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

  • #19,561
  • Jun 26, 2012 12:52pm Jun 26, 2012 12:52pm
This is one of my preferred analysts.

I wrote to him before asking to explain what the score means / how it is made.

Here is a chart from Jim Wyckoff
http://www.kitco.com/ind/Wyckoff/images/gold2a.jpg

Here are some tools explained for the newbies by Jim.

Quoting Jim Wyckoff
Understanding the charts:
http://www.kitco.com/reports/template_jimw.htm
Due to popular demand, we have added Palladium to the list of Analytical Charts that Metals Analyst Jim Wyckoff features.

Sharpening Your Trading Skills: Using Bollinger Bands

Sharpening Your Trading Skills: The MACD Indicator

Sharpening Your Trading Skills: Moving Averages

Sharpening Your Trading Skills: The Relative Strength Index (RSI)
www.jimwyckoff.com

Rating system doc attached
Attached File(s)
File Type: doc Wyckoff's Market Rating System.doc   27 KB | 1,852 downloads
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,562
  • Jun 26, 2012 12:57pm Jun 26, 2012 12:57pm
Would like to see this H4 pin on gold turn to hit
1584
then 1600

otherwise we may be in for more range.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,563
  • Jun 26, 2012 1:46pm Jun 26, 2012 1:46pm
I also like Jim Wyckoff's analysises, they're easy to understand.
  • #19,564
  • Jun 26, 2012 5:21pm Jun 26, 2012 5:21pm
Lookin at a 4hr chart, its seems to me to be looking very bearish. If it lingers down around this area for a day or so, then it may plummet and take out stop losses below 1520, which will really make it free fall With the eu summit and the 10 year Italian bond auction on Thursday I think we are in for a big move up or down.

I have to add that usually when you see price test an important area a few times it breaks through eventually. Its been testing this area 6 times or so.

If I were to see some weird spike down during the Asian session tonight or tomorrow night, then it would tell me the big boys want to send this thing down.

Anyway you look at it, there is I believe a very good risk reward trade for Thursday. Up or down. Good luck http://www.forexfactory.com/images/icons/icon7.gif
  • #19,565
  • Jun 26, 2012 8:55pm Jun 26, 2012 8:55pm
May be a long entry here now

@ 1574 target 1584 if that goes loook to 1600

support at 157- -1560
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,566
  • Jun 26, 2012 11:20pm Jun 26, 2012 11:20pm
Before today I was with you on that target area 100%, but I told myself it certain areas where broke into today I would need to really reconsider my position, so after the down fall and trying to play long after my short I stop and waited as it broke some key areas of minor support. I'm looking for the 1550 area now with some type of retrace. At this moment everything is in the hands of the EU summit, which cannot be predicted 100% right until it happens. I would at least consider more than one possibility.

I know what gold is and where it will return to, but things always don't happen picture perfect. I'm just saying keep a open mind. Gold is going up and always has been, nothing wrong with it falling a little or a lot, fact being I don't think people holding physical gold mind either, they will just buy more if they really know what its about.

Quoting XTrade
May be a long entry here now

@ 1574 target 1584 if that goes loook to 1600

support at 157- -1560
  • #19,567
  • Jun 27, 2012 12:57am Jun 27, 2012 12:57am
Quoting ikdenk
I believe the demo distracts from this excellent thread.
I vote for its discontinuation.
I agree, it was a good idea at first, but it adds nothing for me. sorry X
  • #19,568
  • Jun 27, 2012 3:36am Jun 27, 2012 3:36am
Quoting XTrade
May be a long entry here now

@ 1574 target 1584 if that goes loook to 1600

support at 157- -1560
Its already 1565.
  • #19,569
  • Jun 27, 2012 3:59am Jun 27, 2012 3:59am
Quoting ikdenk
I believe the demo distracts from this excellent thread.

I vote for its discontinuation.
Agree
  • #19,570
  • Jun 27, 2012 4:32am Jun 27, 2012 4:32am
On the hour and 4 hour charts it's starting to show signs back to up trend. Wait for breakage of the Daily _Pivot at 1575.77. I was hoping 1550 area on the attempt of a fall but I may of been wanting that to soon. Wait for the news to play out today then jump in after today. Over all I'm bearish but short term future I'm back and forth at the moment. Hopefully I can see a new angle today with better technicals and I will share. Be patient and wait for opportunities

Quoting Paras4you
Its already 1565.
  • #19,571
  • Jun 27, 2012 5:02am Jun 27, 2012 5:02am
http://networkedblogs.com/zfxVn
  • #19,572
  • Jun 27, 2012 5:20am Jun 27, 2012 5:20am
Quoting Paras4you
http://networkedblogs.com/zfxVn

So what will happen to Gold with this news?
  • #19,573
  • Jun 27, 2012 6:29am Jun 27, 2012 6:29am
Quoting multi888
So what will happen to Gold with this news?
I dont knw.
  • #19,574
  • Jun 27, 2012 7:09am Jun 27, 2012 7:09am
Quoting multi888
So what will happen to Gold with this news?
never try to predict the effect. If you really want to trade the news wait for the reaction on the market. Or even better dont trade news and look at a larger time frame where news are of low importance. (except bernanke )
  • #19,575
  • Jun 27, 2012 7:20am Jun 27, 2012 7:20am
kindly comment.................
Attached Image(s) (click to enlarge)
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  • #19,576
  • Jun 27, 2012 8:00am Jun 27, 2012 8:00am
Bulls better keep in mind Silver, which is a barimeter on the world economy, is presently at 26.73 - the low back on last year's steep drop was 26.10.

Just sayin'
  • #19,577
  • Jun 27, 2012 8:42am Jun 27, 2012 8:42am
As you can see from my orange lines indicate a wedge, and it seems that we have once again not managed to break it downwards. But we also havent managed to break 1587. Once we do, i hope that we go up to the orange line around 1622.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold daily.jpg Size: 133 KB
Click to Enlarge Name: gold h4.jpg Size: 129 KB
  • #19,578
  • Jun 27, 2012 11:39am Jun 27, 2012 11:39am
Quoting therain
kindly comment.................

you have only one post here, but its great
simple but clear

by the way, do the pictures originally drew by you or someone else? Because I can see the author in these pictures with a Chinese name Wang Tao but your profile shows that you are in India.
  • #19,579
  • Jun 27, 2012 12:22pm Jun 27, 2012 12:22pm
From OTA's timeline

http://pinterest.com/pin/163114817724372874/
  • #19,580
  • Jun 27, 2012 1:07pm Jun 27, 2012 1:07pm
Can some please tell me what will happen to Gold it the Euro Zone: A, does nothing or B, gets bailed out. Or any other options. I'm a little confuse at the moment about how it will affect gold. At the moment it seems Good news drives prices in the other direction then follow with a fall, and bad news pushes the markets down at first then followed by a push up (which is completely opposite of what should happen, but I understand the "why" on that part. My mind is shot at the moment. Thanks!!
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