XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 340 | Metals Mine

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

  • #6,781
  • May 26, 2011 4:43am May 26, 2011 4:43am
Gold and silver profit taking in place. Gold manage to hit 1519 and silver 36.6.

Beeb, Is the pitchfork support line broken yet? Or its still intact?
  • #6,782
  • May 26, 2011 4:44am May 26, 2011 4:44am
the Silver move these 3days was quite weird to be exact, hardly any retracement.
I prefer a slower move with strong dip being bought up ( strong V shape, looks like a tail at higher timeframe)

Today is US unemployment claims newsday, prepare for some crazy volatility.

my position is negative 160pips at the moment, sweat.....
  • #6,783
  • May 26, 2011 5:08am May 26, 2011 5:08am
Long silver @37.14 after large 1 hr pin bar on the 36.48 level, which was resistance now support. Stoploss 36.10, target 39 ish
  • #6,784
  • May 26, 2011 5:18am May 26, 2011 5:18am
major mental support is 1519, 1510, 1502, 1493

i bet
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  • #6,785
  • May 26, 2011 6:04am May 26, 2011 6:04am
Quoting leandar
major mental support is 1519, 1510, 1502, 1493

i bet
1520 1510 1490 sound more like minor psychological levels

1500 major psych level.
  • #6,786
  • May 26, 2011 6:28am May 26, 2011 6:28am
Quoting highlander2
Long silver @37.14 after large 1 hr pin bar on the 36.48 level, which was resistance now support. Stoploss 36.10, target 39 ish

Wide range on weekly.
It is too early for longs.
I'm going to wait for 35 or even 34 for long again.

Today i wait for a upmove not higher than 37.7 then down again.

PS I'm not handy with order's layout, but it cost your attention:
http://fxtrade.oanda.com/analysis/hi...al-open-orders

PPS Today's cumulative gold orders on pic.
Attached Image (click to enlarge)
Click to Enlarge Name: ocog.JPG Size: 58 KB
  • #6,787
  • May 26, 2011 6:29am May 26, 2011 6:29am
Quoting six gun
1520 1510 1490 sound more like minor psychological levels

1500 major psych level.
exactly
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  • #6,788
  • May 26, 2011 6:54am May 26, 2011 6:54am
GC 240 min

http://www.screencast.com/t/5hTnlLi3r

beeb
  • #6,789
  • May 26, 2011 7:58am May 26, 2011 7:58am
Nice little morning dip! Poor USD data should have provided some with a nice entry.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,790
  • May 26, 2011 8:00am May 26, 2011 8:00am
pin bar forming in XAG H4?
"The reason I was born and came into the world is to testify to the truth."
  • #6,791
  • May 26, 2011 8:01am May 26, 2011 8:01am
Quoting harvest3r
pin bar forming in XAG H4?

bit early for that isn't it? you've got three hours to go on this bar - if i understand the concept correctly ....lol


beeb
  • #6,792
  • May 26, 2011 8:07am May 26, 2011 8:07am
Quoting beeb
bit early - you've got three hours to go on this bar - if i understand the concept correctly ....lol
3 hours? The candle just closed on my chart. Would it be possible that the candle times are not standardized? That would be a huge mess...
"The reason I was born and came into the world is to testify to the truth."
  • #6,793
  • May 26, 2011 8:09am May 26, 2011 8:09am
Quoting harvest3r
3 hours? The candle just closed on my chart. Would it be possible that the candle times are not standardized? That would be a huge mess...
Depends on your broker mate...some open earlier than others.
Less is more...
  • #6,794
  • May 26, 2011 8:09am May 26, 2011 8:09am
Quoting harvest3r
3 hours? The candle just closed on my chart. Would it be possible that the candle times are not standardized? That would be a huge mess...
H4 candles depends on broker's local time. So it is different.
  • #6,795
  • May 26, 2011 8:09am May 26, 2011 8:09am
Quoting harvest3r
3 hours? The candle just closed on my chart. Would it be possible that the candle times are not standardized? That would be a huge mess...

ah - that would explain things - thanks

beeb
  • #6,796
  • May 26, 2011 8:18am May 26, 2011 8:18am
Quoting fawaol
So i'll ask you again
we had our confirmation a couple days ago with a close above on the daily and the same with the following day.
next we look at the weekly, willweget a weekly close above?
time will tell.
In mean time with the stronger weekly trend guide 38.44 -54 area reached we took partials and looked for direction.
bounce up from daily trend guides 1514 and 36.67 noted.
  • #6,797
  • May 26, 2011 8:19am May 26, 2011 8:19am
Quoting ajantala
Depends on your broker mate...some open earlier than others.
Nice to know it.

That's an absolutely stupid feature... I mean, depending on the price action we can have different candle formations for different brokers. In this case, how can I trust the candle interpretation theories? Too confusing.
"The reason I was born and came into the world is to testify to the truth."
  • #6,798
  • May 26, 2011 8:23am May 26, 2011 8:23am
Quoting lilpip
we had our confirmation a couple days ago with a close above on the daily and the same with the following day.
next we look at the weekly, willweget a weekly close above?
time will tell.
In mean time with the stronger weekly trend guide 38.44 -54 area reached we took partials and looked for direction.
bounce up from daily trend guides 1514 and 36.67 noted.
Ok, ok.. i may even consider today's H4 pin to 36.2 as a confirmation.
I just wanted to notice that there is some targets lower & that is too early to load longs with targets like 45$, 50$ or 100$
  • #6,799
  • May 26, 2011 8:29am May 26, 2011 8:29am
Quoting harvest3r
Nice to know it.

That's an absolutely stupid feature... I mean, depending on the price action we can have different candle formations for different brokers. In this case, how can I trust the candle interpretation theories? Too confusing.

agree harvest - maybe that's why i could never come to terms with this pinbar concept....

beeb
  • #6,800
  • May 26, 2011 8:48am May 26, 2011 8:48am
breaking news : BOE Tucker very worried about inflation.

why GOLD down ??? if inflation come GOLD must UP, correct me if i am wrong.
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