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

thanks beeb

Gold looks like it might to fall out of the bed here. I have been stopped at BE on the long i entered on thurday last week.

I still have a third from 1363, which will be held till death do'ath part...... or till do'ath get stopped out at BE.

FINALLY my longs were triggered at 1424!

highlander, you are right. 1423 is still holding but doesn't show strength. If it breaks, I may run to a shop and buy silver, even if it is a single coin...

http://www.theundergroundinvestor.co...t-full-of-air/

Bullish buterfly formed on H1

i think we're going down for a bit - not sure yet if that means days - am short from 1430

beeb

for a couple of days gld is down

are you reporting or predicting?

my prediction is still negative .1430** stop loss

I also think we are going down for a while. Looking at price action in the past few days i had a strong feeling smart money was switching to the short side.

We might see 1400 again.

OK it's just not clear because "is" is present tense. If you think gold is going down in the future, the present tense is probably not the best one to use.....point of information only

beeb

have to say I am bearish now, that is a pretty big candle on the daily, below 1410 then I will start shorting big style.

euroscum - I believe the market is very finely balanced here - there is huge physical demand working against the comex shorts. it certainly isn't clear cut....i am short but constantly monitoring it - imo it certainly isn't a market to go "all in" one way or the other - indeed it rarely is.....

beeb

My view is if the SPX start selling off it is going to take commodoties with it.

Might be an entry here at 1412 / 1410 areas. Best to wait a bit and see how it pans out.

THe channel is broken. It was a bit tight any way.

USD has had a little rally pulling most majors down.

even when GC 20 drops below the Lower Parallel of the fork note how the warning line and quartiles come into play....
we're in downtrend at the moment - that needs to change before i think of a long...

beeb

Sl 1390

good luck

I would nto go long now, but good luck

Watching the 1400 level for PA, would like to see it move sideways a bit first though, rather than try to catch this at the moment.
Watching and waiting..

trade safe

thank you
good luck to you too

Price has currently pulled back as far as 1403-4 level which is support at 21 period EMA.

I have 1397 as the 38% fib level and 1385 as the 50% level, calculated from the weekly trend line.

1385 has also been a solid swing area for PA previously.

I will now be waiting for daily PA at support levels with RSI confirmation.

Trend is still up on the daily chart. however, If the weekly PA ends as a 2 bar reversal then i see us back at 1370 pronto.

A correction to 1370 over the next few working days would see us back at the weekly trend line and back inside the weekly TAZ (21 & 8 EMA) at which point i would still be bullish long term.

For me shorts are risky as big buyers may jump in two footed at any of these support points.

Coincidently or not, the "we buy all your old gold" TV adverts are back in the Uk. Surely an omen