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

Well I got out with a loss of a little profit but no big deal. I was trying to predict how far down it would go before this move up, which I illustrated but I was off. I should have realized it was the end of the month and if it stayed where it was at without dropping off substantially, then it would on showed signs of a reversal on a monthly chart (Look at my previously posted chart).

I could see in the chart this crazy move up was being triggered on the way down, by the market putting massive buy orders around the 1600 plus area that created a resistance barrier. These buy orders were being hedge by large institutions and their sell orders were larger than their buy orders (hinting on why it was going down all week, but very slow). So they waited when the world was sleeping to take their profit with a bit of coordinated positive news. This made the markets weight transfer back to the areas of their resistance after they took their profit on the sell orders. All the buy orders were mainly around the 1600 area they will want to turn those into a bit off profit as well. They can do this by switching the majority to a bullish mentality and drive it up (which is happening now). That’s why I said before it would be the 1620 area and below for where it will stall out at. Which I suspect will happen over the weekend with a gap upwards.

The news being put out last night by Europe is nothing to get excited about, but these large institutions that collaborate together, make it something to get excited about. Be patient with this situation and don’t expect anything until it’s over; It’s only being manipulated. There are so many angle to look at it’s always so easy to forget a few things that really need to be factored in a situation. Timing is the hardest thing to predict with this and that’s what I’m working on.

My views are not to support America it’s to understand the sediment of multiple outcomes that all have one ending. America will shine once more with all the fucked up problems here to, but ultimately the problems are mainly focused on Europe, and people are out here to make us think otherwise. Both nations will get what’s coming; it’s just a matter of time and who will blow first…Markets are smarter now and they don’t want everyone to get an easy ride down or up! We all know from the past what to look for, that drives markets, so they switch it up a bit to shake out all the people that want that easy ride.

All of this is why it’s best to play long term trades at the top of a market and the bottom. If you would have had a sell stance at 1640, you would still be ok, because you’re in a safe place to play the waiting game. The same goes if you were to have a buy from the low 1530’s allowing yourself the safety to wait until the next target of 1640 and take your profit and sell at the top. That’s the way to play this game.
I have a few account that allow me to play long term, medium term and short term; this allows me to learn how every time frame works. I will tell you though, the hardest time frames to play are the small to mid-timeframes, this is all because there are a million possibilities and it way too hard for a human to calculate, and that’s why there are computer system that does this for banks and individuals.

Hope this help somewhat and I wish everyone a great weekend...

She is struggling a bit with the 50 day SMA nonetheless I will take this close any day of the week.

So far a $45 USD day.

Definitely a bullish sign fr going into next week.

NYC Spot Board Closes

Part II and III coming soon ( to a rollercoaster near YOU!)

Hey guys , I need your help
where can I get historical tick chart for gold ??
Can I get it on my mt4 platform ? or not

NO. There is a clear bullish sign, if you have held these positions this long you might as well hold them longer.

BE = Break even. Your Goal should be to make some profit.

Cut the hedge if you haven't done so already (I hope you did after today)

Now just let the positions ride. you may want to cut the position at 1700 as well and just open a new buy once the market settles a bit on monday or late sunday night to recoop the losses at a better, safer entry point.

IMO.

You really need to do some homework over the weekend.
Go to baby pips .com and read also browse the forum you are in here as well as the beginner's section here.

Also do some research on GOLD in general to get an idea of what you are actually dealing with.

Why would you even want such a thing might I ask?

And sorry I have no clue. I don't think many people take the time and waste the server space to save tick chart data, unless they are JPM or some hedge fund who uses super fast scalping algorithms.

As far as your mt4 platform I don't know why don't you try? Doh!

Thanks XTrade for your speedy reply
feel free to ask anything ,
I can tell you that tick chart helps me to determine retracement very well but the problem is I can't get the 1 hour history tick chart when I need it , that's why I want to get it .
any way I want to make my point clear , sorry if I confused you .

What a great AusAsian thru LDN into NYC close.And Breakout! or outBREAK!

Nice 3 candle reversal, well maybe four.
Down candle almost maribosu (or however you spell it) next indecision with a spinning top- to small bullish hammer to beginning breakout.

All ticks are the same, it makes no difference if you are using the tick chart on a daily or an M1 it is the same tick.

Don't know if that helps.

Personally I wouldn't trade or base too much on the tick chart but that't me.

I know that there are tons of hot shot pro traders that trade the tick or the 1 S OR 2/3 Second chart.

I will glance at the tick chart on occasion when trading H1 to not be skewed by the noise of the lower time frames and get trapped in them, only for the purpose of saving a few pips on entry.

How does it help you with retracement?

-----------------------

Sure there is a way to get it if you pay for a charting package that is expensive.

I just tried scrolling back in MT4 on the tick and it did not work.

It is really just a lot of noise and too much so to be considered viable info to save. No one really cares the next minute what happened 10 ticks ago that use it to trade, know what I mean?

Looks like your observation panned out nicely!

NICE WORK!

X

Welcome to the thread hope you will continue to share.

what a week we had I lost to regain those losses later and end up in profit for the week. What about you guys ?

Posted the graph already earlier this weel, for some time i thought the wedge was broken, an outbrake on the top would be awesome.

Thanxx you X-trade,
Do you mean I need to hold my sell position?
What is the meaning of cut the hedge? I haven't do it until now.
When I have to cut the 1700? And in what price I have to buy?
Sorry for asking a lot of questions,but It make me confused... What I have to do, what I don't have to do
Could you give me an idea, please?
Please command me...
I already browse baby pip.com , thanXx you again.

Although Friday's trading had approx double the average volume of the past few weeks there are still fundamental programs in EuroLand that seem to control the destiny of markets far and wide.

See what you think of this analysis:

Wolf Richter www.testosteronepit.com

Markets soared in Asia, Europe, the US, everywhere. Let the good times roll. The euro jumped to the highest level in a couple of weeks. Yields on Spanish bonds plunged to the lowest level since, well, Monday. A miracle had happened. German Chancellor Angela Merkel had blinked. Um, a little bit.

All eyes were on her at the EU summit in Brussels, the one summit that would once and for all save the Eurozone, THE summit, where she’d be forced to submit to the majority of the Eurozone, and indeed to the majority of the world, and where she’d be forced to come to her senses and give in to the demands set out before the summit.

There was the Grand Plan, issued by European Council President Herman Van Rompuy. It included all the goodies: a European Treasury with power over national budgets and how much countries could borrow; Eurobonds; a banking union that would guarantee deposits; and the ESM that would bail out banks directly.

There was French President François Hollande’s plan, first issued during his campaign, then reiterated many times since. It included Eurobonds and the ability by the European Central Bank to directly buy sovereign bonds of debt sinner countries. He’d formed a triumvirate with Italian Prime Minister Mario Monti and Spanish Prime Minister Mariano Rajoy to corner Merkel.

Rajoy had been begging for help but didn’t want Spain to take the bitter medicine that the bailout Troika would prescribe if he asked for a full-fledged bailout. Hence his emphasis on bailing out the banks directly, and let Spain run its dismal affairs as it saw fit. Monti had warned last week that the Eurozone would break apart if summit attendees didn’t sign off on his list of items that were “absolutely necessary” to save the Eurozone.

So, here are the summit results on these items:
- Eurobonds? Nein.

- A banking union with tools to prop up banks and with a common deposit insurance fund. Nein.

- Allowing the ECB to buy sovereign bonds directly? Aber nein!

They did agree on a common banking regulator (even Merkel had wanted that). Of course, they already have one, the European Banking Authority (EBA), established in late 2010. It conducted “stress tests” on 91 major European banks. Results came out in July 2011. And in October, the 12th safest bank, the Franco-Belgian megabank Dexia, collapsed.

So now, they want a different regulator. The ECB should play a role, the agreement said, but.... The Federal Association of German Banks and the Federal Association of Public Banks both expressed their opposition to the ECB becoming a regulator. Since the UK declared it wouldn’t have any part of it, German banks were worried that they’d experience pressures from the regulator that UK banks would not experience. And they were worried about the conflict of interest between the ECB’s role in funding states and in supervising banks that were also funding states.

And Merkel did blink. Or at least she redrew the line in the sand: she agreed to the tweaking the European Stability Mechanism (ESM), the permanent bailout fund. The ESM doesn’t exist yet and hasn’t been ratified by a whole slew of countries, and it’s getting scrutinized by the German Constitutional Court, but assuming it will see the light of the day, it would be changed in several ways, including:

- It can bail out banks directly, rather than lending to the government which then recapitalizes the banks. This way, on paper, this new debt to bail out the banks would not raise the indebtedness of the country.

- It can buy sovereign bonds of countries that stick to their commitments to cut budgets and implement structural reforms; thus, no further austerity measures if they ask for aid.

However, funding banks directly won’t be possible until after the Eurozone banking regulator has been established. The Commission will present a proposal in the near future. If all member states pass it by the end of the year, direct aid to banks would be possible at the earliest in 2013.

So, the ESM will be able to bail out Spain and Italy, and their banks, and all the other countries, to which Slovenia may be added by end of July—and do all this with the €700 billion it may in theory have some day. In theory because the €700 billion includes the contributions of Spain and Italy, the very countries that the fund would have to bail out.

Merkel’s switcheroo on the ESM caused some consternation in Germany. “A new breach in the dam,” it was called. Others complained that “the ink isn’t dry and they already announce the next changes,” and that it was one more step towards a “transfer union.” As before, it will pass. The line in the sand has been moved. That's it. None of the fundamental problems have been solved. And the wait for Merkel’s big blink on Eurobonds continues.

In Cyprus, it’s panic time. €1.8 billion is needed by June 30. That’s just the beginning. Its banks have been eviscerated by Greek government bonds, Greek corporate debt, a real estate bubble that collapsed, and a title-deed scandal that they colluded in. It has a communist president and vast deposits of natural gas. Russia and China hover nearby. And now Cyprus points out, unwittingly, why no country should ever transfer even more sovereignty to the EU. Cyprus and the EU: Bitter Medicine.

And here is the hilarious video from down-under comedians Clarke & Dawe that in 2.5 minutes summarizes with superb accuracy the entire Eurozone debt crisis.

http://www.testosteronepit.com/clark...-european-debt

Thank you so much, that was so extremely clear and right.

GC Daily

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

Red downfork is working well with resistance along the quartile.

Blue upfork is mod schiff from 2008 low - still too early to be validated but showing a couple of good rejections of the LP



SI 240

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

Might be worth watching to see if purple line becomes support again.

beeb

EDIT - It's worth remembering that this week has a US holiday bang in the middle of it and ends with NFP........

Hi,

can you help me in drawing these forks on my charts.
Thanks

I use Ensign charting with Esignal feeds so unless you do as well, the answer is obviously "No".......

beeb

hello all,
i published last step of my gold trading using PA + Options + Cot Reports
if anyone interested here's the link
http://www.dukascopy.com/fxcomm/fx-a...ication&id=882

i would like to have opinions and/or comments, likes, dislikes etc... i'm learning everyday new things!
thank you

beeb, are Tim Morge's videos good enough?


jaimini, in http://www.forexfactory.com/showthread.php?t=76597 you may find some info.

Also there is a tool for MT4, if that is what you use.

http://www.forexfactory.com/showthre...13#post5778713

Hope that helps.