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

  • #18,041
  • Mar 27, 2012 4:16am Mar 27, 2012 4:16am
Look at that shooting candle!! on Barrick,

did you buy below? EDIT:: JUST RE READ POST 44 75 entry - NICE

I would still buy this stock at this price.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,042
  • Mar 27, 2012 4:18am Mar 27, 2012 4:18am
beeb brother,

when you have a chance please update us with the double fork chart!

The one I say has the darkside fighting to suck the price down, you know.

Quoting beeb
Interesting times......

GC is bang up at diagonal resistance from early feb but for the time being is holding there. Given that daily MACD has crossed up from oversold I would have thought you would start to see fund flows into the long side. However we are at end of month/quarter/UK financial year so it might be the first week in April before this happens - and only if we maintain altitude.......

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,043
  • Mar 27, 2012 4:31am Mar 27, 2012 4:31am
Quoting XTrade
beeb brother,

when you have a chance please update us with the double fork chart!

The one I say has the darkside fighting to suck the price down, you know.

GC Daily

http://www.screencast.com/t/NrQNpd00

beeb
  • #18,044
  • Mar 27, 2012 4:42am Mar 27, 2012 4:42am
Quoting beeb
GC Daily

http://www.screencast.com/t/NrQNpd00

beeb
Mr. Beeb,

The chart is not able to load up. (Edit: It loads. My connection problem.)


breeze
  • #18,045
  • Mar 27, 2012 4:48am Mar 27, 2012 4:48am
Quoting XTrade
But u can still tell me

A. Are you trying to retrace an old move to forecast price UP
B. Trying to retrace an old move to forecast DOWN.

Tell me which one and I will use the record High and the according swing LO

pull the fibs and post the chart....

But I'll post it tomoro

K?

So which one?

Trying to find good intra week and day levels to buy/sell.
I normally choose big places like 29DEC low and 29FEB as high. Trying to find spots that could have told me lows of 06MAR, 14MAR and 22MAR and the lower high at 12MAR day high.

How do you view an inside day in terms of the daily swing low/high?

Thanks

Another Q on FIBs. If i pull the line from an older low to a newer high (ie from lower left to upper right) the FIB scale is upside down, ie the low is 100% and the upper is 0%. and the FIB scale is the other way around if i pull it from an old higher to a newer low, ie top left to bottom right.

Is that normal? Is there a reason for that from a tech point of view that i should know to assist my trading?
I have no enemy; I make Incautiousness my Enemy.
  • #18,046
  • Mar 27, 2012 5:09am Mar 27, 2012 5:09am
Quoting jimobiwan
Is that normal? Is there a reason for that from a tech point of view that i should know to assist my trading?
the 0 represents the end, 100% represents the end in terms of ratios. 100% means price returns to its origin of that swing (be it a swing high or low) and 0 means it hasn't retraced. ratios above the 0 are 'negative' whcih i use a lot, and also taking a smaller swing and using the ratios after '100' are for exampple 161.8 and such etc


in truth despite the numbers on the tools change the actual value of the ratios don't. 38.2 is 61.8 divided by 1.618. even if u flip it its almost the same thing. Fibonacci ratios are divisions of eighhts which makes it all the same to price/time/gann traders with their square of 9s, and they are just of different harmonics really.

same thing as murrey math, its all division of eighths.
i pay close attention to numerics of the golden mean of greater importance in both price/time more than the rest of the ratios.

i hope i helped and did not just rant a lot of random words
Have I got something on my face, SOLDIER?
  • #18,047
  • Mar 27, 2012 5:10am Mar 27, 2012 5:10am
Yes it is completely normal and this is what I was trying to explain to you before while asking
what your purpose was

Either to retrace GOLD

UP or DOWN, now it seems you have said that it is both. so you should have two charts with two diff fibos one for selling and one for buying

OR

2 fibos on the same chart in different colors like red for selling and blu or green for buying, yet this can get messy and the fibs may overlap and confuse you.

Here is a fibo to retrace gold UP from the ALL TIME HIGH.

I will do one also for tracing gold down from the all time high.

Here are three examples.

The first one is the most recent and maybe the most valid and traded. Not that the others are invalid they are just pulled on the weekly and should be traded accordingly.

The first on is an extra.

Note on the last one the red line. It should "technically be pulled" to the first low, yet since they are basically the same low and the PA in the middle could be called noise I pulled it to the last one to extend the lines

Quoting jimobiwan
Trying to find good intra week and day levels to buy/sell.
I normally choose big places like 29DEC low and 29FEB as high. Trying to find spots that could have told me lows of 06MAR, 14MAR and 22MAR and the lower high at 12MAR day high.

How do you view an inside day in terms of the daily swing low/high?

Thanks

Another Q on FIBs. If i pull the line from an older low to a newer high (ie from lower left to upper right) the FIB scale is upside down, ie the low is 100% and the upper is 0%. and the FIB scale is the other way around if i pull...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold fibo 3 up.GIF Size: 28 KB
Click to Enlarge Name: gold fibo two down.GIF Size: 19 KB
Click to Enlarge Name: gold fibo one up.GIF Size: 20 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,048
  • Mar 27, 2012 5:25am Mar 27, 2012 5:25am
Quoting XTrade
Look at that shooting candle!! on Barrick,

did you buy below? EDIT:: JUST RE READ POST 44 75 entry - NICE

I would still buy this stock at this price.
Thanks for the warm welcome X!

I didn't buy below, I could have bought below on a tier 1 size (.25 of my full size) but chose not to. On this idea, I want price to prove me right and hit my entery at $44.75, because I believe that if that price gets hit a snowball affect would take place and the price would probably trend higher. Your idea is correct but I guess its down to personal preferance.

As for correlations, the market as a whole is becoming less and less correlated in this low volatility environment. Its normal. I will post other trades as they come along. The correlation between GLD with the XGLD (World Gold Index)is very tight and is identified by the chart below. The orange line is the XGLD and the white line is GLD's.
Attached Image
  • #18,049
  • Mar 27, 2012 5:59am Mar 27, 2012 5:59am
Quoting XTrade
Yes it is completely normal and this is what I was trying to explain to you before while asking
what your purpose was

Either to retrace GOLD

UP or DOWN, now it seems you have said that it is both. so you should have two charts with two diff fibos one for selling and one for buying

OR

2 fibos on the same chart in different colors like red for selling and blu or green for buying, yet this can get messy and the fibs may overlap and confuse you.

Here is a fibo to retrace gold UP from the ALL TIME HIGH.

I will do one also for tracing gold...
Thanks so much.
I have no enemy; I make Incautiousness my Enemy.
  • #18,050
  • Mar 27, 2012 6:00am Mar 27, 2012 6:00am
Quoting bumapatria
the 0 represents the end, 100% represents the end in terms of ratios. 100% means price returns to its origin of that swing (be it a swing high or low) and 0 means it hasn't retraced. ratios above the 0 are 'negative' whcih i use a lot, and also taking a smaller swing and using the ratios after '100' are for exampple 161.8 and such etc


in truth despite the numbers on the tools change the actual value of the ratios don't. 38.2 is 61.8 divided by 1.618. even if u flip it its almost the same thing. Fibonacci ratios are divisions of eighhts which...
thanks so much.

I do notice a diff however. Because there is a huge gap between 100% and 61.8% whereas if its the other way around there are more levels beginning with 0%. Looking at Murray Math now. Never heard of it before.
I have no enemy; I make Incautiousness my Enemy.
  • #18,051
  • Mar 27, 2012 6:12am Mar 27, 2012 6:12am
i don't understand his EW numbering ,... especially his 4, 5 numbering .. am I missing something here ?

by the way .... what say u of his view ...?
Attached Image (click to enlarge)
Click to Enlarge Name: gpld01.PNG Size: 74 KB
  • #18,052
  • Edited 7:01am Mar 27, 2012 6:20am | Edited 7:01am
Quoting TheArcher
i don't understand his EW numbering ,... especially his 4, 5 numbering .. am I missing something here ?

by the way .... what say u of his view ...?

IMHO EW on it's own is about as useful as a chocolate teapot- it is constantly reviseable and there is always a valid reason for whatever happened even if it wasn't discernable in advance. But that's just my view and some people love it - if it makes them money, that's great.....

Nothing is impossible in the markets, but for the reasons outlined over 18,000 comments in the thread, I would estimate that the chance of gold "going to 1392 in the next three months" is less than 5%......

What do you think?

beeb

EDIT If you want to relate EW to gold I would suggest googling Alf Field.....
  • #18,053
  • Mar 27, 2012 6:23am Mar 27, 2012 6:23am
Quoting jimobiwan
thanks so much.

I do notice a diff however. Because there is a huge gap between 100% and 61.8% whereas if its the other way around there are more levels beginning with 0%. Looking at Murray Math now. Never heard of it before.
welcome,
thats simply because the default settings do not include the price levels such as .114, .889, etc...

they are all eighths. murey math is also out of eighhts. 4/8hts i 50% and etc..

gann's 25% 50% 75%. similar to Fibonacci ratios so.. lol

theyre all same thing different names
Have I got something on my face, SOLDIER?
  • #18,054
  • Mar 27, 2012 7:25am Mar 27, 2012 7:25am
Hi everyone.

I've been having problems with my office's internet service provider. I couldn't trade yesterday.

However, I'm having fun with my charts.

I want to see if gold can finally break this channel. Price have been playing with it's boundaries.

And the way price have been reacting to triangles and trendlines has been quite impressive.

This are H1 and m30 charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: xau-h1-20120327.png Size: 88 KB
Click to Enlarge Name: xau-m30-20120327.png Size: 71 KB
  • #18,055
  • Mar 27, 2012 7:40am Mar 27, 2012 7:40am
Quoting beeb
IMHO EW on it's own is about as useful as a chocolate teapot- it is constantly reviseable and there is always a valid reason for whatever happened even if it wasn't discernable in advance. But that's just my view and some people love it - if it makes them money, that's great.....

Nothing is impossible in the markets, but for the reasons outlined over 18,000 comments in the thread, I would estimate that the chance of gold "going to 1392 in the next three months" is less than 5%......

What do you think?

beeb

EDIT If you want to relate...
I dont know if price can drop below 1580, but it seems to me that september's bearish engulfing is still in control.

However, right now I give more importance to Bernanke's speech than anything else. I think people manipulating price use his speechs to make their moves.

It's just me. I'm not a normal person.
  • #18,056
  • Mar 27, 2012 8:07am Mar 27, 2012 8:07am
Comex gold options market tells me we are going to hit 1700 today. Currently gold at 1693.5
  • #18,057
  • Mar 27, 2012 8:42am Mar 27, 2012 8:42am
Quoting jsr
I dont know if price can drop below 1580, but it seems to me that september's bearish engulfing is still in control.

However, right now I give more importance to Bernanke's speech than anything else. I think people manipulating price use his speechs to make their moves.

It's just me. I'm not a normal person.
Like what Mr. XTrade mentioned, darkside fighting to suck the price down

breeze
  • #18,058
  • Mar 27, 2012 8:48am Mar 27, 2012 8:48am
Beeb, that fork chart is good work thanks to Xtrade for the reminder
  • #18,059
  • Mar 27, 2012 9:16am Mar 27, 2012 9:16am
Quoting forexfacts
Beeb, that fork chart is good work thanks to Xtrade for the reminder
Glad you found it useful.

To my mind it isn't so much the breaking of resistance (in this case) that I am looking for, rather where support steps in on the inevitable retracement......Higher support levels in the angle of the fork are bullish and conversely lower levels are bearish. Check out the link in the thread's original post for more detail........

beeb
  • #18,060
  • Mar 27, 2012 9:53am Mar 27, 2012 9:53am
b e e b !!!

SOOO happy to have you back mate! THX! Please make yourself comfy have a tea and some biscuits and stay a while!


Quoting beeb
Glad you found it useful.

To my mind it isn't so much the breaking of resistance (in this case) that I am looking for, rather where support steps in on the inevitable retracement......Higher support levels in the angle of the fork are bullish and conversely lower levels are bearish. Check out the link in the thread's original post for more detail........

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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