It was just pointed out to me the very bullish weekly US$ index candle so a continuation may very well be likely.

Davit's Confluence Trading

Though I'm not a huge believer in Eliot Waves (but neither do I discount them), your argument is sound with the exception that neither the US dollar or any currency has any useful generalized correlation to gold. I think XTrade posted links to ...

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

Yes, and I'm thinking now that's not the best stop as I have I have a marvellous talent for choosing the precise actual top or bottom of a move for placing a stop and be needlessly stopped out to the pip. ...though I haven't completely ruled out the ...

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

I noticed after the US Dollar Index hit 80.80 there was a cycling through the US$ crosses to bring them all near, but not to, their respective support and resistance targets. First Euro, then Pound, then Yen, then Aussie, then Kiwi, then Loonie. ...

Davit's Confluence Trading

USD/CAD has been very well behaved, generally. The only snag at the moment is hitting that descending support line. Right now it's halfway between support and resistance so I need to wait for it to decide which way it's going first. If it should ...

Davit's Confluence Trading

Draw some trend lines on those momentum indicators. It looks like at or near support to me.

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

Wise words. I normally don't enter new trades after 10 a.m. EST (with certain economic calendar based exceptions) and doubly so on a Friday, but after such large moves I can't help but wait to see if an across-the-board reversal occurs since I'm ...

Davit's Confluence Trading

Gold stopped at my preferred entry point of $1,306 so I have entered long. 8-hour RSI has hit support, though technically it needs a minor move down in this time period or at least a move sideways in the next to have hit the trend-line since it is ...

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

US Dollar Index hit resistance at 80.8 and it's going to take another big manipulative push to break above. EUR/USD, Cable, AUD/USD, and NZD/USD are all very close to support and USD/YEN very close to resistance. All movement has effectively stopped ...

Davit's Confluence Trading

I find it hard to believe that professional traders responsible for shifting millions and billions and sometimes trillions in assorted currencies would make orders based on anything other than market data or announcements which involve actual plans. ...

Davit's Confluence Trading

Cable has broken support and should be heading to 1.58950 for a 100% retrace like EUR/USD, but both pairs are sitting at hourly RSI support in oversold so I can't add a short from this position yet I don't have strong confidence that there will be a ...

Davit's Confluence Trading

I located $1,310. It's consolidation support following the prior move up and the base of the current move up. It's also a 100% extension down from the base of this current consolidation zone now that the range has been broken and we can take it's ...

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

The non-data, non-news based drop in the Euro and Pound at German? (it's a holiday in France and Italy) open (Yen and minors were relatively unfazed) placed EUR/NZD just above the 76.4% retracement. Daily RSI suggests the move will continue down to ...

Davit's Confluence Trading

If you place stock in the opinion of the Bank of America, they have placed buy orders at $1,310 with a stop at $1,251 and a target of $1,450 with a further target of $1,500 - $1,533. Giving actual entry, stop, and targets rather than generic "gold ...

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

Current bull fractal range updated. I would expect the range to become invalidated once the upper 27% extension is reached. Time-wise it looks like it will happen near London open which, coincidentally, being the largest gold market in the world, is ...

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

I'm not at my trading computer at the moment so I don't know if those are targets I would look for or not. All I can tell you is I've had significant success targeting 27% Fibonacci extensions. Primarily I look for confluence with Fibonacci, ...

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

Shorting based on 4-hour Bollinger I understand, but the move based on the chart you posted has been bullish. Gold rose $250 from your pitchfork support and again as it rose $100 from the pitchfork median and now you're looking for it to rise ...

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

Bollinger bands are the displaced moving averages you see in Scutty007's chart. As for the Euro, EUR/USD having failed to hold 1.365, the next target down is 1.3475 and I am relatively comfortable shorting all Euro crosses at this point though I am ...

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

Hallowe'en was rained out here. There should be a standard rain-day for when this happens. Though my EUR/USD call failed (next target is the 100% retracement and rising trend-line support at 1.34725), GBP/USD, AUD/USD, and NZD/USD have held this ...

Davit's Confluence Trading

Your Bollinger bands indicate the start of the last move up -- do you have a target or just hold long until a reversal is indicated?

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