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

  • #23,981
  • Jul 23, 2013 9:30am Jul 23, 2013 9:30am
Gold still in a downtrend. Watch for $GLD to close under 129. Should that happen, gap down tomorrow and further selloff is likely.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #23,982
  • Jul 23, 2013 9:53am Jul 23, 2013 9:53am
Hi guys
As long as Gold is under 1351, level I'm still bearish on Gold,
Here is my point of view:
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  • #23,983
  • Jul 23, 2013 10:01am Jul 23, 2013 10:01am
Quoting Dr.Trade
Hi guys As long as Gold is under 1351, level I'm still bearish on Gold, Here is my point of view: {image}

Hi Dr. Trade,


that is exactly what I am looking at. Most people only see 5 waves up and do think: "Impulse"

But looking at the subwaves, our count here has a high probability in my view.


Question is: is this all of the correction, or wave W of a bigger WXY?
  • #23,984
  • Jul 23, 2013 10:22am Jul 23, 2013 10:22am
Quoting infinitus
{quote} Hi Dr. Trade, that is exactly what I am looking at. Most people only see 5 waves up and do think: "Impulse" But looking at the subwaves, our count here has a high probability in my view. Question is: is this all of the correction, or wave W of a bigger WXY?
Hi infinitus

Thanks for your feedback,

Well, in my humble opinion,Wave C could end either at 1337 (trendline resistance) or could make a new high around 1349 which is 161.8% projection of wave A,
But whatever happened so far could not change the bearish view in the bigger picture.
  • #23,985
  • Jul 23, 2013 11:02am Jul 23, 2013 11:02am
Quoting Dr.Trade
{quote} Hi infinitus Thanks for your feedback, Well, in my humble opinion,Wave C could end either at 1337 (trendline resistance) or could make a new high around 1349 which is 161.8% projection of wave A, But whatever happened so far could not change the bearish view in the bigger picture.

This was my view a few days ago

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Since pink 4 moved now into pink 1 this is invalidated. Maybe pink 2 is plum 4, and pink 3 is plum 5, thus also green 3.

So the bearish case is far from being dead :-)

Either we end here, or the resistance shelf between 1343 to 1375 gets tested (the higher the better for good R:R :-)


Trade well and many green pips
  • #23,986
  • Jul 23, 2013 1:03pm Jul 23, 2013 1:03pm
Quoting Pair-me-up
{quote} Thanks for your great response! Thanks for pointing the part about Indian weddings. I think I read something about them buying gold for cultural reasons, but I didn't know so much of the details. I would love to get 20 moves on gold 5 days a week. My wife could add to her shoe collection.. lol
LOL -- yes the point of it is that Indian women are adorned with lots of gold before wedding, it is THIERS' to KEEP in the event of a divorce,

Since u are new I will give away some secrets BUT, Y O U NEED TO DO A LOT OF READING AND WATCHING THE CHART TO BE A GOLD TRADER OR INVESTOR>>.

Great job!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,987
  • Jul 23, 2013 1:06pm Jul 23, 2013 1:06pm
Quoting infinitus
{quote} This was my view a few days ago {image} Since pink 4 moved now into pink 1 this is invalidated. Maybe pink 2 is plum 4, and pink 3 is plum 5, thus also green 3. So the bearish case is far from being dead :-) Either we end here, or the resistance shelf between 1343 to 1375 gets tested (the higher the better for good R:R :-) Trade well and many green pips

I see your point here yet, we are still in a corrective mode, thus, i don't want to place any bets large yet.
We could test the 1075 range yet there is SUPER STRONG RESISTANCE @ 1050.

If it was going to happen it woulda happened on the shake down.....

I remain bullish Gold as a trader and investor.

I am Bullish on A CU comeback as well and PT is killing GOLD again.......

SO we will see

Trade SAFE!!!!
GREAT POST
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,988
  • Jul 23, 2013 1:10pm Jul 23, 2013 1:10pm
Quoting XTrade
{quote} LOL -- yes the point of it is that Indian women are adorned with lots of gold before wedding, it is THIERS' to KEEP in the event of a divorce, Since u are new I will give away some secrets BUT, Y O U NEED TO DO A LOT OF READING AND WATCHING THE CHART TO BE A GOLD TRADER OR INVESTOR>>. Great job!

Also I do NOT trade EW. ANYONE who does is welcome to post.

However, ponder this? Explain a massive exodus losing almost 600$ per troy oz. with elliot wave to me! WITHOUT FUNDAMENTALS!!!

1750 + to 1100 +
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,989
  • Jul 23, 2013 1:25pm Jul 23, 2013 1:25pm
All of this recent USA strong is all B FKING SHIT in MY VEREY HONEST OPINION.

WE are owned by China, we have MASSIVE debt, NO ONE can get a job, healthcare is EXTREMELY FVKD! Need I --- OH and
all the money on wars!, there is more HEROIN in the USA NOW then ever before because of the war in Afghanistan,

This run will end and gold will rise above 2000 p toz.

Be patient trade smart, BUY LOW SELL HIGH!!!! EASY!

READ READ READ.......

XT
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,990
  • Jul 23, 2013 1:32pm Jul 23, 2013 1:32pm
Quoting XTrade
{quote} Also I do NOT trade EW. ANYONE who does is welcome to post. However, ponder this? Explain a massive exodus losing almost 600$ per troy oz. with elliot wave to me! WITHOUT FUNDAMENTALS!!! 1750 + to 1100 +
Hi XTrade,

let me try :-)


We Elliotticans think, that price and pattern simply follow social mood. In Elliott Wave, Psychology, Socioeconomics we do believe, that social mood does not need an external trigger to change direction. So the simplest answer is:

"we do only follow pattern" and do not care much about fundamentals


Let me go one step further. But for this we do need agreement (at least a hypothetical one), that Elliott waves exist. OK, let us assume, they do really exist.

When this pattern really exist we have to accept, that fundamentals can not be the trigger for the changes in direction of the waves. Because all the fundamental data worldwide, hour by hour, day by day, week by week, would have to be orchestrated to build the Elliott Waves. But that would be far too deterministic. Solution is: it can only be the other way around.



Last but not least let us take a look at social mood:


when Gold hit 1900, we had super bullishness in the markets. The number of Gold bulls were around 95% or so. You know the old adage: "When a bet becomes too one-sided....."


When Gold reached again the 1800 level last year in September, the bullishness was back at those levels again, and it was time to go short.


At 1167, the picture suddenly was vice versa, and only around 3-5% Gold bulls were left. That was a good place to go long.



I do hope, that I get the sentiment data soon, to judge, if sentiment has now again got enough Gold bulls. We will see.....


Now the question for you is: "What was, in your opinion the reason for that drop"?




Quick additional note:

my EW best target would be between 650 and 850, but there is an scenario too, where Gold could go as low as 200, but with best chance between 650 and 400. I do not see that in the moment, so I focus medium term @ around 950-1050, and later then 850-650


Structure of the waves will tell us more over time (I hope LOL)


Green pips, long or short,


Markus
  • #23,991
  • Jul 23, 2013 1:34pm Jul 23, 2013 1:34pm
Quoting infinitus
{quote} Hi XTrade, let me try :-) We Elliotticans think, that price and pattern simply follow social mood. In Elliott Wave, Psychology, Socioeconomics we do believe, that social mood does not need an external trigger to change direction. So the simplest answer is: "we do only follow pattern" and do not care much about fundamentals Let me go one step further. But for this we do need agreement (at least a hypothetical one), that Elliott waves exist. OK, let us assume, they do really exist. When this pattern really exist we have to accept, that fundamentals...



But in the really long run, Gold may outpace all other assets - if Governments allow (remember: there was a time, when Gold was illegal in US of A)
  • #23,992
  • Jul 23, 2013 1:49pm Jul 23, 2013 1:49pm
Quoting infinitus
{quote} Hi XTrade, let me try :-) We Elliotticans think, that price and pattern simply follow social mood. In Elliott Wave, Psychology, Socioeconomics we do believe, that social mood does not need an external trigger to change direction. So the simplest answer is: "we do only follow pattern" and do not care much about fundamentals Let me go one step further. But for this we do need agreement (at least a hypothetical one), that Elliott waves exist. OK, let us assume, they do really exist. When this pattern really exist we have to accept, that fundamentals...
AMAZING POST!!!! For this sir I have just vouched for you not like u need any more.
I am happy you are here and I hope to see you posting your views EW or not.

I trade simply on TECHS or FUNDIES ;/ FUNDIES OR TECHS - sometimes they flop.
I use simple nearly naked charts, I follow trends and react to NEWS.
SUPPORT and RESISTANCE are my KEY factors if I am SHORT TERM TRADING, LONG TERM I dont really care, once my decision is made, I don't even look at charts or price for months.
That's how I make 1000 + pips.

I do scalp . I do invest in hard bullion on dips! Like this! I saved a lot of money!
Yet i am a day trader and more of a long term trader at the same rate.

Bullish GBP /USD soon... Just wait for the flip flop.

I have to run out BUT PROMISE MY REASONING ON THE WAY BACK ABOUT THE DIP!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,993
  • Jul 23, 2013 2:27pm Jul 23, 2013 2:27pm
what a serius market...people short, price go up... coming more shorter, price higher... this is not market...this is thief...
  • #23,994
  • Jul 23, 2013 3:43pm Jul 23, 2013 3:43pm
Quoting prototip
what a serius market...people short, price go up... Coming more shorter, price higher... This is not market...this is thief...
please elaborate on your theory.
thx,
xt.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,995
  • Jul 23, 2013 4:50pm Jul 23, 2013 4:50pm
everything for one position...each instrument has only one position... there is no market... this is why difficult...market can not be so difficult...no market yes possition trading...
  • #23,996
  • Jul 23, 2013 7:28pm Jul 23, 2013 7:28pm
Quoting prototip
everything for one position...each instrument has only one position... there is no market... this is why difficult...market can not be so difficult...no market yes possition trading...

Wrong,

MARKETS ARE EASY, WHEN YOU FIND YOUR DESIRED SET OF TOOLS.

Wether it be simple S/R or Naked, or fundamental, or scalping or massive tech analysis blended with fundies or EW, or long term position trading,
or simply following the trend which is your FRIEND! or whatever suits YOUR lifestyle, and available markets to trade, this is a
24/7 day job, yes the market is closed on the weekend, as well many day traders have to close ALL AND EVERY POSITION by the end of the day!
Position traders, have larger stops and DOUBLE larger Profit targets.

The reason why you think the market is hard is because you are not doing your OWN due DILiGENCE!

LIKE i said before., READ READ READ,
when there is a slight pause for the brief weekend we are granted, there are ALWAYS trades in place, or RIDING, much of the day/ week trader's play the final close for the NYC market on Friday, this part of how gaps are created, once the trade is placed that's IT BUD, however if it is placed out of pit and electronically, much of this will be deciphered over the weekend by large banks vis a vis, Large Cap traders, HEDGE FUNDS! etc.

BTW I still don't understand what you are saying.

Hope this makes sense to u.
G/L

XT
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,997
  • Edited 7:44pm Jul 23, 2013 7:35pm | Edited 7:44pm
Quoting prototip
{quote} İf you dont need help, dont talk about my posts, whıch are useless for you...

Sorry, it does not work that way here my man or woman,

READ THE RULES.

Get some skill then try and call me out ok bub.....

This is a serious thread for people that are above 5 year trading GOLD /SILVER experience posting THIER knowledge FOR FREEEEEEE
and for NEW Bs to learn. (PERIOD)

I am not a moderator, BUT I WILL MODERATE MY OWN THREAD.

Don't like the rules take a f-ing hike.

Otherwise be respectful and grateful that there are still experienced traders posting here that you MIGHT be able to learn from if you can LISTEN.

READ POST ONE
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,998
  • Jul 23, 2013 7:42pm Jul 23, 2013 7:42pm
Quoting Pair-me-up
{quote} I just started paying attention to the XAU/USD pair a could of weeks ago. I look forward to learn from your post along with more experienced gold traders. I hope to see some posts about the fundamentals as well. I have recently learned that India buys tons of gold. I mean metric tons as well. lol I never knew that before. No wonder they have a movie called "Slum dog Millionaire."

Fundamentals are harder to learn due to the time it takes to research - who - what - where - why - and HOW.

Yet, if you take the time to buy a book on GOLD or SILVER, which usually move in unison you will begin to understand.
Also, watch finance 24/7 news channels, intenet search anything you are unsure about, use RELIABLE sources, like Kitco and Netdania BUT FIRST learn
from the traders HERE @ www.forexfactory.com !!!!!!!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,999
  • Edited 8:03pm Jul 23, 2013 7:48pm | Edited 8:03pm
Quoting Pair-me-up
{quote} When you say CRUSH, do you mean it will crush up past 1370 or that 1370 will be strong resistance. On my chart, I see that gold has the potential to hit 1400 if it gets past 1350 with some power. But again, I am new to Xau/Usd... so I am probably totally wrong.

Looks like your wildest dreams are coming true...

take a look at the NY close chart....

A bit more steam and 1370 is cooked. anyone who didn't get long on that dip is just well....

Just to round to 5s looks like looks like 1335 (low) & 1345 appx (high) will be a potential support for the interim.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,000
  • Edited 7:59pm Jul 23, 2013 7:58pm | Edited 7:59pm
Here are some Fork charts from a GREAT friend and an amazing trader I know for all to ponder.

GC60
and GC Daily

GC is trading gold on the commodities market. NOT VIA FX BROKER......

CREDIT GOES TO ben from coghlancapital.com

Thanks for sending!!! B!

Simply LOVE the simplicity here mate! fabulous, looks like we are due for an upswing to me!


G/L

XT-
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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