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

two bottom pattern ?

I agree with that,not much looking like it has potential for correction now,should touch 1907-1898 area at least before moving up again,but maybe we are already in the no-interest time due to xmas.

Have to add a correction here,it is possible the low has already come in and we are in the upswing agan!

Even so when there is no strong rejection at yesterday low of 1187.

offtopic.

Hi X,

If it happens that you are writing a New Reply and then part of your work (or all of it) dissapear, press ctrl+z until it is back. You may need to do this twice or more.

It happens to me a lot when I'm using a laptop. So I disable the touchpad and use a wireless mouse instead.

Ctrl+Z = undo
Ctrl+Y = redo

Position were opened
we wait for targets:
TP1 1191
TP2 1182
Good luck

You may be a little premature with your short........I'm still expecting at least a touch of the daily Pivot.

Hey guys, just thought I'd possibly start contributing to the forum rather than watching from the sideline for over a year.

I must say Xtrade, it's great to see you still at it! and it seems your still in contact with beeb!

To those of you who are new, I have to say do not get disheartened by a market move that hurts your account, every single trader has lost money in the beginning. If you are emotionally attached to any one trade you will not make a successful trader. Also, do not base your entry/exits on someone else's judgement, develop your own trading style and please for the love of god do not be bias to the upside of downside, day trading is all about playing the price action (up and down). Use your indicators, take a calculated risk on every trade you open!

I am no 'professional' by any sense, I have only been trading since 2009 but haven't traded for MONTHS, and started back in November of this year after a break since January. In this time I decided to study price action, make my own predictions, interporate S/R levels that 'I' am comfortable with. I do agree with some of the S/R levels and FIB graphs that people have posted, but at the same time, it is very easy to make a BIAS graph/data set that suits your sentiment. I'm guilty of it from time to time, and it catches me out.

Anywho, I just wanted to say I think this forum is a great setting for traders to debate the battle we are currently undergoing in the PM Market !! it's so exciting! I linked my live account and will be updating my trades through it regularly, however you wont see graphs out of me.. I'm not that fancy

Mitch

PS. Xtrade is beeb still on this forum?

Currently long
XAU 1190 (1lot) , 1202 (4lot)
XAG 19.20 (5lot)

Looking for gold to retest 1200 at which point I will close my longs at 1202, only holding my long at 1190. I'm not comfortable with the current price action, I was expecting a much more aggressive rally in the asian and london opening. Only time will tell!

Looking for silver to test 19.46 on the upside and I will probably call it a day.

Silver positions are on SL BE at this stage.

Good luck everyone! We can't all be winners!

Thanks for the input. I use both a Mac desktop and a PC, so It might be "0ption" or command

Buy limit for gold 1183.30 with stops at 1178
Happy trading!

Beware of slipage.
If it did breaks under 1180 there might be a big drop down and your stop might not be filled at 1178

Buyers appeared on Sliver 19.18 , giving it a shot - long, stoplose under 19

good night and good day everyone

need some collapse and new lows

neat chart

something new to me : Three Buddha or west H&S : what does it say ?

but at the same time , will it turn out to be a double bottom ?

Will repeat the same story

If we draw Fib from Hi to Lo, 1267 to 1187, we see that price is neatly resisted by Fib levels. Same goes to Silver. Interesting.

I like this chart a lot, it shows the potential - which has failed once or twice already of the INVERSE HEAD N' SHOULDERS' then creating and resuming the Long term Bull run, people will then be stacking the golden chips.

-----> Sure it could go down further if the USA produces positive news,
KEYS would be - how much or if they have to stop tapering off.

-----> Unemployment =-= KEY! N33DS serious creation or Long term jobs in VARIOuS fields.

-----> INFLATION -----> NFPs -----INTEREST RATES KEY KEY KEY!

Look below, just as planned. Hit and stalled 5 USD below the BRN @ 1200 - passed through with a mini boost - Now Stalled again @ 1225

Sometimes this market is sooo predictable - I suppose it comes with years of staring at the simple line chart

hi

market made its move, everyone including me was waiting to tes 1180 but it tested 1187 and turned back, above 1200 my targets are 1214 and 1230 wish i coul enter earlier for long.
i saw a comment today from commerzbank , they say after tapering is clear now gold can find its bot at 1220 area and now we can see a rally coz uncertainty is göne and ppl may start investing to gold.