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

  • #32,441
  • Feb 7, 2014 11:29am Feb 7, 2014 11:29am
Attached Image (click to enlarge)
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Ro IMRAN Ro
  • #32,442
  • Feb 7, 2014 4:31pm Feb 7, 2014 4:31pm
guys what do you think for these charts?
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  • #32,443
  • Feb 7, 2014 4:40pm Feb 7, 2014 4:40pm
19,0 dollar zone was resistance at 2008march-2009 december-and 2010 may . And it became support at 2013 june 2014 january. maybe we need to go 25dollars again before breaking 19,0 dollars support. after breaking support we may go to 16 dollars. so buy at 20 and sell at 25 = % 25 profit. good money.ofcourse it's not sure... i'm trying to decide.
  • #32,444
  • Feb 7, 2014 7:36pm Feb 7, 2014 7:36pm
Quoting emirfas1
19,0 dollar zone was resistance at 2008march-2009 december-and 2010 may . And it became support at 2013 june 2014 january. maybe we need to go 25dollars again before breaking 19,0 dollars support. after breaking support we may go to 16 dollars. so buy at 20 and sell at 25 = % 25 profit. good money.ofcourse it's not sure... i'm trying to decide.

We are still in ranging mode. Unless we can have at least a day close above 20.3 to 20.4, then we have already broken out of the range. If not, we will remain in that range.

http://i1116.photobucket.com/albums/...ps416e28b7.jpg
The true fact is market doesn't care, risk mgt is important.
  • #32,445
  • Feb 7, 2014 8:41pm Feb 7, 2014 8:41pm
Likewise in Gold, seems that we are also in a ranging mode. If 1268 broken and close above, we are still be resisted by 1272. Unless we can close above these levels, then I will be comfortable with the trend, if not, we might see price going back to the bottom range.

If price goes back to bottom range 1248 to 1251. This is an area which I will be buying, which is also bottom of the upwards channel.

Comments are welcome.

http://i1116.photobucket.com/albums/...pse030ceef.jpg
The true fact is market doesn't care, risk mgt is important.
  • #32,446
  • Edited 9:03pm Feb 7, 2014 8:50pm | Edited 9:03pm
Quoting Ssm
Likewise in Gold, seems that we are also in a ranging mode. If 1268 broken and close above, we are still be resisted by 1272. Unless we can close above these levels, then I will be comfortable with the trend, if not, we might see price going back to the bottom range. If price goes back to bottom range 1248 to 1251. This is an area which I will be buying, which is also bottom of the upwards channel. Comments are welcome. {image}
[emphasis added] Having briefly examined the two charts, I have no criticisms and one comment: useful. The two combined. I'm going to add them to my charts.
  • #32,447
  • Feb 7, 2014 11:49pm Feb 7, 2014 11:49pm
Hi Buddy - OK Here's how it works.

As a news trader FORGET ABOUT THE LAST MONTH - THE ACTION HAPPENS ON THE FORECAST being BEAT or NOT.......
News trading is very "subjective" while at the same time being "objective" in your point of view - yet my first statement holds true.

You did get a RISE in Unemployment via the NFP..................
The US data for the Unemployment RATE - stays basically the same.

This is why we did not push through 1275 today.

But I do like buying physical silver at anything less than 20.00

Hope this helps if not let me know.
Thanks,
XT



Quoting dric
{quote} Hi XT! Finally you're back! I do have some concerns whether "Previous month data VS This month (Actual) data" or "Forecast VS This month (Actual) data" weighs more in terms of direction and momentum. What do you think based from your experience? Also, I wonder why the unemployment rate went down with such poor employment data coming out like December data? I was actually expecting a rise in unemployment rate.. Advance thanks to your feedback! Regards, dric
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,448
  • Feb 7, 2014 11:51pm Feb 7, 2014 11:51pm
FINALLY - FINALLY

Someone Ssm - POSTS a channel that is real for today's and the last MONTHS DATA AND TECHS.

GREAT JOB.

Quoting Ssm
Likewise in Gold, seems that we are also in a ranging mode. If 1268 broken and close above, we are still be resisted by 1272. Unless we can close above these levels, then I will be comfortable with the trend, if not, we might see price going back to the bottom range. If price goes back to bottom range 1248 to 1251. This is an area which I will be buying, which is also bottom of the upwards channel. Comments are welcome. {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,449
  • Feb 7, 2014 11:54pm Feb 7, 2014 11:54pm
ADVICE =

GOLD IS A COMMODITY - JUST LIKE BRENT CRUDE.

IT IS NOT AN "FX Pair" EVEN IF YOU THINK SO = N O T & NEVER WILL BE.

COMMODITY - web search it - and then search FIAT CURRENCY, and China's Currency PEG.

REMEMBER THESE things when trading IT...........
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,450
  • Feb 7, 2014 11:59pm Feb 7, 2014 11:59pm
By the way,
THANKS!

Quoting dric
{quote} Hi XT! Finally you're back! ----------------Regards, dric
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,451
  • Feb 8, 2014 12:03am Feb 8, 2014 12:03am
Quoting Ssm
Likewise in Gold, seems that we are also in a ranging mode. If 1268 broken and close above, we are still be resisted by 1272. Unless we can close above these levels, then I will be comfortable with the trend, if not, we might see price going back to the bottom range. If price goes back to bottom range 1248 to 1251. This is an area which I will be buying, which is also bottom of the upwards channel. Comments are welcome. {image}

AlWays TRUST in the CHANNEL or FORK... They will never fail in giving Guidelines as to WHAT TO DO. Yet, again GOLD IS A COMMODITY and NEWS is HEAVILY subjective to the trade of this Yellow Metal..

Your decision is already made for you. Trade accordingly.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,452
  • Feb 8, 2014 2:32am Feb 8, 2014 2:32am
Quoting XTrade
FINALLY - FINALLY Someone Ssm - POSTS a channel that is real for today's and the last MONTHS DATA AND TECHS. GREAT JOB. {quote}
Thank you XT Sir, just want to share my observation with the community.

Hopefully big boys reading this post will not play against it and lay more traps as a result. Pls give the community here a chance to make some small pocket money.
The true fact is market doesn't care, risk mgt is important.
  • #32,453
  • Feb 8, 2014 7:54am Feb 8, 2014 7:54am
Base on price distribution, currently gold play in range 1257.400 to 1274.617, if gold could stay above 1274.617 so 1286.864 will be the next resistant. And if gold could stay below 1257.400 so 1243.733 will be next Support.

DRT


http://i58.tinypic.com/23u3dah.png
  • #32,454
  • Edited 9:00am Feb 8, 2014 8:45am | Edited 9:00am
Gold Daily

I'm open long SL 1122 target 1335 medium term trade.
I note a sustained rebound with the potential of a double bottom which again only confirms on the breach of 1435 (so unconfirmed pattern)

I continue to note valid inverted H&S pattern.

GAP trade 1278 to 1305 continuation to final target where after 200 will become interesting.

R/R set but due to countertrend trade only risking 1% total capital, I'll add after the break of the 200

Attached Image (click to enlarge)
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  • #32,455
  • Feb 8, 2014 8:47am Feb 8, 2014 8:47am
Please all gold experts should help me. i want to know whether gold commodity movements is affected by news from china and australia??? Thanks in advance
  • #32,456
  • Feb 8, 2014 8:57am Feb 8, 2014 8:57am
An elementary question: why are the previous results for the non-farm payrolls not tallying to the actual results when viewed? If one goes to the home page of FF we see tabulated:

Actual Forecast Previous
Jan 10 2014 74K 196K 241K

Dec 06 2013 203K 180K 200K

Why isn't the December "Actual" figure 241K?
  • #32,457
  • Feb 8, 2014 9:02am Feb 8, 2014 9:02am
Quoting chuna1985
Please all gold experts should help me. i want to know whether gold commodity movements is affected by news from china and australia??? Thanks in advance
XAU Drivers of Price

  1. Demand
  2. Supply
  3. Global economy showing signs of high inflation
  4. Asian demand esp China and India (for jewellery)
  5. News does have a transient effect but it fades unless it affects the above

News for Gold
http://goldnews.bullionvault.com/

  • #32,458
  • Feb 8, 2014 9:05am Feb 8, 2014 9:05am
ssm thank you for charts. it seems next week silver will decide where to go.fistly price must break small channel ( 20,4 - 19,3)
  • #32,459
  • Feb 8, 2014 10:36am Feb 8, 2014 10:36am
Quoting chuna1985
Please all gold experts should help me. i want to know whether gold commodity movements is affected by news from china and australia??? Thanks in advance

YES!!

As China is still basically an emerging market, the sheer amount of people, as well as demand and production play a role, a slow down in the Chinese economy, especially when relating to industry and other items like new housing and unemployment (although Chinese data is not always accurate..) can cause a slowdown or rather a stall in the gold price.

AUSTRALIA - is a MAJOR Mining country/producer of GOLD and COPPER, silver is usually created as a byproduct of the other mining industries. It's global location makes it a key factor for China not only for the copper used in creating piping for new buildings, cars, etc., yet the GOLD the Chinese crave. A slow down again in the Chinese economy greatly hurts Australia's exports. Look at how the Chinese numbers affect the price of the Aussie Dollar. or AUD/USD

China May be now the largest producer of gold in the world, it is hard to get up to the day data on this issue, it usually is reflected from the year past.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,460
  • Feb 8, 2014 10:41am Feb 8, 2014 10:41am
You are forgetting ONE crucial and always underlying factor in the price of GOLD
which is

FUNDAMENTALS.

They are always there, may not be the driver, yet usually the leader behind any technical and news related movements.
Especially in a headline driven market like Gold.

News plays a big role as most of the releases that are pertinent carve out the underlying fundamental data or "considerations" such as unemployment over time.

I agree though - supply and demand are first and foremost for this metal as it is a leader in the commodities market all of which are heavily weighted on supply and demand as well as environment and other such conditions.


Quoting JimmyC
{quote} XAU Drivers of Price Demand Supply Global economy showing signs of high inflation Asian demand esp China and India (for jewellery) News does have a transient effect but it fades unless it affects the above News for Gold http://goldnews.bullionvault.com/
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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