XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
DislikedIt was over 20 and I closed it down with a small profit. But it was a horrible exercise. The stress caused my back to seize. Closed it out took a bunch of muscle relaxants and JUST woke up. WOW. Glad I bailed. Gold is doing very well.
But is this the double top? Or just the start?Ignored
Dislikedthis is why no one makes money in forex. gold makes a new high and everyone is looking to short it.
There is no bearish signal on the graph and absolutely no reason to sell it let alone go short.Ignored
DislikedAu is looking resilient. I have set a sell for 1222.2 going into possible resistance levels. Weekly and Daily look overbought and it is near record high of 1227 so hoping lots of talk of possible major double top will slap this down hard. It is also my long term channel top. It poked its head up twice and 1222 will again be above upper channel limit. Seasonals also on side and so is the timing of the Au supercycles.
Looking for this to go to 1165 (18DMA) as TP.
SL - if there is news i may cut 1224 or may add short at 1236 (large day range, frothy...Ignored
DislikedComex gold futures Tuesday afternoon hit a new all-time record high of $1,232.50 an ounce. The previous record high of $1,227.50, basis nearby futures, was set in December of 2009. Gold continues to benefit from safe-haven buying interest amid the European Union's sovereign debt crisis, and on building bullish technical momentum. With gold prices now in uncharted territory, traders should look for higher volatility both on the upside and on the downside, but with a continued upside bias.Ignored
Disliked1250 end point before fallIgnored