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

  • #22,121
  • Jan 6, 2013 4:11am Jan 6, 2013 4:11am
ivars,

no, ur reply is not long . appreciate the elaboration and the clarity of thought

thanks for ur answers and thoughts


  • #22,122
  • Jan 6, 2013 4:26am Jan 6, 2013 4:26am
Xtrade and split-unit - thanks

GC 240 - This old fork shown many times before is still worth watching..

The exact LP touches (green circles) so far apart confirm that it is perfectly aligned with the direction of price.

The three touches at resistance (blue circles) show the line of resistance that needs to be taken out - ideally, for the bullish case, I would like to see that line breached and then become support on a retest.

The purple circles show support may be coming in at a higher level in the fork - if this continues it shows that price is succeeding in trying to fight its way out of the downtrend and that we are forming a bottom on this timescale....

http://www.screencast.com/t/g5wkzBp2

beeb
  • #22,123
  • Jan 6, 2013 4:32am Jan 6, 2013 4:32am
the range play?

triple top reversal brewing ?
Attached Image (click to enlarge)
Click to Enlarge Name: goldrange.png Size: 27 KB
  • #22,124
  • Jan 6, 2013 7:23am Jan 6, 2013 7:23am
Quoting TheArcher
the range play?

triple top reversal brewing ?
Looks like big inverse head and shoulders.
Right shoulder still not finished. Complies with triangle range bound oscillations.
If that turns out bullish, 2100 is in sights in Autumn.
  • #22,125
  • Edited 12:32pm Jan 6, 2013 7:44am | Edited 12:32pm
Quoting ivars
Looks like big inverse head and shoulders.
Right shoulder still not finished. Complies with triangle range bound oscillations.
If that turns out bullish, 2100 is in sights in Autumn.

er ... help a blindman to feel the charts .... where do u see the inverse head and shoulders ?

the anticipated inverse H&S did not turn up ... the cup and handle is invalid (or is it in play?) ... what's next ?
Attached Image (click to enlarge)
Click to Enlarge Name: goldrange01.png Size: 32 KB
  • #22,126
  • Jan 6, 2013 7:46am Jan 6, 2013 7:46am
Quoting cnnewt61
there is one guy named BEEB, who has many forks.
but none of them is useful for real trading.
just put the fork after the price. anyone can do that.
Don't you think it ain't useful for you because you don't know how to read and how to use a fork?

I think you'd rather say "That's Greek to me" and then remember that there is a lot of people that actually speak greek.
  • #22,127
  • Jan 6, 2013 9:33am Jan 6, 2013 9:33am
please guys just stick to gold ... forget about the cnn guy
let the chart to be your chauffeur ... -Forexmnstr-
  • #22,128
  • Jan 6, 2013 10:14am Jan 6, 2013 10:14am
Quoting TheArcher
er ... help a blindman to feel the charts .... where do u see the inverse head and shoulders ?
I thought something like this:

http://img19.imageshack.us/img19/122...headandsho.png
  • #22,129
  • Jan 6, 2013 10:55am Jan 6, 2013 10:55am
Quoting forexmnstr
please guys just stick to gold ... forget about the cnn guy

yup, I bought it a low level during the NFP release last Fri and see how far it goes up with trails.
  • #22,130
  • Jan 6, 2013 11:11am Jan 6, 2013 11:11am
will keep bouncing up ... after the big move down
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 41 KB
let the chart to be your chauffeur ... -Forexmnstr-
  • #22,131
  • Jan 6, 2013 11:41am Jan 6, 2013 11:41am
Quoting forexmnstr
will keep bouncing up ... after the big move down
Perhaps it will bounce up to 1680 area from 1626 area since previously it bounced up from 1635 area to 1691 area?
  • #22,132
  • Edited 12:30pm Jan 6, 2013 12:09pm | Edited 12:30pm
Quoting ivars
I thought something like this:
oh ... i see ...the silver spot.... but it does not feel like it .... but, then TA is always subjective ... will keep the idea in mind though ..
  • #22,133
  • Jan 6, 2013 1:51pm Jan 6, 2013 1:51pm
I'm watching the monthly support trend line for both Gold and Silver. I think a breach of this level would be very bearish.

I also sort of see both metals as trading with a bit of a bullish 'cup and handle' pattern on their weekly charts.

Gold charts shown here but Silver is similar.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Goldmonthly.jpg Size: 195 KB
Click to Enlarge Name: Goldweekly.jpg Size: 193 KB
Click to Enlarge Name: GoldDaily.jpg Size: 209 KB
  • #22,134
  • Jan 6, 2013 2:31pm Jan 6, 2013 2:31pm
the current dip in gold prices is just a correction. i believe long term gold is still bullish.....

i see gold going well above 2000 mark by the end of the year. so get ready to buy and buy....!

also, current daily shows a nice pin bar formation off a support level. could be a good oppurtunity to go long. market opening will tell. iam looking to take longs....!
  • #22,135
  • Jan 6, 2013 3:12pm Jan 6, 2013 3:12pm
Seeing similar whatfx.

I noted the daily pin bars as well and discussed these in my review over the w/e.

The link to my review is here.....Gold and Silver discussed at the bottom section of the post...... http://tradespottingthemarkets.blogs...is-070113.html
  • #22,136
  • Jan 6, 2013 3:12pm Jan 6, 2013 3:12pm
Quoting TradeSpotting
I'm watching the monthly support trend line for both Gold and Silver. I think a breach of this level would be very bearish.

I also sort of see both metals as trading with a bit of a bullish 'cup and handle' pattern on their weekly charts.

Gold charts shown here but Silver is similar.
Welcome to the thread - it's worth bearing in mind that the precious metals are manipulated markets and the technicals are often "designed" to give an impression...

The physical market makes pm's different from other markets too and imho this coupled with the fundamentals point to higher prices this year

beeb
  • #22,137
  • Jan 6, 2013 9:27pm Jan 6, 2013 9:27pm
Needs resolution but perhaps, it is already resolved, yes the price may technically be in the same traingle area, yet, if we just keep drawing extended lines while the price moves basically sideways to accommodate the "triangle it will just get larger and larger.

Take a look at the chart below,
I believe this triangle has already broken bullish, and we are just in a re-test of the trendline / breakout "AREA".

Now Gold is basically the same deal, but what I'm looking at here is which one of these Down Trend Lines (DTLs) will be the one to break and flip the line to support backing a move higher in the price.

Some charts for thought.

Simple.

Quoting ivars
Given the upcoming political standoffs that are coming , it looke quite possible that this longer term triangle flag needs to be resolved before moving higher. Timing is May-June 2013. Right in time when budget issues would have to be solved, solving the fate of USG debt future (increase/decrease) and trust in USG treasuries as basis of world financial system ( less trust/more trust). I am sure it will move in direction of increase of debt and further gradual undermining or USG treasuries, but the market is telling that this is not 100% what...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Gold d chann.GIF Size: 31 KB
Click to Enlarge Name: Gold d chann 2.GIF Size: 40 KB
Click to Enlarge Name: silver weekly 1 13.GIF Size: 87 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,138
  • Jan 6, 2013 9:33pm Jan 6, 2013 9:33pm
The silver price is basically at the initial point of break if we use that line. ALSO - look at how well that rising TL has been respected on the weekly, I would rather see a slow and steady rise to 50 rather than the blowout up that we had and then a steep crash. Even with the crash the RISING TL is STILL intact, this to me spells further bullish continuation. Also the symmetrical triangle again, if we use that broken line and consider the current price a test before moving higher, should be considered a continuation of the current longer term, we are using weekly price.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,139
  • Jan 6, 2013 9:34pm Jan 6, 2013 9:34pm

Not even sure if he needs a ban! doesn't seem to have anything to say, ample time given.!!!
Quoting beeb
Xtrade and split-unit - thanks

GC 240 - This old fork shown many times before is still worth watching..

The exact LP touches (green circles) so far apart confirm that it is perfectly aligned with the direction of price.

The three touches at resistance (blue circles) show the line of resistance that needs to be taken out - ideally, for the bullish case, I would like to see that line breached and then become support on a retest.

The purple circles show support may be coming in at a higher level in the fork - if this continues...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,140
  • Jan 6, 2013 9:38pm Jan 6, 2013 9:38pm
Quoting forexmnstr
will keep bouncing up ... after the big move down

what big move down? .... bounce from where ?
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