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

  • #27,561
  • Nov 3, 2013 1:21pm Nov 3, 2013 1:21pm
I think the scenario will be like this:

1rst gold must retrace for resistance till 1327-1337
Then go down from this area 1327-1337 to 1271
then it will go up again from 1269-1272 to 1400

This is the best scenario I see till Christmas
  • #27,562
  • Nov 3, 2013 1:45pm Nov 3, 2013 1:45pm
hi bugs
im agree with your scenario i m going to trade retracement and i put a sell limite to 1337 and wait......
  • #27,563
  • Nov 3, 2013 2:05pm Nov 3, 2013 2:05pm
Quoting gerry73
we want to bring to the debasement but we must resist.
What post or currency are you referring to here?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,564
  • Nov 3, 2013 2:12pm Nov 3, 2013 2:12pm
OK - so it seems you are working solely on technicals, what type of system or what "technique with Techs" led you to this conclusion?

Quoting bugsbunny110
I think the scenario will be like this: 1rst gold must retrace for resistance till 1327-1337 Then go down from this area 1327-1337 to 1271 then it will go up again from 1269-1272 to 1400 This is the best scenario I see till Christmas
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,565
  • Edited 2:30pm Nov 3, 2013 2:14pm | Edited 2:30pm
After the reaction before the close and breach of 1305 was rejected, I am at least expecting re-test of 1333.

Although, it could possibly take until after Tuesday.

Quoting kelik
{quote} H4 bullish three inside up {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,566
  • Nov 3, 2013 2:43pm Nov 3, 2013 2:43pm
Quoting XTrade
OK - so it seems you are working solely on technicals, what type of system or what \"technique with Techs\" led you to this conclusion? {quote}
I used everything I know but mainly I depend on my Mathematical trading (BB Chart) with the fundamental
I just don't use waves as it is not working with me as well, I am not pro in this part as you mates
  • #27,567
  • Nov 3, 2013 2:48pm Nov 3, 2013 2:48pm
The weekly chart designates a down movement. Breaking the 23% fib will open the way to 1250.


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  • #27,568
  • Nov 3, 2013 5:31pm Nov 3, 2013 5:31pm
Early days but looking at the 4hr:

Hammer into Friday's close.
RSI bottoming
Higher Lows
Current candle above downtrend line from 1360
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Trade with what you see, not what you feel.
  • #27,569
  • Nov 3, 2013 8:27pm Nov 3, 2013 8:27pm
Well, that's why we trade, yet I always look at the daily when using the weekly to help decipher the price action.
I think this post says a well put, quick, to the point daily candle analysis. The chart is just above.

Quoting Basement
Early days but looking at the 4hr: Hammer into Friday's close. RSI bottoming Higher Lows Current candle above downtrend line from 1360 {image}




Quoting Gold-lover
The weekly chart designates a down movement. Breaking the 23% fib will open the way to 1250. {image} {image}
Also, if you want - in your technicals to take the liberty as I often do, to draw a line based on more repetitive movement and not the HIGH that started it either wick or candle to the current High - then you should also be chopping off miscellaneous PA at the tops of the other candles and wicks IMO. To make a
more clear decisive TL.

Otherwise, you will either end up in the middle, which works with a top and bottom,

OR - floating from no origin, to a wick, to a candle ---> to no price - to a wick to a candle top, as your TL does.

I could redraw the same TL with chopping, and have the current candle above your DTL. Would you still think the
trend is continuing?

It doesn't matter wrong or right, these are just simple rules to apply when drawing TLs.

And as much as we would like to avoid them at certain times to suit our own interest, ALL the TLs from the High or low, wick or candle to the next high or low
ARE VALID. Otherwise they are just floaters.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,570
  • Nov 3, 2013 10:40pm Nov 3, 2013 10:40pm
H & S ?
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  • #27,571
  • Nov 4, 2013 3:53am Nov 4, 2013 3:53am
Ranging so far in the Asia and Australia sessions, what d you guys think will happen later in the UK session and NY session? Will we see the long to 1333 or so, or will it go down to 1305??
  • #27,572
  • Nov 4, 2013 5:15am Nov 4, 2013 5:15am
Since gold was unable to break above fib zone I switched my view bearish.
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  • #27,573
  • Nov 4, 2013 5:49am Nov 4, 2013 5:49am
Pivot point breaking @ 1316.18 will it be act for suppot line?
  • #27,574
  • Nov 4, 2013 6:23am Nov 4, 2013 6:23am
Quoting XTrade
Well, that's why we trade, yet I always look at the daily when using the weekly to help decipher the price action. I think this post says a well put, quick, to the point daily candle analysis. The chart is just above. {quote} {quote} Also, if you want - in your technicals to take the liberty as I often do, to draw a line based on more repetitive movement and not the HIGH that started it either wick or candle to the current High - then you should also be chopping off miscellaneous PA at the tops of the other candles and wicks IMO. To make a more...
Thanks for the above XTrade,

I'm still learning, what you said is appreciated.
Trade with what you see, not what you feel.
  • #27,575
  • Nov 4, 2013 7:13am Nov 4, 2013 7:13am
Anybody looking to enter gold should try 1318 buy limit.
  • #27,576
  • Nov 4, 2013 7:15am Nov 4, 2013 7:15am
Quoting bugsbunny110
I think the scenario will be like this: 1rst gold must retrace for resistance till 1327-1337 Then go down from this area 1327-1337 to 1271 then it will go up again from 1269-1272 to 1400 This is the best scenario I see till Christmas
I think second leg will be limited to around 1320, the rest I agree.
  • #27,577
  • Nov 4, 2013 8:55am Nov 4, 2013 8:55am
At the moment I am currently looking for short positions, but a break of the downward trendline which gold is currently resting at I will be switching to looking for longs. On a break of the lower trendline, I will go short.

Here are my charts and analysis.

M15

H4

D1
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insideBars==boss
  • #27,578
  • Nov 4, 2013 10:12am Nov 4, 2013 10:12am
I have a double slope hit and looks like fib 38.2 and 2013/04/16 low is showing resistance, I am shorting and looking for partial take profits at every new low of September

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  • #27,579
  • Nov 4, 2013 10:37am Nov 4, 2013 10:37am
What I also think, I am shorting with a final TP around 1294, taking first profit at Fridays low, price rejected the 38.2 fib, the problem could be the 1315 area from which price broke out of, I am pretty confident that price will go back down through it, maybe after a bit of sideways movement.

On the other hand, if PA breaks above todays high, then we could be in for a move higher, waiting on a good signal to take a position.

Quoting zumarikato
I have a double slope hit and looks like fib 38.2 and 2013/04/16 low is showing resistance, I am shorting and looking for partial take profits at every new low of September {image}
insideBars==boss
  • #27,580
  • Nov 4, 2013 11:40am Nov 4, 2013 11:40am
Quoting adamjn
What I also think, I am shorting with a final TP around 1294, taking first profit at Fridays low, price rejected the 38.2 fib, the problem could be the 1315 area from which price broke out of, I am pretty confident that price will go back down through it, maybe after a bit of sideways movement. On the other hand, if PA breaks above todays high, then we could be in for a move higher, waiting on a good signal to take a position. {quote}
I already took a short,looking to maybe add on it, if 1323 breaks i will run out off technical justification for a short position. Going to revise my take profits, 1294 is at another fib, that may well be the best way to go, that is if price go down from here.

M15

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