Notice how NOT ONCE did bernkake mention GOLD..
He probably watches it like a Hawk.
Don't wish it were easier, wish you were better. ~ Jim Rohn
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #5,401
- Apr 27, 2011 3:19pm Apr 27, 2011 3:19pm
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
- #5,402
- Apr 27, 2011 3:22pm Apr 27, 2011 3:22pm
- | Commercial User | Joined Jan 2011 | 4,044 Posts
XTrade that's true, however I remain confident that upside is capped by
1534
1587
This is strong quarterly resistance, which is good for april may june. That + the fact that seasonality starts to kick in mid-May through august, there is hardly any chance we will see strong action during summer time, it's either correction or consolidation upon topping action, which will come to an abrupt end mid-May.
Same thing across the board on currencies, cable and euro will see topping action and reverse soon, that's not to say I enjoy picking tops/bottoms, I'd rather wait until momentum gathers and then hop in on the train.
1534
1587
This is strong quarterly resistance, which is good for april may june. That + the fact that seasonality starts to kick in mid-May through august, there is hardly any chance we will see strong action during summer time, it's either correction or consolidation upon topping action, which will come to an abrupt end mid-May.
Same thing across the board on currencies, cable and euro will see topping action and reverse soon, that's not to say I enjoy picking tops/bottoms, I'd rather wait until momentum gathers and then hop in on the train.
- #5,406
- Apr 27, 2011 3:39pm Apr 27, 2011 3:39pm
Gold is like Kryptonite to a keynesian central banker.
some comments on CNBC were so funny... people were saying that nobody believes Bernanke anyway and therefore they just went on with their business
I would like to know what Peter Schiff would say today
"The reason I was born and came into the world is to testify to the truth."
- #5,407
- Apr 27, 2011 3:43pm Apr 27, 2011 3:43pm
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
sometimes I take "Lex Luthor" as username. It has to be some kind of intuition
some comments on CNBC were so funny... people were saying that nobody believes Bernanke anyway and therefore they just went on with their business
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #5,409
- Apr 27, 2011 3:53pm Apr 27, 2011 3:53pm
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Trade what you see, not what you think or feel. Let the market come to you.
- #5,411
- Apr 27, 2011 3:58pm Apr 27, 2011 3:58pm
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Gald you did.
Keep on posting please.
BMc Bill
. You guys have a hot thread here...VERY active!FX4
Trade what you see, not what you think or feel. Let the market come to you.
- #5,412
- Edited 5:40pm Apr 27, 2011 4:02pm | Edited 5:40pm
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Trade what you see, not what you think or feel. Let the market come to you.
- #5,413
- Apr 27, 2011 4:06pm Apr 27, 2011 4:06pm
- | Commercial User | Joined Oct 2010 | 1,778 Posts
thanks
I think i'm noticing a difference between our methods - in that when looking at a 60min or 240 min i seem to take a bigger picture than you and if i was charting the fortnight that you have shown i would have used a 20min...I get the impression that you seem to like longer lower forks than i do....
both valid of course
beeb
I think i'm noticing a difference between our methods - in that when looking at a 60min or 240 min i seem to take a bigger picture than you and if i was charting the fortnight that you have shown i would have used a 20min...I get the impression that you seem to like longer lower forks than i do....
both valid of course
beeb
- #5,414
- Apr 27, 2011 4:11pm Apr 27, 2011 4:11pm
- | Commercial User | Joined Apr 2010 | 2,840 Posts
thanks
I think i'm noticing a difference between our methods - in that when looking at a 60min or 240 min i seem to take a bigger picture than you and if i was charting the fortnight that you have shown i would have used a 20min...I get the impression that you seem to like longer lower forks than i do....
beeb
I generally use H1 for posting as I think if there is a set-up there, it is almost ready for a move. But I really look at the Weekly down. I guess it is just my habit to find the fork that frames price the best whenever I come to the chart. As long as it has shown credibility and continues to do so I keep it because I expect price to "remember" those lines.
That's the beauty of drawing tools...the trader applies them based on what they want to see...what's important to them to make a trading decision. But the rules of application are the same. I can understand your chart and you mine. Just like no two people given a blank sheet of paper and pencil will draw a table exactly the same, but hopefully, with a little training, we'll all see that they drew a table
.FX4
Trade what you see, not what you think or feel. Let the market come to you.
- #5,416
- Apr 27, 2011 4:19pm Apr 27, 2011 4:19pm
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Trade what you see, not what you think or feel. Let the market come to you.
- #5,417
- Apr 27, 2011 4:24pm Apr 27, 2011 4:24pm
- | Commercial User | Joined Oct 2010 | 1,778 Posts
That's the goal..."nail this sucka" LOL.
Have fun making $$$
FX4
You too....
beeb
- #5,418
- Edited 5:19pm Apr 27, 2011 4:37pm | Edited 5:19pm
- | Commercial User | Joined Apr 2010 | 2,840 Posts
You too....
beeb
...not talking about me necessarily by the way LOL.
Trade what you see, not what you think or feel. Let the market come to you.
- #5,420
- Apr 27, 2011 7:46pm Apr 27, 2011 7:46pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
And what is giving you such confidence.?!?
As of now these numbers are arbitrary guesses unless you explain what they mean or how you arrived at such points.
As you know neither of these points have been reached yet. Thus, they cannot be considered resistance or furthermore capping of the upside.
We are in a 10 year bull run, and you are calling a top which is appx 4 to $50 dollars nominally away? That just seems ridiculous in and of itself.
Yes April will end the first quarter of the year. So if what you mean is there may be profit taking and a subsequent correction, there is always that possibility.
Yet, I remember people with such for-sight that they knwe the end of the YEAR and the END of the Last Quarter was SURE to be the end of the "run" they went short. That was over 120 dollars per oz ago.
As to your second statement, yes the USD will rally at some point and if you listened to the FOMC speech by bernanke today there are NO signs that ,, that point is NOW> in fact I completely disagree. I think many people are going to be surprised as to what is in store for the major minors and even some exotics.....
This is similar to the argument, USD/CHF has never traded this low in history, it must rise now thus I am bullish. Wrong.
Please elaborate.
Edit to add: I am looking down the road a bit at 1.5100 for Euro and 1.7100 for Cable.......
As of now these numbers are arbitrary guesses unless you explain what they mean or how you arrived at such points.
As you know neither of these points have been reached yet. Thus, they cannot be considered resistance or furthermore capping of the upside.
We are in a 10 year bull run, and you are calling a top which is appx 4 to $50 dollars nominally away? That just seems ridiculous in and of itself.
Yes April will end the first quarter of the year. So if what you mean is there may be profit taking and a subsequent correction, there is always that possibility.
Yet, I remember people with such for-sight that they knwe the end of the YEAR and the END of the Last Quarter was SURE to be the end of the "run" they went short. That was over 120 dollars per oz ago.
As to your second statement, yes the USD will rally at some point and if you listened to the FOMC speech by bernanke today there are NO signs that ,, that point is NOW> in fact I completely disagree. I think many people are going to be surprised as to what is in store for the major minors and even some exotics.....
This is similar to the argument, USD/CHF has never traded this low in history, it must rise now thus I am bullish. Wrong.
Please elaborate.
Edit to add: I am looking down the road a bit at 1.5100 for Euro and 1.7100 for Cable.......
XTrade that's true, however I remain confident that upside is capped by
1534
1587
This is strong quarterly resistance, which is good for april may june. That + the fact that seasonality starts to kick in mid-May through august, there is hardly any chance we will see strong action during summer time, it's either correction or consolidation upon topping action, which will come to an abrupt end mid-May.
Same thing across the board on currencies, cable and euro will see topping action and reverse soon, that's not to say I enjoy picking tops/bottoms,...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News