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

  • #6,681
  • Edited 4:29pm May 20, 2011 11:16am | Edited 4:29pm
aS PROMISED - Here is the chart.

With possible inverse mini H-S and a truer triangle test with rejection!

Quoting XTrade
I have to look at it a bit more closely but there may be an inverse Head and shoulders (small) that formed inside the triangle.

If it is in fact correct we are at the neck line now.

Breach of neck would put us at appx 1520/24 as the measure from head to neck is appx 24 from extension to 20 USD from candle top w/o wick.

Not to mention measuring the broken (BULLISH) symettrical triangle.
Which I will analyze further as well.

May not be tonight though. Getting tired....
Attached Image (click to enlarge)
Click to Enlarge Name: XAU tRIANGLE BREAKOUT WITH HS.GIF Size: 34 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,682
  • May 20, 2011 11:18am May 20, 2011 11:18am
All targets for Price hit.
As promised.
Quoting XTrade
We are out and rising. 1496 popped - next stop 1500/

I would like to sustain 1500 through overnight trade and pop 1507 by morning.
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,683
  • May 20, 2011 11:19am May 20, 2011 11:19am
Quoting kamen
If we see the weekly chart, silver should not drop more than 32.30..(based on the trendline).yesterday i watch the news,they said silver could end the correction around 33-35.what your comment?
Ouch... not a pretty chart!

"silver should not drop more than 32.30..(based on the trendline)." - Ermmm - price can do what it wants and don't believe everything you read.

On h4, price has printed a higher low... now we need to see a higher high, so it needs to break 36.42 and then the next stumbling block is 39.54.
  • #6,684
  • Edited 4:33pm May 20, 2011 11:31am | Edited 4:33pm
Now to get the target of the symmetrical triangle this is the calculation

THe high at the beginning was appx 1568
the low appx was 1468 so a 100 USD difference.

Thus, as the pattern goes we need to test 1568
+ 100 USD - which is the measure of the widest part of the triangle or the High to Low which formed it.
= Target of 1668

Usually these triangles last longer and are more wide and streched out.
Don't expect it to fly to that price, The tri lasted many days, the rise may as well. And one never knows what can happen in between.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,685
  • May 20, 2011 12:39pm May 20, 2011 12:39pm
Quoting XTrade
All targets for Price hit.
As promised.
Gold bull has finally come back, hail the bulls and out with the bears. Hopefully this time the bull maintain its momentum.

Still holding my long from 3 weeks back
  • #6,686
  • May 20, 2011 4:36pm May 20, 2011 4:36pm
If anyone is wondering about the recent ban I imposed on a member of FF they can read this.

http://www.forexfactory.com/showthre...28#post4634028
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,687
  • May 20, 2011 4:50pm May 20, 2011 4:50pm
OK. So I just measured the mini inverse H&S and from the Head to neck is appx
20 so it has basically completed.

Bullish momentum resumed after break of the symmetrical triangle and a GREAT pop of the Test. to a TEE!

Such Great patterns to trade. Even if you get in on the test you could still catch a clean 2000 pips or $20 + trade in one afternoon. Things have been tight.

Looking for further buying to resume next week.

Charts - Sym T - H4 view and Daily closeup
Spot board - CASH XAU
Great close!
Attached Image (click to enlarge)
Click to Enlarge Name: Gold Close may 20.GIF Size: 32 KB
Attached Images
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,688
  • May 20, 2011 4:52pm May 20, 2011 4:52pm
Well from looking at the daily chart one would assume it was just a normal day, with a clean breakout. But things are rather different on the 4hr! However the inside bar i posted last night did come off. I am now looking for PA to place long trades as i think the uptrend is back in play.
Attached Image
  • #6,689
  • May 20, 2011 5:16pm May 20, 2011 5:16pm
Yes Highlander, nice trading.



Definitely a huge bullish sign. Especially on the Higher Time frames. This was a great close on the daily.

Be back later and throughout the weekend with news.

X
Quoting highlander2
Well from looking at the daily chart one would assume it was just a normal day, with a clean breakout. But things are rather different on the 4hr! However the inside bar i posted last night did come off. I am now looking for PA to place long trades as i think the uptrend is back in play.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,690
  • May 20, 2011 6:20pm May 20, 2011 6:20pm
Quoting XTrade
If anyone is wondering about the recent ban I imposed on a member of FF they can read this.

http://www.forexfactory.com/showthre...28#post4634028
That guy was nothing but a troll, probably a member with a multiple account. It was a recently made account with almost all of his posts on this thread and after the ban you hardly see him post anywhere else. Don't worry or waste time with the trolls. They are all over FF.

Thanks for keeping the thread clean and orderly.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #6,691
  • May 20, 2011 9:43pm May 20, 2011 9:43pm
Quoting Bemac
please keep this in mind.

Gold Daily
Attachment

B

Luck or the result of research?
Attached Image (click to enlarge)
Click to Enlarge Name: 1,600 dollar gold daily may 19 11.gif Size: 28 KB


Today we posted...
Attached Image (click to enlarge)
Click to Enlarge Name: 1,600 dollar gold daily may 20 11.gif Size: 28 KB


Small Drop & oscilation to come but when 1,517 is below us, The Bulls have Wind. {in thier sails that is}
  • #6,692
  • May 21, 2011 11:12am May 21, 2011 11:12am
http://www.traderdannorcini.blogspot.com/
http://kingworldnews.com/
  • #6,693
  • May 21, 2011 2:28pm May 21, 2011 2:28pm
I'm not too worried about that minor line. It may serve as a small road bump.
But, the break of the SYM T is a good bullish continuation pattern that has proven to break in the favorable direction.

Keep up the good posts and thanks for your input.
]edit: ADD v
Not luck at all the result of tested and proven chart patterns and the prevailing trend shining through.

But, I do have to ask, I'm not really sure where that Sloping down TL is coming from.

There isn't a clear point of origination, and all my retracement TLs are broken.
We are seeing however that correction after a new high is dipping below obvious supports.

Gold does have a tendency have reactive highs and lows which can be eliminated by looking at a line chart

Quoting Bemac
Luck or the result of research?


Today we posted...


Small Drop & oscilation to come but when 1,517 is below us, The Bulls have Wind. {in thier sails that is}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,694
  • May 21, 2011 5:07pm May 21, 2011 5:07pm
Quoting XTrade
I'm not too worried about that minor line....
The Bear Diag I speak of is Parallel to the Diagonal through the Lower Orange Box.
The Parallel 'Grid' is spaced Equidistant at the value of the Hieght of the Orange Box.
I use Line Charts on Close to assist in defining the Box.
Attached Image (click to enlarge)
Click to Enlarge Name: 1,600 dollar gold daily may 21 11 line chart.gif Size: 37 KB

This is not the ICCE thread so I will stop there.
  • #6,695
  • May 21, 2011 5:12pm May 21, 2011 5:12pm
interesting - not something i'm familiar with......would appreciate further explanation:

Q. how do you choose your orange box?
Q2. am i missing something as there does seem to be some price correlation with your lines but it is fairly intermittent to my untrained eye?

thanks

beeb
  • #6,696
  • May 21, 2011 6:02pm May 21, 2011 6:02pm
ICCE has been available to all for just over 2 Years.
Ive been using it's concept for almost a dozen.
The Electronic 'Hood helped me Code it for MT4 & therefore, I share it for free.
E-Start:
http://www.forexfactory.com/showthread.php?t=162886
Read the first post & take heed. I can afford Legal Advice.

After that; Glean what you can from subsequent.
Mainly supported in the infamous PF but here's the gist.

50% Fib: An anomolie that we, as Traders, observe. That = Psych.

ICCE was the final blow that eradicated Fundie's from my trading proccess.
This thread, perhaps, has a little too much advice for ICCE followers to observe. I doubt we will see some {any} of them Post here.

Not a Slam. Just an observation

Awe rre best. BMc
  • #6,697
  • May 21, 2011 6:15pm May 21, 2011 6:15pm
Quoting beeb
interesting - not something i'm familiar with......would appreciate further explanation:

Q. how do you choose your orange box?
Q2. am i missing something as there does seem to be some price correlation with your lines but it is fairly intermittent to my untrained eye?

thanks

beeb
To your point Beeb.
Firstly: I'm only responding because you deserve it. Many here post $#it & move along. I deem you different.

I am willing to tutor you through ICCE if you can assure me that it will remain in the Public Domain.

B

I'm not attempting to alter your Trading Tech. Just asking if I can add another Arrow to your quiver.
  • #6,698
  • May 22, 2011 2:27am May 22, 2011 2:27am
Bemac, please point out those who are disruptive in this thread and clog it up with $#!T.

I am tired of it and no longer going to tolerate it.

I have posted rules. I encourage all of you (you know who you are ) to add to them if there is something I have missed.

Thus, I ask please PM me the names of those who are clogging up the flow here. I would like to see you posting here more often, as I have seen many other quality posts of yours in various other threads.

One person has been permanently banned so far and another just took a week vacation.

SO I MEAN BUSINESS HERE.

This is not self censoring or because I "just don't like someone" Every one hear is entitled to their view and ability to voice it.( Difference of opinion and info processing is what makes a market in the first place.) They are not entitled to insult or criticize other non constructively. Wild punt, make ridiculous claims with no backup. Guide the newbies into a blown account, etc, etc.

This is not a high school class or a day care center and I am not a baby sitter. My patients have ran out.

Thank you for you recent contributions.
Sincerely,
XTrade.

Quoting Bemac
To your point Beeb.
Firstly: I'm only responding because you deserve it. Many here post $#it & move along. I deem you different.

I am willing to tutor you through ICCE if you can assure me that it will remain in the Public Domain.

B

I'm not attempting to alter your Trading Tech. Just asking if I can add another Arrow to your quiver.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,699
  • May 22, 2011 3:55am May 22, 2011 3:55am
Bemac - thanks for your reply - I don't need to be encouraged not to spread your method by legal threats

It doesn't look like something that would compliment my trading method - I still don't see any great correlation between your lines and price, but maybe that's just me........

Thanks anyway

beeb
  • #6,700
  • May 22, 2011 8:49pm May 22, 2011 8:49pm
Cool:
Long Story but the End reads...

Cool:

B
Best for the thread.
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