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

  • #37,841
  • Oct 7, 2016 11:50am Oct 7, 2016 11:50am
http://www.zerohedge.com/news/2016-1...n-under-minute
See what we are up against!
Cheers, U2
Wait, or you will be slaughtered!
  • #37,842
  • Oct 7, 2016 11:50am Oct 7, 2016 11:50am
Quoting jpwtrading
my view: H4 and DAY charts, but not going long {image} {image}
went long after all at 1252.74
Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4.png Size: 34 KB
  • #37,843
  • Oct 7, 2016 12:21pm Oct 7, 2016 12:21pm
Quoting jpwtrading
{quote} think i am going to wait for a pull back and then short, there is nice divergence building on the h4 chart
Thou hast seen well (Jeremiah 1:12)
  • #37,844
  • Oct 7, 2016 7:09pm Oct 7, 2016 7:09pm
Quoting eaglestar
Andrews Pitchfork Daily shows first target is 1260 area {image}
Called it! As price goes away from a median line it has an 80% chance of getting to next line. Price as of today 1251.9 will show updated chart later.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #37,845
  • Oct 8, 2016 12:52am Oct 8, 2016 12:52am
As per -- Jim Grant:. . “To me the gold price takes the form of a very uncomplicated formula, and all you have to do is divide one by ‘n.’ And ‘n’, I’m glad you ask, ‘n’ is the world’s trust in the institution of paper money and in the capacity of people like Ben Bernanke to manage it. So the smaller ‘n’, the bigger the price. One divided by a receding number is the definition of a bull market.".
  • #37,846
  • Oct 8, 2016 3:30am Oct 8, 2016 3:30am
XAUUSD 6H and 12H Charts:
Looks like we have an upturn forming.
Stops [Sellers] have been run in the Bargain Basement!
The big question: Is the correction over?
Cheers, U2
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSD 161008 12H [1].png Size: 69 KB
Click to Enlarge Name: XAUUSD 161008 6H [1].png Size: 50 KB
Wait, or you will be slaughtered!
  • #37,847
  • Oct 8, 2016 6:26am Oct 8, 2016 6:26am
Quoting instant
As per -- Jim Grant:. . To me the gold price takes the form of a very uncomplicated formula, and all you have to do is divide one by n. And n, Im glad you ask, n is the worlds trust in the institution of paper money and in the capacity of people like Ben Bernanke to manage it. So the smaller n, the bigger the price. One divided by a receding number is the definition of a bull market.".
He needs a new formula. That one hasn't work as the price of gold continues declining along with confidence in paper money.

And as long as there are believers long term price won't rebound.
  • #37,848
  • Oct 8, 2016 6:34am Oct 8, 2016 6:34am
I am not founding any silver analysis, anyone share please............

Though silver looks like heading towards to 15.80 within next 3 days.
Nobody Knows the Next move!!
  • #37,849
  • Edited 8:53am Oct 8, 2016 6:45am | Edited 8:53am
Quoting saadan
Hello Friends. Just to show you that gold is enough for trading. Not need to trade currencies. {image}
Thanks saadan! I needed reminding that it's not that complicated!
Cheers, U2
Wait, or you will be slaughtered!
  • #37,850
  • Oct 8, 2016 6:55am Oct 8, 2016 6:55am
Quoting rocket00
I am not founding any silver analysis, anyone share please............ Though silver looks like heading towards to 15.80 within next 3 days.
XAGUSD 6H Chart:
Looks like it's based,
and stronger than GOLD?
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: Silver 161008 6H [1].png Size: 58 KB
Wait, or you will be slaughtered!
  • #37,851
  • Oct 8, 2016 8:21am Oct 8, 2016 8:21am
I am waiting to gold visit 1200
WaBaS Where are Buyers and Sellers
  • #37,852
  • Oct 8, 2016 8:38am Oct 8, 2016 8:38am
I stay away from gold as China comes back from week long holiday. Will watch what direction it taken and enter when it is decided.
  • #37,853
  • Oct 8, 2016 9:12am Oct 8, 2016 9:12am
1246.96 and 1240 are critical levels for gold, if gold breaks these levels and it looks like it is in waterfall decline mode the next target on the downside is 1181.99 as my expected low for late December 2016 or Jan 2017
  • #37,854
  • Oct 8, 2016 1:06pm Oct 8, 2016 1:06pm
Quoting Uturn2
XAUUSD 6H and 12H Charts: Looks like we have an upturn forming. Stops [Sellers] have been run in the Bargain Basement! The big question: Is the correction over? Cheers, U2 {image} {image}
My 2 Cs...

Correction is still in early stages of forming.. I would hate to jump into it now, so I will need to see the first impulse first and may be I will join its correction although I think we already seen the first impulse during the last 5 hours of trading on Friday. I say we keep watching the shape of the coming correction structures..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #37,855
  • Oct 9, 2016 2:32am Oct 9, 2016 2:32am
Quoting baherhosni
{quote} My 2 Cs... Correction is still in early stages of forming.. I would hate to jump into it now, so I will need to see the first impulse first and may be I will join its correction although I think we already seen the first impulse during the last 5 hours of trading on Friday. I say we keep watching the shape of the coming correction structures..
Hi Baher, I can count 5 waves down in a wave c,
however the 5th wave is very shallow [probably too shallow].

Inserted Video

WaveTrading says there's one more low [in wave v] to come [4.47]
Cheers, U2
Wait, or you will be slaughtered!
  • #37,856
  • Oct 9, 2016 7:11am Oct 9, 2016 7:11am
Quoting Uturn2
{quote} Hi Baher, I can count 5 waves down in a wave c, however the 5th wave is very shallow [probably too shallow]. https://www.youtube.com/watch?v=48qSzoQngLk WaveTrading says there's one more low [in wave v] to come [4.47] Cheers, U2

Yeah.. from that analysis, it seems there is a higher v that needs to be played south..

BUT, there is this iv that we can scalp if we can catch it

But then, if we can't then we take the train down to (v) looking for best possible R:R

That is what I intent to look for..

What do you say?
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #37,857
  • Edited 8:10am Oct 9, 2016 7:48am | Edited 8:10am
Quoting baherhosni
{quote} Yeah.. from that analysis, it seems there is a higher v that needs to be played south.. BUT, there is this iv that we can scalp if we can catch it But then, if we can't then we take the train down to (v) looking for best possible R:R That is what I intent to look for.. What do you say?

Been working on it and have a much better count.
It looks like wave iii was the low at 1241.45,
and now loading up for wave iv.
Wave iii was very close to the 223.6% projection of wave i.
The alternation between waves ii and iv should be around ~100% to ~120%
[adding the retracements].
I've selected possible targets from the spreadsheet for wave iv and wave v.
My MAs and PA are signalling a base rather than a minor correction,
which would agree with this being the start of wave iv.
I have placed a Pending Order Long. TP 1275.
Yes, then wave v down, if all goes to plan.
Anyway, with this count I feel more confident trading this Long.
Will watch for it to run out of steam around 1275-80.
Cheers, U2
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSD 161009 6H [1].png Size: 28 KB
Click to Enlarge Name: XAUUSD 161009 XL [1].png Size: 39 KB
Wait, or you will be slaughtered!
  • #37,858
  • Oct 9, 2016 8:04am Oct 9, 2016 8:04am
Quoting Uturn2
{quote} Been working on it and have a much better count. It looks like wave iii was the low at 1241.45, and now loading up for wave iv. Wave iii was very close to the 223.6% projection of wave i. The alternation between waves ii and iv should be around ~100 to ~120% [adding the retracements]. I've selected possible targets from the spreadsheet for wave iv and wave v. My MAs and PA are signalling a base rather than a minor correction, which would agree with this being the start of wave iv. I have placed a Pending Order Long. TP 1275. Yes, then wave...
Have you considered what would happen to the HEW projections if you place waves i and ii where you have your a and b?
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #37,859
  • Oct 9, 2016 8:44am Oct 9, 2016 8:44am
Quoting baherhosni
{quote} Have you considered what would happen to the HEW projections if you place waves i and ii where you have your a and b?
That's where I started with waves i and ii.
However, I couldn't get a valid HEW wave iii down.
If that is the count, the wave iv retracement comes out much higher,
and also the wave v projection. [refer spreadsheet]
[I'll receive a HEW WLY FX & Metals update on Tuesday.
Until then, I'll watch for it to run out of steam ~1275-80.]
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD 161009 XL [2].png Size: 35 KB
Wait, or you will be slaughtered!
  • #37,860
  • Edited 10:51am Oct 9, 2016 10:32am | Edited 10:51am
I came across the following in my files.
I highlighted my favorite sentence.
Cheers, U2

From Jed and Kirk Norwood:
If you follow your indicators, and trade the way you read the market,
then you will be in the minority.
For every winner there are nine losers.
That is why the winners win so big,
and the losers keep on doing what they do, and keep on losing.
Then they still wonder what is happening to them,
and why they can not make money in the market.
I use all of this noise as a heads up to check my indicators,
get my own reading on the market, then make my own decision.
The more noise I hear that the market is going in a certain direction,
the harder I look at my indicators, and make sure I know what my signals are telling me.
It takes time to learn to be in tune with the market, but once you find the connection,
you will be more relaxed and patient, waiting for the market to tell you what to do.
It is at this point that you will start to make the big bucks.
The market is a lonely business, so you have to find a balance between being alone,
and whom you talk to about the market.
Find some like-minded traders and help each other grow and trade wisely.
You will also find that once you are steady in your trading,
there will be many people wanting to get your advice on the market.
When you tell them you do not know what the market is going to do,
they wonder why you cannot look into your crystal ball and give them advice.
Well it is because the market is not telling you right then what it is going to do.
At this point I let them know that my indicators are not set up yet,
so I am calmly waiting for the proper signal.
Study, have fun trading and prosper.
Wait, or you will be slaughtered!
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