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

  • #17,261
  • Mar 8, 2012 1:16pm Mar 8, 2012 1:16pm
Quote:
It takes two points to draw a trendline

It is great that you experiment with all these things.
One day you will try the old school methods.
Simple - PA, S/R & TL
(always fundies

Edit: BTW if you DRAW major support and resistance they are no longer hidden

Quoting bumapatria

One of many price and time mottos / memes is this:

It all starts with a single point in price and time.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,262
  • Mar 8, 2012 2:20pm Mar 8, 2012 2:20pm
G'day all

Good day of consolidation for the metals though we have tomorrow's possible NFP shennanigans to put up with.....

Following on from post #17312 it looks like SI found some support at the green LP as I had hoped:

http://www.screencast.com/t/St07Q5qKgqg

If that remains support and then the red UP and SP become support that would look pretty bullish to me.

GC is not so clear cut and, for the bulls, still looks to me to need to exceed and maintain altitude above about 1718. However we spent a day well above the 200 day MA and the daily stochs seem to be turning up from under 20 .....

Here's the same fork I showed yesterday but as time has passed I've changed it from 5 min to 20 min - it's not perfect but is still showing good lines of support and resistance and has given a few opportunities...

http://www.screencast.com/t/Tl05TKAoZVt

Buma (and anyone else) if you want to learn about the physical market then google is your friend....I suggest you also try "Andrew Maguire kingworldnews". There are three or four audios on the site that are essential listening IMO...

Big day tomorrow with NFP - good trading and DYODD

beeb
  • #17,263
  • Mar 8, 2012 3:48pm Mar 8, 2012 3:48pm
Quoting beeb
G'day all

Good day of consolidation for the metals though we have tomorrow's possible NFP shennanigans to put up with.....

...

Big day tomorrow with NFP - good trading and DYODD

beeb
whatever they need the number to be, unfortunately it will be
Lehman Sisters Wouldn't Have Failed
  • #17,264
  • Mar 8, 2012 5:18pm Mar 8, 2012 5:18pm
Quoting Pommegranate
I'm wondering why would a b.roker tell their clients valuable information about where the markets are headed? .....
Brokers make money when people trade. Doesn't matter the direction.

Brokers are also known to be right .... now and then.
  • #17,265
  • Mar 8, 2012 5:56pm Mar 8, 2012 5:56pm
Gold is addictive.

Trade safe.


breeze
  • #17,266
  • Mar 8, 2012 5:56pm Mar 8, 2012 5:56pm
Quoting Blythe
you're welcome!
1. the drop to 1600 is still possible. Even if both requirements are met (see my previous post) it is still possible that current selloff is a part of wave (d). But I doubt it. The sell off was vicious which is indicative of a beginning of high order wave i.e. wave (e). The wave structure of a drop suggests that new high (>1790) should be expected (1800+).
2. If my last chart is correct gold will hit 1900 by April 29th

Thank you very much, you are always straight to the point Please keep sharing, i like your confidence
  • #17,267
  • Mar 8, 2012 5:59pm Mar 8, 2012 5:59pm
Quoting fxbreeze
Gold is addictive.

Trade safe.


breeze
Huh?
Does that mean put a condom on your typing fingers?
  • #17,268
  • Mar 8, 2012 7:35pm Mar 8, 2012 7:35pm
Quoting SunTrader
Huh?
Does that mean put a condom on your typing fingers?
Nope.

Like Mr.XTrade quotes,
Be patient. Don't over-trade.


breeze
  • #17,269
  • Mar 8, 2012 8:40pm Mar 8, 2012 8:40pm
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
although a drop below higher timeframe support levels 1680-87 and 34.50 for a couple days this week I have to say eyes are on fri. weekly close.
we began the month of mar rotating back to mar. monthly support 1670 and 32.76 and extending back up.
monthly
1803
1670
1537
silver
38.42
32.76
27.10
with the moving thru 1680--87 area and daily close above both daily trend guides 1691 and 33.83 bulls are not giving up without a fight.
fri daily
1725
1695
1665
with eye on 1713 response
silver fri.daily
lets stay above 33.92
35.42
33.92
32.42
with eye on 34.35-50 area
  • #17,270
  • Mar 8, 2012 8:52pm Mar 8, 2012 8:52pm
Quoting beeb
G'day all

http://www.screencast.com/t/St07Q5qKgqg

http://www.screencast.com/t/Tl05TKAoZVt

Buma (and anyone else) if you want to learn about the physical market then google is your friend....I suggest you also try "Andrew Maguire kingworldnews". There are three or four audios on the site that are essential listening IMO...

Big day tomorrow with NFP - good trading and DYODD

beeb
I read a few days back and thought andrew and jim sinclair pretty much told it like it was.
although they are more knowledgable, sometimes there are some over their because of their enthusiasm let their bias get in the way.
  • #17,271
  • Mar 8, 2012 10:52pm Mar 8, 2012 10:52pm
I am liking the way that silver seems to be rejecting being sucked down into that other fork. Creating a nice base support above @ 33.00 again...

Gold... Never did quite reach 1650 (area seems to have been rejected thus far) and seems to be forming a bullish hammer on the weekly. Tomorrow's close should weigh important as LP says. I do attribute this mostly to physical buying. These dips offer fresh new lows which really add up to be one big discount in the physical market.

Back above resistance below 1700. (price just above 1700)

Quoting beeb
G'day all

Good day of consolidation for the metals though we have tomorrow's possible NFP shennanigans to put up with.....

Following on from post #17312 it looks like SI found some support at the green LP as I had hoped:

http://www.screencast.com/t/St07Q5qKgqg
........................................

Big day tomorrow with NFP - good trading and DYODD

beeb
Attached Image (click to enlarge)
Click to Enlarge Name: xau bullish hammer weekly.GIF Size: 9 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,272
  • Mar 8, 2012 11:27pm Mar 8, 2012 11:27pm
Quoting XTrade
I am liking the way that silver seems to be rejecting being sucked down into that other fork. Creating a nice base support above @ 33.00 again...
Maybe - but the red downfork is still the one in control IMHO....

beeb
  • #17,273
  • Mar 8, 2012 11:33pm Mar 8, 2012 11:33pm
Quoting lilpip
I read a few days back and thought andrew and jim sinclair pretty much told it like it was.
although they are more knowledgable, sometimes there are some over their because of their enthusiasm let their bias get in the way.

A large bucket of salt is always handy lol.....

beeb
  • #17,274
  • Mar 8, 2012 11:35pm Mar 8, 2012 11:35pm
Quoting Blythe
whatever they need the number to be, unfortunately it will be
Congratulations Blythe - you just gained a Doctorate in Economics from the University of Life lol

beeb
  • #17,275
  • Mar 8, 2012 11:49pm Mar 8, 2012 11:49pm
It's time is running out. If it doesn't suck her into the darkside soon the PA should pass through back into the upwards... timewise and support wise

just a thought.

Quoting beeb
Maybe - but the red downfork is still the one in control IMHO....

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,276
  • Mar 8, 2012 11:54pm Mar 8, 2012 11:54pm
They make those you know!!!

I think there for envelope pushers or some shit!

Quoting SunTrader
Huh?
Does that mean put a condom on your typing fingers?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,277
  • Mar 9, 2012 12:04am Mar 9, 2012 12:04am
Quoting XTrade
It's time is running out. If it doesn't suck her into the darkside soon the PA should pass through back into the upwards... timewise and support wise

just a thought.
Absolutely but the downfork has been in control since the autumn (fall) and until it has breached it still rules. If, as I have mentioned, we get a breach and the downsloping lines that were resistance then become support I would view that as very bullish....The fundamentals make me think that will happen - but whether it's on this move or not I don't know..

Tight stops going into NFP for me though others might widen their stops to avoid getting picked off.

beeb
  • #17,278
  • Mar 9, 2012 1:54am Mar 9, 2012 1:54am
Quoting Blythe
you're welcome!
1. the drop to 1600 is still possible. Even if both requirements are met (see my previous post) it is still possible that current selloff is a part of wave (d). But I doubt it. The sell off was vicious which is indicative of a beginning of high order wave i.e. wave (e). The wave structure of a drop suggests that new high (>1790) should be expected (1800+).
2. If my last chart is correct gold will hit 1900 by April 29th
read with interest ...

can u pls run by us the charts again ... what is the wave e u are talking about ? which 'precious post ' are u referring to ? why April 29th ?
  • #17,279
  • Mar 9, 2012 2:18am Mar 9, 2012 2:18am
i am just wondering ... will it do a head and shoulders again and play within the range ?

appreciate critical analysis . tks
Attached Image
  • #17,280
  • Mar 9, 2012 3:21am Mar 9, 2012 3:21am
Quoting forexfacts
Thank you very much, you are always straight to the point Please keep sharing, i like your confidence
you're welcome!
Lehman Sisters Wouldn't Have Failed
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