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

  • #2,061
  • Nov 17, 2010 4:03am Nov 17, 2010 4:03am
maybe this channel can hold for an other big drop
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  • #2,062
  • Nov 17, 2010 4:44am Nov 17, 2010 4:44am
Looks like we slowed down a bit now...

News out in a few hours @ NY open

Gold may bob in this range if we don't take out the channel and 1340 for the techs

If US news is positive then we may break 1330 area.

May want to keep tight stops or stay out until after news....

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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,063
  • Nov 17, 2010 6:49am Nov 17, 2010 6:49am
Currently, the price of gold stood at 1,338 usd per ounce after opening in 1341 the price per ounce this morning. According to technical analysis in the chart on the gold price will probably try again to support levels on 3/11/2010 at the bottom of the candle Hammer price 1325 usd per ounce. In addition, combined with the gold Ichimoku will likely pop up again after the touch strip on the Kumo and Tenkan with Kijun are created equilibrium price when the two walked together to create balance in 1370 dollars an ounce.

Therefore, we can refer to the following investment strategy:

*****
Buy: 1334-29.

Stop loss: 1323.

Take profit: 1344-1349-1459.
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  • #2,064
  • Nov 17, 2010 7:59am Nov 17, 2010 7:59am
combined with the gold Ichimoku will likely pop up again after the touch strip on the Kumo and Tenkan with Kijun are created equilibrium price when the two walked together to create balance in 1370 dollars an ounce.

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

Very interesting. I dont quite understand "... created equilibrium price when the two walked together to create balance in 1370 dollars an ounce"

do you mean when the two MAs (at around 1370) are parellel, means the fall is done and get ready for reverse direction?
I have no enemy; I make Incautiousness my Enemy.
  • #2,065
  • Nov 17, 2010 8:39am Nov 17, 2010 8:39am
jimobiwan:

>>>>> I think the price will likely be back up and the expected price around 1370 usd/ounce aimed to test the resistance level 1382 usd/ounce after not sustain this level.
  • #2,066
  • Nov 17, 2010 9:38am Nov 17, 2010 9:38am
Quoting thanhtung68
jimobiwan:

>>>>> I think the price will likely be back up and the expected price around 1370 usd/ounce aimed to test the resistance level 1382 usd/ounce after not sustain this level.

ok thanks

tortuously slow today

other FX pairs have rebounded nicely, supported by oil
Crude pares losses after surprise supply decline
<LI class=breaking>BREAKING
EIA: Crude inventories down 7.3 mln barrels

so frustrating Au cant overcome inertia.

even swissy and dxy pulling back.
I have no enemy; I make Incautiousness my Enemy.
  • #2,067
  • Nov 17, 2010 9:40am Nov 17, 2010 9:40am
next bounce up to 1370 - 1380 is good for short for new lows before yesterday's lows

long if it breaks that area, and new highs will be likely
  • #2,068
  • Nov 17, 2010 9:55am Nov 17, 2010 9:55am
(MarketWatch) — Gold futures flitted between small gains and losses Wednesday as bargain hunters provided some support for prices after they sunk to a two-week low in the previous session.
I have no enemy; I make Incautiousness my Enemy.
  • #2,069
  • Nov 17, 2010 10:46am Nov 17, 2010 10:46am
Thanks to Jim,

Quote
=Jim Wyckoff Comex gold prices are trading slightly higher Wednesday morning, on a minor corrective, short-covering bounce following strong losses posted on Tuesday that did produce some fresh technical damage. A steady-higher U.S. dollar index is once again limiting buying interest in gold Wednesday morning. December Comex gold last traded up $3.00 at $1,341.30 an ounce. Spot gold last traded up $0.90 at $1,341.00.

Many commodity futures markets are under modest selling...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,070
  • Nov 17, 2010 11:03am Nov 17, 2010 11:03am
oil completely retraced its gains now near DL.

GBP, EUR, NZD, AUD still holding on to gains

is Au making a rising wedge? on M30
I have no enemy; I make Incautiousness my Enemy.
  • #2,071
  • Nov 17, 2010 12:37pm Nov 17, 2010 12:37pm
Quoting XTrade
Thanks to Jim,
Yes reading him daily, great stuff
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #2,072
  • Nov 17, 2010 6:54pm Nov 17, 2010 6:54pm
GOLD

Above 1346/7 I see up

Below 1330 I see down.

Lets break this range and see.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,073
  • Edited 8:02pm Nov 17, 2010 7:44pm | Edited 8:02pm
Uper trendline TF 1 alrdy break late we see
SANTAI FX EA
  • #2,074
  • Nov 17, 2010 10:19pm Nov 17, 2010 10:19pm
trying to get 1350 now... good resistance for the moment
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #2,075
  • Nov 18, 2010 12:03am Nov 18, 2010 12:03am
Have lightly broken resistance @ 1343 area,

I took small profits (300 pips) on my scalp before. Yet

Let this be a LESSON to all traders:

The initial trade was more profitable. Yet I closed it too soon in order to reduce open net risk......

PATIENCE> is ONE of the keys to successful FX and metals trading.

CONFIDENCE is PARAMOUNT as well.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,076
  • Nov 18, 2010 12:07am Nov 18, 2010 12:07am
Always set a rough target and assess your risk reward before entering any trade.

If the risk is too high the trade is BAD - THAT"S IT -

As much as we may wan't to believe every trade we take is the
"Ultimate winner" we know that, is just NOT, the case in forex and commodity trading.

----------

So On a target note looks like GOLD is rising....

time to check silver and the PGMs (Platinum metals group = Platinum, Palladium and Rhodium.)
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,077
  • Nov 18, 2010 12:25am Nov 18, 2010 12:25am
We are just above the last fibo pull for the down move.

Top 1417.93 area
Bott - 1329.48 area.

WOW --

Gold is in a NEW territory. Get used to it friends. 1500 is well on the map.
Possible 2200 by end of 2012. (yes some people think we wont exist in 2012 due to aliens and a planet coming to take us over)

I think 1500 USD GOLD happens first
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,078
  • Nov 18, 2010 12:27am Nov 18, 2010 12:27am
Not optimal but corrective.

This may be a good time to grab a few ozt of your preferred PM.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,079
  • Nov 18, 2010 1:28am Nov 18, 2010 1:28am
Quoting XTrade
Have lightly broken resistance @ 1343 area,

I took small profits (300 pips) on my scalp before. Yet

Let this be a LESSON to all traders:

The initial trade was more profitable. Yet I closed it too soon in order to reduce open net risk......

PATIENCE> is ONE of the keys to successful FX and metals trading.

CONFIDENCE is PARAMOUNT as well.
Thks XTrade
SANTAI FX EA
  • #2,080
  • Nov 18, 2010 1:57am Nov 18, 2010 1:57am
1355

I am starting my sell position up to 1362 with stop above 1365
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