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

  • #17,741
  • Mar 15, 2012 8:00am Mar 15, 2012 8:00am
Quoting grandia
US job claim is within expectation

Goodbye QE!

off we go gold to 1625!
u do need to also put into possible perspective this could be a shakeout

less people who filed for unemployment doesnt necessarily mean the job market is doing very well. economy/overall sentiment doesnt change just from a flash i think

but who knows the 'good' i expect today might be a good USD but unlikely imo given the conditions.
Have I got something on my face, SOLDIER?
  • #17,742
  • Mar 15, 2012 8:45am Mar 15, 2012 8:45am
Quoting beeb
Am travelling this week so unable to post much.

Here's a view of SI daily with the red fork still in control. Almost perfect bounce from the blue LP - this was validated by the previous ML action. Remains to be seen if it holds.

http://www.screencast.com/t/wQbKicaQa8

Suggest using stops is essential in this environment - and I want to reiterate that i think the downfork is still in control

beeb
Hi Beeb.

Can you upload the image again. I got a "Page not found" error message.

btw, Thanks for sharing.
  • #17,743
  • Mar 15, 2012 9:25am Mar 15, 2012 9:25am
Quoting jsr
FX Tsunami.

As i read, yo use RSI.

RSI in Monthly chart shows a bearish failure swing.


What do you think could be the worst scenario, based in daily macd divergence and this rsi bearish failure swing?
I don't follow it but some RSI users say readings shouldn't go below 40 in a bull phase or above 60 in bear phase.

Notice your chart RSI is always above 40. Of course sometimes waiting for an indicator crossing will lag. Like most analysis techniques.
  • #17,744
  • Mar 15, 2012 9:46am Mar 15, 2012 9:46am
i am long if broke 1652
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  • #17,745
  • Mar 15, 2012 10:11am Mar 15, 2012 10:11am
Yeah SunTrader.

Note that bearish failure swing signals a probable reversal. At least it shows a correction.

I guess it is invalidated if rsi crosses to the upside the imaginary line where it bounced down.

I tend to use MACD and RSI just looking for divergence, and I've found it is a reliable approach.
  • #17,746
  • Mar 15, 2012 11:02am Mar 15, 2012 11:02am
Hi People....thought some of you may be able to make use of this tick volume indicator.
Attached File(s)
File Type: mq4 TVI_v2.mq4   9 KB | 375 downloads
Life's a bitch....so be a dog and cover it!
  • #17,747
  • Mar 15, 2012 11:07am Mar 15, 2012 11:07am
Quoting dogbreath
Hi People....thought some of you may be able to make use of this tick volume indicator.
Thank you mate. I would try it.
  • #17,748
  • Mar 15, 2012 11:22am Mar 15, 2012 11:22am
descending triangle?
Attached Image (click to enlarge)
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  • #17,749
  • Edited 12:51pm Mar 15, 2012 11:32am | Edited 12:51pm
Sweet jesus!
  • #17,750
  • Mar 15, 2012 12:52pm Mar 15, 2012 12:52pm
Not sure if its going to come back down, but I hope so..
  • #17,751
  • Mar 15, 2012 1:08pm Mar 15, 2012 1:08pm
a great explanation on what is affecting gold pricing...

http://video.msn.com?vid=959c6b29-6d7b-41ed-af72-3aaf801c79bc&mkt=en-ca&from=cp^customplayer_en-ca_money&src=CPSmall:shareBar:stuck_out_tongue_winking_eye:ermalink:uuids
  • #17,752
  • Edited 4:27pm Mar 15, 2012 1:18pm | Edited 4:27pm
NICE SUPPORT reaction at channel bottom h1 view notice the blue line at bottom.

Added daily view


Like to see more movement up above 1675 maybe not today though.......
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,753
  • Mar 15, 2012 1:24pm Mar 15, 2012 1:24pm
Quoting fuse
Hi everyone, I've gone long from 1,647,71 First target 1,662.00 If price breaks trend line, I will hold. SL 1,634.00 (just below current low) Chart H4
My first target was hit. I've now moved my stop to BE and will wait to see if price will break trend line. Chart H4
Attached Image (click to enlarge)
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  • #17,754
  • Mar 15, 2012 2:13pm Mar 15, 2012 2:13pm
move sl @ be, tp 1675
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  • #17,755
  • Mar 15, 2012 2:22pm Mar 15, 2012 2:22pm
Quoting jsr
Hi Beeb.

Can you upload the image again. I got a "Page not found" error message.

btw, Thanks for sharing.

Sorry chum it seems we have technical probs - will try to upload it again tomorrow when I am next between flights........

beeb
  • #17,756
  • Mar 15, 2012 2:23pm Mar 15, 2012 2:23pm
some channel indis at the grave yard enjoy
  • #17,757
  • Mar 15, 2012 2:55pm Mar 15, 2012 2:55pm
I see wave 5 from 1656 will go up.
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  • #17,758
  • Edited 5:55pm Mar 15, 2012 5:52pm | Edited 5:55pm
Using 3 main

LONG Term AU = Well intact uptrend. Bullish. Weekly, Monthly, Q/Q Y/Y
If trending and the left side of the chart is lower than the right side, we are paring gains, making supports, and rising.

MEDIUM Term AU = COMPLETELY NUETRAL at this point. We have been in a
250 USD range from 9-15-11 (Sept) to 4-15-12 (April- Today)
Dips erased by highs, highs erased by dips. Neutral -
Bottom 1545 > Top 1795 Middle = appx current price as of this post
1656 - Could go up, could go down, until one of the major S/Rs are broken
we go sideways / up and down. While the LT trend remains up and there is little resistance on the way, it will be easier if buying resumes to make a new high-There are plenty of supports on the way down.

Shot term: Bearish, but this can change in several ticks/minutes,

Take a look at this long term chart.
2000 -to-2013
[IMG]http://www.kitco.com/LFgif/au00-pres.gif[/IMG]

Quoting whatfx
if market falls further, i see good buying area at around 1598.

a very strong buying area at around 1530.

long term view, gold is on a decline. with corrections to the upside intermitten. we can trade longs at appropriate levels of decline. overall the year will probably end in a decline in gold prices from the start price of this year.

i have entered a long at 1544. enough range to the upside to take a good few pips. will add further longs if price drops, at levels stated above.

[b]but the long term view seems to be that...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,759
  • Edited 7:22pm Mar 15, 2012 6:51pm | Edited 7:22pm
Okay - up and running again.

Here's the SI daily previously posted with a few more lines added to the red downfork to show more of the validation in it. If you need some help in learning how to trade forks (i'm talking to you buma ) suggest you might find some assistance in the post linked from the thread's first post.....

I still see the red fork as being in control and the breach of the UP a few days ago is still only a flush until price finds support at or above the UP

beeb
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  • #17,760
  • Mar 15, 2012 8:37pm Mar 15, 2012 8:37pm
Thursday's daily bar was an inside day. Watch to see if Friday signals what early next week's direction might be.
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