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

  • #9,541
  • Aug 30, 2011 4:09pm Aug 30, 2011 4:09pm
Here's price being fitted by the forks IMO far better - the blue fork marks the general uptrend (admiitedly with an A not at the absolute swing low - there's the art). The yellow downfork is similar to yours - with the same A and C but the B is the swing low and I think defines price better.

There is no "right" and " wrong" so use what feels best for you...

beeb
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  • #9,542
  • Aug 30, 2011 4:10pm Aug 30, 2011 4:10pm
Quoting beeb
A critique would be that you are drawing a downfork in an uptrending market - there's nothing wrong in that per se if all you are doing is looking for resistances and supports in the general uptrend.

Also you have not gone from a swing high to a swing low to a swing high - there is as much art as science in forks as I have said many times - but take this the right way - technically your fork is somewhat shaky.....

Keep practicing - and it would help if it was more visible....

beeb
Thanks for the comments.
I will try to get better at it.
I use orizontal support and resistance a lot becouse i they work in my charting method.
But if pitchforks work as good as you say then that would be great to use it more often.
  • #9,543
  • Aug 30, 2011 4:26pm Aug 30, 2011 4:26pm
Quoting longshot_nl
Thanks for the comments.
I will try to get better at it.
I use orizontal support and resistance a lot becouse i they work in my charting method.
But if pitchforks work as good as you say then that would be great to use it more often.

You're welcome

But you have to find a method that works for you - there's no point in copying what I do if it does not "resonate" for you........

beeb
  • #9,544
  • Aug 30, 2011 4:36pm Aug 30, 2011 4:36pm
Quoting beeb
You're welcome

But you have to find a method that works for you - there's no point in copying what I do if it does not "resonate" for you........

beeb
I have a working method.
But trading is learning.
I enjoy learning stuff like this, it resonates with me.
I like this pitchfork, it fits nicely.
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  • #9,545
  • Aug 30, 2011 4:43pm Aug 30, 2011 4:43pm
Quoting longshot_nl
I have a working method.
But trading is learning.
I enjoy learning stuff like this, it resonates with me.
I like this pitchfork, it fits nicely.

Again, to be picky - and I guess that's what you want - by the looks of it you have not started the fork from a swing low....Therefore the lines are more action/reaction lines........again nothing wrong with that but technically not a "proper" fork

From a personal point of view I would want to see more bars on a 240 min chart to get the feel of it better - for the time that you have shown I would probably try to employ a 20 min chart to have more bars. I look for quartile action and sliding parallel l action too and need more space for them to play out. But as I say - that's my style....

beeb
  • #9,546
  • Aug 30, 2011 4:58pm Aug 30, 2011 4:58pm
Quoting beeb
Again, to be picky - and I guess that's what you want - by the looks of it you have not started the fork from a swing low....Therefore the lines are more action/reaction lines........again nothing wrong with that but technically not a "proper" fork

From a personal point of view I would want to see more bars on a 240 min chart to get the feel of it better - for the time that you have shown I would probably try to employ a 20 min chart to have more bars. I look for quartile action and sliding parallel l action too and need more space for...
started from a swing low and more candles..
this seems a bit forced though.
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  • #9,547
  • Aug 30, 2011 5:00pm Aug 30, 2011 5:00pm
Quoting longshot_nl
started from a swing low and more candles..
this seems a bit forced though.

Look again at the chart I posted that covers the same period.
I "cheated" on the swing low but the B and C are appropriate..

Having drawn the fork the moves in price appear to me to have a "rhythm" or "harmony" becoming apparent....

beeb
  • #9,548
  • Aug 30, 2011 5:11pm Aug 30, 2011 5:11pm
Quoting beeb
Look again at the chart I posted that covers the same period.
I "cheated" on the swing low but the B and C are appropriate..

Having drawn the fork the moves in price appear to me to have a "rhythm" or "harmony" becoming apparent....

beeb
ok i go wait and see how this plays out.
you got my vouch.
Thanks again.!
  • #9,549
  • Aug 30, 2011 5:15pm Aug 30, 2011 5:15pm
i got the whole channel now.
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  • #9,550
  • Aug 30, 2011 5:40pm Aug 30, 2011 5:40pm
i think silver might go to the lower fork line...
it did in my previous chart.
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  • #9,551
  • Aug 30, 2011 5:53pm Aug 30, 2011 5:53pm
Quoting XTrade

realjumper, had you read beeb's posts you would see clear backup for his reasonings, you don't need to agree with them or anyone for that matter, yet they are there.
I made it quite clear that I read his posts......my comments were never about his reasoning's, they were more about his inability to listen to other peoples points of view.....especially regard the gold 'bubble' post. It's obvious he want's to be right all the time and wants to have the last word. Humility, and being open to other peoples ideas are the signs of a trader who is on the right track.......big ego traders won't last.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,552
  • Aug 30, 2011 5:59pm Aug 30, 2011 5:59pm
Quoting patguchi
you posted in this forum that takes advantage of gold's bull run. do you really expect that no one will contradict you for the sake of healthy discussion when you make a claim or assertion against what most think?

of course it is expected that discussions maybe relentless but that doesn't mean it's a pissing contest. it's about aiming to COVER ALL BASES. this is necessary because (i am assumming) most in this forum make a living out of trading gold. don't get me wrong... i accept that you could be right in your claims or assertions, but that comment...
I don't apologies for calling this muppet what he is. Have a look at his posts and you'll see what I'm saying.....There are some great traders on FF, most of them are humble, helpful and open to other peoples ideas, because with trading, the learning *never stops*. When the trader thinks he knows it all, it's often a sign that he knows very little.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,553
  • Aug 30, 2011 8:45pm Aug 30, 2011 8:45pm
Quoting realjumper
I don't apologies for calling this muppet what he is. Have a look at his posts and you'll see what I'm saying.....There are some great traders on FF, most of them are humble, helpful and open to other peoples ideas, because with trading, the learning *never stops*. When the trader thinks he knows it all, it's often a sign that he knows very little.
I'm not on you or Beeb's side - I'm mostly here to see people's views on gold for the day, fighting is wasting our trading time, believe me on that!

I like your last sentence! Stealing it off ya! Gracias!
trading is my zen
  • #9,554
  • Aug 30, 2011 8:51pm Aug 30, 2011 8:51pm
Quoting ShirleyLo
I'm not on you or Beeb's side - I'm mostly here to see people's views on gold for the day, fighting is wasting our trading time, believe me on that!

I like your last sentence! Stealing it off ya! Gracias!
De nada Shirley, de nada
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,555
  • Edited 10:18pm Aug 30, 2011 9:45pm | Edited 10:18pm
Quoting lilpip
To start the day eyes will be open looking for days direction from 1798-1801 area and will be noting 1840 or 1710 response.
a bounce down from daily guide 41.44 and daily close at weekly guide 40.86 is noted
bounce down from 1840 as she moved up off of weekly trend guide 1798 and daily 1801 is noted.
silver eased up about the same time gold did.
By the way she closed she acts like she wants to climb wed.
1872
1797
1769
with eye on 1851 response.
silvr wed. bias is up from 40.81-86 area.
42.65
40.81-86
38.97
  • #9,556
  • Edited 10:26pm Aug 30, 2011 10:09pm | Edited 10:26pm
Quoting realjumper
I don't apologies for calling this muppet what he is. Have a look at his posts and you'll see what I'm saying.....There are some great traders on FF, most of them are humble, helpful and open to other peoples ideas, because with trading, the learning *never stops*. When the trader thinks he knows it all, it's often a sign that he knows very little.
again it's ABOUT COVERING BASES. there are just too many factors to be considered so naturally a lot of them will NEED to be surfaced during discussions. if you think a few post is enough to cover where gold is headed then you have gravely mistaken. yes the learning never stops. but the moment you called "ego" into the picture that ended for you.

fact of the matter is we newbies NEED our mentors to be relentless in their discussions, straight forward/direct to the point, aiming to cover all bases. this is because as long as they are doing this WE ARE LEARNING!!! we get to read about discussions. but these things have nothing to do with ego and very far from it.

you talk about humility? where's the humility in calling "ego" into the picture? if you don't like what he was saying then isn't it more humble to just keep quiet?

if you can't take criticism with your claims then i'd say you're the one who's egotistic. do you expect peeps in this forum to just accept whatever you said as truth without challenging your views? it was a discussion about gold and you drew first blood with your ego comment. that's just immature.

not going to apologies? that's just not humble
  • #9,557
  • Aug 30, 2011 10:31pm Aug 30, 2011 10:31pm
Hey all lets leave mr. jumper alone, I think things are a bit blown out of sorts a bit.
He started off on the wrong foot by walking in the room and pissin on it. Ive told him where the bathroom is, let him clean himself up a bit Im sure he will come back refreashed and will have some positive input.
After all anyone with 30 years of professional experience at the reigns trading and no burnout he cant be all that bad.
I make a motion for him to put his best foot forward.
cheers
  • #9,558
  • Aug 30, 2011 10:34pm Aug 30, 2011 10:34pm
Quoting patguchi
again it's ABOUT COVERING BASES. there are just too many factors to be considered so naturally a lot of them will NEED to be surfaced during discussions. if you think a few post is enough to cover where gold is headed then you have gravely mistaken. yes the learning never stops. but the moment you called "ego" into the picture that ended for you.

fact of the matter is we newbies NEED our mentors to be relentless in their discussions, straight forward/direct to the point, aiming to cover all bases. this is because as long as they are doing this...
lol.....Please do show me the predictions that I have made here for you to follow......feel free to copy and paste them......show me also where I have said that I think that few posts is enough to cover where gold is headed.

Please show me the criticism that I couldn't take.....I'm all ears waiting for you.

Look, the fact of the matter is that a post was made regarding the gold 'bubble'. This bubble is well documented and is well respected by people from senior analysts to retail traders. Beeps wanted to 'prove' that the bubble is in fact not a bubble. Fair enough.....no problem with that. It was explained to him why it is a bubble, and he had to argue the point. If you look at his posts, that is his style.......

For me, I don't care what he says because I trade ok on my own.....I don't need to come here. What concerns me though is people with his ego will attract newbies and fill them up with his rubbish......and ForexFactory is full of such people.

Remember.....there's no shame in saying 'I was wrong'......'I made a mistake'.....'can you help me understand?'

He who is afraid to ask, is afraid to learn.

Know-it-alls are a dime a dozen here at FF, and indeed in the whole retail trading market......of which 98% lose.

Now.....please copy and paste these things that you say I said.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,559
  • Aug 30, 2011 10:39pm Aug 30, 2011 10:39pm
Quoting lilpip
Hey all lets leave mr. jumper alone, I think things are a bit blown out of sorts a bit.
He started off on the wrong foot by walking in the room and pissin on it. Ive told him where the bathroom is, let him clean himself up a bit Im sure he will come back refreashed and will have some positive input.
After all anyone with 30 years of professional experience at the reigns trading and no burnout he cant be all that bad.
I make a motion for him to put his best foot forward.
cheers
My first post here was this post. Feel free to show me this "pissin on the room"
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,560
  • Aug 30, 2011 10:45pm Aug 30, 2011 10:45pm
Quoting realjumper
Please show me the criticism that I couldn't take.....I'm all ears waiting for you.
Beeps wanted to 'prove' that the bubble is in fact not a bubble. Fair enough.....no problem with that. It was explained to him why it is a bubble, and he had to argue the point. If you look at his posts, that is his style.......
Now.....please copy and paste these things that you say I said.....
Ive been around for 6 months or so and I know im hard headed at times but I guess Ive been missing where he likes to argue, if that is his style I guess Im clueless.
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