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

  • #43,881
  • Oct 9, 2017 6:06pm Oct 9, 2017 6:06pm
Good day everyone hope you all had a great weekend. Just to note that Wednesday is the end of Bank Settlement for those who don't know. http://wsj-us.econoday.com/byshoweve...v=/bymonth.asp.

Which just happen to be FED minutes day, oh really.


Short Term is holding it's Bullish position for the moment against 1272.xx and Mid Term is still Bearish against 1297.xx and the 1285.xx correction has already been reach. So lets speculate we buy dips against 1272.xx Risk and sell below 1272.xx upon confirm Fix below to continue to 1248.xx money on the table.

Note* 1272.xx is currently 5 day 50%. oh really,

Again keep our eyes on this week close. 1272.xx is the key still for now.
  • #43,882
  • Oct 9, 2017 6:40pm Oct 9, 2017 6:40pm
Quoting Bones
well it is in a downtrend as you say , got it now where's the loony face icon thing {quote} {image}
Right here. What goes up in 2016 goes down in 2016. Real simple, even you could understand it. And oh BTW again the lines are drawn just to show the trend each way. They are not anchored to exact spots. I'd rather spend my time trading than to please the crowd:
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  • #43,883
  • Oct 9, 2017 6:54pm Oct 9, 2017 6:54pm
gold consolidated but hasn't been in your down trend at all
oct now still the open remains



Quoting Bones
yea gold is in a uptrend last year I read tweezer inverted hammer , its going to hit that upper tlat least bears have never fully taken hold yet after the initial The only thing that would change my mind is to see that low fail , but im warmed by open that could hold all year bears should worry the appearance of a positive year {quote} {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #43,884
  • Oct 9, 2017 7:00pm Oct 9, 2017 7:00pm
usdx


Quoting Bones
see how usd close , index against the majors even ,I think its gotta go to tl at this point usdx is driven by EU fundamentally maybe the eu is bearish with risky elections looming UK exit and Trumps negative EU comments 17 jan 2017 Trump just signalled the death of Clinton-era strong dollar policy Trump said the dollar was already "too strong," and he pointed a finger at the Chinese currency. "Our companies can't compete with them now because our currency is too strong. And it's killing us," he told the newspaper. {image} {image} {image} {image}...
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #43,885
  • Oct 9, 2017 7:05pm Oct 9, 2017 7:05pm
you then me
your basing trend on those lines but there wrong am I right?



Quoting SunTrader
{quote} Right here. What goes up in 2016 goes down in 2016. Real simple, even you could understand it. And oh BTW again the lines are drawn just to show the trend each way. They are not anchored to exact spots. I'd rather spend my time trading than to please the crowd: {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #43,886
  • Oct 9, 2017 7:12pm Oct 9, 2017 7:12pm
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #43,887
  • Oct 9, 2017 7:30pm Oct 9, 2017 7:30pm
The bullish week for gold

Our bottom is confirmed by today's swing. After a shallow pullback on Sunday night price bounced higher.
Most of the day was spent by printing a flag/ range on the hourly chart and we closed near to the daily top.
What happened exactly? After the first 2 daily cycles we printed a DCL last Friday and bounced from the 100 MA almost tagging the triangle trendline and the 200 MA. The level where the rally started from was the FIBO 61,8%.
Today we not just had a swing but a trendline break of the daily down trend line . By printing one more green 10$ candle we are having a 3 white soldier formation.
So tomorrow will be important : I would like to see if we are able to print the 3 white soldier formation by the close or not...
Fibonacci worked pretty well at the decline. I will use the FIBO on our way up too.
As of today we just tagged the 23,6% retracement. We can spend 1-2 days here. If we really stop now and cannot print the 3rd green candle tomorrow: it will show weakness...
The next level is the FIBO 38,2% (1298) and after that the FIBO 50% at 1309,5 and the false swing level at 1213$.
During the next few days we need to watch very carefully how we rally to these price points...
I think the bulls don't have to worry about their position this week. Even if it's a dead cat bounce we will tag minimum 1298-1309 during the next few days.

Trade with care!
  • #43,888
  • Oct 9, 2017 7:45pm Oct 9, 2017 7:45pm
Quoting Bones
gold consolidated but hasn't been in your down trend at all oct now still the open remains {quote} {image}
I said ... 2016. The second half of 2016. Not currently. But it's not like Gold is crazy bullish the last month or so either. The rest of your posts I haven't a clue what you mean. Sorry.
  • #43,889
  • Oct 9, 2017 8:20pm Oct 9, 2017 8:20pm
that's because your thick ,that's how your acting so it must be
your view is im crowd-pleasing or chest-thumping
my view is I'm dealing with a thicko who thinks he's the professional in the room

Quoting SunTrader
{quote} I said ... 2016. The second half of 2016. Not currently. But it's not like Gold is crazy bullish the last month or so either. The rest of your posts I haven't a clue what you mean. Sorry.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #43,890
  • Oct 9, 2017 9:12pm Oct 9, 2017 9:12pm
got the flag I was looking for and buy.. few more pips and will move to BE and see where we go.. realizing this may not be going to break top as yet, the abc i denoted may well be a larger degree a and now b wave (in which case we will retrace the down move but *not* break the top) with another move down to come before the bigger buy.. but .. we can see how much we get out of it .. (original post idea on pg 2198 me thinks)

Happy trading guys -- Doc
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Wave-Trader- Charts as DocHolliday on Tradingview also
  • #43,891
  • Oct 9, 2017 10:53pm Oct 9, 2017 10:53pm
Quoting RondaRousey
{quote} LOL. If you don't know who the noob is, it is you. You are not a pro and not a legend so you are 100% noob went long at 1265
nice entry
  • #43,892
  • Oct 10, 2017 1:17am Oct 10, 2017 1:17am
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  • #43,893
  • Oct 10, 2017 1:19am Oct 10, 2017 1:19am
Quoting RondaRousey
{quote} LOL. If you don't know who the noob is, it is you. You are not a pro and not a legend so you are 100% noob went long at 1265
See! you got my point.... And stories can be I am short from 1900 or may be I am long from 1050.... or may be my grand father is long from 87
  • #43,894
  • Oct 10, 2017 3:33am Oct 10, 2017 3:33am
Hey let it not turn into a bitching forum. Let's simply share our point of views and tame the bull called gold. As I said earlier, we will always have traders trading long as well as those trading shorts and, u see both may be profitable in a day. It's only how you manage your trade and money that matters. The direction and all is secondary. So, happy trading to all.
  • #43,895
  • Oct 10, 2017 4:55am Oct 10, 2017 4:55am
Mitchoss, buddy. Finally I got a way to send you my email. I shouted it in my profile. Please get it there and send me a message. Thanks!
  • #43,896
  • Oct 10, 2017 5:11am Oct 10, 2017 5:11am
price target achieved!! 1275 to 1290...

https://imgur.com/a/0jjE1
  • #43,897
  • Edited 7:08am Oct 10, 2017 6:31am | Edited 7:08am
Quoting pipsy7
{image}
-------------------------------------------------------
a Really Very Sad Bunch indeed -

i've 7 of these fukkers , will bank 4 pos @TP1 = 1294.777

do Not follow bla bla2
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da n0o0b + $hit_Disturber
  • #43,898
  • Oct 10, 2017 6:31am Oct 10, 2017 6:31am
Quoting SunTrader
"Summing up, the London Gold Market is the crucial market for gold. It is the biggest marketplace for gold in the world by the volume of trade. However the U.S. futures markets may play a slightly more important role in the price discovery. As an over-the-counter market, the London market is less transparent. However, this does not mean that London gold prices are manipulated. The London market is simply structurally different from centralized exchanges. Still, it provides many useful services for the gold investing community." http://www.kitco.com/commentaries/20...t-or-Myth.html...
Finally, the London market sets the gold fix – the so-called LBMA Gold Price – twice a day: at 10:30 GMT, and 15:00 GMT in the U.S. dollar, serving as a benchmark for pricing the gold widely used by producers, consumers, investors and central banks. Gold fixing was introduced in 1919 with the London Gold Fixing system. Initially, the fix was established by five banks in an elegant private auction at the London offices of Nathan Mayer Rothschild & Sons.

How does the system work? A question left to be answer. Many professional Traders don't know.

Is it important to know or not? There is many way to trade the market and make money with your own edge, the key at the end of the day is RISK. How it's apply to your edge. However Gold Fixing system allow you to trade blind without a chart if you know how it works.
  • #43,899
  • Oct 10, 2017 6:40am Oct 10, 2017 6:40am
Quoting Visionary
.... How does the system work? A question left to be answer. Many professional Traders don't know...
.... or care.

Where are all these students you claim to have?

Or are they always on "vacation" like you.
  • #43,900
  • Oct 10, 2017 6:44am Oct 10, 2017 6:44am
Quoting AranJibril
{quote} Thank you for replying, yes i agree we have to wait and see if the second movement happens or not ..
Its been a corrective move up.....and they generally don't seem to follow any pattern.....like this one decided to take the steep uphill route....

On the larger tf, it may hit the 1300-1330 zone now.....so lets try and ride the waves....
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