choppy annoyance.

I would never trade it on anything below H1
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,229
  • Mar 8, 2012 8:55am Mar 8, 2012 8:55am
That inverse head and shoulders was so clear on your chart just posted.

Right when the neck broke the manipulators destroyed it.

Quoting bumapatria
yes u can time the market. The "concern" or next thing to watch is price behaviour once it enteres the Hidden Gap wide range bar on the way down.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,230
  • Mar 8, 2012 9:01am Mar 8, 2012 9:01am
Add a 21 EMA to an H1 chart and notice how when the price is trending it will tend to stay above and below the line.

Sometimes it is very easy to trade off of this alone for quick day trades.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,231
  • Mar 8, 2012 9:02am Mar 8, 2012 9:02am
Quoting XTrade
That inverse head and shoulders was so clear on your chart just posted.

Right when the neck broke the manipulators destroyed it.
Hey X the validity of the pattern MIGHT still work out. the NEW high made that might be the new high utilized for the next neckline.

im talking of something like this mybe
Attached Image (click to enlarge)
Click to Enlarge Name: new_h_and_s.png Size: 60 KB


its not manipulated teach... Imo...its a harmonic straight to 0.618 and given some timing phenomenon it was "supposed" to drop from there naturally really.Theres order behind the chaos. Chaos is the curtain. Order is the stage behind movements
Have I got something on my face, SOLDIER?
  • #17,232
  • Mar 8, 2012 9:33am Mar 8, 2012 9:33am
It could still work, I have seen this kind of selling around a neck on an inverse before, we will have to wait and see.

Silver is caught between two downward projection lines from the high at 50.

Quoting bumapatria
Hey X the validity of the pattern MIGHT still work out. the NEW high made that might be the new high utilized for the next neckline.
--------------------
its not manipulated teach... Imo...its a harmonic straight to 0.618 and given some timing phenomenon it was "supposed" to drop from there naturally really.Theres order behind the chaos. Chaos is the curtain. Order is the stage behind movements
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,233
  • Mar 8, 2012 9:43am Mar 8, 2012 9:43am
A few more hours until the private investors decide about a greek debt cut.
It should affect the USD as in a positive outcome the EUR would increase if I am not mistaken.
  • #17,234
  • Mar 8, 2012 9:51am Mar 8, 2012 9:51am
long @ 1694 on the dip, sl = 1687, tgt = 1707
  • #17,235
  • Mar 8, 2012 9:58am Mar 8, 2012 9:58am
Quoting XTrade
Add a 21 EMA to an H1 chart and notice how when the price is trending it will tend to stay above and below the line.

Sometimes it is very easy to trade off of this alone for quick day trades.
all ema's are cool i use the 200 100 50 20 11 5
  • #17,236
  • Mar 8, 2012 10:11am Mar 8, 2012 10:11am
If there is one thing i cant Do or use
is MA's

grrr lol
Have I got something on my face, SOLDIER?
  • #17,237
  • Mar 8, 2012 10:14am Mar 8, 2012 10:14am
Quoting bumapatria
If there is one thing i cant Do or use
is MA's

grrr lol

what about fib's
  • #17,238
  • Mar 8, 2012 10:20am Mar 8, 2012 10:20am
Quoting kill56
what about fib's
fibs i can do.. I pay most attention to .382 and .618 for retracements and confluences with time. 1.618 important too.
u can actually diversify. Fib bar counting for time analysis... Fib price range analysis... Using fib ratios to natural time harmonies..
endless stuff actualyl about fibs

retracements are just the curtain show
Have I got something on my face, SOLDIER?
  • #17,239
  • Mar 8, 2012 10:37am Mar 8, 2012 10:37am
Quoting bumapatria
fibs i can do.. I pay most attention to .382 and .618 for retracements and confluences with time. 1.618 important too.
u can actually diversify. Fib bar counting for time analysis... Fib price range analysis... Using fib ratios to natural time harmonies..
endless stuff actualyl about fibs

retracements are just the curtain show
it looks gold like the 382 and 618 , eur loves 236 and 50, cable too

i'd rather use the monthly fib's on gold
  • #17,240
  • Mar 8, 2012 10:49am Mar 8, 2012 10:49am
Hey Kill,
On the longer term charts, my standards
Are
SMA 50 100 200
Sometimes EMA 7 & 14 / 21

Shorter term like H1 I like the EMA 21 & 7
Quoting kill56
all ema's are cool i use the 200 100 50 20 11 5
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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