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

  • #41
  • May 5, 2010 3:09am May 5, 2010 3:09am
Nevermind that pattern ( it may still follow) Yet I have been liking 1165 as solid support for a few moves now...
Starting small and adding where I see fit + or - .1 lot/s
Charting up next

Taking LONG Now @ 1165 area

Aggressive sellers about to meet aggressive buyers
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #42
  • May 5, 2010 3:19am May 5, 2010 3:19am
This IS LIKELY GOING TO ROCKET!!!!!!!!!!!
Buy dips NOW if you want a half decent entry...


Otherwise sell tops for $5 buck downmoves @ YOUR discretion
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #43
  • May 5, 2010 4:20am May 5, 2010 4:20am
It's perfect.
Quote
What Does Cup and Handle Mean?
A pattern on bar charts resembling a cup with a handle. The cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern has low trading volume. It can be as short as seven weeks and as long as 65 weeks.

As the stock comes up to test the old highs, the stock will incur selling pressure by the people who bought at or near the old high. This selling pressure will make the stock price trade sideways with a tendency towards a downtrend for four days to four weeks......
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #44
  • May 5, 2010 4:26am May 5, 2010 4:26am
However this type of pattern has been evident in H1 charts GOLD for a while,
Now I am looking at it Again! In perfect form.

I am already long .15

I will allow a stop below 1163 or even 1160 although I primarily Love and monitor/work off H1 I use M5 and Daily charts to my immediate aid.

Next I go to weekly/ monthly / YEARLY.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #45
  • May 5, 2010 5:15am May 5, 2010 5:15am
i like the inverse h&s on the daily chart of gold. along with the pullback and retest
Attached Image (click to enlarge)
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  • #46
  • Edited 6:06am May 5, 2010 6:04am | Edited 6:06am
UnknowN, I agree, yet also see some of my older posts IE
Here "before the break" in this thread

The actual break

Just one chart illustrating the move from bottom to!?!

We WILL BREAK 1200.

Sorry for the shorts, better luck shorting EUR/USD LOL

Oh and we are in the 29s now!
I managed a 50 pip trade down out of the last move.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #47
  • Edited 6:21am May 5, 2010 6:13am | Edited 6:21am
OK I am standing by my position and keeping open with stop as I get an hour or 3 of rest. Trades protected

Chart below

---Now PLEASE USE YOUR OWN JUDGMENT IF LIVE TRADING----

I trry to look for the LOWEST risk - hIGHEST REWARD
trades with Gold --depending on the Price action --- DO scalp a lot For 300 to pips @ a time.

IF and only IF it goes against me
to the tune that takes out stops...

There IS such a thing as';STOP HUNTING, mainly the reason I don'tbroadcast mine all the time. Nor do I put them in the obvious areas,
"just below pivot low" or 2 bucks below major support"

They are either so high they are done and I am done
OR ..............
Attached Image (click to enlarge)
Click to Enlarge Name: XAU_Follow up notesHIm.GIF Size: 32 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #48
  • May 5, 2010 6:26am May 5, 2010 6:26am
For entry long I would look in the accumulation area on the chart as it forms.

Now, do notice only one of my TPs is visible on the chart
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #49
  • May 5, 2010 8:04am May 5, 2010 8:04am
Everyone enjoying the Crash so far? I have another trade coming soon.
  • #50
  • May 5, 2010 9:46am May 5, 2010 9:46am
Quoting steroidman
Everyone enjoying the Crash so far? I have another trade coming soon.
Good day for Gold bulls though if it closes today at this level (~1070) as i type. It tried to sell off, but immediately fails

Nice charts XTrade, a break of prior highs in the coming weeks is the most logical scenario.

Ill be looking to add Xeu/Eur longs at the close of today if we close like this.

Euros though
  • #51
  • May 5, 2010 6:28pm May 5, 2010 6:28pm
Hello Everyone

This is my very first post. I have been actively flicking through the threads and enjoying your comments/predictions. I appreciate your indepth analysis on gold XTrade and you do indeed make sense. However, I would really appreciate more discussion from steriodman. Steriodman you do seem quite adament that a gold crash is impending. I too would like to understand your logic. Can you please explain why you think this may happen? I realise there was a $300,000 special meeting but why do you think there would be a crash? Just manipulation? Thank you.
  • #52
  • May 5, 2010 10:02pm May 5, 2010 10:02pm
Why? Because of the meeting. Nothing else. And on top of that, there is NO interest by any seniors in ANY juniors. NONE. Explain that.

I will explain it, it is because there is too much gold. There are devices that find it now. There is gold everywhere. And technology is getting up to speed to grab it. The oceans have billions of ounces of gold. And technology is obtaining it.
  • #53
  • May 5, 2010 10:48pm May 5, 2010 10:48pm
Quoting steroidman
Why? Because of the meeting. Nothing else. And on top of that, there is NO interest by any seniors in ANY juniors. NONE. Explain that.

I will explain it, it is because there is too much gold. There are devices that find it now. There is gold everywhere. And technology is getting up to speed to grab it. The oceans have billions of ounces of gold. And technology is obtaining it.

what a load of waffle, you should go write science fiction novels instead of gambling in forex.
  • #54
  • May 6, 2010 5:51am May 6, 2010 5:51am
What are you backing this WRONG opinion with? Conviction?
Seems like rumors...
Fundies? Nope
Chart?
Nope..

Please I am not trying to be rude here but POST SOMETHING to support your 'Gold Crash" opinion or stop.

Also I don't want to hear about a friend..
[quote-steroidman]
Why? Because of the meeting. Nothing else. And on top of that, there is NO interest by any seniors in ANY juniors. NONE. Explain that.

I will explain it, it is because there is too much gold. There are devices that find it now. There is gold everywhere. And technology is getting up to speed to grab it. The oceans have billions of ounces of gold. And technology is obtaining it.
[/quote]
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #55
  • May 6, 2010 5:53am May 6, 2010 5:53am
Waste of TIME.

Edit:

Cup resistance line is broken
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #56
  • May 6, 2010 6:00am May 6, 2010 6:00am
Here is the chart,
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #57
  • May 6, 2010 6:23am May 6, 2010 6:23am
Thanks XTrade. I was sitting here thinking the same and a bit afraid to post (being a newbie), but as I previously said you both have opposing opinions and I genuinely was hoping for steriodman to "back up" his gold crash with something concrete other than "hearsay". There must be either fundamental or technical reasons behind this crash for it to make some sense. I was just looking for more clarity.
  • #58
  • May 6, 2010 7:11am May 6, 2010 7:11am
Added more, for the crash. Cup schup. But good luck.
  • #59
  • May 6, 2010 7:14am May 6, 2010 7:14am
This is how you make a very large amount of dough in this game or get stopped out. You take a position at what you think is a top or a bottom(major) and you finesse and add and you hopefully go home in a limo, or you hitch a ride.
  • #60
  • May 6, 2010 7:18am May 6, 2010 7:18am
This pattern is evident on the weekly as well.

simple chart w/ key s/r
Attached Image (click to enlarge)
Click to Enlarge Name: xau_weekly_cup.GIF Size: 25 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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