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

  • #30,561
  • Dec 16, 2013 1:13pm Dec 16, 2013 1:13pm
sorry, no taper means gold up for a while to me... my mistake
  • #30,562
  • Dec 16, 2013 1:33pm Dec 16, 2013 1:33pm
Closed Short: 1243
Now Long: 1243
Trade with what you see, not what you feel.
  • #30,563
  • Dec 16, 2013 2:25pm Dec 16, 2013 2:25pm
So whats happening now? Return to 1220?
The good thing with the future is that it is progressively approaching...
  • #30,564
  • Dec 16, 2013 2:28pm Dec 16, 2013 2:28pm
Quoting spinozagr
So whats happening now? Return to 1220?

side moves...
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  • #30,565
  • Dec 16, 2013 2:33pm Dec 16, 2013 2:33pm
Quoting Rebels
{quote} side moves...
I wouldn't say that it is exactly side move… from 1250 to 1220 or vice versa is a quite long road...
The good thing with the future is that it is progressively approaching...
  • #30,566
  • Dec 16, 2013 2:34pm Dec 16, 2013 2:34pm
Quoting spinozagr
So whats happening now? Return to 1220?
Well 1250 was rejected hence the downwards pressure, the bulls haven't stepped in yet to take that pressure away.

Maybe soon they will.

I think it could reach 1238 before deciding so my stop is below that but I think another test of 1250 is likely hence my long from 1243...

We shall see, was a good days trading today.
Trade with what you see, not what you feel.
  • #30,567
  • Dec 16, 2013 2:51pm Dec 16, 2013 2:51pm
Quoting Basement
{quote} Well 1250 was rejected hence the downwards pressure, the bulls haven't stepped in yet to take that pressure away. Maybe soon they will. I think it could reach 1238 before deciding so my stop is below that but I think another test of 1250 is likely hence my long from 1243... We shall see, was a good days trading today.
Unlikely to retest 1250 after retracing so much of the up move.
"Where you want to be is always in control, never wishing, always trading.
  • #30,568
  • Edited 3:11pm Dec 16, 2013 3:00pm | Edited 3:11pm
Quoting Spec_And
{quote} Unlikely to retest 1250 after retracing so much of the up move.
If it closes at 1240, it could easily test 1238-1230 during the Asia session or 1250.

A $10 move is always likely in either direction...

Looking just now the price has tested and bounced off of the 50% fib from the days low-hi.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-12-16 at 21.09.57.png Size: 39 KB
Trade with what you see, not what you feel.
  • #30,569
  • Dec 16, 2013 5:22pm Dec 16, 2013 5:22pm
Quoting Basement
{quote} If it closes at 1240, it could easily test 1238-1230 during the Asia session or 1250. A $10 move is always likely in either direction... Looking just now the price has tested and bounced off of the 50% fib from the days low-hi. {image}
The LOWEST swing in gold is about 5 USD.

IT ALWAYS will move a ten USD swing even in slow trading.

I am actually surprised we are not at 5-7 USD days ATM,

but all the fed crap has the market again on a useless edge.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,570
  • Dec 16, 2013 5:24pm Dec 16, 2013 5:24pm
Quoting Spec_And
{quote} Unlikely to retest 1250 after retracing so much of the up move.

likely not tonight - maybe in LDN session but - tomorrow is completely likely,

I KEEP STRESSING the IMPORTANCE of NEWS on Gold and not a lot of people listen.

for instance CORE CPI could push it past 1250 if neg.
Attached Image (click to enlarge)
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,571
  • Dec 16, 2013 5:27pm Dec 16, 2013 5:27pm
Quoting XTrade
{quote} The LOWEST swing in gold is about 5 USD. IT ALWAYS will move a ten USD swing even in slow trading. I am actually surprised we are not at 5-7 USD days ATM, but all the fed crap has the market again on a useless edge.
Today is not of a less importance to the feds day ... we have three CPIs coming out !
"It's the Margin, Stupid."
  • #30,572
  • Dec 16, 2013 5:28pm Dec 16, 2013 5:28pm
Quoting Basement
{quote} If it closes at 1240, it could easily test 1238-1230 during the Asia session or 1250. A $10 move is always likely in either direction... Looking just now the price has tested and bounced off of the 50% fib from the days low-hi. {image}
Please try and INCLUDE the Time Frame of the chart you are posting either written or screen "shotted"

1240 to 1238 is possible I mean it's two bucks~!

but look at your 50 % fibo.

Orders are placed usually above and below, the line - short or long - not on the line. This is obviously for confirmation reasons.
Which in low volume end of year markets can EASILY backfire. So be careful.

AGAIN, why I encourage people to draw their OWN support and resistance lines on a daily or WEEKLY first,

then see how the fibos because at least 3 if drawn properly WILL INDEED match up.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,573
  • Dec 16, 2013 5:30pm Dec 16, 2013 5:30pm
Quoting Vachus
{quote} Today is not of a less importance to the feds day ... we have three CPIs coming out !

E D I T: NEVERMIND I thought you said "tomorrow" then I saw feds day. FOMC has usually more impact than CPI.

Yes, I just posted them,

for me they are tomorrow - I am in NYC. They should be for you as well! too!

Considering they are based on the NY market and EST.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,574
  • Dec 16, 2013 5:32pm Dec 16, 2013 5:32pm
Quoting XTrade
{quote} Yes, I just posted them, for me they are tomorrow - I am in NYC. They should be for you as well! too! Considering they are based on the NY market and EST.
Lets hope that our father in heaven , will align a tick up in inflation number with the feds ... its should be fun to watch and make some good money of it!

My calender sitting is based on London time , so its today
"It's the Margin, Stupid."
  • #30,575
  • Dec 16, 2013 6:32pm Dec 16, 2013 6:32pm
Quoting Vachus
{quote} Lets hope that our father in heaven , will align a tick up in inflation number with the feds ... its should be fun to watch and make some good money of it! My calender sitting is based on London time , so its today

Yes,!!!

Nice LIL' GAP north after the daily "break time"

See below.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,576
  • Dec 16, 2013 6:33pm Dec 16, 2013 6:33pm
I'd say whoever took the low off of 1220 area just cashed in on a 30 USD move today at 1250+ area.

Looking at chart above.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,577
  • Dec 16, 2013 6:38pm Dec 16, 2013 6:38pm
Quoting XTrade
{quote} Yes,!!! Nice LIL' GAP north after the daily "break time" See below. {image}
Xtrade, can you explain what is the key of the gap being south or north when a new day begin ?
  • #30,578
  • Dec 16, 2013 6:43pm Dec 16, 2013 6:43pm
Quoting The Rhodie
{quote} What chart package do you use to get the swing points? Mine is manual so far... Would love a system like that.
zigzag indi. but its really the same with manually spotting swings and manual is better. indis lag
Pecuniae obediunt omnia
  • #30,579
  • Dec 16, 2013 6:52pm Dec 16, 2013 6:52pm
Another "uncomfortable high" in RBA minute report. However the effects of low interest rate was mentioned in the report also, thinking to cash in my huge position of shorting AUD once it closer to 0.85. Dear Mr.Stevens, your call is our action!
  • #30,580
  • Dec 16, 2013 6:58pm Dec 16, 2013 6:58pm
Quoting waifong
{quote} Xtrade, can you explain what is the key of the gap being south or north when a new day begin ?
There is always a pause in Gold trading each day (spot and futures) after 5pm, look at the chart I posted and the session overlaps below and you will see the break.

If orders are triggered upon the market re-open it will create a gap up or down in price,

sometimes the market gaps on the open, sometimes it is stagnant and then a bunch of say market orders or in this case what looks like minimal "buys" were triggered at the same time, creating a flatline price to jump or gap up due to the orders hitting different brokers around the same price.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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