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

  • #34,181
  • Apr 20, 2015 8:27am Apr 20, 2015 8:27am
Quoting Karpa
Gold is pretty oversold now do u thuink it go lower today

On a bounce at 1190, watch out for bullish price action.
  • #34,182
  • Apr 20, 2015 8:36am Apr 20, 2015 8:36am
Quoting mamalujo
{quote} On a bounce at 1190, watch out for bullish price action.
I am thanks
MAs say down but RSI says oversold..
  • #34,183
  • Apr 20, 2015 9:05am Apr 20, 2015 9:05am
Oversold/Overbought readings by themselves are never a reason to make a trade.

Readings can many times stay extreme longer than you can stay in the trade.
  • #34,184
  • Apr 20, 2015 9:21am Apr 20, 2015 9:21am
Quoting SunTrader
Oversold/Overbought readings by themselves are never a reason to make a trade. Readings can many times stay extreme longer than you can stay in the trade.
agree, and its often some of the best parts of the trend imo, almost no matter what indicator.
  • #34,185
  • Apr 20, 2015 9:24am Apr 20, 2015 9:24am
Quoting Karpa
{quote} I am thanks MAs say down but RSI says oversold..
well, my trades are based on PA, S/R,TL, fibonacci retracements and sometimes 200sma
  • #34,186
  • Apr 20, 2015 9:28am Apr 20, 2015 9:28am
Quoting SunTrader
Oversold/Overbought readings by themselves are never a reason to make a trade. Readings can many times stay extreme longer than you can stay in the trade.
Quoting alayinizAMK
{quote} agree, and its often some of the best parts of the trend imo, almost no matter what indicator.
Thanks
  • #34,187
  • Apr 20, 2015 9:50am Apr 20, 2015 9:50am
Near term Gold is clearly stuck in the 1179-1225 range. The next major cluster is 1225-51 up to 67 where the upper limits are descending in the channels shown.
Looking at the magnetic lines chart; the lower cluster is 1147-79 and if 1147 gives away which is the white line; gold can be crushed even further. Without going into much details the magnetic lines are very precise and if you have a few of them near one another; will have a strong S/R.
If 1100 breaks; strong support at 1080-90 & 1050-60
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  • #34,188
  • Edited 11:22am Apr 20, 2015 11:05am | Edited 11:22am
Quoting mamalujo
{quote} well, my trades are based on PA, S/R,TL, fibonacci retracements and sometimes 200sma
I trade emas for direction and s/r/fibos for entrys
have rsi too for divergence but now i got this shiny new rsi mtf that's nagging my sell..
I'll wait and see what happens next. Waiting is free
  • #34,189
  • Apr 21, 2015 3:03pm Apr 21, 2015 3:03pm
It appears Gold is getting ready to break out soon. As in the next couple of weeks.

Reason I say this is Bollinger Bands width is narrowest in almost a year.
  • #34,190
  • Apr 21, 2015 5:07pm Apr 21, 2015 5:07pm
What's up with all the Gaps?
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #34,191
  • Apr 21, 2015 5:11pm Apr 21, 2015 5:11pm
You're looking at a 3min chart during the overnight slow trading hours, that's why.

But actually my 3min chart doesn't have any. So it must be your broker's data that is screwy.
  • #34,192
  • Apr 21, 2015 5:37pm Apr 21, 2015 5:37pm
timingcharts.com has similar charts
A trade should be based on an assumption based on facts
  • #34,193
  • Apr 21, 2015 6:03pm Apr 21, 2015 6:03pm
Don't know what else to say because I have a stray one or two but nothing unusual for the time of night:
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  • #34,194
  • Apr 21, 2015 6:20pm Apr 21, 2015 6:20pm
correct reasons, screwed up data. every illiquid currency pair moves similarly.
A trade should be based on an assumption based on facts
  • #34,195
  • Edited 9:15pm Apr 21, 2015 8:10pm | Edited 9:15pm
I have to go with bias still to the downside until proven wrong
both primary and secondary trend continue to push south from 1235 area
the monthly is down from 1224
weekly and wed daily down from 1200-02
Silver
Move to 15.85 area noted, eyes on 16.11 response wed
  • #34,196
  • Apr 22, 2015 5:57am Apr 22, 2015 5:57am
come oooonn
  • #34,197
  • Apr 22, 2015 7:18am Apr 22, 2015 7:18am
Quoting SunTrader
It appears Gold is getting ready to break out soon. As in the next couple of weeks. Reason I say this is Bollinger Bands width is narrowest in almost a year.
Although it may be premature to say but it looks to be starting.
  • #34,198
  • Apr 22, 2015 8:35am Apr 22, 2015 8:35am
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  • #34,199
  • Edited 12:10pm Apr 22, 2015 11:57am | Edited 12:10pm
long @ 1187 tp 1194 sl-1182
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Learn THEN Unlearn
  • #34,200
  • Apr 22, 2015 12:09pm Apr 22, 2015 12:09pm
Quoting HighFivve
long @ 1187 tp 1194 sl-1185 {image}
my opinion gold will touch 1177 before it reaches 1194 it seems you bought in the middle of the down move

you're on live or demo ?
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