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

  • #32,201
  • Jan 28, 2014 3:46am Jan 28, 2014 3:46am
Quoting JimmyC
Good day... XAUUSD 1H Bearish technical patterns indicate weakness to support. Perhaps a need to review 1242 target but will short if we close below 1257... My bullishness on Gold is fading FOMC - on-going but reducing asset purchase = strengthening DXY? I think yes but not bullish {image}
Taking its time
  • #32,202
  • Jan 28, 2014 3:46am Jan 28, 2014 3:46am
Quoting JimmyC
Good day... XAUUSD 1H Bearish technical patterns indicate weakness to support. Perhaps a need to review 1242 target but will short if we close below 1257... My bullishness on Gold is fading FOMC - on-going but reducing asset purchase = strengthening DXY? I think yes but not bullish {image}
I think your chart says it all JimmyC.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh1.png Size: 41 KB
Money Makes Money
  • #32,203
  • Jan 28, 2014 4:16am Jan 28, 2014 4:16am
Quoting KiwiOz
{quote} I think your chart says it all JimmyC. {image}
It seems to be an FOMC bet.

Note the DXY
Attached Image (click to enlarge)
Click to Enlarge Name: DXY 1H.png Size: 12 KB
  • #32,204
  • Jan 28, 2014 5:03am Jan 28, 2014 5:03am
Audusd is a very tempting short here I have to say guys.
  • #32,205
  • Jan 28, 2014 6:41am Jan 28, 2014 6:41am
weekly open last week - 1253,68 on my platform :nerd:
just do it
  • #32,206
  • Jan 28, 2014 6:58am Jan 28, 2014 6:58am
Quoting okanemici
Audusd is a very tempting short here I have to say guys.
Money Makes Money
  • #32,207
  • Jan 28, 2014 7:31am Jan 28, 2014 7:31am
Hopefully the bear wins over bull...or the other way...


Confusing
Gold is my pleasure.
  • #32,208
  • Jan 28, 2014 7:35am Jan 28, 2014 7:35am
Quoting jebataro
Hopefully the bear wins over bull...or the other way... Confusing

USDX is DOWN.

Gold is UP.
Gold is my pleasure.
  • #32,209
  • Jan 28, 2014 7:42am Jan 28, 2014 7:42am
I was bought this market
Attached Image (click to enlarge)
Click to Enlarge Name: goldm30-buy.png Size: 63 KB
The market was bullish, turned bearish, and you'are brokish!!!
  • #32,210
  • Jan 28, 2014 8:10am Jan 28, 2014 8:10am
Dollar basket has turned into a basket case.
You win, you lose. All else is history. The future does not exist.
  • #32,211
  • Jan 28, 2014 8:15am Jan 28, 2014 8:15am
Quoting The Rhodie
Dollar basket has turned into a basket case.
Pardon me. What do you mean?
The true fact is market doesn't care, risk mgt is important.
  • #32,212
  • Jan 28, 2014 8:19am Jan 28, 2014 8:19am
Not looking at anything else, but the price action on gold, I have positioned myself long on a H4 pin bar and also a 2 bar reversal has now formed. Hoping it plays out as expected.

Also note, yesterdays daily candle closed as a bearish engulfing, but it closed above daily support and also above the 21 and 8 EMA's, so I am still buying.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUH4.png Size: 124 KB
insideBars==boss
  • #32,213
  • Jan 28, 2014 9:09am Jan 28, 2014 9:09am
Thank God.

Managed to close my short with flying colors.
Gold is my pleasure.
  • #32,214
  • Jan 28, 2014 9:15am Jan 28, 2014 9:15am
Quoting okanemici
{quote} This is what I plan after this move down ! {image}
First long is here 1250 with this drop !
  • #32,215
  • Jan 28, 2014 9:17am Jan 28, 2014 9:17am
Quoting jebataro
Thank God. Managed to close my short with flying colors.

USDX got a small window going up yet powerful to pull back bull of gold back to bear position temporarily.
This is causing from CB consumer confidence has increased.
Cheers all.
Attached Image (click to enlarge)
Click to Enlarge Name: MY WAY-1509-280114.jpg Size: 260 KB
Gold is my pleasure.
  • #32,216
  • Jan 28, 2014 9:21am Jan 28, 2014 9:21am
Quoting goldJunkie
I had opened two shorts at 1251 earlier but closed untimely now trying again. Opened two shorts at 1252 Stop Loss @ 1280
Current Price 1251, finally my positions look green after a long wait.
  • #32,217
  • Jan 28, 2014 9:31am Jan 28, 2014 9:31am
Quoting KiwiOz
{quote} Been out of the Gold scene for a few days. Don't like trading retracements. One step at a time. First target is 1246 which is a little more than a 61.8 retrace from 1279. The way I see it the retrace is over. I could be wrong so do your own analysis before taking a trade. I believe we are about to embark on wave 5 of 5 taking gold down to around 1015 with a few speed bumps on the way, notably at around 1140. I see quite a few are calling a double bottom. Maybe, maybe not. For a double bottom to be confirmed price will need to advance above...

1296/1305 .. give a thought?
A trade should be based on an assumption based on facts
  • #32,218
  • Jan 28, 2014 5:05pm Jan 28, 2014 5:05pm
Looks like ascending boardening wedge pattern?

Attached Image
  • #32,219
  • Jan 28, 2014 5:32pm Jan 28, 2014 5:32pm
Hi XT, Good Morning (Asian Time)

Base on my chart below, this morning we have:

Major Support 1241.05
Major Resistant 1289.25

Minor Support 1247.92
Minor Resistant 1259.05

Currently price at around 1253.66. For the last 24 hrs we can see that gold move in range between yesterday Minor Suppor and Minor Resistant (refers to yesterday SR analysis).

Today, i think gold wil move between Minor Support 1247.92 and Minor Resistant 1259.05 again first before trying move to Major Support 1241.05 or Major Resistant 1289.25.

If gold could break Major Support 1241.05 i think it will open bigger probability that price will starting down movement again. We'll see then. But if not, i think up movement that starting at 2013.12.31 will be continue.


Happy trade,

DRT




http://i59.tinypic.com/16hopw7.png

Quoting Drentaga
{image} Hi XT, Last 24 hours price drop around $27 Now price is 1256.83 Base on my chart above, gold now still move inside Major Support 1240.42 and Major Resistant 1290.40. And in daily base gold now move inside Minor Support 1245.97 and Minor Resistant 1266.86. Daily trend base on last 24 hours price is down. My short term plan for today is waiting price move to Minor Support or Minor Resistant to set the entry. Have a nice trade, DRT
  • #32,220
  • Edited 10:00pm Jan 28, 2014 5:45pm | Edited 10:00pm
Quoting Drentaga
Hi XT, Good Morning (Asian Time) Base on my chart below, this morning we have: Major Support 1241.05 Major Resistant 1289.25 Minor Support 1247.92 Minor Resistant 1259.05 Currently price at around 1253.66. For the last 24 hrs we can see that gold move in range between yesterday Minor Suppor and Minor Resistant (refers to yesterday SR analysis). Today, i think gold wil move between Minor Support 1247.92 and Minor Resistant 1259.05 again first before trying move to Major Support 1241.05 or Major Resistant 1289.25. If gold could break Major Support...
Turkey's huge interest rate hike move has just brought new interest in the EM imho. I expect massive flow of money towards AUD, JPY & CAD as well as USD weakness. As a result I am bullish on gold. Risk is on in general. Tonight Obama may also send USD to Yell-Hen!
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