XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 889 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD, Silver/USD

Similar Threads

Gold futures & XAU 78 replies

GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies

Daytrade - XAU/USD & XAG/USD 14 replies

XAU/JPY & XAG/JPY 13 replies

Successful XAU/USD traders 7 replies

Attachments: XAU/USD & XAG/USD - Gold & Silver Traders Thread
Exit Attachments

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

  • #17,761
  • Mar 15, 2012 8:45pm Mar 15, 2012 8:45pm
Quoting SunTrader
Thursday's daily bar was an inside day. Watch to see if Friday signals what early next week's direction might be.
hey SunT

i never actually took much in about inside days, but one thing about outside days is to look at them as 'gaps' and they are often respected.

so whats inside bars to you?
if u wanna share of course
Have I got something on my face, SOLDIER?
  • #17,762
  • Mar 15, 2012 8:47pm Mar 15, 2012 8:47pm
1672 is what i think a good target for longs - mine, and a possible minor top like the 161.8 extension.

261.8 extension of a small wave, 1st target reactive, i expect the second to be much so.

5m chart btw based on the daily square 1700 is the target to be tested. a whole load of empty space as well - path of least resistance is the path price will folllow
Attached Image (click to enlarge)
Click to Enlarge Name: gold_target_.png Size: 20 KB
Have I got something on my face, SOLDIER?
  • #17,763
  • Mar 15, 2012 9:29pm Mar 15, 2012 9:29pm
Attached Image (click to enlarge)
Click to Enlarge Name: silver1hr.jpg Size: 228 KB


32 would have been a good entry, looks steady here. For anyone that has an idea about VSA, the green volume bars strongly support this area. Expect prices to ride smoothly higher at the moment.
Skype: heliosphan187
  • #17,764
  • Mar 15, 2012 10:02pm Mar 15, 2012 10:02pm
Attached Image (click to enlarge)
Click to Enlarge Name: gold2.jpg Size: 216 KB


similar chart on gold, with the green buying volume spread bar supporting current price trajectory.
Skype: heliosphan187
  • #17,765
  • Mar 15, 2012 10:02pm Mar 15, 2012 10:02pm
Hi all,

Here's my take. RSI in D1 is approaching the 30 level, which has been telling in the recent past. See this area in the range of 1620-1660.

Bounced off 23.6 fib and looks set to test 38.2 where the 200MA and 1680 pivot lie in waiting. Will be watching PA when it gets to that level. Could bounce and drop to 1620 pivot. If it closes decisively above 38.2, 200MA and 1680 I'll be looking to go long. If it retests these 3 levels and bounces up all the better.

Additional downside still exits but I think we are close to a bottom. As always will be watching volumes and keeping my eyes on the COT reports and lease rates.

QE or no QE I think the effects of the FOMC meetings in April will be dramatic.

Haven't posted for a while, just been reading and learning. My analysis seems so basic compared to others, especially buma. Hope someone out there gets some sort of insight from my post.
Attached Image (click to enlarge)
Click to Enlarge Name: au_1603122.jpg Size: 119 KB
  • #17,766
  • Edited 1:23am Mar 16, 2012 1:13am | Edited 1:23am
Quoting lilpip
1 year
1903
1597
1291
quartrly
1896
1632
1378
with mar. trendguide 1670 not holding eyes open retest response.
with 2nd quarter approaching, rotation back to 1st quarter support and trendguide area 1632 noted.
single year primary trend 1597-1600 trendguide next support. Bulls above bears below.
takes a while but others acknowledge the significants of 1597-1600 for 2012 also.
http://www.grandich.com/2012/03/us-g...ros-gold-1640/

drop from single year trendguide 34.50 along with mar. pivot 32.76 noted, eyes open to retest of monthly pivot response.
  • #17,767
  • Mar 16, 2012 1:37am Mar 16, 2012 1:37am
Quoting beeb
Okay - up and running again.

Here's the SI daily previously posted with a few more lines added to the red downfork to show more of the validation in it. If you need some help in learning how to trade forks (i'm talking to you buma ) suggest you might find some assistance in the post linked from the thread's first post.....

I still see the red fork as being in control and the breach of the UP a few days ago is still only a flush until price finds support at or above the UP

beeb
angles interest me, and price ratios/harmonies do so yeah thanks Beeb ill look into it more
Have I got something on my face, SOLDIER?
  • #17,768
  • Mar 16, 2012 4:57am Mar 16, 2012 4:57am
Quoting dogbreath
Hi People....thought some of you may be able to make use of this tick volume indicator.

what is the purpose and how do you use this tick volume indicator ?

anyways i got out of my long from yesterday (1544) for +15.

waiting for the next bullish setup....
  • #17,769
  • Mar 16, 2012 4:58am Mar 16, 2012 4:58am
there appears to be good support at 1649. could be a place to go long....!
  • #17,770
  • Mar 16, 2012 8:46am Mar 16, 2012 8:46am
Quoting whatfx
there appears to be good support at 1649. could be a place to go long....!
yesterday fib combine with today
Attached Image (click to enlarge)
Click to Enlarge Name: Entry.jpg Size: 100 KB
  • #17,771
  • Mar 16, 2012 9:36am Mar 16, 2012 9:36am
Gold rose 20usd off the channel bottom and then seemed to fail.

Now we are getting a second boost up at time of post.

These two tests should prove to increase the support in this zone,
but we all know anything can change at any time.

A close anywhere around 1650 +or - leaning towards + 20 should provide a potentially bullish open for next week.

I would like to see a close above 75 and the 23.6 fibo of the last move down.
Attached Image (click to enlarge)
Click to Enlarge Name: XAU CHAN BOT REACT h1.GIF Size: 13 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,772
  • Mar 16, 2012 9:40am Mar 16, 2012 9:40am
Quoting whatfx
what is the purpose and how do you use this tick volume indicator ?

anyways i got out of my long from yesterday (1544) for +15.

waiting for the next bullish setup....
you can use it on any time frame....I would turn the alert popup on. It will indicate if the tick volume is bullish or bearish.

It is pretty straight forward.
Life's a bitch....so be a dog and cover it!
  • #17,773
  • Mar 16, 2012 10:04am Mar 16, 2012 10:04am
All major pairs indicate that USD is weakening
however, there is no major news indicating that USD will go down
so probably just some friday effect/profit taking/manipulation going on

I would call it end of the week and see you next week

happy trading
  • #17,774
  • Mar 16, 2012 11:00am Mar 16, 2012 11:00am
Quoting XTrade
Gold rose 20usd off the channel bottom and then seemed to fail.

Now we are getting a second boost up at time of post.

These two tests should prove to increase the support in this zone,
but we all know anything can change at any time.
For me it seems that the try wasnt successfull unfortunately
  • #17,775
  • Mar 16, 2012 11:38am Mar 16, 2012 11:38am
Not sure what you mean here.

--------------------------------


The old demo for this thread was dug up after I stacked more positions on it and let them ride for a week.

Most are closed and it is back in profit mostly booked.

Someone had asked to see the result after betting against the NFP losing,losing tons of equity, and then reloading.

This is the result.
see top of thread. Go to the second tab to see the recovery trades. At best the profit before the account crash was 17k mostly floating P&L. Not holding much over the weekend.
Quoting fibbonix
For me it seems that the try wasnt successfull unfortunately
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,776
  • Mar 16, 2012 11:44am Mar 16, 2012 11:44am
Quoting XTrade
Not sure what you mean here
Sorry, I meant that after the second "boost" the price failed to reach lets say roughly the 1662-1665 zone. I am hereby refering to the H1 chart.
  • #17,777
  • Mar 16, 2012 12:00pm Mar 16, 2012 12:00pm
This is what I saw

LLs at my S3 @ 1633.71 retracing and failing yesterdays highs @ 1666.3. Followed by LHs failing my EMA (80 period on H1) and (160 period on M30)

I was looking to short a third touch on that line.

I should have put in pending order under the line to give me better RR (tight stop behind my MA.

I took market price (not great) and initial was DP but i thought likely this would give way but when it resisted I exited for +38 pips

Its been a challenging week and good to end on a postive note

Cheers

Speed
Attached Image(s) (click to enlarge)
Click to Enlarge Name: goldm3016032012.jpg Size: 165 KB
Click to Enlarge Name: goldh116032012.jpg Size: 155 KB
" Dont wait for your boat to come in ..... swim out and meet it"
  • #17,778
  • Mar 16, 2012 1:52pm Mar 16, 2012 1:52pm
XT

Glad to see the demo is up&running again

It was me who asked why you didn't close all the dollar shorts before the NFP and reverse.
A quick look at the trade list shows that many trades opened prior to the NFP and kept until today to close, went back into the green (a little). So, recovery took one week. On the other hand, all dollar shorts placed after the dip cashed in very well. So, your fundamental view re the true weakness of the USD is right and I thank you for demonstrating this at a time a lot of people are warning: dollar strength, dollar strength!
So Edit: I think you should have cashed in before the NFP and short the $ again after the dip (you did short again)

I need a break from the FOMC and BB.

Thanks again XT, I learn from you


Quoting XTrade
Not sure what you mean here.

--------------------------------


The old demo for this thread was dug up after I stacked more positions on it and let them ride for a week.

Most are closed and it is back in profit mostly booked.

Someone had asked to see the result after betting against the NFP losing,losing tons of equity, and then reloading.

This is the result.
see top of thread. Go to the second tab to see the recovery trades. At best the profit before the account crash was 17k mostly floating P&L. Not holding much over the weekend.
  • #17,779
  • Mar 17, 2012 12:42am Mar 17, 2012 12:42am
I would like to start applying more serious VSA to Gold and Silver, the problem I have is that the Volume is only representative of the Broker who's chart we are analyzing.

For instance if we were trading FX Futures through a highly moderated and recorded exchange, such as the CME, then the volume would mean at represent all the open trades.

On the flip side, I have compared volumes from say at least 7+ spot FX dealers and they pretty much are the same. So the analysis could work.
I suppose.

Please if you have a great volume indicator share it with the thread. Especially if you think it is suitable for Metals trading.
Thank You!
XT

Quoting Dirtybrown
Attachment

32 would have been a good entry, looks steady here. For anyone that has an idea about VSA, the green volume bars strongly support this area. Expect prices to ride smoothly higher at the moment.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,780
  • Mar 17, 2012 12:57am Mar 17, 2012 12:57am
Quoting XTrade

On the flip side, I have compared volumes from say at least 7+ spot FX dealers and they pretty much are the same. So the analysis could work.
I suppose.
I never know this fact. I removed volume from my chart since I thought that it is useless due to the volume only represent the trades that are done through the dealer

Never tried any volume indicator before, but I think the logic of money flow index is promising. Going to test it
66 traders viewing now