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

now there's a surprise - marginal new high, suck in the break-out traders, then down..........

beeb
Tested new ground and pulled back a bit
but it looks like we're holding a new level here,
close looks ok.
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You can remain irrational longer than you can remain solvent.
Hi:
By trading with Gold Spot....
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Quoting lilpip
Although weekly high areas have been achieved for the most part ($1628 and $41.73) jury is still out on direction.
Will it be rotation back or breakout ?
Looking at the dailys, once again the rotation back to the daily trend guide areas hold so they act like they want to keep it north. what ever the case is she has given us a heads up, a drop below is the first sign of heading south.
wed.gold
1628
1607
1586 with eye on 1594 response
wed. slvr
41.44
40.01
38.58
daily highs and rotation back to daily trend guide with bounce up is noted once again.
looking at the thur. daily
1627-30
1608
1586
daily slvr
41.45
40.15
38.85
the common pattern of extending out to weekly highs achieved but no rotation, the market isnt convinced by the debt double talk.

what it be trending or rotate ?
coming down to a squeeze play, the start of the new monthly timeframe should also help to get things moving.
a monthly close above 1551-66 is great news for the bulls, above 1594 and its even better.
Above monthly trend guide 38.91 confirms the spelling of bull @ the quarterly trend guide $35.38.
The last time we started the quarter at the quarterly trend guide was when we started the 1st quarter at $26.
hold on to those orders and keep stacking that physical.
cheers
Quoting XTrade
Well what is your entry? Dip is being bought.
40.87 entered, out today at 40.42.
boy silver has been suppressed today and has some serious room to the upside if the US data is bad.

waiting patiently with my longs from 35.1 and 39.8 still
Quoting Mitchoss
boy silver has been suppressed today and has some serious room to the upside if the US data is bad.

waiting patiently with my longs from 35.1 and 39.8 still

Mitch imho it's the effects of opex - with sellers trying to influence call buyers not to exercise....

beeb
Hi Beeb!

sorry, but could you please elaborate on this?

Thanks bud

Quoting beeb
Mitch imho it's the effects of opex - with sellers trying to influence call buyers not to exercise....

beeb
mitch

basically those that have bought calls have to decide whether to exercise or not. if the price is pushed down below their exercise/breakeven they will not do so....

sorry have to dash - suggest you do a bit more reading/investigating.....

beeb
Price been bouncing between approximate 1623 and 1607.
Seem good price to buy at 1605.
Stoploss in place.

Now i improving on my entry point. but
Always unsure whether to take profit or ride as much as possible.
Anyone can help abit on taking profit. Its a subjective question of no right or wrong. But how to optimise.

Or it depend on whether i want long term or short term holding.

Lets see how the price react at 1623 if it can reach. If it break. then i hold and build a strong foundation. If only i brought at 1480 level. Then i think my decision is easier
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  • Post #8,411
  • Quote
  • Edited Jul 29, 2011 12:10am Jul 28, 2011 11:24pm | Edited Jul 29, 2011 12:10am
gold closing at daily pivot area of 1608.
bias is up from 1608 and watching how 1615 responds.
although we keep in mind the normal rotation from weekly highs back to the new monthly timeframe support.
then again if were watching the 5 min. and 1615 says go up and we manage to get to 1628 again fri. eyes are open for a breakout.
fri. daily
1628-30
1608
1586
golds sister silver also turned around when gold hit 1628 as she was about a few cents short of her projected highs this week of 41.78 area. A drop below daily trend guide 40.15 was noted thur.
trend guide for day is 39.80-99
41.28
39.80-99
38.70-91
Quoting Mitchoss
Hi Beeb!

sorry, but could you please elaborate on this?

Thanks bud

for Mitch:

http://harveyorgan.blogspot.com/

beeb
Hi mate!

Cheers for that, good read.
Should be an interesting day today. no vote again.

Quoting beeb
for Mitch:

http://harveyorgan.blogspot.com/

beeb
I have got a strong feeling that something should give away this weekend. The markets are closed...the deadline is approaching..and the bankers like to catch people sleeping.

For now looking to hit 1635.
Trends I Love Finding
Back at 1625 can we pop it! US GDP WEAK!

Look at swissy! Just missed the short.... had to run out. damn.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
I think i can keep my 1605 buy. No urgent to close for profit. Such strong up movement. would be another good buy if price ever move down to 1623.

Aiming for 1623...
Daily charts make me believe that gold will not break 1650 (if it is) without getting back down to 1603. Lets see about this view.

Reason: EW theory 5 waves on the daily completes some patterns.
Trends I Love Finding
hi tilf,

my chart candle did show it ever move down to 1603.
before it move up and consolidate and then now jack up pass the consolidation line. i posted my chart on previous page

you mean it need to come down again to 1603?
can show the chart.
Quoting jinsen
hi tilf,

my chart candle did show it ever move down to 1603.
before it move up and consolidate and then now jack up pass the consolidation line. i posted my chart on previous page

you mean it need to come down again to 1603?
can show the chart.
Here is the chart. I read about a rule in elliott wave that wave 3 cannot be the shortest so according to that 1650 will not exceeded.
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Trends I Love Finding
Quoting Tilf
Here is the chart. I read about a rule in elliott wave that wave 3 cannot be the shortest so according to that 1650 will not exceeded.
You might be right with labeling for waves 1 and 2 but wave 3 should at least be at long as wave 1 so there "should" be much more to go before wave 3 completes.
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