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

From the H4 candle, looks like it is heavily resisted near that 1265 level.

the H4 candle have not closed yet. gold is getting more difficult to trade in 2014.

Just look at the long tail. We knew bears are selling it aggressively at that level.

Yes and also USD strength is fading. It may boost gold up.

There, 1265 level broke.

Price is breaking it up.... ;/

hmm wait for h4 candle

My sell limit is 1266.92 area. My SL is 1270.

Yeah! I agreed as told so before near 10 days.

I am talking about short term(correction), as you can see eurusd up and usdchf going down. and usdjpy down. (NOW)
If you are talking about 10 days from now, then you are wrong. eur and gbp drop from 1.3650 and 1.6650.

h4 candle close

Looking at gold, I'm sitting wondering if this was a tear-up and now the market moves up to where it was going anyway...

Big Money put positions in at the close of NY @1258. Does this mean that the market is now going short? I guess I'll know in 18 hours...

How do you know big money posision?

I have indicators that show market volatility. Depending on the type of activity it tells me whether it's HF trading, low vol or high vol opposing trades in short period. I cannot tell you any more than that, but there is more that that.

Those Big Money positions were entered @ 20h59, 03 Feb 2014 with the highest volume of the PM session. Short positions are working better than long positions at the moment. Yesterday's move was sharp and a retracement is likely but we wait for post 9H30 trades to se where the market will go.

Meta Trader Technical analysis Introduction

Technical analysis is research of market dynamics that is done mainly with the help of charts and with the purpose of forecasting future price development. Technical analysis comprises several approaches to the study of price movement which are interconnected in the framework of one harmonious theory. This type of analysis studies the price movement on the market by means of analyzing three market factors: price, volumes, and, in case of study of futures contracts’ market, of an open interest (number of open positions). Of these three factors the primary one for technical analysis is the prices, while the alterations in other factors are studies mainly in order to confirm the correctness of the identified price trend. This technical theory, just like any theory, has its core postulates.
Technical analysts base their research on the following three axioms:

1. Market movement considers everything
   This is the most important postulate of technical analysis. It is crucial to understand it in order to grasp rightly the procedures of analysis. The gist of it is that any factor that influences the price of securities, whether economic, political, or psychological, has already been taken into account and reflected in the price chart. In other words, every price change is accompanied by a change in external factors. The main inference of this premise is the necessity to follow closely the price movements and analyze them. By means of analyzing price charts and multiple other indicators, a technical analyst comes to the point that the market itself shows to her/him the trend it will most likely follow.
   This premise is in conflict with fundamental analysis where the attention is primarily paid to the study of factors, and later on, after the analysis of the factors, to conclusions as to the market trends are made. Thus, if the demand is higher than the supply, a fundamental analyst will come to the conclusion that the price will grow. Technical analyst, however, makes her/his conclusions in the opposite sequence: since the price has grown, it means the demand is higher than the supply.
2. The prices move with the trend
   This assumption is the basis for all methods of technical analysis, as a market that moves in accordance with trends can be analyzed, unlike a chaotic market. The postulate that the price movement is a result of a trend has two effects. The first one implies that the current trend will most likely continue and will not reverse itself, thus, excluding disorderly chaotic movement of the market. The second one implies that the current trend will go on until the opposite trend sets in.
3. The history repeats itself
   Technical analysis and studies of market dynamics are closely related to the studies of human psychology. Thus, the graphical price models identified and classified within the last hundred years depict core characteristics of the psychological state of the market. First of all, they show the moods currently prevailing in the market, whether bullish or bearish. Since these models worked in the past, we have reasons to suppose that they will work in the future, for they are based on human psychology which remains almost unchaged over years. We can reword the last postulate — the story repeats itself — in a slightly different way: the key to understanding the future lies in the studies of the past.

The last point is very important. That is the most likely reason for markets to move: they are all based upon opinion at that moment.

Worked out nicely. Graph update.

MY VIEW ON GOLD

Hey spin, thanks. Looks like my analysis was right. I must have spottd the turn in sentiment to watch it turn bear-ish. This is a bull run with a bearish attitude.

so for now, what do u think bro?