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

  • #21,061
  • Sep 28, 2012 1:41pm Sep 28, 2012 1:41pm
Could be a possible cup and handle almost formed.

Have to brush up on them as I haven't traded one in a while, although I believe we did mention this possibility weeks ago in this thread.

Otherwise I am liking the possibility of the bullish flag on the daily or weekly. Although both may have the same result the daily may give better clues as to what is happening. Can't hurt to watch H4 as well.

http://i.investopedia.com/inv/dictio...and_Handle.gif
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,062
  • Sep 29, 2012 4:14am Sep 29, 2012 4:14am
http://www.traderdannorcini.blogspot.co.uk/

beeb
  • #21,063
  • Sep 29, 2012 2:00pm Sep 29, 2012 2:00pm
Quoting zusch
Got to wait 'till the end of the month and evaluate. Currently we are sitting at what would be the 38.2% retrace if the month closed now (33.85). I think this could get bought and monthly candle finishes closer to its highs.
I hope everyone wasn't scared by last weeks minor retracement and held their silver & gold. Now that the monthly candles are closed and look like more bullish action is coming.

1750 and the 38.2% retrace are in confluence so that would be the first area of support. The 50% Fib which served as the bottom for Wednesday's pin bar, would be second support.The only chart I'm not happy with is the weekly chart which broke the previous weeks lows, but closed almost unchanged. That is not the cleanest pattern, but I believe monthly/daily charts paint the clearest picture.

When you see clear support levels like this happen, sometimes it happens that the areas won't even be retested because the momentum just continues up from the very beginning of the month. I would be surprised and even concerned if the 50% Fib was tested.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #21,064
  • Sep 29, 2012 8:33pm Sep 29, 2012 8:33pm
Quoting zusch
I hope everyone wasn't scared by last weeks minor retracement and held their silver & gold. Now that the monthly candles are closed and look like more bullish action is coming.

1750 and the 38.2% retrace are in confluence so that would be the first area of support. The 50% Fib which served as the bottom for Wednesday's pin bar, would be second support.The only chart I'm not happy with is the weekly chart which broke the previous weeks lows, but closed almost unchanged. That is not the cleanest pattern, but I believe monthly/daily charts paint...
Holding strong!

I was expecting some consolidation after the 4 up weeks. The weekly chart looks strong. The long lower wicks suggest that there are a lot of buyers buying the dips. Looks good!
Get money, don't let money get you. @kauaiforex
  • #21,065
  • Sep 29, 2012 10:02pm Sep 29, 2012 10:02pm
Gold priced in Euros has made new highs.

http://i1185.photobucket.com/albums/...oldinEuros.png
Get money, don't let money get you. @kauaiforex
  • #21,066
  • Sep 30, 2012 1:43am Sep 30, 2012 1:43am
we are safe in the middle

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  • #21,067
  • Oct 1, 2012 7:46am Oct 1, 2012 7:46am
Quoting XTrade
Could be a possible cup and handle almost formed.

Have to brush up on them as I haven't traded one in a while, although I believe we did mention this possibility weeks ago in this thread.

Otherwise I am liking the possibility of the bullish flag on the daily or weekly. Although both may have the same result the daily may give better clues as to what is happening. Can't hurt to watch H4 as well.

http://i.investopedia.com/inv/dictio...and_Handle.gif
Agreed,

cup and handle, with handle pointing to 2000s.

But before that, we are going to see some ranging -

Trade Safe

R
  • #21,068
  • Edited 10:27am Oct 1, 2012 8:02am | Edited 10:27am
get ready for 1800 breach and retest
setup didn't worked
  • #21,069
  • Oct 2, 2012 2:45am Oct 2, 2012 2:45am
Some interesting charts:

http://www.safehaven.com/article/271...stance-at-1800

beeb
  • #21,070
  • Oct 2, 2012 6:32am Oct 2, 2012 6:32am
Yeah...basically he is not overruling the up trending support that started in oct 2008 and was breached on the downside in may 2012...but it would be nice a re-test of that support around 1734-1745 or at 1975-1980, resistance level, so it can make me really believe in that channel again...
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  • #21,071
  • Oct 3, 2012 2:40am Oct 3, 2012 2:40am
Like I said.just demos for next 6 months on gold and siver.

Can any body please point me in good direction where I can learn about these metals and how they trade.Something along the line of Babypips but for gold and silver.

Many thanks and good luck
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We miss 100% of the shots we don't take
  • #21,072
  • Oct 3, 2012 6:13am Oct 3, 2012 6:13am
My broker have just increased the margin for Gold and silver will be applicable frm tommrow.
  • #21,073
  • Oct 3, 2012 6:18am Oct 3, 2012 6:18am
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  • #21,074
  • Oct 3, 2012 7:01am Oct 3, 2012 7:01am
Weekly Candles
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  • #21,075
  • Oct 3, 2012 7:39am Oct 3, 2012 7:39am
  •  SwissRaj
  • | Joined Aug 2010 | Status: (¯`·._.· the lonely trader ·._.·´¯) | 109 Posts
Quoting Paras4you
My broker have just increased the margin for Gold and silver will be applicable frm tommrow.
... and your broker is..... ?
>>> psychology is more important than technicalities ^_^
  • #21,076
  • Oct 3, 2012 7:40am Oct 3, 2012 7:40am
  •  SwissRaj
  • | Joined Aug 2010 | Status: (¯`·._.· the lonely trader ·._.·´¯) | 109 Posts
Quoting vinnethb
Attachment
excuse my huge ignorance... but exactly why 1690????
>>> psychology is more important than technicalities ^_^
  • #21,077
  • Oct 3, 2012 7:42am Oct 3, 2012 7:42am
Quoting salman14
Weekly Candles
Not yet a "bearish divergence" as there is no evidence yet that the uptrend has stalled...

Also if you really think your C is valid and that gold is going to go to 1066 (without showing additional reasoning) then I know somebody in London that has a very nice bridge for sale lol



beeb
  • #21,078
  • Oct 3, 2012 7:56am Oct 3, 2012 7:56am
Quoting beeb
gold is going to go to 1066
the chart that he posted is S&P500 I believe
  • #21,079
  • Oct 3, 2012 8:08am Oct 3, 2012 8:08am
Quoting grandia
the chart that he posted is S&P500 I believe


Damn - I really wanted to sell that bridge.......

beeb
  • #21,080
  • Oct 3, 2012 8:22am Oct 3, 2012 8:22am
Quoting SwissRaj
... and your broker is..... ?
My broker is Nepal Mercantile Exchange Limited, it is affilitated with Chicago Mercantile Exchange.
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