XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 491 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD, Silver/USD

Similar Threads

Gold futures & XAU 78 replies

GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies

Daytrade - XAU/USD & XAG/USD 14 replies

XAU/JPY & XAG/JPY 13 replies

Successful XAU/USD traders 7 replies

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

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

  • #9,801
  • Edited 1:22am Sep 7, 2011 1:05am | Edited 1:22am
Quoting MapleLeaf
Hi there, good points, do you think what is happening right now could be a reaction to the massive USD-CHF move earlier?

Gold moved 60 dollars in the last hour, completing the "mirror" correlation with USD-CHF.
I dont know about why they did or did not respond a certain way .
I do know looking at the chart most everybody took the moves they were going to take yesterday including the both of them.
monday she tested the trend guide and bounced up closing like she wanted to go higher tuesday and she did but she closed the day hanging around the trend guide.
Today, silver on the 5 min. acts like she wanted to start below 42.00-13 and you see the pa and candle formations with gold dropping below the trend guide @ 1869 area.
Dont forget gold is at its extended yearly highs at 1921-36 area and if banks are able to maintain control and manipulation the normal pattern would be to rotate back.
usd chf are at its monthly pivot to highs 8633
e/u hit its weekly and monthly pivot area 42.99-43.08
silver 42.00 @ weekly pivot
  • #9,802
  • Sep 7, 2011 1:19am Sep 7, 2011 1:19am
Quoting ShirleyLo
with the disappearance of other safe haven like Swiss.....who knows what happens with Yen....heard the Swiss is selling gold to peg their currency (not buying this)....

such a mess. with such mess what do you do? buying Dow Jones? buying USD (oh, God should intervene with your mind asap)? buying land (makes sense, but not for the majority of humans with 9-5 office staff job)?

Some manipulators (banks?) should stop kidding lol, people are digging gold. If anyone knows strong fundamental that will slash gold price by half, I'd like to hear.


I...
It remains to be seen Shirley, whether the SNB will be able to withstand the pressure of the market. In 2010 the SNB spent about 200 billion francs combined in its myriad intervention efforts over the past couple of years, none of which had any kind of long-term benefits.

[Intervention is always expensive and almost never works. Most market participants know full-well how badly the SNB got burned about a year ago when it tried stopping the franc’s appreciation, spent a ton of money doing so and ended up with nothing to show.

Traders could continuously test the SNB’s euro-franc 1.20 floor because they still consider the franc a safe-haven asset amid the euro zone’s ongoing debt crisis. Analysts say that’ll force the central bank to buy an extraordinary amount of euros, potentially pushing the SNB to cave. The gift and the curse is that “at the end of the day, the SNB will spend whatever it takes,” Wells Fargo’s Bennenbroek says. the above from www.wjs.com]
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,803
  • Sep 7, 2011 1:27am Sep 7, 2011 1:27am
Quoting sam2vt
Hi patguchi,

Would you please explain what do you think of your diagonal fibo?

I attached my chart with normal fibo and price may retrace from 50% (1811.74)? Any one please leave any comment of my analysis as am just a newbie.
i not sure what you are exactly asking but here goes...

a: i think it's cool because fibonacci is cool, he's a genius! the diagonal fibo just fits perfectly on the daily chart. the drop to 1702 hits the 50% of the diagonal fibo. the drop to 1824-1825 hits the 38%

b: i think today's price action point us towards the 50% of the diagonal fibo. it may happen within this week. which would be a price to be considered to go long.

c: diagonal vs the normal fibo? i find the normal fibo to be more applicable to most situations. even at the 5 min chart. but for me, diagonal fibo for my current analysis seems to be stronger. i use both.

regarding your analysis it seems possible that it may hit that price since it's been testing the 38% normal fibo

hope that helps
  • #9,804
  • Sep 7, 2011 1:39am Sep 7, 2011 1:39am
Quoting patguchi
i not sure what you are exactly asking but here goes...

a: i think it's cool because fibonacci is cool, he's a genius! the diagonal fibo just fits perfectly on the daily chart. the drop to 1702 hits the 50% of the diagonal fibo. the drop to 1824-1825 hits the 38%

b: i think today's price action point us towards the 50% of the diagonal fibo. it may happen within this week. which would be a price to be considered to go long.

c: diagonal vs the normal fibo? i find the normal fibo to be more applicable to most situations. even at the 5 min chart....
I like the diagonal better what does it incorporate that the other doesnt ?
I know nothing about them but it appears as if it incorporates time .
  • #9,805
  • Sep 7, 2011 1:40am Sep 7, 2011 1:40am
Quoting patguchi
http://i52.tinypic.com/64gx0l.gif

re-sized diagonal fibo for suntrader

hope this helps
oops sorry. my mistake. this is a FIBONACCI FAN. i'm not sure if it's also called diagonal fibo
  • #9,806
  • Sep 7, 2011 1:42am Sep 7, 2011 1:42am
Quoting patguchi
i not sure what you are exactly asking but here goes...

a: i think it's cool because fibonacci is cool, he's a genius! the diagonal fibo just fits perfectly on the daily chart. the drop to 1702 hits the 50% of the diagonal fibo. the drop to 1824-1825 hits the 38%.............
Thanks patguchi. You did answer my question exactly...

1 more question for you. Are you going to sell base on your analysis and at which price you will start selling?
  • #9,807
  • Sep 7, 2011 1:52am Sep 7, 2011 1:52am
http://upic.me/i/96/7-9-255413-43-25.png

1.gold rebound +-1857
2. **1857 slow down +-1813
3. 1780
  • #9,808
  • Sep 7, 2011 1:52am Sep 7, 2011 1:52am
Quoting sam2vt
Thanks patguchi. You did answer my question exactly...

1 more question for you. Are you going to sell base on your analysis and at which price you will start selling?
nope i'm not going to sell into this. see post #9918 . technically for me it seems it's going to drop. fundamentals seems to favor gold to rise (india gold buying season, ramadan gift giving, china... nfp's big fat 0 to name a few). better to respect both. when in doubt, stay out!
  • #9,809
  • Sep 7, 2011 2:04am Sep 7, 2011 2:04am
halifax HPI m/m in the UK was -1.2%
would this have some impact? id have thought so but i dont see it
  • #9,810
  • Sep 7, 2011 2:51am Sep 7, 2011 2:51am
http://lcchong.files.wordpress.com/2...ng?w=877&h=397
  • #9,811
  • Sep 7, 2011 3:23am Sep 7, 2011 3:23am
Quoting redbull
http://upic.me/i/96/7-9-255413-43-25.png

1.gold rebound +-1857
2. **1857 slow down +-1813
3. 1780
Saw your chart and compared with mine before going to bed las night and said what the heck? took a small risk.......see what greeted me this morning. Thank's for sharing. I still think gold is still heading up. This is one of those corrections before hitting our 2k mark
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd.png Size: 49 KB
  • #9,812
  • Sep 7, 2011 3:49am Sep 7, 2011 3:49am
Can a break of 1825 see us doen to 1775 and then even 1770? see chart for my rationale - Just started trading gold and LOVE IT! (almost as fun as cable )

[Orange zones are given by the most concentrated congestion areas, consisting of resistance from price action, Fibo levels & gann levels]
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold levels 06092011.png Size: 70 KB
Click to Enlarge Name: gold 06092011.png Size: 70 KB
  • #9,813
  • Sep 7, 2011 8:16am Sep 7, 2011 8:16am
Quoting Walker93
Can a break of 1825 see us doen to 1775 and then even 1770? see chart for my rationale - Just started trading gold and LOVE IT! (almost as fun as cable )

[Orange zones are given by the most concentrated congestion areas, consisting of resistance from price action, Fibo levels & gann levels]
& EVEN 1670
  • #9,814
  • Sep 7, 2011 8:25am Sep 7, 2011 8:25am
Does anyone have any strong support levels for silver? I'm short gold but have an underwater silver long (I know i did it again!).
Anything can happen.
  • #9,815
  • Sep 7, 2011 8:46am Sep 7, 2011 8:46am
Whos shorting gold? I am. On the 15 min and 30 min is a kind of hammer, it is insignificant candle right?
  • #9,816
  • Sep 7, 2011 8:51am Sep 7, 2011 8:51am
Quoting hermanforex
Whos shorting gold? I am. On the 15 min and 30 min is a kind of hammer, it is insignificant candle right?
I'm short but getting to BE very quickly. I won't trust any reversal PA on anything shortwer than the 4H and it had better be big solid green bars.

trying to catch the bottom on 1h/15m cost me a lot of money last week when this happened.

There is (what I saw as) as strong bearish signal on the daily so we could see a bit more down yet. We're dancing around 1812 (50% ret) at the moment so short term bullish PA shouldn't be unusual here.

I'd quite like silver to go up though
Anything can happen.
  • #9,817
  • Sep 7, 2011 9:32am Sep 7, 2011 9:32am
XAU hasnt closed below 18DMA since 05JUL. 18DMA currently at 1822. Watching to see if it recovers back above.
I have no enemy; I make Incautiousness my Enemy.
  • #9,818
  • Sep 7, 2011 10:34am Sep 7, 2011 10:34am
http://lcchong.files.wordpress.com/2...ng?w=877&h=357
  • #9,819
  • Sep 7, 2011 10:34am Sep 7, 2011 10:34am
long 1797.2. 18dma now 1823.7.

watching to see if it can make it for the NY close above 18dma
I have no enemy; I make Incautiousness my Enemy.
  • #9,820
  • Sep 7, 2011 11:23am Sep 7, 2011 11:23am
Greed got the better of me on my last trade, took a long on the break of an inside bar from last wednesday trough 1842, should have taken most of it at 1900. but didnt so ended up getting stopped at BE around 1842.

Now looking to see how it acts on this 1800 level to see if another long setup occurs.

h2
Attached Image
54 traders viewing now