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

  • #31,641
  • Jan 14, 2014 12:12pm Jan 14, 2014 12:12pm
Quoting Pipsoholic
My personal view on Gold...
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Will look for long at 1230 area.
Update... reached level 1250. Great Fibo SNIPER.
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Complete wave 4? Look for reversal candle at bigger TF i.e Hammer @ weekly. 1st 2 days for this week look promising... bearish engulfing candle.

Current Price Action @ H1... Bigger TF must also form this ABC formation (H-L-LH-LL) to have any chance of going deeper. Expecting wave B will reach area 1248-1252. If price break today's highest price, then this formation is invalid.
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Catch your dreams!
  • #31,642
  • Jan 14, 2014 12:36pm Jan 14, 2014 12:36pm
feel free to comment !
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  • #31,643
  • Jan 14, 2014 12:52pm Jan 14, 2014 12:52pm
Quoting Ulterior
silver broke out through a major resistance, the way is clear to the upside
Really? Breakouts don't mean anything IMO, closes do. Look at the selling pressure from the top on the 4H. Silver can be to the upside simply because the dollar is weak, but if someone actively traded that break, they'd be down like 2-3%


Resistance .35/45 still intact.
When the facts change I change my mind, what do you do sir
  • #31,644
  • Jan 14, 2014 12:56pm Jan 14, 2014 12:56pm
Quoting mehr
feel free to comment ! {image}
Looks pretty I wouldn't trade it until it closes above 1,265. Someone several months ago was talking about trading an inverse H&S and I strongly suggested against it because it was budding against resistance and it led to the first plunge below 1200.

Not that it wouldn't surpass this but key resistance would have to be broken IMO. 1,255 has been valid resistance to since Nov.
When the facts change I change my mind, what do you do sir
  • #31,645
  • Jan 14, 2014 7:37pm Jan 14, 2014 7:37pm
Quoting msood
image below looks quite bearish - hidden divergence preceeded by previous two divergent tops. trend changing? time will tell. meanwhile, conditions met for a short @1253 sl 1255.50. i think if it breaks 1256, will reconfirm up trend continuation and may hitch a ride to the up side on small retracement then. for now am short. tread carefully though, may be a trap! ...no tp. will close when stochs reverse at any level turning north...
OK - am taking profit on my short from yesterday 1241.91 (approx +$11) - reason: image below. context: my previous posts as quoted above. Will wait to reload short...no longs yet.
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  • #31,646
  • Jan 14, 2014 7:46pm Jan 14, 2014 7:46pm
Quoting msood
{quote} OK - am taking profit on my short from yesterday 1241.91 (approx +$11) - reason: image below. context: my previous posts as quoted above. Will wait to reload short...no longs yet. {image}

has been waiting this for three days...my gosh
Gold is my pleasure.
  • #31,647
  • Jan 14, 2014 7:47pm Jan 14, 2014 7:47pm
Quoting jebataro
{quote} has been waiting this for three days...my gosh
what do u mean?
  • #31,648
  • Jan 14, 2014 7:48pm Jan 14, 2014 7:48pm
Quoting msood
{quote} what do u mean?

i put a short, but on monday, it was pulling back upside...so just curiously waiting for it to come down as per now.
Gold is my pleasure.
  • #31,649
  • Jan 14, 2014 8:15pm Jan 14, 2014 8:15pm
Quoting jebataro
{quote} i put a short, but on monday, it was pulling back upside...so just curiously waiting for it to come down as per now.
yeah, i know - can be elusive sometimes - patience pays, i suppose...
  • #31,650
  • Jan 14, 2014 8:16pm Jan 14, 2014 8:16pm
Quoting jebataro
{quote} i put a short, but on monday, it was pulling back upside...so just curiously waiting for it to come down as per now.

You can always expect a 5 USD swing even when the market is dead, usually a 10+ in 24 Hours or just the first 2 hours of NYC trading.

When we really get rolling I am looking for 50 USD daily swings at max.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,651
  • Jan 14, 2014 8:22pm Jan 14, 2014 8:22pm
Quoting XTrade
{quote} You can always expect a 5 USD swing even when the market is dead, usually a 10+ in 24 Hours or just the first 2 hours of NYC trading. When we really get rolling I am looking for 50 USD daily swings at max.
longer term adr xauusd around $19 but h4 atr hangs around $10 - if you manage to capture just 1 or 2 of h4 moves, ur day trading is done - that's y i switched to gold exclusively frm eurusd (that was boring) :-)
  • #31,652
  • Jan 14, 2014 8:44pm Jan 14, 2014 8:44pm
Quoting msood
{quote} longer term adr xauusd around $19 but h4 atr hangs around $10 - if you manage to capture just 1 or 2 of h4 moves, ur day trading is done - that's y i switched to gold exclusively frm eurusd (that was boring) :-)
I have to say I am a Bit confused, - do you mean that you like the way gold moves daily even on slow days as opposed to EUR/USD and thus, you have switched?

I do want to remind you - if I am correct in what I am deciphering from your post that GOLD is a commodity and ALWAYS needs to be traded and dealt
with AS SUCH. XAU/USD - although most times it is the most PURELY SYNTHETIC form of trading gold ie: spread betting or CFDs - (NEVER a chance you are actually trading metal or can take delivery) FX gold is STILL is based off the spot price of the metal.

I continue to try to encourage people that truly want to learn the ins, and outs, of this market to start paying attention to
NEWS - ie: NFP - UNEMPLOYMENT - Eurozone - the UK - Mexico / Australia / Sud Afrika / MINERS, - USD correlation- PHYSICAL DEMAND and Supply
the list goes on and on. Yet many think that this is just another 3witha / in between pair. Meaning Eur/USD - NZD/USD etc.

People don't even realize the physical demand in the LBMA right now... Wait till this catches up to NYC and the states, as beeb and I were discussing earlier
via email, then you will truly see the rise....

It's not ---- this post is also not geared towards you, just responding and venting a bit - so rant over,
Learn NEWS AND FUNDIES and use the TECHS when there is no news to worry about, then u will become a SUPREME GOLD TRADER!!!!!!!!

Rant over again.
Sincerely,
XT-
Edit:

Shorts, be careful - your buddies ain't doing much here -
BUT
Longs be careful as well because we have yet to hit above 1300 - patience. small and slow range.

In any case - at this point I see 1180 as a major point of rejection - and - if we need a triple bottom to prove it! BRING IT ON BABY!

Only a 70$ t oz. discount for me sooo... GO GO GO!

2nd rant over.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,653
  • Jan 14, 2014 9:16pm Jan 14, 2014 9:16pm
"I have to say I am a Bit confused, - do you mean that you like the way gold moves daily even on slow days as opposed to EUR/USD and thus, you have switched?"
yes!
"I do want to remind you - if I am correct in what I am deciphering from your post that GOLD is a commodity and ALWAYS needs to be traded and dealt with AS SUCH. XAU/USD - although most times it is the most PURELY SYNTHETIC form of trading gold ie: spread betting or CFDs - (NEVER a chance you are actually trading metal or can take delivery) FX gold is STILL is based off the spot.."

if u don't mind my asking, are u net long or short xauusd, and whats your first target to take some profit - much appreciate your feedback as well as rants.
  • #31,654
  • Jan 14, 2014 9:54pm Jan 14, 2014 9:54pm
Quoting goldJunkie
{quote} {quote} I had entered 2 SHORTS at 1251 weird unpredictable & volatile right now. Is it going towards my SL? or headed below 1225?
Gold @ 1241 thus far looks good, feels good. If next couple of bars on daily chart show bearish signs, I will feel even better.
  • #31,655
  • Jan 14, 2014 11:18pm Jan 14, 2014 11:18pm
And patience is rewarded.............
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Money Makes Money
  • #31,656
  • Jan 15, 2014 1:10am Jan 15, 2014 1:10am
Quoting helmi.you
hi all, and happy trading im stuck in this area, and actually i cant determine the next scenario (my charts are below) i think the Gold is going down to draw a "C" . does anyone support that !! what do you think of my charts!! {image} {image} {image} what do you think. thanks all
update: just closed with testy profit. he thing is i dont think it will go down below 1234. in my opinion we will see a very sharply move to the 1263 then to 1282. comments are welcome
  • #31,657
  • Jan 15, 2014 1:40am Jan 15, 2014 1:40am
If gold holds above 1238.5 I would enter a long from anwhere below 1239.5. If it tests the high I would short gold anwhere from above 1244.15. Inbetween those margins I am out of trades until the volume picks up.
You win, you lose. All else is history. The future does not exist.
  • #31,658
  • Jan 15, 2014 2:36am Jan 15, 2014 2:36am
Gold looks very weak right now and I am looking to short it. The only concerns I have are that it hugs 1240 for more than 30 mins so far on lowish volume and price shows indecision. This is rangebound for now and dangerous (even though I have made some profit from the moves so far!). I think that gold may sell off for the day.
You win, you lose. All else is history. The future does not exist.
  • #31,659
  • Jan 15, 2014 2:45am Jan 15, 2014 2:45am
15m on GOLD.
It seems to me an H&S. So I'm going long.

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If you do not know who you are, the Forex is the worst place to find you
  • #31,660
  • Jan 15, 2014 2:49am Jan 15, 2014 2:49am
Quoting skassacomput
15m on GOLD. It seems to me an H&S. So I'm going long. {image}
100% with you
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