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

  • #25,661
  • Sep 24, 2013 5:44pm Sep 24, 2013 5:44pm
What do you guys think about CNBC saying some "chicago" traders got the "no taper" news early?

You could tell by the early price action on gold, somebody was tipped off.
Too close for pips, switching to points.
  • #25,662
  • Sep 24, 2013 5:56pm Sep 24, 2013 5:56pm
Winner, winner, chicken dinner.

  • #25,663
  • Sep 24, 2013 6:58pm Sep 24, 2013 6:58pm
Quoting SunTrader
{quote} He has indicators, no system so who ever told you it was his system doesn't understand Tom DeMark.
Here y'o mate. READ & understand. Understand this also. It works for me. As for DeMarks indicators.Crap.
Attached File(s)
File Type: pdf Tom Demark Price Pojection 01 (1).pdf   1.1 MB | 629 downloads
File Type: pdf Tom Demark Price Pojection 02.pdf   445 KB | 524 downloads
File Type: pdf Tom Demark Price Pojection 03 (1).pdf   581 KB | 572 downloads
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  • #25,664
  • Sep 24, 2013 7:08pm Sep 24, 2013 7:08pm
Quoting XTrade
very Bearish at the moment but remember it is the line at 1270 that invalidates the Bulls quest for 1580. Hello Sir and welcome, I am having difficultly understanding what it is you are stating here. Please elaborate or explain. Personally I don't see how, (and I don't know if this is what you are trying to say) breaking 1275/0 which is decent support, invalidates a progression to 1550 which is basically a 50 % retrace area of multiple swing his and low at 1180. + your area of 1100 as bottom. THX! Welcome arty {quote}
1270 is the top of wave 1 of the move up from 1178. Check the last chart I posted. According to EW wave 4 cannot go below wave 1.
Best I can do to explain. I am not an Ew expert or even an enthusiast. It just pays to know the basics to tie in with other methods of analysis.
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  • #25,665
  • Sep 24, 2013 7:41pm Sep 24, 2013 7:41pm
Quoting Thepipster
What do you guys think about CNBC saying some "chicago" traders got the "no taper" news early? You could tell by the early price action on gold, somebody was tipped off.

SOMEONE! ALWAYS KNOWS EARLY!

Especially those that have a huge bank roll to trade with if not a "real 'bank' roll!" and these are the people that can EASILY push the market around to favor -
("favour" I like the Euro spelling better) their early info, trades and AGENDA!

YIKES!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,666
  • Sep 24, 2013 7:46pm Sep 24, 2013 7:46pm
Are Po'jections for the Poor,
while Pro'jections would be for da rich!

Just joking! Had to play with that SP! On the attachments!

Will take a look now,
THX!
XT-

Quoting KiwiOz
{quote} Here y'o mate. READ & understand. Understand this also. It works for me. As for DeMarks indicators.Crap. {image} {image} {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,667
  • Edited 9:49pm Sep 24, 2013 8:01pm | Edited 9:49pm
Well, that perfectly explains it to me then, you had me at "Wave 1 of!" I don't use EW, follow it, or try to speculate using it and I am far from being any sort of enthusiast about it!

In any case, I remember I used to go to a friend's apartment some weekdays and have day trading sessions together,
we would bounce ideas off eachother, but the real fun was when there was a disagreement and inverse live positions were put on, obviously the person -
with the winning trade had the last laugh!

The point was, for one reason or another, he said to me one day, "there's a trading strategy, style, TA tool, I am learning and I think you should too,
it has to do with certain price movements in relationship to each other, with various different abc, 123 level / counts (waves)."

Reply "Yeah, thanks- I know it - Elliot Wave, but no thanks" a few months later, I ask how his EW training was going, and he says he has "abandoned it altogether"
So I ask "why because of the infinite, mainly subjective, possibilities there are???"

Answer, "Precisely."

I know there are a lot that like it and more power to you if it works for you than WORK IT! Feel free to post your counts, charts and ideas!

Sort of like trading with Major Support and Resistance or the DMA / even Fibos pulled always from last swing HI to Low If retracing a down move,
using these techniques in an effort to trade where the money will go on a daily basis, or using the daily, there is a lot of clear and decisive reaction when the price reaches one area that many, many, many others are. I just don't see it working the same way for EW.
Too subjective.
IMO of course!!!
Quoting KiwiOz
{quote} 1270 is the top of wave 1 of the move up from 1178. Check the last chart I posted. According to EW wave 4 cannot go below wave 1. Best I can do to explain. I am not an Ew expert or even an enthusiast. It just pays to know the basics to tie in with other methods of analysis.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,668
  • Sep 24, 2013 8:18pm Sep 24, 2013 8:18pm
Golden History. Priceless.
Attached Image (click to enlarge)
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  • #25,669
  • Sep 24, 2013 8:34pm Sep 24, 2013 8:34pm
Like I said, EW is just the back up for my main tool. (DeMark) As you can see from this chart I have manipulated the line attachment points. This comes from experience. (Long time using the system) Lets see if the next target at 1316 works out.? Note the daily Pivot is at 1319.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdm15.png Size: 37 KB
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  • #25,670
  • Sep 24, 2013 9:05pm Sep 24, 2013 9:05pm
Quoting KiwiOz
{quote} Here y'o mate. READ & understand. Understand this also. It works for me. As for DeMarks indicators.Crap
Sorry no offense but I'd rather not download something when I don't know the source.

But if this is his price projections they are NOT a system.

Keep in mind there are so many screwed up code versions that are so far removed from his actual ideas it is truly ridiculous, not saying this is though.

As for his indicators - the butchered bootleg versions floating around the net might be crap.

While I have been using the real deal for over a decade and can tell I know they are not.


If you have any further negative opinions I appreciate you keeping them.
  • #25,671
  • Sep 24, 2013 9:31pm Sep 24, 2013 9:31pm
Quoting XTrade
{quote} SOMEONE! ALWAYS KNOWS EARLY! Especially those that have a huge bank roll to trade with if not a "real 'bank' roll!" and these are the people that can EASILY push the market around to favor - ("favour" I like the Euro spelling better) their early info, trades and AGENDA! YIKES!

100% agree.
  • #25,672
  • Sep 24, 2013 10:14pm Sep 24, 2013 10:14pm
nice lil' end of day POP back up after a slow day sliding to test support at 1310.xxzz......

Yet, rite back into noise area, and going sideways again...

We need to get back above 1331 preferably by means of a nice 6-10 USD spike, then retest,
and next move to test 1350 again.

Downside it seems clear that once 1315/10 area begins to be compromised, there is immediate pressure on a break and sustain of 1300,

the break has happened with ease as 1300 is really just psych support, yet no sustain, so it could suggest lower price points are being rejected and protected,
as well as not enough selling pressure.

Likewise after failure to pare the post FOMC bullish gains, we are still subject to further bearish / sideways movement.

It also seems clear and perhaps this will change after Christmas & the Winter Holiday Season we are lacking some large cap specs.

<=----------------------------------------------------------------------------------------------------------------------------------------------------------=>
Silver looks very noisy lately, and about the same PA, yet more topside long term potential for larger gains than Gold IMO.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,673
  • Sep 25, 2013 12:49am Sep 25, 2013 12:49am
the rise from 1180 to 1433 has made its retracement to fib 50,0 . after fomc report we couldnt pass 1375 which is 23.6 retracement on Daily fibo and after that 1340 area hold before going more down which is 38,2 fibo.
i am not sure but if we move only by technics we must go up from now on coz we have touched all fib levels.
wish it was this much easy to trade by only looking into charts
Attached Image (click to enlarge)
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  • #25,674
  • Sep 25, 2013 12:55am Sep 25, 2013 12:55am
For those who use indicators and MT4. Here you go . . . .

http://www.forexstrategiesresources.com/

If you find something that works for you and you become efficient with it, have an abundance mentality and post your analysis.

To each his own. . . .
  • #25,675
  • Sep 25, 2013 12:55am Sep 25, 2013 12:55am
Quoting letscry
the rise from 1180 to 1433 has made its retracement to fib 50,0 . after fomc report we couldnt pass 1375 which is 23.6 retracement on Daily fibo and after that 1340 area hold before going more down which is 38,2 fibo. i am not sure but if we move only by technics we must go up from now on coz we have touched all fib levels. wish it was this much easy to trade by only looking into charts {image}

agree with you..
Gold is my pleasure.
  • #25,676
  • Sep 25, 2013 1:34am Sep 25, 2013 1:34am
Quoting KiwiOz
Like I said, EW is just the back up for my main tool. (DeMark) As you can see from this chart I have manipulated the line attachment points. This comes from experience. (Long time using the system) Lets see if the next target at 1316 works out.? Note the daily Pivot is at 1319. {image}
Forget that target. Gold is ignoring the pivot today & heading to the 4h chart target at 1353 instead. Gotta take 'em as they come.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 36 KB
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  • #25,677
  • Sep 25, 2013 2:41am Sep 25, 2013 2:41am
Quoting SunTrader
{quote} Sorry no offense but I'd rather not download something when I don't know the source. But if this is his price projections they are NOT a system. Keep in mind there are so many screwed up code versions that are so far removed from his actual ideas it is truly ridiculous, not saying this is though. As for his indicators - the butchered bootleg versions floating around the net might be crap. While I have been using the real deal for over a decade and can tell I know they are not. If you have any further negative opinions I appreciate you keeping...
You are obviously confused & if you are not prepared to download the DeMark system you will never know & I don't give a shit. I did not ask you to agree with me nor do I ask for your crap.
I have tried his indicators & to me they are crap, That doesn't mean to say they are crap to everyone. I use hie SYSTEM with excellent results, That doesn't mean they are for everyone. If you prefer I will stop posting my charts so they don't annoy you.
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  • #25,678
  • Sep 25, 2013 2:43am Sep 25, 2013 2:43am
Quoting KiwiOz
{quote} Forget that target. Gold is ignoring the pivot today & heading to the 4h chart target at 1353 instead. Gotta take 'em as they come. {image}
?????? break out or fake out . Will know soon.
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  • #25,679
  • Sep 25, 2013 2:44am Sep 25, 2013 2:44am
1330 must be really taken..
  • #25,680
  • Sep 25, 2013 2:47am Sep 25, 2013 2:47am
Quoting Scalptastic
{quote} Gold is currently testing my support zone. If I go long I will set very tight stop {image}

Went long yesterday from 1317 got stopped out on 1316. Should have seen this SL hunt coming.

Later took another shot from 1307 and got out on 1318
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