You should only make trades you believe in, so try not to get caught up in hindsight thinking else you'll drive yourself insane (and likely make bad trades) thinking about all the money you could have made "if only". There are plenty of other things ...

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

Thank you, I shall check it out. I really only use NetDania for posting charts here as my own charts have far too many lines on them to make sense to anyone other than myself. It would be nice, however, to have a secondary charting system that saves ...

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

I don't like the lack of a definitive bottom either. A "good" bottom or top requires either a retest of that level or price action jumps like a started cat leaving a shooting star candle.

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

The week is not quite over but you can see gold is near the intersection of longer bear and bull channels (read and blue respectively). Weekly RSI indicated a break in bearish trend the first week of July but has not yet crossed over the 50 line. ...

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

It's a bit late in the day, but here's what I'm looking at hourly for gold. As I post this gold is sitting at R1 and the approximate intersection (NetDania charts aren't accurate across time frames) of the minor bull (light blue) and bear (pink) ...

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

Not gold or silver specific, but a good article about being wary of letting emotions get overtake reason when trading. url

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

Ben from Coghlan Capital (previously known here on Forex Factory as "beeb") sent me this chart of EUR/AUD. Ben trades very successfully using strictly forks and associated parallels and will have an open webinar on his trading technique on August ...

Davit's Confluence Trading

I must be tired ...I forgot to include the daily chart I'm working with and what I wrote before isn't very clear. I need to see the 23.6% 0.925-0.930 range cleared for me to go long with AUD/USD even though the bear channel it was trading in has ...

Davit's Confluence Trading

I prefer range trading as well, which is why I'm interested in EUR/AUD as it's trading within a well defined bull channel. [edit: (I hit "save" instead of "preview" before I was done)] AUD/USD-wise I agree there should be more upside to this pair ...

Davit's Confluence Trading

1.50 is still 4.5¢ up from here: That's $950 per lot between here and there. With channel support so close, risk/reward favours range trading with the presumption that this bull channel holds.

Davit's Confluence Trading

I haven't posted in a while (nor have I done much trading since March despite this being my occupation) but I thought I should get back to posting as it forces me to concentrate on my trades. Back in March I'd made a note to buy EUR/AUD just before ...

Davit's Confluence Trading

That was the channel I was using. Now it's a question of if gold will follow either this red or purple bear channels or if it has dropped to a lower bullish parallel because, for me, I still want to see the daily RSI trendline dating back to ...

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

Using that same chart I'd suggest that gold is trending in the bull channel you've drawn and the the drop to $1285 was a false break down, particularly since there is only shadow and no candlestick body crossing the channel's rising support line. ...

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

Not something to gamble on necessarily, but when you see a significant move the night before a data release that is frequently a set-up for a reversal. For example, last night the Yen pairs rose and the Euro and metals fell, then in a flash, all was ...

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

Also, there's this possible Eliot Wave(ish) scenario: image

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

Here's an example of getting caught up in directional bias. I can see on my daily chart that gold has stopped at the 38.2% (blue Fibonacci) and the hourly 61.8% extension from the prior completed swing down (black Fibonacci) and it's on the hourly ...

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

Old-school technical traders will insist upon long-term charts using a logarithmic scale, and there's some that have appeared on BNN that whose opinions I genuinely respect, but I must confess that I've never seen the value when it comes to ...

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

I agree, they certainly move together normally, but they're in strange places relative to each other right now. With silver below $20 (a personal bearish barometer that I use), and daily silver RSI dropping back below support, I'm looking Southward ...

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

When I first started trading futures it was during a period of currency correlation, particularly USD/AUD and EUR/USD. Unfortunately, that correlation was short lived and upon further investigation the notion that there is a correlation between gold ...

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

I think you need to re-read what I posted because it's not a very good example for demonstrating your point which I agree with in principle. You've been in this forum long enough to know that I made more money shorting gold than I did going long, ...

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