XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #33,382
- Edited 2:13pm Apr 4, 2014 1:38pm | Edited 2:13pm
- | Additional Username | Joined Apr 2014 | 1,312 Posts
{quote} out @1303.xx
i've 4 short atm , will ad more
= http://screencast.com/t/FrisBjX45mkhttp://screencast.com/t/cEkSCu6Cw7C
- #33,387
- Edited 10:00am Apr 5, 2014 8:03am | Edited 10:00am
{quote} ======================================= i've 4 short atm , will ad more
Do you feel confident about these pips777? What was the reason you opened short at these levels? I think your good for a breakeven on the two upper Shorts, but the lower two i fear they may already lost and unable to go back in to profit or claw for breakeven in the short term.
Heres what Im looking at for Gold/USD early next week, this is just my opinion, and im open to some critique ....
Price is showing new H4 highs showing good support for buyers. Technically, we have two potential left shoulders in a bullish crown formation, I would look to buy at 1290. This is sat in a good supply area of previous support and would hold significant buy orders to push the price higher, also it was the previous days Pivot level, therefore creating the right shoulder and a push north from there. The confluence in price/fibonacci levels for our entry and exit is amazing.
TP - looking for 161.8 extension @ 1325/1326 in the short term. An entry at 1290, would provide a nice tight stop at 1280, under the most previous swing lows, providing a good money management trade.
Silver/GBP
Pretty much the same but we saw the retrace end of Fridays session. Taking Longs @ 12.00 to 12.04 then Longs again at next resistance becomes support at 12.19. TP targets of 12.40 in the short term. With an entry at 12.00/12.04 this would provide a stop of 11.84 under recent swing lows, again providing an excellent risk/reward ratio on this trade. Im Long at 12.07 as of Friday afternoon. I mean my entry was not spot on but the risk/reward is on par with what id look for in a good trade and was sat at previous resistance becoming support.
- #33,389
- Apr 5, 2014 11:19am Apr 5, 2014 11:19am
- | Joined Aug 2012 | Status: Trader | 2,263 Posts
A 1 pip gain is better than a 1 pip loss.
- #33,390
- Apr 5, 2014 1:36pm Apr 5, 2014 1:36pm
- | Joined Jul 2013 | Status: Trader | 1,494 Posts
{quote} ======================================= i've 4 short atm , will ad more
A trade should be based on an assumption based on facts
- #33,391
- Apr 5, 2014 1:40pm Apr 5, 2014 1:40pm
- | Joined Jul 2013 | Status: Trader | 1,494 Posts
{quote}
http://prntscr.com/
A trade should be based on an assumption based on facts
- #33,392
- Apr 5, 2014 1:43pm Apr 5, 2014 1:43pm
- | Joined Jul 2013 | Status: Trader | 1,494 Posts
A trade should be based on an assumption based on facts
- #33,394
- Apr 5, 2014 4:40pm Apr 5, 2014 4:40pm
- Joined Jun 2013 | Status: Poor Man | 1,085 Posts
Bat pattern
This pattern is valid when price respects and bounces off of the XA swing high swing low to form point B at the 38.2% or 50% Fibonacci retracement levels (but not more than 61.8%). The target of point D is in fact using the same XA swing high swing low and is aiming for the 88.6% Fibonacci retracement level of XA. The CD leg is therefore longer than the AB leg.
Trade safely and
Believe in Go(l)d
This pattern is valid when price respects and bounces off of the XA swing high swing low to form point B at the 38.2% or 50% Fibonacci retracement levels (but not more than 61.8%). The target of point D is in fact using the same XA swing high swing low and is aiming for the 88.6% Fibonacci retracement level of XA. The CD leg is therefore longer than the AB leg.
Trade safely and
Believe in Go(l)d
The good thing with the future is that it is progressively approaching...
- #33,396
- Apr 6, 2014 2:50am Apr 6, 2014 2:50am
- Joined Jun 2013 | Status: Poor Man | 1,085 Posts
The good thing with the future is that it is progressively approaching...
- #33,398
- Edited 8:11am Apr 6, 2014 7:55am | Edited 8:11am
- | Joined Jul 2013 | Status: Trader | 1,494 Posts
{quote} Long term in a bear and im with you in Gold seeing lower than 1200 even 1100 this year, but this correction shouldnt be just a 1 week thing, ill post my chart in a bizzle, my sentiment on silver compliments my sentiment on Gold. Im bullish for the time being because i want to try and make some money today rather than in 3 months, so i need to know where price is going today. In a H1/H4 uptrend you should draw Fibonacci in the direction of the most recent A low/b High.
That means there were not enough bears. So, the market was taken over by bulls, like me, no one could see it coming
, and a lot of intent was shown when the price pushed through 1360 but as it turns out, not enough bulls, again 
at which point we retrace looking for some more power which may come at 1262/35 (35 would be nice) to push through the levels and by levels i don't mean 1430, because, remember, not enough bulls found at that level and that brings me to the current scenario where again we cannot find enough bulls anywhere and the bears are dormant. What happens now is anyone's guess, NOTHING. We wait for the retrace to complete at 1262/35 and tear down the bears in a bloody fight and get comfortable at ~1500 to get ambushed by the second coming of bears and the thing about second comings is, they are stronger, so we go down, low to the pits of whatever it is.I'm bored now.
You're right about Fibonacci, i got confused with the extensions.
The one thing that is very wrong about what i said above is, PEOPLE dumped 104000+ contracts in last two weeks
A trade should be based on an assumption based on facts
- #33,399
- Apr 6, 2014 11:45pm Apr 6, 2014 11:45pm
- | Joined Jul 2013 | Status: Trader | 1,494 Posts
A trade should be based on an assumption based on facts
- #33,400
- Apr 7, 2014 2:06am Apr 7, 2014 2:06am
- Joined Jun 2013 | Status: Poor Man | 1,085 Posts
TF 1 hour...closed below 20Ma
Looking south
Trade safely and
believe in go(l)d
Looking south
Trade safely and
believe in go(l)d
The good thing with the future is that it is progressively approaching...