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

  • #6,701
  • May 22, 2011 10:24pm May 22, 2011 10:24pm
No feel free to post, forgive my ignorance but what is ICCE an anagram for?


Also correct me if I'm wrong, but it seems the line of discussion may indeed correspond to Gold Price, yet it is chosen from the Grid?
Is this correct.?

Quoting Bemac
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.
Attachment
This is not the ICCE thread so I will stop there.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,702
  • May 22, 2011 11:25pm May 22, 2011 11:25pm
Quoting XTrade
No feel free to post, forgive my ignorance but what is ICCE an anagram for?
Intake
Compression
Combustion
Exhaust

4 Stroke Market Cycles.


Quoting XTrade
Also correct me if I'm wrong, but it seems the line of discussion may indeed correspond to Gold Price, yet it is chosen from the Grid?
Is this correct.?
Simply that.
  • #6,703
  • May 22, 2011 11:43pm May 22, 2011 11:43pm
Quoting LasVahGoose
Here is one for you Bemac. Price High 49.77 - ICCE 100% 49.73 5 pip difference, that is pretty much to the pip as far as I'm concerned. Curve fitted after the fact? Yeah, I guess one could say that, but the map looks pretty clear. Back to channel. Just a matter of getting some price action at these levels, maybe even down at 38%. Waiting...

.
Here is an update on my old ICCE post. the 38.2% has held quite well I'd say.


.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-05-22_2341.png Size: 38 KB
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #6,704
  • May 22, 2011 11:52pm May 22, 2011 11:52pm
daily highs friday were hit at 1515 along with a weekly close above weekly pivot 1510. question is does she rotate back toward daily pivot or start trending north ?
looking at 1516 to 1521 as an area of extra interest.
1516 as weekly pivot
1521 as daily high.
gold daily
1521
1500
1479
  • #6,705
  • Edited 12:25am May 23, 2011 12:07am | Edited 12:25am
Quoting LasVahGoose
Here is an update on my old ICCE post. the 38.2% has held quite well I'd say.


.
I like the couple higher timeframe pictures that were posted.
  • #6,706
  • May 23, 2011 7:43am May 23, 2011 7:43am
The market do not move ??
Keep Simple...!
  • #6,707
  • May 23, 2011 8:22am May 23, 2011 8:22am
how can you say market is not moving in my chart i see every tick is working
Trading by EA
  • #6,708
  • May 23, 2011 9:13am May 23, 2011 9:13am
here's what i've been following today - GC 10min Andrews' fork in black and unmod schiff in yellow both showing good action

beeb
Attached Image (click to enlarge)
Click to Enlarge Name: gc10.jpg Size: 85 KB
  • #6,709
  • Edited 1:57pm May 23, 2011 1:50pm | Edited 1:57pm
It's funny how these chart patterns have a tendency to repeat themself.

In April I posted a symmetrical triangle which broke into a bullish flag.

Now again in May we have the same thing. THe latest SYM T has created a recently broken bull flag, noted on chart below.

Only difference there was a mini inverse head and shoulders inside the triangle.

Here is the chart.

You can see another entry close to the bottom of the flag.

Let's see how it pans out. The rough target for the flag is appx. 20 to 22 bucks from around 1507 or mid flag Or appx 1526 the oruple line. There is some prior resistance there as well
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,710
  • May 23, 2011 4:51pm May 23, 2011 4:51pm
http://traderdannorcini.blogspot.com...ish-pound.html
  • #6,711
  • May 23, 2011 6:13pm May 23, 2011 6:13pm
Dose it have enough power to pass the resistance belt/area ahead or not?

Attached Image (click to enlarge)
Click to Enlarge Name: gold h1 23 may 2011 a.gif Size: 33 KB


in a closer one

Attached Image (click to enlarge)
Click to Enlarge Name: gold h1 23 may 2011 b.gif Size: 32 KB


in case of retracement , there are 3 support line below the price
I used to be somebody , now I am somebody else
  • #6,712
  • May 23, 2011 7:47pm May 23, 2011 7:47pm
Loaded for Bear meat.
Not quite there but awfully close to loading up.
If this move holds, 1,565 is easy & New Highs are on the horizon.
Attached Image (click to enlarge)
Click to Enlarge Name: 1,600 dollar gold daily may 23 11.gif Size: 25 KB


B
  • #6,713
  • May 23, 2011 8:25pm May 23, 2011 8:25pm
Quoting Bemac
Loaded for Bear meat.
Not quite there but awfully close to loading up.
If this move holds, 1,565 is easy & New Highs are on the horizon.Attachment

B
I have a different ICCE Box, but I almost get the same bear diag.

.
Daily and Weekly
.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-05-23_2020.png Size: 59 KB
Click to Enlarge Name: 2011-05-23_2021.png Size: 65 KB
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #6,714
  • May 23, 2011 9:29pm May 23, 2011 9:29pm
Quoting LasVahGoose
I have a different ICCE Box, but I almost get the same bear diag.

.
Daily and Weekly
.
Hey Goose, nice to cross avenues again.

Bottom chart looks like a No Brainer. UP.

B
No sense posting it if I don't believe it...
  • #6,715
  • Edited 11:59pm May 23, 2011 10:59pm | Edited 11:59pm
Quoting LasVahGoose
I have a different ICCE Box, but I almost get the same bear diag.

.
Daily and Weekly
.
seeing the same thing at the 1508-1517 area.
a couple days last week she hit daily lows and rotated back above 1485 and as shes coming from monthly trend guide (1485) she is acting like she wants to climb north with a weekly close above 1508-10 area ( which spells bull to me).
so taking a look at the daily she rotated back from daily high area to daily trend guide or pivot at 1500 area and back up as she sure acting like she wants to climb on the daily( as that spells bull on the daily however bumped into 1516 at the daily close.).
For this week.
looking at the stronger weekly trend we have 1516 as the pivot, bias is up from 1516 and also down from 1516 this week. As mondays open we sit watching the 1516 area, eyes open watching the 5 min..
looking at the daily for tue.
1523-25
1503-06
1479
with eye on 1491
silvr daily
35.76-96
3459
3321
with eye on 34.22
  • #6,716
  • Edited 3:42am May 24, 2011 3:12am | Edited 3:42am
Close up view of GC 240min showing three unmod schiffs defining price pretty well. For anyone wondering about the power of forks, the 1472 low was suggested before it happened (post #6682) as a result of the blue median line touch at 1529 and because of touches on the yellow fork in early april..........

beeb
Attached Image (click to enlarge)
Click to Enlarge Name: gc240-1.png Size: 34 KB
  • #6,717
  • May 24, 2011 4:18am May 24, 2011 4:18am
Seems that USDX is running out of gas and also out of monthly range, so I'd expect the uspide to be very limited last days of the month. Will that be enough for gold to recover? Currently above MP and WP, so can only enter long, however still looking for a decent entry. Market doesn't offer much momentum.

Here's the USDX H4

http://oi53.tinypic.com/99m2ad.jpg
  • #6,718
  • May 24, 2011 4:23am May 24, 2011 4:23am
Ruff,

What levels you see for entry points for the metals, I liked your idea last time.
  • #6,719
  • May 24, 2011 4:32am May 24, 2011 4:32am
Well, that's my point exactly, kinda hard to figure an entry now, best was week open when PA bounced off the LML and cleared WP @ 1499, it's easier said than done though. Currently I'd look PA to clear previous high @ 1526 add 2 dollars for safety and go long with tight SL, gold naturally likes to move in chunks of 25-50, so it respects those levels.

However almost a better strategy is to wait and see if PA can hit 1550 and look to go short @ 786 fibo level and confluence of PA getting rejected @ ML of the upwards sloping fork. I think this is a better R:R trade compared to the long trade, however that's for everyone to decide for himself.

here's the chart

http://oi52.tinypic.com/2dj3nyp.jpg
  • #6,720
  • May 24, 2011 4:39am May 24, 2011 4:39am
!528 Broken rez if it holds - not a bad entry, it should flip support.

Depends on what your goal is though ot "style"
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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