Ok you are saying they tend to move together but you don't know why. As I said it doesn't follow they are directly related. Gold goes up because oil goes up - they may both be directly related to a common factor. Mr Smith and Jones both get up in ...

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

I think you might be referring to me. Even if it isn't, I'll reply. I said there was a link between the dollar index and gold because gold is priced in dollars. The absolute value of gold kind of remains static, so as the value of the dollar goes ...

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

Hey beeb what do you think of the new 5 minute fork. Price did not quite get down to 1474.5 but for a fork with ABC from months ago to be out by less than $5 is not bad. As I thought price would drift out right and I've drawn a new fork. It is steep ...

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

Yes as beeb pointed out this is not a "true" fork it is an action/reaction set up. I've seen standard forks, modified Schiff and Schiff. There is also one that the poster who started the fork thread here uses which is different again. If price is ...

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

Then you need to try a modified Schiff. you have a standard Andrew's fork which is often too steep. So take the point A of your fork and slide it up towards point B. Also move it to the big bearish bar a couple of bars previous to the one you have ...

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

Yeah tell me about it! I have a big computer screen and put a perspex ruler on the screen and I'm fiddling with the mouse to line it up! we will see if it is right - price has just gone up on the 5 minute chart and then it will start the down move ...

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

No - The B (around 1440) & C (around 1300) are as in the image. If your platform does a modified Schiff great otherwise you draw a line connecting point A to point B. Then halfway along this line you move the point A of the fork. This makes the fork ...

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

well I am glad to see you have applied the technique. The issue with these is drawing them is an art and I have not mastered that art but I get better. Need to do lower and higher timeframes and check all of them. For a daily chart you should have a ...

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

Looks like it is running true to the fork and would likely reach target this afternoon - my fork says $1474.5. I have a 5 minute fork and it is bouncing down between the upper parallel and the median line. The first fork is 5minute the next is 4H.

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

I found a fork I had drawn on the daily. Lower parallel would line up around 1475 if price got down to it. Seems likely although 1490 has rejected price twice on the 1H chart right now. That BEOB worked, it cracked 1500 and the lower end of the bar ...

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

closed my long in gold at 1504.5 - it had been running up a trendline but then walked out. At the moment it could go either way for me and so better out.

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

XTrade There was a webinar on the James16 private site last night where Mike was talking about USD/NOK. Personally the way it is set up on my platform it is too rich for me and could blow an account fast if it went against you even slightly. On the ...

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

After going long and having a small profit on the day it got blown away pretty damn fast. Hmmm I am long again from the bottom - here goes again. This is a bearish outside bar on the daily. One of the James16 PA bars. However as a bar to trade short ...

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

I presume that price has been steadily moving higher in beeb's modified Schiff fork, it certainly has on my "primitive fork" and has been having higher highs and higher lows within the fork. It has moved outside the upper parallel earlier today. It ...

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

Are you saying you believe price will go down? You have a chart with bands on it which seem to be indicating the likelihood in your mind of price retracing to these levels. The most probable appears to lie between 1530 and 1460. There is a section ...

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

Well depends on how much oil is traded speculatively and how much is traded for end users/hedging. Is price dependant on supply/consumption or supply/speculation? My guess is a lot of it is traded for end consumption. The oil will be delivered, ...

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

Not sure what all this is about. When there is a decent trend in place you trade with it. If you make a mistake the trend will usually come to rescue you, trade against the trend it could well bury you. That people should trade against the direction ...

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

I think you should have had something about time zone. If you are on the west coast you will have to wake up much earlier than someone in London.

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

$26.30?? Think that a bit of a long shot.

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

Gold's price certainly seems to be bouncing around the red fork (beeb's black) and my green fork (action reaction setup). This margin business with gold doesn't make any logical sense. Gold is not an overheated market. Price has certainly not been ...

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