XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1932 | Crypto Craft

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

  • #38,621
  • Nov 25, 2016 4:24pm Nov 25, 2016 4:24pm
Quoting headfake
Gold is going to start a decent correction next week (up)
Still too early to say, there's still no reversal signal.
  • #38,622
  • Nov 26, 2016 1:48am Nov 26, 2016 1:48am
Quoting headfake
Gold is going to start a decent correction next week (up)
Sentiment and crowd mentality seem to play an important part with gold, more than technical factors this week I'd say.

Lots has been made of the fact 1170 area is 61.8 fib retrace from top and bottom of the market in the last year, but who's to say the 61.8 line really matters?

All I can say is it might have been touched in the Asian session, but not in the western world trading hours, and the market has really been sideways Thursday and Friday, let's attribute that to Thanksgiving holiday.

1200 is approximately the 100hr SMA, 1210 is 200hr SMA, compared with current price 1184 Many seem to put great stake on where price is relative to those numbers and when price crosses through.

I have no particular expectation for the next few days, it could react fast to war and peace!
  • #38,623
  • Nov 26, 2016 2:26am Nov 26, 2016 2:26am
XAUUSD 8H Chart:
DOW topping out and GOLD basing?
I've been so busy with the DOW,
I almost overlooked the turn in GOLD.
Wave ii Correction over?
Looking for a Long entry.
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD 161126 8H [1].png Size: 58 KB
Wait, or you will be slaughtered!
  • #38,624
  • Nov 26, 2016 2:55am Nov 26, 2016 2:55am
Quoting Uturn2
XAUUSD 8H Chart: DOW topping out and GOLD basing? I've been so busy with the DOW, I almost overlooked the turn in GOLD. Wave ii Correction over? Looking for a Long entry. Cheers, U2 {image}
DOW:
Just read Ian Copsey's U.S. Index report.
The revised count indicates that there could be more to come on the DOW upside,
including corrections of course.
Cancelled my Pending DOW Shorts.
Time to focus on GOLD Longs............
Cheers, U2
Wait, or you will be slaughtered!
  • #38,625
  • Nov 26, 2016 8:07am Nov 26, 2016 8:07am
GOLD 8H and 1H Charts:
Pivot Zone 1184 - 86
Pending Longs 1183
Cheers, U2
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSD 161126 8H [2].png Size: 39 KB
Click to Enlarge Name: XAUUSD 161126 1H [1].png Size: 30 KB
Wait, or you will be slaughtered!
  • #38,626
  • Nov 26, 2016 8:18am Nov 26, 2016 8:18am
From Zero Hedge:
http://www.zerohedge.com/news/2016-1...rish-july-2015
Cheers, U2
Wait, or you will be slaughtered!
  • #38,627
  • Nov 26, 2016 2:01pm Nov 26, 2016 2:01pm
Quoting wiseambition
{quote} Sentiment and crowd mentality seem to play an important part with gold, more than technical factors this week I'd say. Lots has been made of the fact 1170 area is 61.8 fib retrace from top and bottom of the market in the last year, but who's to say the 61.8 line really matters? All I can say is it might have been touched in the Asian session, but not in the western world trading hours, and the market has really been sideways Thursday and Friday, let's attribute that to Thanksgiving holiday. 1200 is approximately the 100hr SMA, 1210 is 200hr...
Good points. I've been working on a few things that gives a heads up to corrections and reversals so I'm putting the correction out there let's see what happens.
Never said I was Batman,all I'm saying is you'll never see us together.
  • #38,628
  • Nov 26, 2016 2:34pm Nov 26, 2016 2:34pm
I've just eyeballed a silver chart, which is not a metal I have been interested in prior. Also traded like gold in USD.

It had a bad day Wednesday as did gold, but I notice it finished Friday higher than the lowest level it touched during the previous Friday.

Gold would have to have recovered to around 1210 to show proper correlation, but we know it closed the week about 25 points below that. (2% of the price)

I haven't done any mathematical (eg Fib) analysis whatsoever but it just interests me that gold has been hammered down but silver has shown a bit more resilience.

Perhaps this doesn't have any significance whatsoever, but it might be a straw the bulls would like to clutch at, in the hope gold will rebound.
  • #38,629
  • Nov 26, 2016 3:08pm Nov 26, 2016 3:08pm
Quoting Uturn2
GOLD 8H and 1H Charts: Pivot Zone 1184 - 86 Pending Longs 1183 Cheers, U2 {image} {image}
The good thing about base revs is that you will know pretty quickly if longs are good so you can have tight stops and great RR as they will BO with energy
Never said I was Batman,all I'm saying is you'll never see us together.
  • #38,630
  • Nov 26, 2016 3:37pm Nov 26, 2016 3:37pm
XAG has turned only once 1688.5 gets broken upwards anything else is fake trend up
  • #38,631
  • Nov 26, 2016 4:01pm Nov 26, 2016 4:01pm
Quoting Xag
XAG has turned only once 1688.5 gets broken upwards anything else is fake trend up
This depends on your timeframe as to what levels have to be broken for it to be considered a breakout

On the daily or weekly measurement, I'd say the resistance to be broken is 19.00

On H8 I'd go for 16.8

on H4 I'd say about the same

on H1 16.6
  • #38,632
  • Nov 27, 2016 1:30am Nov 27, 2016 1:30am
It will continue further down probably.
  • #38,633
  • Nov 27, 2016 2:34am Nov 27, 2016 2:34am
Quoting headfake
{quote} The good thing about base revs is that you will know pretty quickly if longs are good so you can have tight stops and great RR as they will BO with energy
Exactly.

Getting the Stop Loss to Break Even and letting it run.
Watching, waiting for the Higher Low to be confirmed.
The currency and GOLD concerns in India may be used as the reason for a rally or reversal.
I prefer to see it as a Wave ii Correction completing.
Remembering that Wave iii is the big money wave!
Cheers, U2
Wait, or you will be slaughtered!
  • #38,634
  • Edited 3:42am Nov 27, 2016 3:00am | Edited 3:42am
Uturn2,

in which time frame did you recognize an Impulse pattern?
The Big Picture of Gold shows that at the high of 2011 started a "ZigZag" pattern.
Here is a possible EW count based on the Long Term Delta count.

Sixer

Edit: Wave "B" (blue) could any corrective pattern, e.g. a-b-c-x-a-b-c
Attached Image (click to enlarge)
Click to Enlarge Name: Gold(D)-25.11.16.gif Size: 48 KB
  • #38,635
  • Nov 27, 2016 3:27am Nov 27, 2016 3:27am
XAUUSD 1H Chart:
Basing Pattern?
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD 161127 1H [1].png Size: 54 KB
Wait, or you will be slaughtered!
  • #38,636
  • Nov 27, 2016 3:48am Nov 27, 2016 3:48am
Quoting Sixer
Uturn2, in which time frame did you recognize an Impulse pattern? The Big Picture of Gold shows that at the high of 2011 started a "ZigZag" pattern. Here is a possible EW count based on the Long Term Delta count. Sixer {image}
Hi sixer,
XAUUSD MLY Chart:
If the Wave [ii] Blue correction is complete,
the Wave [iii] Blue minimum target is the 176.4%
projection of Wave [i] Blue at $1751.3
Wave [i] Blue being the first Impulse Wave,
of a 5 wave move.
This is Harmonic Elliott Wave Theory,
not traditional Elliott Wave.
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD 161127 MLY [1].png Size: 65 KB
Wait, or you will be slaughtered!
  • #38,637
  • Nov 27, 2016 7:32am Nov 27, 2016 7:32am
As it already broken 1192 up so it can do a bounce easily for 1202 or more up towards 1241 and as monthly candle, this bounce can be pending for next month if close around 1199 or better 1211. Pressure still substantial for more down towards 1100 so can easily finish first & try bounce at the eve of new year.I favor this little down till not . take care , fontu
Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4.png Size: 33 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #38,638
  • Nov 27, 2016 7:57am Nov 27, 2016 7:57am
ok silver has gone much lower than I thought ,still as we get lower the probability goes to bulls ,this zone is important
on the 6 month chart not one such candle failed outright the low (year open ) is super strong ,but having said that so the high now
i notice bit of a pattern w1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1- 6 month Spot Silver (DFB).png Size: 22 KB
Click to Enlarge Name: 1 w1 Spot Silver (DFB).png Size: 34 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #38,639
  • Nov 27, 2016 8:03am Nov 27, 2016 8:03am
those that think long term ,not those that just say its bearish no idea
bears have much to do
this candle will print
Attached Image (click to enlarge)
Click to Enlarge Name: Spot Silver (DFB).png Size: 16 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #38,640
  • Nov 27, 2016 12:18pm Nov 27, 2016 12:18pm
gold w1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 106 KB
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