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

  • #32,241
  • Jan 30, 2014 3:00am Jan 30, 2014 3:00am
Quoting Ssm
{quote} I must say that is not a good looking inverted head and shoulder you have there. IMO, we are now in a range after the upmove since 31 Dec 2013. Range levels: High 1268 Low 1251 As indicated yesterday, I was previously bullish in Gold, but not anymore since yesterday as we could not break above 1268. Nevertheless, i am not too bearish as well since price also did not close below 1251 yesterday. Close means at least a H4 candle close. Will be sideline until a clear direction is set, or may be playing within the range levels.
agree with your view. likely price will test 1220 to form perfect head and shoulder pattern, what do you think?
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  • #32,242
  • Jan 30, 2014 5:03am Jan 30, 2014 5:03am
Quoting Ssm
{quote} I must say that is not a good looking inverted head and shoulder you have there. IMO, we are now in a range after the upmove since 31 Dec 2013. Range levels: High 1268 Low 1251 As indicated yesterday, I was previously bullish in Gold, but not anymore since yesterday as we could not break above 1268. Nevertheless, i am not too bearish as well since price also did not close below 1251 yesterday. Close means at least a H4 candle close. Will be sideline until a clear direction is set, or may be playing within the range levels.
The fundamental picture here:
EM currencies in Crisis
EM Rates being raised
Will place markets under pressure

I'm suspicious of a rush to safety...
  • #32,243
  • Jan 30, 2014 7:34am Jan 30, 2014 7:34am
Keep an open mind to Long Sliver near 18.60 ...
"It's the Margin, Stupid."
  • #32,244
  • Jan 30, 2014 7:41am Jan 30, 2014 7:41am
Bad US data but Gold and Silver fell.

XT Sir , Rhodie or anybody can explain?
The true fact is market doesn't care, risk mgt is important.
  • #32,245
  • Jan 30, 2014 7:50am Jan 30, 2014 7:50am
Quoting Ssm
Bad US data but Gold and Silver fell. XT Sir , Rhodie or anybody can explain?
Minor news, market more respect to previous FOMC meeting.
  • #32,246
  • Jan 30, 2014 7:52am Jan 30, 2014 7:52am
Quoting Ssm
Bad US data but Gold and Silver fell. XT Sir , Rhodie or anybody can explain?
someone dump 10k of future contract onto the market.
Big boys trying to manipulate it down when chinese are absent celebrating CNY.
Great tactics to the big boys!
  • #32,247
  • Jan 30, 2014 8:06am Jan 30, 2014 8:06am
Quoting nicefirework
{quote} Minor news, market more respect to previous FOMC meeting.
GDP Q/Q and unemployment claims are minor news to you? I see.
The true fact is market doesn't care, risk mgt is important.
  • #32,248
  • Jan 30, 2014 8:08am Jan 30, 2014 8:08am
Quoting Ssm
Bad US data but Gold and Silver fell. XT Sir , Rhodie or anybody can explain?
As an almost pure data trader this is when I change my strategy. Yes, I took a quick long that turned out to be against the trend so I reversed it to 1241 from 1245. Will stay out and observe home sales.
  • #32,249
  • Jan 30, 2014 8:23am Jan 30, 2014 8:23am
Quoting Vachus
Keep an open mind to Long Sliver near 18.60 ...
Added some at 19.08, will add more if it really reaches 18.6, but might get a bounce from here
  • #32,250
  • Jan 30, 2014 8:34am Jan 30, 2014 8:34am
Quoting whichBanker
{quote} Added some at 19.08, will add more if it really reaches 18.6, but might get a bounce from here
Good luck, but i prefer to wait lower and target a break of 20.50 If price allowed...
"It's the Margin, Stupid."
  • #32,251
  • Jan 30, 2014 8:40am Jan 30, 2014 8:40am
Quoting Ssm
Bad US data but Gold and Silver fell. XT Sir , Rhodie or anybody can explain?
Ok, got something from Kathy.

http://www.bkassetmanagement.com/featured/dollar-rises-on-us-gdp-stocks-drive-usdjpy_6342/

Main takeaway "Anything above 3% GDP growth is healthy and consistent with a continued recovery in the U.S. economy ".
The true fact is market doesn't care, risk mgt is important.
  • #32,252
  • Jan 30, 2014 8:50am Jan 30, 2014 8:50am
Quoting Vachus
{quote} Good luck, but i prefer to wait lower and target a break of 20.50 If price allowed...
http://i1116.photobucket.com/albums/...pscd3465a1.jpg

Price just fell thru a channel. I will be careful of buying retracement.

Also, the moving averages are heading down.
The true fact is market doesn't care, risk mgt is important.
  • #32,253
  • Jan 30, 2014 9:05am Jan 30, 2014 9:05am
Don't get it.

Pending home sales -8.7% (Extremely Bad data), yet Gold and Silver remains weak.
The true fact is market doesn't care, risk mgt is important.
  • #32,254
  • Jan 30, 2014 9:07am Jan 30, 2014 9:07am
Quoting Ssm
{quote} {image} Price just fell thru a channel. I will be careful of buying retracement. Also, the moving averages are heading down.
Open the daily chart , we have been ranging for the last two month ... If the range breaks, i will average down and exist on a bounce ! If i'm right, the price will clear the lowest low of the range and then attack the highs of the range.
"It's the Margin, Stupid."
  • #32,255
  • Jan 30, 2014 9:20am Jan 30, 2014 9:20am
Quoting Ssm
Don't get it. Pending home sales -8.7% (Extremely Bad data), yet Gold and Silver remains weak.
The news are not reflect the PA. It is the reason for the manipulation of the big boys. It is totally funny while BAD US data But usd is strong. Really bullshit. Dont believe the news.
  • #32,256
  • Jan 30, 2014 9:29am Jan 30, 2014 9:29am
Quoting namaus
{quote} The news are not reflect the PA. It is the reason for the manipulation of the big boys. It is totally funny while BAD US data But usd is strong. Really bullshit. Dont believe the news.
Gold should have seen a major jump! Instead its going sideways. At such times I keep out!
  • #32,257
  • Jan 30, 2014 9:55am Jan 30, 2014 9:55am
I would not believe any news from any corner of this Market. The recent drop was a technical move that at this point is incomplete on the hourly time frame . The extended move over shot the 127 fibo and fell short of the 161 (1235.23) level of roughly $2 .
This could overshoot the 161 to hit the 50% fibo on the daily making it a double bottom at this level . Then continue north .......
  • #32,258
  • Jan 30, 2014 10:01am Jan 30, 2014 10:01am
Quoting goldJunkie
I had opened two shorts at 1251 earlier but closed untimely now trying again. Opened two shorts at 1252 Stop Loss @ 1280
I can smell money.
  • #32,259
  • Edited 10:22am Jan 30, 2014 10:04am | Edited 10:22am
Quoting rythmrig
I would not believe any news from any corner of this Market. The recent drop was a technical move that at this point is incomplete on the hourly time frame . The extended move over shot the 127 fibo and fell short of the 161 (1235.23) level of roughly $2 . This could overshoot the 161 to hit the 50% fibo on the daily making it a double bottom at this level 1231.xx . Then continue north .......

To add to this there seems technically to be unfinished business on the 4 hourly topside due to a break of 1268 ( 12/10/2013) to 1279 (24/1/2014) . 127 fibo extension would be 1291 ...... 161 would be 1320.
  • #32,260
  • Jan 30, 2014 12:24pm Jan 30, 2014 12:24pm
This is demo position

First Trade 2013.09.11
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