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

  • #43,941
  • Oct 11, 2017 9:52pm Oct 11, 2017 9:52pm
long gold from 1292.68 off 4H looking for continuation. 1294.17 still offering resistance 1H. come on buyers!
  • #43,942
  • Oct 11, 2017 10:22pm Oct 11, 2017 10:22pm
Quoting LuKa12
long gold from 1292.68 off 4H looking for continuation. 1294.17 still offering resistance 1H. come on buyers!
got the break, looking for buyers to hold and extend now. Kim, a missile test would be appreciated today thanks.
  • #43,943
  • Oct 11, 2017 10:29pm Oct 11, 2017 10:29pm
Seems like NK isue again to perform bullish ?
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #43,944
  • Oct 11, 2017 10:31pm Oct 11, 2017 10:31pm
Quoting pipsy7
{quote} -------7 another 7 of these bad boyz$ - TP1 remains d same but will bank 2x4 pos. = nice Clean chart huh {image}
-------7

banked 8 pos. @TP1 - - - remainin 6 goes to TP2
da n0o0b + $hit_Disturber
  • #43,945
  • Oct 11, 2017 10:49pm Oct 11, 2017 10:49pm
Quoting bbmabwn
Hi everyone. Just giving my input on NFP! I don't usually trade news. In fact, whenever major events comes up, I protected all my open trades by setting SL+ (because we don't own the market, who knows what might happen). I'm not a fundamental expert anyway, I just stick to my technical expertise. Anyway, as a SND/Fibo trader, I'm seeing a very strong opportunity to swing buy at the current price level. Provided that an opportunity arise, I'm going to go long. If, however the daily candle closes below the current black rectangle, I'll be looking...
Here's the post. refer to the attached picture for my TP target. You're welcome

Don't overcomplicate your analysis. It always goes back to basic SNR and trendline
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD D1 12october 17.PNG Size: 65 KB
Trendline, SnR, Timeframe. Keep it simple
  • #43,946
  • Oct 12, 2017 1:13am Oct 12, 2017 1:13am
Inserted Video
  • #43,947
  • Oct 12, 2017 1:36am Oct 12, 2017 1:36am
Gold ranges in short term remains 1333 -1390( target 2) to 1225/00 with pressure down before further correction up for more targets .That is price now remains in the middle for present range 1200- 1390 while 1200 first most probable not in a straight line though. take care , fontu
Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWeekly.png Size: 58 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #43,948
  • Edited 4:14am Oct 12, 2017 3:29am | Edited 4:14am
Quoting Vitallica
{quote} XAU returning to London price fix. It returns to base every day, so if it is above the price, I usually short it and get out at the price fix; if it is below... you know the drill. http://www.kitco.com/gold.londonfix.html

I see that you making some effort to learn. Will share with you some info. Note 5 day Fix cycle (Short Term) is Bullish and (Mid Term 20 days cycle) is Bearish against 1297.xx so it's best to buy in the Short Term going into the Mid Term, note when i call for trade i use scalp sell or sell/ or buy scalp or buy sometime.

Note also the greatest of edge is knowing your risk with the trend cycle you trading within.

Bless you.
  • #43,949
  • Oct 12, 2017 3:37am Oct 12, 2017 3:37am
Quoting Skuz
{quote} Shhhhh! Talking about the Fix within earshot of these Pro traders will get you stoned and banished to the stockade
I am not afraid of any so call pro trader or any other Pro Traders, as i have said before i have seen many unsuccessful Traders in my life even those who are pro.

Accumulating and Distributing orders are easy with Millions to those who know how to properly do it. Trading for a living is much harder, so my hats off to retail traders.

Note i will not remain quite once i start just might not be around long , out of my own choosing.
  • #43,950
  • Oct 12, 2017 4:20am Oct 12, 2017 4:20am
Gold- Midweek Update

We are nearing to the weekend. This week really turned out to be the week of the bull .
We are near to 40$ profit this morning. Resistance levels are approaching.
1. First the target price counted from the right translated double bottom pattern at 1304$. ( The right translated pattern will be important later what I'm doing and why.
2. Later the 200 SMA on the 4hrs chart : 1305, 8$.
3. And last the resistance at the false swing : 1313 . A lot of bulls will get out at this level as they were trapped at that false swing...
I just want to prepare you that I'm going to jump out between 1304 and 1314. I want to see what's happening with the currencies and stocks at these critical gold levels.
Notice that he FIBO 38,2% retracement is at 1297,88. We just hit our head into that level in the last hour...
LONG FOLLOW THROUGH - Holding the longs
  • #43,951
  • Oct 12, 2017 6:20am Oct 12, 2017 6:20am
1302.777 tmw or next wk = imVho - - - hav a gr8 wkEnd
da n0o0b + $hit_Disturber
  • #43,952
  • Oct 12, 2017 10:53am Oct 12, 2017 10:53am
Quoting pipsy7
1302.777 tmw or next wk = imVho - - - hav a gr8 wkEnd
GREAT
  • #43,953
  • Oct 12, 2017 11:46am Oct 12, 2017 11:46am
Quoting Visionary
{quote} I see that you making some effort to learn. Will share with you some info. Note 5 day Fix cycle (Short Term) is Bullish and (Mid Term 20 days cycle) is Bearish against 1297.xx so it's best to buy in the Short Term going into the Mid Term, note when i call for trade i use scalp sell or sell/ or buy scalp or buy sometime. Note also the greatest of edge is knowing your risk with the trend cycle you trading within. Bless you.
Good day to you Visionary, I have been following your posts with great interest keep up the good work please. to get the 5 days and the 20days cycle, will you use only the pm fixes, the am fixes, or the average of am and pm fixes over a period of 5 days and 20 days? Thanks for your input.
  • #43,954
  • Oct 12, 2017 12:52pm Oct 12, 2017 12:52pm
Gold has almost reached $1,300, it will likely test it very soon. A breakout will probably lead to a further rally to $1,315.
  • #43,955
  • Oct 12, 2017 4:44pm Oct 12, 2017 4:44pm
Quoting Visionary
{quote} I see that you making some effort to learn. Will share with you some info. Note 5 day Fix cycle (Short Term) is Bullish and (Mid Term 20 days cycle) is Bearish against 1297.xx so it's best to buy in the Short Term going into the Mid Term, note when i call for trade i use scalp sell or sell/ or buy scalp or buy sometime. Note also the greatest of edge is knowing your risk with the trend cycle you trading within. Bless you.
Thanks for the outlook. I understand that the assertion that gold respects the London Price Fix is challenged as a range determination mechanism, but the enclosed chart for the 12 October session provides some proof - I am not sure if it is disturbing or comforting.

Anyway, here is an interesting article on the reason for this situation, not least of which is the massive differential between the physical gold and the paper gold traded.

https://www.bullionstar.com/blogs/bu...ysical-market/
Attached Image (click to enlarge)
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  • #43,956
  • Oct 12, 2017 5:06pm Oct 12, 2017 5:06pm
  •  Skuz
  • | Joined Jun 2017 | Status: Practising my own foolosophy | 73 Posts
A good visual and some interesting reading. Ta.

In my bid to get a handle on how the AM and PM fixes actually affect price, I plotted last weeks pricing thus...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 58 KB


I haven't quite figured out the behaviour for the 5th & 6th
5/10
1278.40 is higher in the AM Fix so bears arrive - OK
1274.50 is lower so more bears arrive - ?

6/10
1268.20 is lower still and more bears arrive - ?
1261.80 is lower and then the bulls arrive with great gusto and we run up till the market closed.

Thoughts
You alone are accountable for your actions
  • #43,957
  • Oct 12, 2017 5:52pm Oct 12, 2017 5:52pm
Quoting Skuz
A good visual and some interesting reading. Ta. In my bid to get a handle on how the AM and PM fixes actually affect price, I plotted last weeks pricing thus... {image} I haven't quite figured out the behaviour for the 5th & 6th 5/10 1278.40 is higher in the AM Fix so bears arrive - OK 1274.50 is lower so more bears arrive - ? 6/10 1268.20 is lower still and more bears arrive - ? 1261.80 is lower and then the bulls arrive with great gusto and we run up till the market closed. Thoughts
The chart you prepared shows that the intention of the price fixing, which is done at 10.30am and 3.00pm in London (these times coincide with the bulk of the order volume flow), and balances the buy and sell contracts - intended to provide fair pridcing. Since the conference calls are not recorded in terms of participants or the number of contracts under consideration it is difficult to explain the reason for the price action you observed, but needless to say there is increasing pressure from the market for COMEX style real time arbitrage.

My company is raising capital for a gold project in Australia and strangely even though we have flexed the project on a gold price of USD 1,000/oz (just above the AISC of global gold production) we are still not seeing much excitement from investors who remain long term bearish on gold, maybe they do know something we don't.
  • #43,958
  • Oct 12, 2017 6:05pm Oct 12, 2017 6:05pm
Quoting Vitallica
{quote} Thanks for the outlook. I understand that the assertion that gold respects the London Price Fix is challenged as a range determination mechanism, but the enclosed chart for the 12 October session provides some proof - I am not sure if it is disturbing or comforting. Anyway, here is an interesting article on the reason for this situation, not least of which is the massive differential between the physical gold and the paper gold traded. https://www.bullionstar.com/blogs/bu...ysical-market/...
Which says:

"The auction opening prices are based on COMEX and London OTC price quotations as well as trading prices at auction opening times, i.e. at 10:30 am and 3:00 pm respectively."

Again it can be no clearer, price leads the fix. Not the other way around.

If someone gains something by following the fix, fine. Just understand it lags what has already happened.
  • #43,959
  • Oct 12, 2017 9:48pm Oct 12, 2017 9:48pm
Quoting SunTrader
{quote} Which says: "The auction opening prices are based on COMEX and London OTC price quotations as well as trading prices at auction opening times, i.e. at 10:30 am and 3:00 pm respectively." Again it can be no clearer, price leads the fix. Not the other way around. If someone gains something by following the fix, fine. Just understand it lags what has already happened.
Thanks for the advice, to be honest it is quite slow trade, in 3 hours we have had a USD 2 rise. On my AvaTrade account I also took a long position on Bitcoin at the same time, and snagged a ridiculous move from USD 5,340 to USD 5,801! I think I am done for the day!
  • #43,960
  • Oct 13, 2017 12:48am Oct 13, 2017 12:48am
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