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

  • #27,121
  • Oct 25, 2013 4:48am Oct 25, 2013 4:48am
nice algo action on 5sec TF - else a contracting triangle becoming an expanding triangle by human action (possible)

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cryptocurrency everytime
  • #27,122
  • Oct 25, 2013 5:10am Oct 25, 2013 5:10am
1342.58 seems to be the magnet that is the median between the low of 28 th Jun '13 and the high of Aug 28 '13. Today we remain rangebound possibly until Monday. Maybe because of the Dollar issues and politics of finance in the Capitol, we may see some movement, but today is dangerous to trade.
You win, you lose. All else is history. The future does not exist.
  • #27,123
  • Oct 25, 2013 5:12am Oct 25, 2013 5:12am
Quoting KiwiOz
Gold needs to retrace before it can advance further. Targeting around 1310. {image}
I'm pretty sure it will go up today.A buy stop 1345 would do the job targeting 1366 .For the retrace we need to wait the new week I guess.Would be around 1323.
  • #27,124
  • Oct 25, 2013 6:38am Oct 25, 2013 6:38am
any body knows where is gold going ..............
Good taste is better than bad taste, but bad taste is better than no taste
  • #27,125
  • Oct 25, 2013 6:53am Oct 25, 2013 6:53am
1310 maybe today or first day next week

happy weekend
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  • #27,126
  • Oct 25, 2013 8:09am Oct 25, 2013 8:09am
Target revised to 1317.............
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Money Makes Money
  • #27,127
  • Oct 25, 2013 9:09am Oct 25, 2013 9:09am
Quoting okanemici
{quote} I'm pretty sure it will go up today.A buy stop 1345 would do the job targeting 1366 .For the retrace we need to wait the new week I guess.Would be around 1323.

Looking to exit 1366
  • #27,128
  • Oct 25, 2013 9:33am Oct 25, 2013 9:33am
Quoting hasmukh
any body knows where is gold going ..............
1363.94 at a guess. Nobody can accurately predict the future. Not a single charting package can predict the forces that change markets like Chernobyl, Three Mile Island or 9/11 events which change everything forever. Anyone who says they know is probably a liar IMO. The time here is 14:35 UTC. The market is going up. Period.
You win, you lose. All else is history. The future does not exist.
  • #27,129
  • Oct 25, 2013 9:50am Oct 25, 2013 9:50am
Quoting KiwiOz
Target revised to 1317............. {image}
I am interested to know what these "Targets" are. Could you please explain them to me in as simple a way as possible?

All I can see is what the market tells me it is doing and has done. I am yet to discover a way of predicting the future in the markets. To this end I do not subscribe to the idea that we can tell the fortunes or futures of any market with any degree of amazing accuracy. All day I have been reaiding stories about the market's targets that are way below what it is actually trading at and I cannot fathom why anyone would say, "This is the way..." and believe it. What really confuses me is when XAU:USD has bottomed out at about 1336 and raged up to 1348 and neither of these is anywhere near the 1317 target.

Is discombobulation possible?
You win, you lose. All else is history. The future does not exist.
  • #27,130
  • Oct 25, 2013 11:28am Oct 25, 2013 11:28am
Gold PA in an expanding diagonal which tells us 2 things:

1) this is the last large degree wave up before correction

2) as is the nature of expanding diagonals, the current wave 5 will most likely not reach the upper TL

As I write PA is still trying to break through the weekly R1 around 1347.90. Above that lie various historic TLs and other obstancles but let's see what PA manages tonight (before end-of-week profit taking sets in).

This M5 chart shows there is plenty of headroom before the descending yellow TL drawn off the 2011 top and across the Aug 2013 high. The MACD has no divergence for this wave and the other indicators, by reverse divergence, signal at least one more HH. Target should be in the 1370s but this being a diagonal of the expanding variety as well as a Friday night, I think I will look to TP around 1354 and see what PA intends for next week. Higher still is plausible but the corrective forces are gathering.

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cryptocurrency everytime
  • #27,131
  • Oct 25, 2013 11:28am Oct 25, 2013 11:28am
Quoting The Rhodie
{quote} I am interested to know what these \"Targets\" are. Could you please explain them to me in as simple a way as possible? All I can see is what the market tells me it is doing and has done. I am yet to discover a way of predicting the future in the markets. To this end I do not subscribe to the idea that we can tell the fortunes or futures of any market with any degree of amazing accuracy. All day I have been reaiding stories about the market's targets that are way below what it is actually trading at and I cannot fathom why anyone would say,...
I was reading this... and ...
Each one of us have own system and time frame and tools to calculate probabilities. And I guess this is the place to express it.
I really enjoy reading input from all of you traders ! Can see that many of you taking time to save and upload charts and share knowledge about your systems, share indicators.

Have a good Weekend !
  • #27,132
  • Oct 25, 2013 11:49am Oct 25, 2013 11:49am
Quoting okanemici
{quote} I'm pretty sure it will go up today.A buy stop 1345 would do the job targeting 1366 .For the retrace we need to wait the new week I guess.Would be around 1323.
Told ya ! Anybody catch it ?
  • #27,133
  • Oct 25, 2013 12:09pm Oct 25, 2013 12:09pm
Quoting okanemici
{quote} Told ya ! Anybody catch it ?
how ? how did u know it ??

give reasons, please...
  • #27,134
  • Oct 25, 2013 12:15pm Oct 25, 2013 12:15pm
Quoting The Rhodie
{quote} I am interested to know what these \"Targets\" are. Could you please explain them to me in as simple a way as possible? All I can see is what the market tells me it is doing and has done. I am yet to discover a way of predicting the future in the markets. To this end I do not subscribe to the idea that we can tell the fortunes or futures of any market with any degree of amazing accuracy. All day I have been reaiding stories about the market's targets that are way below what it is actually trading at and I cannot fathom why anyone would say,...
That top TL on my chart is a target - but as i explain it is a characteristic of expanding diagonals that the last wave (5) more often than not fails to make target. Most people use "target" in the sense that it is what is being aimed for - But hit or no hit is just like conventional target-practice: sometimes PA misses it, other times Bullseye!
cryptocurrency everytime
  • #27,135
  • Oct 25, 2013 12:16pm Oct 25, 2013 12:16pm
only two working counts i see and neither of them pretty
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Don't have an ego. Always question yourself and your ability.
  • #27,136
  • Oct 25, 2013 12:31pm Oct 25, 2013 12:31pm
Quoting TheArcher
{quote} how ? how did u know it ?? give reasons, please...
I have 1000 reasons. Which one do you want ?
It broke the falling trendline then made a new rising trendline in 4h chart. D1 tdi is up since 16.10.2013, today 4h tdi went up too, plus gold made a pullback to s&r and was rejected.Then I took a long over my moving averages.You need to study 4h charts and s&r.Less then 4h and 1h will lead you bankrupt !
Look at 4h charts for some hours and choose your moving averages that suit your eyes.Then backtest it on different pairs.I'm sure you will find the right combination.When your ma cross up wait for pullbacks and long them.When your ma cross down wait for a pullback and short them.
Dead simple than trading on 15 min!
  • #27,137
  • Edited 1:45pm Oct 25, 2013 12:34pm | Edited 1:45pm
Quoting RamsesII
only two working counts i see and neither of them pretty {image}
i am confused how u have numbered the waves : funny 3 , funny 4 , funny b and c ... unless they are not the classical EW.
  • #27,138
  • Oct 25, 2013 12:37pm Oct 25, 2013 12:37pm
Quoting TheArcher
{quote} i am confused how u have numbered the waves : funny 3 , funny 4 , funny b and c ... unless they are not the classical EW.
What's funny about 3 and 4 ? b and c are questionable but indicate a possible very bullish thrust in wave 3. show me another count
Don't have an ego. Always question yourself and your ability.
  • #27,139
  • Oct 25, 2013 12:42pm Oct 25, 2013 12:42pm
Quoting RamsesII
{quote} What's funny about 3 and 4 ? b and c are questionable but indicate a possible very bullish thrust in wave 3. show me another count
not trying to be smart , but curious to know if u had another way of counting the waves . wondering if the counts were from other timeframe (4H, 8H) expanded. that's all.
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  • #27,140
  • Oct 25, 2013 12:44pm Oct 25, 2013 12:44pm
Quoting TheArcher
{quote} not trying to be smart , but curious to know if u had another way of counting the waves . that's all. {image}
another way? dude what are you talking about. also you didn't answer... what did you find funny about wave 3 and 4? i'm confused.
Don't have an ego. Always question yourself and your ability.
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