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

  • #25,721
  • Sep 25, 2013 12:02pm Sep 25, 2013 12:02pm
Quoting andan
I'm pending order short @ 1350 (heavy size)
Best to wait and see how the price reacts when it gets around there. this will now be about the THIRD recent test and break of what s becoming an important,
S/R pivot pnt. You don't want to set an order now and it blows through it.

**Here are some more levels in greenish yellow with Gold and A USDX overlay in Green, Right now the Inverse relationship is quite strong.
Notice how the PA of the USDX is literally right below, almost supporting gold then when it drops, Gold boosts! vice versa.

** So if you look at the horizontal Supp lines in Greenish yellow, you can see that since the last low created Before the FOMC last week
and the next to moving north, here are the levels. APROX-
1292 Dip Low
1306 Dip Low
1316 Dip low

Now with this high the highs are getting higher. If it keeps up we may see some further breaches, testing and higher lows, with potentially for the mid term bear to turn finally back north to test 1550!
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,722
  • Sep 25, 2013 1:16pm Sep 25, 2013 1:16pm
Quoting Newbie300
This may be too simplistic for most of you, but the 50sma is sloping upwards on all ......
It is for me.
  • #25,723
  • Edited 1:53pm Sep 25, 2013 1:36pm | Edited 1:53pm
Quoting SunTrader
{quote} It is for me.

Yeah, I looked at this, not sure what time frames you are looking at, I could imagine that on the lower ones there could be some buying support/protection of this floating support/res- line but didn't try anything lower than H1.. need to check the daily.

Yet on the Higher TFs. Like the H1 it is not quite there yet - still reeling from the 40+ up and down swings from last week..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,724
  • Edited 1:53pm Sep 25, 2013 1:42pm | Edited 1:53pm
SI 240 min - From Ben @ cohglancapital.com

AKA: "beeb"

Thanks Ben!

This is not including today's lil' move but it's not that important yet cause' we are on the 240 min.

Why can't I subscribe to your thread? It says I am I believe but I don't get updates.

Here's BeeB's Thread in Commercial Section for anyone who is looking for him!
http://www.forexfactory.com/showthread.php?t=443273
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,725
  • Sep 25, 2013 1:58pm Sep 25, 2013 1:58pm
Quoting XTrade
SI 240 min - From Ben @ cohglancapital.com AKA: "beeb" Thanks Ben! This is not including today's lil' move but it's not that important yet cause' we are on the 240 min. Why can't I subscribe to your thread? It says I am I believe but I don't get updates. Here's BeeB's Thread in Commercial Section for anyone who is looking for him! http://www.forexfactory.com/showthread.php?t=443273 {image}
Ben has a very interesting take on andrews pitchforks. I like this a lot, going to study this guy's technique now. Thanx for the post
  • #25,726
  • Sep 25, 2013 2:01pm Sep 25, 2013 2:01pm
Quoting XTrade
{quote} Yeah, I looked at this, not sure what time frames you are looking at, I could imagine that on the lower ones there could be some buying support/protection of this floating support/res- line but didn't try anything lower than H1.. need to check the daily. Yet on the Higher TFs. Like the H1 it is not quite there yet - still reeling from the 40+ up and down swings from last week..
No I meant looking at MA slopes. They're averages so they give average take on things - not to mention lag. Nothing more.
  • #25,727
  • Sep 25, 2013 2:01pm Sep 25, 2013 2:01pm
Quoting zumarikato
{quote} Ben has a very interesting take on andrews pitchforks. I like this a lot, going to study this guy's technique now. Thanx for the post

Hey Z,

I just added a link to his thread, it is in the commercial section, but it was an "edit" so I don't know if you read it.

And, yes, His forks are phenomenal!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,728
  • Sep 25, 2013 2:03pm Sep 25, 2013 2:03pm
Agreed, yet, sometimes, especially on the daily and weekly if a nice trend sets in we can usually identify controlled buying and selling or "squaring a bit"
using the 50 DMA/

Quoting SunTrader
{quote} No I meant looking at MA slopes. They're averages so they give average take on things - not to mention lag. Nothing more.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,729
  • Edited 2:25pm Sep 25, 2013 2:11pm | Edited 2:25pm
Well, it's 3pm here in Sunny NY right now, (EDIT: CLARIFICATION* Not for this session.)

Looking at this 3 day line, or without it,
I am looking at the possibility as aforementioned due to the nice break of 1330/1 a test of the level,
if she holds, I'm looking to 1350 next then 1362

If she fails on test, Looking to 1315/07/00

All this really will do is open up the current range parameters, however, our low or bottom range will now be higher.

For a continued move north we need the news to match a bit - not all - a bit, supporting the techs and underlying fundies.

The USDX looks like it is headed for a test of the High 79s. 5 D channel support now broken
and looks like a fresh 6 month low.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,730
  • Sep 25, 2013 2:36pm Sep 25, 2013 2:36pm
Quoting XTrade
SI 240 min - From Ben @ cohglancapital.com AKA: "beeb" Thanks Ben! This is not including today's lil' move but it's not that important yet cause' we are on the 240 min. Why can't I subscribe to your thread? It says I am I believe but I don't get updates. Here's BeeB's Thread in Commercial Section for anyone who is looking for him! http://www.forexfactory.com/showthread.php?t=443273 {image}

UPDATED, SAME SI chart, yet Ben has taken the time to add the move, from today!
ThX! Again Mate!

Here we go. from Ben @ cohglancapital.com ------- AKA: beeb -

XT-

P.S. I keep feeling like today is a FRIDAY? Anyone ELSE????
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,731
  • Sep 25, 2013 4:05pm Sep 25, 2013 4:05pm
I see a downwards channel here on H4 view.

And I'm still short from 1.375.

If 1.350 area resistance show that it will work, I will add some more positions to existing ones..


I've t o improve my targets for sure but for now (if 1.350 are resist work) my target is 1.300 area.

Second is 1.260-70 area but i dont think trend has the power to go directly that much.

Comments ?
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  • #25,732
  • Sep 25, 2013 4:17pm Sep 25, 2013 4:17pm
Quoting XTrade
.... The USDX looks like it is headed for a test of the High 79s. 5 D channel support now broken and looks like a fresh 6 month low.
That is what is forestalling any drop in Gold.

If DX really drops and not just moozy on down like it has lately Gold should get a swift kick in the azz higher.

Otherwise sideways to up with DX, Gold will get kicked but not in a good way.

  • #25,733
  • Sep 25, 2013 4:40pm Sep 25, 2013 4:40pm
Quoting SunTrader
{quote} That is what is forestalling any drop in Gold. If DX really drops and not just moozy on down like it has lately Gold should get a swift kick in the azz higher. Otherwise sideways to up with DX, Gold will get kicked but not in a good way.

Yeah, this is a tight one here friend, not only are traders, investors, hedges, etc, but CENTRAL Banksters, largely diversifying from the USD,
are some technical levels, starting to disintegrate as support right before our eyes.

I am sorry I didn't post it, but I recently read an article about a minor city that trades with China, removing the USD as the "go between" currency to settle trade debt,
thus using the Yuan directly exchangeable with the small cities currency.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,734
  • Edited 5:15pm Sep 25, 2013 4:59pm | Edited 5:15pm
The US will soon need permission from Congress to borrow more money to operate, otherwise the USA will not be able to pay it's bills. The US will exhaust it's borrowing capacity by Oct 17th. Congress is full of tension and bad blood. If there is a political drag on further borrowing and the Obama experiences a political bloodbath before an agreement is reached, how will this affect Gold and Silver.

I would think that this would hurt the dollar and help Gold, but the markets see things in their own way. This news does not seem to be hurting the greenback in a big way so far. Americans will know more about this than I do. Any thoughts?
All's fair in love and trading
  • #25,735
  • Sep 25, 2013 5:58pm Sep 25, 2013 5:58pm
Quoting Markmania
The US will soon need permission from Congress to borrow more money to operate, otherwise the USA will not .......
Any thoughts?
That is why it has been a slow grind lower for the dollar. Uncertainty. Tune in at the end of the month to find out because its almost a certainty nothing will be done before then. And maybe not till after when some government services are shut down.

The ramifications will be minimal if they come to an agreement at some point soon. Even if it just prolongs the inevitable to some future date.
  • #25,736
  • Sep 25, 2013 7:28pm Sep 25, 2013 7:28pm
I am still short according to my previous chart,4 hrs chart shows it just entered the 38.6 fibo retracement,sl will be 1346,target 1267-1272.
  • #25,737
  • Sep 25, 2013 7:32pm Sep 25, 2013 7:32pm
This is how i've been looking at silver this week....
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  • #25,738
  • Sep 25, 2013 7:38pm Sep 25, 2013 7:38pm
Quoting RBlackburn
This is how i've been looking at silver this week....
I'm not so sure of that chart. That is one mighty long wave A and then a puny wave C?
  • #25,739
  • Edited 8:10pm Sep 25, 2013 7:48pm | Edited 8:10pm
Quoting fxjay
I am still short according to my previous chart,4 hrs chart shows it just entered the 38.6 fibo retracement,sl will be 1346,target 1267-1272.
Good luck, - If you want any advice here it is, take it or leave it.

A- We are making higher Highs and Higher lows, Which usually suggests continuation.
B- Price has passed through 1350 recently shooting thru the 1360s+ so, not sure what your entry is, but I would likely move stop above 1350 in the event we do hit it,
and take it out, price may stall around 1355 / 1350 - this may offer short term reversal in price on valiant but failed effort to break, which will either work well for your
short, or give you a chance to exit without too much loss.
C- Several people called for - 1275 and one even 1190 for last week and or the week before and the base lowest area we tested thus, far this month was 1300/1295
so 1275 is wishful thinking as of yet, IMO....
D- USDX rapidly sinking.

However- There is no escaping the fact that we are struggling to move up and there is still bearish looming PA on the chart.

EDIT:
ADD -

AS ICE CUBE (RAPPER) Might SAY- "JUSS CAN'T TRUSS IT"

So- it could go either way,
BUt, Taken all the factors above into consideration I wouldn't be overly comfortable with a newish entry in either direction.
From today I am leaning north, Yet, it took all but a day to erase the entire FOMC gains. Still never made a new low afterwards.... So that could be a "tell"
if you will of how the market may lean.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,740
  • Sep 25, 2013 8:02pm Sep 25, 2013 8:02pm
Quoting XTrade
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- {quote}
Cheers.
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