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

  • #18,881
  • May 21, 2012 7:30pm May 21, 2012 7:30pm
Price is moving higher into resistance, while volume is less and less - so far.

If volume doesn't pick up, in next day or two, I would be cautious.
  • #18,882
  • Edited 4:54am May 22, 2012 1:14am | Edited 4:54am
It may sound obvious or trite, but sometimes it's worth stepping back a bit and remembering that a trend is a trend until it is broken. The question then becomes how do you define a trend break....

In a downtrend I tend to look for lines that were resistance becoming support and vice versa in an uptrend. Using forks my definition of "lines" are not horizontals but instead are lines along the angle of the fork.

By this definition, on daily timeframes both GC and SI are still in downtrends. That does not mean that they have not bottomed, it means that to my mind they have not yet changed trend......

beeb

EDIT - just to be clear I am still bullish precious metals on fundamentals and will use TA to monitor the road to higher prices......
  • #18,883
  • May 22, 2012 7:00am May 22, 2012 7:00am
Tue daily pivot 28.00 and 1571 holding, what ya have ny session. Bias is up from daily trend guide.
  • #18,884
  • May 22, 2012 1:06pm May 22, 2012 1:06pm
if 1526.80 was actually the bottom and this downtrend is ready to turn back up, then here are my projections. A close below 1527 will invalidate these #'s.

1527 ==> 1598 - done
1598 ==> 1553 - ongoing
1553 ==> 1670
1670 ==> 1625
1625 ==> 1726
1726 ==> 1678
1678 ==> 1791 - 1856

I am expecting a drop right now to around 1560, a short rebound to show that the uptrend will resume and then down to 1553 to take out all of the early entries. If this happens, I will be long here and hopefully have enough patience to ride it up to 1800.

My projections have been right before and also wrong before so take em or leave em.

cheers !
  • #18,885
  • May 22, 2012 2:57pm May 22, 2012 2:57pm
I was expecting correction to go into the 1610-1620 range. Since it didn't I expect downtrend resuming with a vengence.

Might be wrong as well.
  • #18,886
  • May 22, 2012 3:13pm May 22, 2012 3:13pm
For those wishing to buy and hold XAU, I'd suggest you wait until price reverts back to at least last week's low (1527).
  • #18,887
  • Edited 4:17pm May 22, 2012 3:58pm | Edited 4:17pm
Quoting Sreym33
if 1526.80 was actually the bottom and this downtrend is ready to turn back up, then here are my projections. A close below 1527 will invalidate these #'s.

1527 ==> 1598 - done
1598 ==> 1553 - ongoing
1553 ==> 1670
1670 ==> 1625
1625 ==> 1726
1726 ==> 1678
1678 ==> 1791 - 1856

I am expecting a drop right now to around 1560, a short rebound to show that the uptrend will resume and then down to 1553 to take out all of the early entries. If this happens, I will be long here and hopefully have enough patience to ride it up to 1800.

My...
Now we are talking.

By the way, I'm expecting 1500-1510.
  • #18,888
  • May 22, 2012 5:02pm May 22, 2012 5:02pm
Have you noticed this?

Last time MVA or SMA(200) in daily was facing south was 3 years ago.

Just a curiosity.
Attached Image (click to enlarge)
Click to Enlarge Name: xau-d1-20120522.png Size: 58 KB
  • #18,889
  • May 22, 2012 7:40pm May 22, 2012 7:40pm
Gold & Silver both back below yearly opening price.
  • #18,890
  • Edited 10:59pm May 22, 2012 10:28pm | Edited 10:59pm
Quoting lilpip
Tue daily pivot 28.00 and 1571 holding, what ya have ny session. Bias is up from daily trend guide.
So far 1600 says no go.
up @ open down @ close.
drop below wed. daily trend guide 1664 noted, watching how this 1557-59 responds .
1600
1664
1528
Daily lows lining up with weekly lows area 1524, support 1524-28.
silver drop below 28-28.25 noted also.
wed daily
29.01
27.93
26.85
daily lows lining up with weekly lows 26.60-85
  • #18,891
  • May 22, 2012 11:02pm May 22, 2012 11:02pm
eyes on 1664 response from 1557.
eyes on 27.93 response from 27.73
  • #18,892
  • May 22, 2012 11:41pm May 22, 2012 11:41pm
Quoting jsr
Have you noticed this?

Last time MVA or SMA(200) in daily was facing south was 3 years ago.

Just a curiosity.
I dont know how to read the workings and patterns of sma so I havnt a clue, however sure is a good oservation .
  • #18,893
  • May 22, 2012 11:53pm May 22, 2012 11:53pm
Quoting lilpip
eyes on 1664 response from 1557.
eyes on 27.93 response from 27.73
looking at the 5 min. bounce @1557 and 27.74 lets see if she holds and gets on the otherside of 1664 and 27.93.
  • #18,894
  • May 23, 2012 2:03am May 23, 2012 2:03am
I see no trends more like fear driven buys and sells. Greeks are playing with nerves every day and every hour. For example yesterday they said (former PM) they are exiting EURO, this morning the leader of Leftist Party (which probably wins next elections) says it is not a possibility and they will do whatewer it takes to stay.

???

The best would if they shut up once and for all!
  • #18,895
  • May 23, 2012 3:41am May 23, 2012 3:41am
Hello, I have new idea, everyone can give me some recommend
Daily
Attached Image (click to enlarge)
Click to Enlarge Name: XAU.JPG Size: 168 KB
  • #18,896
  • May 23, 2012 4:01am May 23, 2012 4:01am
Quoting BlazeHun
I see no trends more like fear driven buys and sells. Greeks are playing with nerves every day and every hour. For example yesterday they said (former PM) they are exiting EURO, this morning the leader of Leftist Party (which probably wins next elections) says it is not a possibility and they will do whatewer it takes to stay.

???

The best would if they shut up once and for all!
Totally Agree
  • #18,897
  • May 23, 2012 4:35am May 23, 2012 4:35am
silver short?
http://www.kikkichimoku.com/blog/201...ort-su-h4.html
http://gyazo.com/858dc2ba158d33beda5361d8cb219b55.png
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  • #18,898
  • May 23, 2012 6:31am May 23, 2012 6:31am
Quoting Ares13
Hello, I have new idea, everyone can give me some recommend
Daily
Well, let me see, your chart looks like a pine forest. I'd say: Use some other colors.

Just kidding.

If you are asking for reasons behind our calls, mine is posted some pages ago.

I think gold can make a weekly and maybe a monthly close below 1522, perhaps near 1455-1475.

That's just me. I think the bearish engulfing in monthly is still in charge of gold, so I'm expecting new lows.

I can be wrong, but as I use stop loss I don't care that much if price goes the other way, I follow the flow.
  • #18,899
  • May 23, 2012 7:58am May 23, 2012 7:58am
Quoting jsr
Well, let me see, your chart looks like a pine forest. I'd say: Use some other colors.

Just kidding.

If you are asking for reasons behind our calls, mine is posted some pages ago.

I think gold can make a weekly and maybe a monthly close below 1522, perhaps near 1455-1475.

That's just me. I think the bearish engulfing in monthly is still in charge of gold, so I'm expecting new lows.

I can be wrong, but as I use stop loss I don't care that much if price goes the other way, I follow the flow.
Same thinking, and when the USD rise, XAU monthly close below 1475 it is possible.
BTW I think my colour are good.
  • #18,900
  • May 23, 2012 9:28am May 23, 2012 9:28am
Quoting kikkofrio
silver short?
http://www.kikkichimoku.com/blog/201...ort-su-h4.html
http://gyazo.com/858dc2ba158d33beda5361d8cb219b55.png
...fast...
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