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

  • #25,701
  • Sep 25, 2013 8:32am Sep 25, 2013 8:32am
I wouldn't put too much stock on patterns on the M5 like symmetrical triangles or even bull flags.
The fun is seeing if they complete,

Usually if they are not going to they will invalidate themselves quite rapidly...
--------------------------------------------------------------------------
Higher TFs h1/H4/Daily usually work well for metals, completion, support and power are all there and more reliable than low TFs also MUCH larger!

Quoting pipcenturion
Gold is not looking like it is tired of the down move yet. It just sliced through a symmetrical triangle on 5 min tf with decent volume. See chart attached. {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,702
  • Sep 25, 2013 8:34am Sep 25, 2013 8:34am
Quoting XTrade
I wouldn't put too much stock on patterns on the M5 like symmetrical triangles or even bull flags. The fun is seeing if they complete, Usually if they are not going to they will invalidate themselves quite rapidly... -------------------------------------------------------------------------- Higher TFs h1/H4/Daily usually work well for metals, completion, support and power are all there and more reliable than low TFs also MUCH larger! {quote}
Bro,
have you ever heard that the markets are FRACTAL in nature?
  • #25,703
  • Sep 25, 2013 8:42am Sep 25, 2013 8:42am
Quoting pipcenturion
Things were getting too volatile so I exited the trade. Enjoy your day. {image}
OK, I am Trying to help here, so don't take this the wrong way.
This is for anyone also who finds it valuable.
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Gold has only moved about 20 top to bottom so far this week. So in essence on the midweek, this time of year this is really slow.

There was and is news at
8:30 AM EST
10:00 AM EST
10:30 AM EST it is 9:40 AM EST time right now.

So any noise you got hit with was likely a few bucks up and down with no decisive conclusion yet due to news.

Did you look to see if and when there was news? Two of the announcements are "RED" in importance and another that is orange is important to commodities.

If you only trade techs fine, but you should still know what news comes out and when.....
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These are just minor things, I am not sure what your trade was, but I can pretty much guarantee you that at some point this hour it will go in your favor whether you were long or short, giving you the ability to close in the green.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,704
  • Sep 25, 2013 8:46am Sep 25, 2013 8:46am
Hello,
Does anyone use Renko System for Gold trading,
if yes then could you let me know what broker you use?
thanks in advance,
  • #25,705
  • Sep 25, 2013 8:48am Sep 25, 2013 8:48am
Quoting pipcenturion
{quote} Bro, have you ever heard that the markets are FRACTAL in nature?
It's "the Fractal Nature of Markets."

No need to be defensive.

Likewise,
Just because there is a symmetrical triangle on the m5 or a bull flag on the m15 does not always mean that there is one on the larger scale chart at the current time.
Usually as I have found after a large pattern takes place on say the daily or weekly, then orphans of the parent often appear on the lower TFs.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,706
  • Sep 25, 2013 9:02am Sep 25, 2013 9:02am
Quoting KiwiOz
...... If you prefer I will stop posting my charts so they don't annoy you.
No post away your charts with his indicator.

Maybe I am misunderstanding how you and others are using the word system.

My definition is something that analyses price determines entry, stop loss, trailing stop, profit objective, position sizing and money management and is for the most part auto-traded.

You might be just talking about only entry and objective here, correct me if I am wrong.
  • #25,707
  • Sep 25, 2013 9:35am Sep 25, 2013 9:35am
Mr. KiwiOz,

You have done nothing wrong, to warrant you having to stop posting charts, as I can see.

So you are welcome to post away. If SunTrader has a problem with the system he is capable of using the ignore button.

Good Luck!
XT-

Quoting KiwiOz
{quote} 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.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,708
  • Sep 25, 2013 9:48am Sep 25, 2013 9:48am
New high,
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 13.png Size: 17 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,709
  • Sep 25, 2013 9:50am Sep 25, 2013 9:50am
Quoting XTrade
New high, {image}
Yeah, but if it couldn't pass the resistance?or I'm going to short gold?
I want to be rich.
  • #25,710
  • Edited 10:19am Sep 25, 2013 10:08am | Edited 10:19am
lets see if it can stay 1330+

Daily r2 is 1342 and 1340 was important support from fall of 1375, if we can stay above 1330 and close day above 1340 it technically confirms move to 1370 area i think
  • #25,711
  • Sep 25, 2013 10:28am Sep 25, 2013 10:28am
This may be too simplistic for most of you, but the 50sma is sloping upwards on all timeframes apart from weekly, so the trend is still up.
I would think going long on pullbacks is the higher probability scenario at the moment, generally speaking - yes?
  • #25,712
  • Sep 25, 2013 10:38am Sep 25, 2013 10:38am
Quoting eurusdthb
{quote} Yeah, but if it couldn't pass the resistance?or I'm going to short gold?
Which specific resistance?

All I was saying is we don't need to always be in the market.

Many times it patience in letting it come to you will provide a better entry with low risk and high reward.
Personally I don't see any great day trades right now and will wait to see how fairs for the NY afternoon session.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,713
  • Sep 25, 2013 10:39am Sep 25, 2013 10:39am
Quoting Newbie300
This may be too simplistic for most of you, but the 50sma is sloping upwards on all timeframes apart from weekly, so the trend is still up. I would think going long on pullbacks is the higher probability scenario at the moment, generally speaking - yes?
Let's take a look, simple is good most of the time!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,714
  • Sep 25, 2013 10:40am Sep 25, 2013 10:40am
Quoting letscry
lets see if it can stay 1330+ Daily r2 is 1342 and 1340 was important support from fall of 1375, if we can stay above 1330 and close day above 1340 it technically confirms move to 1370 area i think
Tend to agree with this scenario which is becoming a bit repetitive at this point!!! It seems like every week as of late we are dealing with the same levels,
similar PA and similar S/R options....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,715
  • Sep 25, 2013 10:46am Sep 25, 2013 10:46am
I'm pending order short @ 1350 (heavy size)
  • #25,716
  • Sep 25, 2013 10:50am Sep 25, 2013 10:50am
Breaking $1,331 was certainly bullish and hourly RSI is well into bullish territory. I don't know which path it will take, but my target for tomorrow is $1,358, 200% of the prior consolidation zone and the intersection of the rising fractal channels (blue and purple) and the descending channel shown in my daily chart (the trend line for which didn't render in this hourly chart).

Attached Image (click to enlarge)
Click to Enlarge Name: Gold - 130925 hourly.jpg Size: 499 KB
You can always make money tomorrow provided you don't lose it today.
  • #25,717
  • Sep 25, 2013 10:55am Sep 25, 2013 10:55am
How to draw Fibo and in what time frame ?
  • #25,718
  • Sep 25, 2013 11:22am Sep 25, 2013 11:22am
Because it doesn't get as much coverage, here's an article from Sunshine Profits on silver and palladium (though I'd prefer platinum).

http://www.minyanville.com/sectors/p.../2013/id/51935
You can always make money tomorrow provided you don't lose it today.
  • #25,719
  • Sep 25, 2013 11:29am Sep 25, 2013 11:29am
THIS IS PRECISELY How I wanted the Price Action to react in this Zone!
Always helpful to plan your work and work your plan! Then throw up a post as a reminder or to gather your thoughts! Set orders first though!

Quoting XTrade
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...
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 15.png Size: 82 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,720
  • Sep 25, 2013 11:41am Sep 25, 2013 11:41am
My mail problem is solved thanks kadc
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