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

  • #18,481
  • Edited 11:23am Apr 17, 2012 9:37am | Edited 11:23am
Quoting jsr
beeb, based in your blue fork, price made a lower low, and found support in the warning line of the red fork.

This is an Andrew's pitchfork in m30.

It seems to me that downside waves are becoming weaker.

However, I'm targeting 1625, based in my H1 chart.

It's not so much where the spike down went to but where resistance now kicks in that I'm looking at. On that timeframe from a bullish perspective I would not like to see resistance below 1650ish.......

beeb

EDIT - to indicate whether the move was a flush or a breach........

EDIT 2 - as the 1650 area did not provide resistance on the way back up I'm now looking to see if it again provides support. If so then we have seen a typical flush to blow out stops. If the support levels come in somewhat lower than 1650 and the highs in the fork are not maintained then we have a lowering of price in the fork and bearish context. If support and resistance are maintained or move higher in the fork then a bullish context remains.....
  • #18,482
  • Apr 17, 2012 9:38am Apr 17, 2012 9:38am
Haven't had much time to post between trading and being out of the house.

I see gold just took a whack and all other metals are around the same....

poor US industrial production numbers and Obama is speaking...

Not sure of reason.

Euro / GBP and Swissy all seem to have erased gains and losses respectively,
and Kiwi and AUD are up off lows looking to break higher it seems.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,483
  • Apr 17, 2012 9:49am Apr 17, 2012 9:49am
looks like the dip is getting bought,
Keep an eye on Kiwi and AUD. On H4 Kiwi still time to enter if you want to play range.

AUD I would like to see a reversal here.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,484
  • Apr 17, 2012 11:59am Apr 17, 2012 11:59am
CAD big reversal also.

Maybe Obama's Speech?

Obama on Tuesday called for Congress to increase federal oversight of oil markets in what is shaping up as a major election issue.

http://www.whitehouse.gov/the-press-...on-oil-markets


"... doing everything we can to ensure that an irresponsible few aren’t able to hurt consumers by illegally manipulating or rigging the energy markets for their own gain. We can't afford a situation where speculators artificially manipulate markets by buying up oil, creating the perception of a shortage, and driving prices higher -- only to flip the oil for a quick profit. We can’t afford a situation where some speculators can reap millions, while millions of American families get the short end of the stick. That’s not the way the market should work. ..."</SPAN>
I have no enemy; I make Incautiousness my Enemy.
  • #18,485
  • Apr 17, 2012 1:26pm Apr 17, 2012 1:26pm
1640 become a good support...
  • #18,486
  • Apr 17, 2012 7:51pm Apr 17, 2012 7:51pm
been sayin to short U/Cad for days now.
Quoting jimobiwan
CAD big reversal also.

Maybe Obama's Speech?

Obama on Tuesday called for Congress to increase federal oversight of oil markets in what is shaping up as a major election issue.

http://www.whitehouse.gov/the-press-...on-oil-markets

[color=#333333][color=#333333][font=Arial]
[b][color=#333333][font=Arial]"... doing everything we can to ensure that an irresponsible few aren’t able to hurt consumers...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,487
  • Apr 17, 2012 7:53pm Apr 17, 2012 7:53pm
Quoting XTrade
been sayin to short U/Cad for days now.
But Obama is much ado about nothing when it comes to speculators. Just politicking.

Crude was up today.
  • #18,488
  • Apr 17, 2012 7:55pm Apr 17, 2012 7:55pm
Quoting Sreym33
Gold Spiked down this morning... This may be why according to ZH.
http://www.zerohedge.com/news/gold-s...talk-down-gold
I subscribe to that take
Life's a bitch....so be a dog and cover it!
  • #18,489
  • Apr 17, 2012 9:11pm Apr 17, 2012 9:11pm
Quoting jimobiwan
CAD big reversal also.

Maybe Obama's Speech?

Obama on Tuesday called for Congress to increase federal oversight of oil markets in what is shaping up as a major election issue.

http://www.whitehouse.gov/the-press-...on-oil-markets

[color=#333333][color=#333333][font=Arial]
[b][color=#333333][font=Arial]"... doing everything we can to ensure that an irresponsible few aren’t able to hurt consumers by illegally manipulating...
Just a bunch of cockamamie bullcrap.....all it will do is stop the little guys from trading same as dodd/frank did to silver and gold for us residents.
Oil is tied to USD as is gold...and vice versa....the fed controls the value of the dollar by printing more money.
The central banks also make beaucoup dollars from both sides when there is war. Same as they have always done since the rothchilds and the war with napolean.
Obummer is full of crap.
Life's a bitch....so be a dog and cover it!
  • #18,490
  • Apr 17, 2012 10:48pm Apr 17, 2012 10:48pm
Quoting Euroscum
yeah is a bit boring here. No Banter either .

Ok I will play, I think there is most likely a long on xag now to this trend line.
Nice chart reading there, well done my friend
  • #18,491
  • Apr 18, 2012 1:27am Apr 18, 2012 1:27am
Quoting forexfacts
Nice chart reading there, well done my friend

Thanks, this line has been respected all thd way down more or less, so it is a strong trend. Along with the current support/resistance pivots and the current range it seemed an OK call.

Mind you not so many pips in it now as it forms a wedge.
Attached Image (click to enlarge)
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  • #18,492
  • Apr 18, 2012 1:49am Apr 18, 2012 1:49am
Quoting XTrade
been sayin to short U/Cad for days now.
This is a nice range play of 100 pips. Bit off topic but I have an optimistic order on for USD/CAD as well.
Attached Image (click to enlarge)
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  • #18,493
  • Apr 18, 2012 3:29am Apr 18, 2012 3:29am
http://news.goldseek.com/GoldSeek/1334682000.php

http://www.marketoracle.co.uk/Article34179.html?

nice reports!
  • #18,494
  • Apr 18, 2012 4:08am Apr 18, 2012 4:08am
Quoting Euroscum
Thanks, this line has been respected all thd way down more or less, so it is a strong trend. Along with the current support/resistance pivots and the current range it seemed an OK call.

Mind you not so many pips in it now as it forms a wedge.

Nice job, clean and simple! what is your outlook for long term, metals going up or down?
  • #18,495
  • Apr 18, 2012 5:13am Apr 18, 2012 5:13am
Nice video showing different scenarios:


Inserted Video



Which one is more likely in your view?
  • #18,496
  • Apr 18, 2012 6:11am Apr 18, 2012 6:11am
Quoting lilpip
eye on the primary and secondary trend, the new quarterly cycle and the battle at hand.
single year trendguide or pivot 1600 holding.
1st quarter trendguide 1632 holds on rotation back as quarterly cycle ends.
As we move forward onto the 2nd quarter the trendguide is 1688-89.
the battle continues.
weekly
1689
1655-57
1613
  • #18,497
  • Apr 18, 2012 7:02am Apr 18, 2012 7:02am
Quoting lilpip
the battle continues.
weekly
1689
1655-57
1613
Nice to see you Lilpip, and your figures
  • #18,498
  • Apr 18, 2012 7:13am Apr 18, 2012 7:13am
its been knocking around since 14MAR in this range. Waiting for an explosive break out.

Swing low is yesterday low so we have a higher low, now lets please have a higher high.
I have no enemy; I make Incautiousness my Enemy.
  • #18,499
  • Apr 18, 2012 8:40am Apr 18, 2012 8:40am
My H1 spider's web updated with less encryption.
Attached Image (click to enlarge)
Click to Enlarge Name: xau-h1-20120418.png Size: 72 KB
  • #18,500
  • Apr 18, 2012 8:40am Apr 18, 2012 8:40am
Quoting jimobiwan
its been knocking around since 14MAR in this range. Waiting for an explosive break out.

Swing low is yesterday low so we have a higher low, now lets please have a higher high.
Maby Now Start Flying....
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