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

  • #27,861
  • Nov 11, 2013 10:54am Nov 11, 2013 10:54am
Quoting venzen
{quote} thanks adam, that looks feasible. we'll have to wait to see it touch the TL to be sure. edit: by triangle theory we should be heading to 1350 round about now
True that, but a descending triangle in a downtrend sometimes results in a break to the downside.. which is what I am thinking will happen here.
insideBars==boss
  • #27,862
  • Edited 12:10pm Nov 11, 2013 11:49am | Edited 12:10pm
my brain is not working today. zzzzzzzz.

edit: oops !! didn't see this post earlier
Quoting adamjn
{quote} True that, but a descending triangle in a downtrend sometimes results in a break to the downside.. which is what I am thinking will happen here.
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  • #27,863
  • Edited 12:07pm Nov 11, 2013 11:51am | Edited 12:07pm
.
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  • #27,864
  • Edited 12:25pm Nov 11, 2013 12:03pm | Edited 12:25pm
http://localsfoolsgold.blogspot.be/2...-overview.html this was my post from yesterday ... easy to find on my blog ;-) ... the weekly triangle is shown ... I think it will most likely break to the downside ... but innocent untill proven guilty ...
  • #27,865
  • Nov 11, 2013 12:50pm Nov 11, 2013 12:50pm
I think break or bounce from 1270 would decide the clear direction for gold. Bearish so far .. heading towards major support area
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  • #27,866
  • Nov 11, 2013 2:29pm Nov 11, 2013 2:29pm
This is my analysis for tomorrow, I think gold will go up to about 1300-1307, where I will start to look for short trades, this is where the 38.23 fibo is at and also resistance.

If it doesn't make it that far, then 1297 could be the place to short at, this is around the daily pivot and also the 23.6 fibo and a downward trend line.

Comments?
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insideBars==boss
  • #27,867
  • Nov 11, 2013 4:08pm Nov 11, 2013 4:08pm
Quoting mehr
I think break or bounce from 1270 would decide the clear direction for gold. Bearish so far .. heading towards major support area {image}
+1
  • #27,868
  • Nov 11, 2013 4:13pm Nov 11, 2013 4:13pm
h4
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  • #27,869
  • Nov 11, 2013 4:58pm Nov 11, 2013 4:58pm
Based on the descending triangle, wouldn't it be too early to go long now, wouldn't it want to get to the support level first normally which is around 1271/2?

Then adamjn, why do you think it will reverse and go back to the 38% fibo level? currently based on my fibo, it sits just below the 23% level on the daily

Good luck everybody
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  • #27,870
  • Nov 11, 2013 7:46pm Nov 11, 2013 7:46pm
Quoting fxjay
{quote} agree with you.

Well, looks like it happened.

back from a bit of time off.


don't expect GOLD to do much until after JANUARY............... New YeaR!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,871
  • Nov 11, 2013 7:47pm Nov 11, 2013 7:47pm
Quoting morfasie
Based on the descending triangle, wouldn't it be too early to go long now, wouldn't it want to get to the support level first normally which is around 1271/2? Then adamjn, why do you think it will reverse and go back to the 38% fibo level? currently based on my fibo, it sits just below the 23% level on the daily Good luck everybody {image}

based on ure chart --- nice buy...........
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,872
  • Nov 11, 2013 8:01pm Nov 11, 2013 8:01pm
Gold doesn't seem to be interested in a pullback just yet. Maybe later in the US session.
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Money Makes Money
  • #27,873
  • Nov 11, 2013 8:05pm Nov 11, 2013 8:05pm
Quoting XTrade
{quote} based on ure chart --- nice buy...........
Hi Xtrade, out of education, why do you say it seems like a good buy now?
  • #27,874
  • Nov 11, 2013 8:12pm Nov 11, 2013 8:12pm
Quoting KiwiOz
Gold doesn't seem to be interested in a pullback just yet. Maybe later in the US session. {image}

Hi KiwiOz,

Based on your lines, do you mean pullback downward or upwards, because your lines are below the chart?
  • #27,875
  • Nov 11, 2013 8:15pm Nov 11, 2013 8:15pm
Quoting morfasie
{quote} Hi Xtrade, out of education, why do you say it seems like a good buy now?

If you look @ support n' resistance levels you will see it. Personally with the recent dip I would NOT be surprised @ 1255.
Yet, as a trader, I need to look at all potential levels.

Hope this helps,

Also --

On test of 1250 area - I will look FIRST TO 1315 on the upside swing,,,,
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,876
  • Nov 11, 2013 8:16pm Nov 11, 2013 8:16pm
Quoting KiwiOz
Gold doesn't seem to be interested in a pullback just yet. Maybe later in the US session. {image}
maybe london session they need some pullback to RSI level 35-45.
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  • #27,877
  • Nov 11, 2013 8:17pm Nov 11, 2013 8:17pm
Quoting morfasie
{quote} Hi Xtrade, out of education, why do you say it seems like a good buy now?

decent dip, place stops correctly. ND U have a trade.

For further analysis - please read back into the thread.....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,878
  • Nov 11, 2013 8:18pm Nov 11, 2013 8:18pm
Quoting khol_hands
{quote} maybe london session they need some pullback to RSI level 35-45. {image}


BUY LOW, SELL HIGH. Simplest of all equations... ... . . . .
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,879
  • Nov 11, 2013 8:27pm Nov 11, 2013 8:27pm
Quoting morfasie
{quote} Hi KiwiOz, Based on your lines, do you mean pullback downward or upwards, because your lines are below the chart?
Sorry that's a longer projection chart. No, I mean minor pullback. Can't get a line on it yet, but I would not expect above 1304.
Money Makes Money
  • #27,880
  • Nov 11, 2013 8:38pm Nov 11, 2013 8:38pm
Indian buying season is over. We are going into US and Brit, holidays, Gold will likely remain in range until the new year..


JUST IMO.. . . ..............
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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