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

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

#6,801
May 26, 2011 8:49am May 26, 2011 8:49am

beeb
| Commercial User | Joined Oct 2010 | 1,778 Posts

Quoting leandar

Disliked

breaking news : BOE Tucker very worried about inflation.

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

Ignored

it's down about $10 - that's not DOWN by any rational measure.......

beeb

#6,802
May 26, 2011 9:17am May 26, 2011 9:17am

highlander2
| Joined Jul 2010 | Status: . | 893 Posts

Quoting harvest3r

Disliked

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.

Ignored

Most traders are using 5 day charts with NY close these are the best for trading PA. GMT close charts are considered inferior.

#6,803
May 26, 2011 9:31am May 26, 2011 9:31am

beeb
| Commercial User | Joined Oct 2010 | 1,778 Posts

small 20min GC downfork:

http://www.screencast.com/t/QEr9Tk16

beeb

#6,804
Edited 10:42am May 26, 2011 10:14am | Edited 10:42am

lilpip
| Joined Aug 2007 | Status: Trader | 2,219 Posts

Quoting fawaol

Disliked

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$

Ignored

I post areas of extra interest day to day and where I would consider enter and exit areas depending on candle formation in area.
for example todays post a heads up to a possible move down because of 1 coming up to the stronger weekly time frame cycle with weekly pivot at 38.44 and 2 daily highs reached.
with move down from weekly its also have a rotation back to daily pivot or trend guide where one would reenter as bias for day is up from 36.67 and down from on the daily.
However we keep in mind the stronger weekly trend guide at 38.44 where bias is down and also on daily its down from 38.54.
to sum it up the boat was missed, so we watch PA @ 36.67 or your 36.2 area for direction of rest of day.

eye on weekly gold weekly pivot 1516 and 1514 daily pivot maybe possible clue as we watch 36.67 area.
long term
one thing is for certain we need to get on the north side of the weekly and monthly trend guide (not just dailys) before test of yearly breakout of 34.60 is confirmed. hopefully we got some buys in at 32.40-34.60 area.

#6,805
May 26, 2011 10:59am May 26, 2011 10:59am

harvest3r
| Joined Aug 2010 | Status: Forex sniper | 381 Posts

Quoting beeb

Disliked

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

Ignored

Actually, such issue dismisses ANY concept of candle interpretation. I'm not saying that it's worthless or that it doesn't work - there are many people trading profitably with it, for instance we have Highlander in our thread. I'm just pointing a conceptual... flaw? Maybe that's not the right word. Anyway, there is something ilogical. The candle shape seems to be a random phenomena - by shifting the starting time, we might get a completely different shape. I don't get it.

harvest3r, the iconoclast :-)

"The reason I was born and came into the world is to testify to the truth."

#6,806
May 26, 2011 11:19am May 26, 2011 11:19am

fawaol
| Joined Oct 2010 | Status: insighter | 268 Posts

Quoting harvest3r

Disliked

Actually, such issue dismisses ANY concept of candle interpretation. ...................................................................... The candle shape seems to be a random phenomena - by shifting the starting time, we might get a completely different shape. I don't get it.

Ignored

Why discuss so much?
Just take & compare. I made so some time ago, i used 3 different brokers with
different shift & i can say that h4 & daily candelstick configs (csc) looks really
different for the 1st glance. But every csc has it's own idea inside, so if you
keep it in mind, you will never miss.

#6,807
May 26, 2011 11:35am May 26, 2011 11:35am

mmudasir
| Commercial User | Joined Jan 2011 | 613 Posts

Quoting fawaol

Disliked

Why discuss so much?
Just take & compare. I made so some time ago, i used 3 different brokers with
different shift & i can say that h4 & daily candelstick configs (csc) looks really
different for the 1st glance. But every csc has it's own idea inside, so if you
keep it in mind, you will never miss.

Ignored

i am agree with you

Trading by EA

#6,808
May 26, 2011 12:05pm May 26, 2011 12:05pm

mmudasir
| Commercial User | Joined Jan 2011 | 613 Posts

is bull is taking control again?in gold

Trading by EA

#6,809
May 26, 2011 12:14pm May 26, 2011 12:14pm

LasVahGoose
Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts

Quoting harvest3r

Disliked

Actually, such issue dismisses ANY concept of candle interpretation. I'm not saying that it's worthless or that it doesn't work - there are many people trading profitably with it, for instance we have Highlander in our thread. I'm just pointing a conceptual... flaw? Maybe that's not the right word. Anyway, there is something ilogical. The candle shape seems to be a random phenomena - by shifting the starting time, we might get a completely different shape. I don't get it.

harvest3r, the iconoclast :-)

Ignored

Location, Location, Location. You look for candle patterns at good locations. S/R is always the same with any broker. 35.00 is 35.00 for example. Also what maybe a single bar pattern on one broker maybe a 2 bar pattern on another broker or even 3 bar pattern. You take things in the aggregate. A pinbar on one broker, a bullish outside bar on another broker both at the same great S/R level pretty much tells you the same information.

At the end of the day candle patterns are only secondary to S/R, they help in the confirmation. More Art than Science, but some people don't operate that way and I understand that. Everyone has to figure out what works for them.

Don't wish it were easier, wish you were better. ~ Jim Rohn

#6,810
May 26, 2011 12:35pm May 26, 2011 12:35pm

beeb
| Commercial User | Joined Oct 2010 | 1,778 Posts

Quoting mmudasir

Disliked

is bull is taking control again?in gold

Ignored

Be aware that rollover is now taking place from the old to the new futures contract and that both London and New York are on holiday on Monday. Therefore thin markets.......

beeb

PS the bulls have been in control for a decade (with a couple of blips) - you must specify your timescale or your posts are meaningless

#6,811
May 26, 2011 12:41pm May 26, 2011 12:41pm

ajantala
| Joined Apr 2008 | Status: Trader | 359 Posts

Which way is the market going to head? North or South? Still too early to tell...best to take XTrade's advice...Be patient...don't overtrade.

Less is more...

#6,812
May 26, 2011 1:01pm May 26, 2011 1:01pm

lilpip
| Joined Aug 2007 | Status: Trader | 2,219 Posts

Quoting beeb

Disliked

PS the bulls have been in control for a decade (with a couple of blips) - you must specify your timescale

Ignored

nominated for quote of the week.

#6,813
May 26, 2011 4:30pm May 26, 2011 4:30pm

highlander2
| Joined Jul 2010 | Status: . | 893 Posts

I would liked to have seen gold and silver higher tonight. Siver looks like it may come back down for a retest of 36.25, just have to wait and see, the daily is not very pretty.

#6,814
May 26, 2011 4:51pm May 26, 2011 4:51pm

JeremyWS
Joined Oct 2010 | Status: Trader | 1,654 Posts

Quoting JeremyWS

Disliked

just to say i have a Short XAU/USD @ 1520 still, hoping for 1 last test of 1500

Ignored

Closed at $1516.5, could probably have gotten more out of it but you dont go broke taking profits so i'm happy

#6,815
May 27, 2011 3:17am May 27, 2011 3:17am

beeb
| Commercial User | Joined Oct 2010 | 1,778 Posts

Quoting JeremyWS

Disliked

Closed at $1516.5, could probably have gotten more out of it but you dont go broke taking profits so i'm happy

Ignored

Nice one

beeb

#6,816
May 27, 2011 6:53am May 27, 2011 6:53am

FX4Newbies
| Commercial User | Joined Apr 2010 | 2,840 Posts

Quoting highlander2

Disliked

I would liked to have seen gold and silver higher tonight. Silver looks like it may come back down for a retest of 36.25, just have to wait and see, the daily is not very pretty.

Ignored

Was looking at these charts earlier. The market is always right