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

  • #17,281
  • Mar 9, 2012 5:22am Mar 9, 2012 5:22am
Quoting beeb
Congratulations Blythe - you just gained a Doctorate in Economics from the University of Life lol

beeb
LOL!
Lehman Sisters Wouldn't Have Failed
  • #17,282
  • Edited 6:19am Mar 9, 2012 6:06am | Edited 6:19am
I wouldn't look at that as even a possibility. The inverse HS is still on the chart waiting to be validated or invalidated.
add: for whatever reason, old resistance, the run up, correction, manipulation, whatever,
That area - the neck was guarded by a huge order flow of shorts.

IMO - stops were triggered and the dip was accelerated.

There is still an opportunity for the price to return and break the neck. Perhaps the reason for this suppression artificial or not is that
the pattern completes and puts gold into the 1900 usd bracket.

Quoting TheArcher
i am just wondering ... will it do a head and shoulders again and play within the range ?

appreciate critical analysis . tks
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,283
  • Mar 9, 2012 6:07am Mar 9, 2012 6:07am
YOU are supposed to be working on YOUR confidence.

remember?

Quoting forexfacts
Thank you very much, you are always straight to the point Please keep sharing, i like your confidence
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,284
  • Mar 9, 2012 6:16am Mar 9, 2012 6:16am
This is what a good delivery COMEX bar looks like.

1000 ozs

These are what is supposed to be behind each futures contract.
http://upload.wikimedia.org/wikipedi...underneath.jpg
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,285
  • Mar 9, 2012 6:20am Mar 9, 2012 6:20am
Quoting TheArcher
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 ?
yes, sure!
wave (e) is a contrating triangle with reverse alternation (a>c>e, d>b) shown on chart 1.
I'm not entirely convinced that:
1. wave (d) is completed. However the drop is violent and price respected the fibo ret. levels of (c)-wave which is a must for (e)-wave. The anticipated scenario is "gold count 1". The lowest possible extremum for wave (e) is 1588, the most probable - 1638
2. wave (e) is short in time and price and 1662 is not it's low. Assuming all the requirements mentioned here http://www.forexfactory.com/showthre...46#post5454946 are met, there's stiil one possibility exists "gold count 2".
But the main count is "gold count 3". According to this count, in less than 3 weeks wave (e) will end completing wave B of higher order. Wave B is a contracting triangle so the thrust out it will be comparable in size and pace with Sept decline - wave (a) giving price/time target of 1925 and 3rd week of April. I added one more week if wave (e) takes a bit more time than expected.
1600 is still possible but pretty much out of question.
Attached Image(s) (click to enlarge)
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Lehman Sisters Wouldn't Have Failed
  • #17,286
  • Mar 9, 2012 6:24am Mar 9, 2012 6:24am
Quoting XTrade
This is what a good delivery COMEX bar looks like.

1000 ozs

These are what is supposed to be behind each futures contract.
http://upload.wikimedia.org/wikipedi...underneath.jpg
so sexy!
Lehman Sisters Wouldn't Have Failed
  • #17,287
  • Mar 9, 2012 6:32am Mar 9, 2012 6:32am
Quoting SunTrader

Brokers are also known to be right .... now and then.
Patience is magic
  • #17,288
  • Mar 9, 2012 6:54am Mar 9, 2012 6:54am
Hi Blythe.

Although we can google it, finding best resources are not guaranteed by a search.

Can you give us some links to neowaves web sites. Info, books, courses, etc.?

I'd like to evaluate it.

Thanks in advance.
  • #17,289
  • Mar 9, 2012 7:16am Mar 9, 2012 7:16am
Blythe last chart,

Bullish wedge forming.

Top establishing with multiple tests and higher lows form the wedge.
It should break in upcoming sessions.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,290
  • Mar 9, 2012 8:00am Mar 9, 2012 8:00am
Looks like positive for the NFP but really nothing the US should be too proud of.

ABYSMAL Trade balance.

Pathetic Hourly rate and High unemployment.

Great reasons to buy, yet the market hasn't moved much all week.
Instead of taking all profits last night and not trading today I decided to take contrary (OPPOSING USD) positions on the demo.

I will leave them on, and hopefully some of you can profit from the numbers.

Keep in mind there may be some nice dips to buy for later in the day prepping for next week.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,291
  • Mar 9, 2012 8:10am Mar 9, 2012 8:10am
I was very tempted to short because of the bearish enfgulfing in H4 and resistance @ 1704-07.

I decided to stay out. No regrets. I'm just thinking new lows are not so far.

Impulsive waves are in the bearish side. Downwards moves are more agressive and they are erasing in few candles every attempt of the bulls.

It seems naked shorts are using fundamentals as excuses to bring price down.

Don't know. Too newbie to know, but I'm a bit biased with (because of) patterns repeating themselves.
  • #17,292
  • Mar 9, 2012 8:10am Mar 9, 2012 8:10am
gold got a nice whack from this...

If you are looking for en entry one may be served up. I'll try and signal it if I feel it's appropriate.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,293
  • Mar 9, 2012 8:11am Mar 9, 2012 8:11am
why this short move on Gold? nfp?
  • #17,294
  • Mar 9, 2012 8:19am Mar 9, 2012 8:19am
ok, we are waiting of a new signal
Quoting XTrade
gold got a nice whack from this...

If you are looking for en entry one may be served up. I'll try and signal it if I feel it's appropriate.
  • #17,295
  • Mar 9, 2012 8:27am Mar 9, 2012 8:27am
Looks like it was 1675 1680


NOW IS A GOOD ENTRY FOR A QUICK TRADE target 3- 5 USD

LONG

TAKE AT OWN RISK - I am not a signal service

:It's on the demo anyway......
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,296
  • Mar 9, 2012 8:30am Mar 9, 2012 8:30am
i make a little trade,and i wait gold came back at 1700.


Quoting XTrade
Looks like it was 1675 1680


NOW IS A GOOD ENTRY FOR A QUICK TRADE target 3- 5 USD

LONG

TAKE AT OWN RISK - I am not a signal service

:It's on the demo anyway......
  • #17,297
  • Mar 9, 2012 8:32am Mar 9, 2012 8:32am
Quoting XTrade
YOU are supposed to be working on YOUR confidence.

remember?


  • #17,298
  • Mar 9, 2012 8:33am Mar 9, 2012 8:33am
Yes, Steve, I want to see you succeed my friend but you have a LOT LOT LOT of homework to do.

We cannot always answer the simplest questions.

Some people trade on techs, some on fundies some on both.

I trade both,

I was Up at 5 AM reading news and the upcoming releases for the day and due to the hours I spend staring at the charts, I have mental notes of where support and resistance levels, and what MY personal expectations for the day are.

Please feel free to ask things, but I am giving you an assignment for this weekend.

You are to read and understand what the positive affect and negative affect is of each of todays releases.

1. NFP
2. TRADE BALANCE
3. UNEMPLOYMENT RATE
4. Average Hourly Earnings m/m

Now once you know these on a day like today you could as most of the market did wait for the release, see if it is positive dollar - KNOW YOUR XAU to USD Correlation + or - and take a quick short.

That simple.

Then you can now take a long.

But YOU need to do the work.
Quoting stevebalmmer
why this short move on Gold? nfp?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,299
  • Mar 9, 2012 8:40am Mar 9, 2012 8:40am
If you want to scalp and got in at 1680 then you should close at 83 0r 85

If you want a longer day trade I would tend to think the price should test the 1687 88 area.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,300
  • Mar 9, 2012 8:46am Mar 9, 2012 8:46am
Why put together Trade balance and the other data, all related to employment ?

Quoting XTrade
Yes, Steve, I want to see you succeed my friend but you have a LOT LOT LOT of homework to do.

We cannot always answer the simplest questions.

Some people trade on techs, some on fundies some on both.

I trade both,

I was Up at 5 AM reading news and the upcoming releases for the day and due to the hours I spend staring at the charts, I have mental notes of where support and resistance levels, and what MY personal expectations for the day are.

Please feel free to ask things, but I am giving you an assignment for this weekend.

You are to read...
Patience is magic
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