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

  • #13,441
  • Nov 21, 2011 5:11pm Nov 21, 2011 5:11pm
Quoting ddinnov
Leonardo Fibonacci to the rescue again..


...but for how long?
Either my eyes are out of whack or you pulled your fibs the wrong direction.

On a retracement back down lower ratios are first, i.e. 23.6, 38.2 etc and 78.6 last.
  • #13,442
  • Edited 7:49pm Nov 21, 2011 7:10pm | Edited 7:49pm
Quoting ddinnov
Leonardo Fibonacci to the rescue again..


...but for how long?
A Few Pointers:
Perhaps you already know this;
Leonardo Fibonacci literally translated means...
Leonardo, Son of Bonacci.
I've studied his work, including 'The Golden Ratio' & I like it.
So much so that I use it on a daily (constant) basis.

I don't get to hang On-Line as much as I used to so I have to check 'How Old' the post is I am reading. Therefore I have to backtrack that long in Time to see where PA was at the time of the post.
With a Wheel Mouse, that's Easy.
Here's what you do.
Change TF to 1Hr.
Click Wheel on your Mouse to Turn On Crosshairs.
Hover Mouse over Last Bar on Chart.
Click Left Mouse Button & Hold. Slide Cursor back in Time. (Notice some Text appears beside the Crosshairs)
Looks something like this...
18 / 5000 / 1725.00
18 = Number of Bars Travelled in Time.
5000 = Pips Travelled
1725.00 = PA at destination.

Try it out and see if it helps.

Auto Scroll:
Most of you proly have your MT4 setup to Auto Scroll. By doing so you are loosing a tool I use frequently.
Auto Scroll ON/OFF is the Icon on the Toolbar (top of screen)that looks like an 'x' axis / 'y' axis with a Green arrowhed (triangle).
Turn it OFF & a Red Triangle appears on the Date Scale of your Chart at the Earliest Date/Time in View.
Click & Drag that Red Triangle to the Date Time of the Chart at which you want to Zoom In.
Hit the '+' (Plus Key) on your NumPad.
Make sure your Num Lock is ON.

Oh... & btw. I'm Long Gold/Euro. That's right. Gold Euro. Not Gold/USD.
Looking for 1,250.00 if I can get it. But Dem Darn Swiss are in my way because They want to Strengthen the Euro.
Attached Image (click to enlarge)
Click to Enlarge Name: _#1 nov 21 11 climbing.gif Size: 31 KB

Understand Your Trades.

B
  • #13,443
  • Nov 21, 2011 7:29pm Nov 21, 2011 7:29pm
There are 7 MAJOR Pairs available to Currency Traders.
All others are Crosses / Minor Pairs & thier Value can be Calculated from The Magnifcent 7.
ScreenShot
Attached Image


All other Pairs (ie; from 8 to 27) are Calculated based on the Value of the above 7.
Attached Image


WARNING ! ! !
The following attached XL File Requires Macros to run efficiently.
I (Bemac) Wrote those Macros. If you do not feel comfortable running anything that allows your computor to link to the Web...
then do not 'Enable Macros'
All the Macros do is allow the Data Stream that is currently feeding YOUR MT4 Charts to be SPLIT & Also feed this MS XL File. One Way Traffic.

For those that trust me to Open it & run the Macros, you may be rewarded by seeing when a Minor has yet to catch up.

B
Attached File(s)
File Type: xls Basic Cross Calculator w Pip Value.xls   245 KB | 516 downloads
  • #13,444
  • Nov 21, 2011 7:40pm Nov 21, 2011 7:40pm
I put the Tips here because of your Large Viewing audience.
That plus you told me I could post What/Whenever.

Gold PA is within 10% of a bottom.
Start Small. (Smallest Lot the bugger will let you play). Read PA as we Climb & pick your ADD Entry points Wisely.

Remember: You are putting YOUR Cargo up against Mine & a more that are better than me.

Speed Kills!

B
  • #13,445
  • Nov 21, 2011 7:44pm Nov 21, 2011 7:44pm
Note to Cath: just ask Bemac!!
I have been trying to develop something like this to somehow give my watching of pairs some order, and have been spectacularly unsuccessful - this is like early xmas
  • #13,446
  • Nov 21, 2011 7:48pm Nov 21, 2011 7:48pm
not sure if anyone noticed but todays drop went right to the 150 MA and that has held pretty well in the past, see attached. We have confluence of the 61% fib at 1683 and the 150 SMA.
(tan line is from Jan 2011- pink line is from Oct 2008)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 150ma history.jpg Size: 129 KB
Click to Enlarge Name: 150ma now.jpg Size: 136 KB
  • #13,447
  • Nov 21, 2011 7:56pm Nov 21, 2011 7:56pm
Quoting CathS
Note to Cath: just ask Bemac!!
I have been trying to develop something like this to somehow give my watching of pairs some order, and have been spectacularly unsuccessful - this is like early xmas
Wait 'till you load it & check out the other pages on that XL sheet.

I think you'll like it.

B
You know me. Why stop at 10 IF I can push it to 12?
  • #13,448
  • Nov 21, 2011 8:27pm Nov 21, 2011 8:27pm
Quoting Bemac
Wait 'till you load it & check out the other pages on that XL sheet.

I think you'll like it.

B
You know me. Why stop at 10 IF I can push it to 12?
he he I was trolling through them as you wrote this - the mind boggles at how much time you must have spent on all this stuff you are sharing!!

A couple of questions though - what version of XL are you using? I can't get it to load the MT4.exe file, and I wonder if that is related?

Also a basic ridiculous Q, how do you load crosses into MT4 that aren't on their basic list? I can't work out how to search for them, so have been watching on another platform but it would be much easier to follow if I could use MT4 too!
  • #13,449
  • Nov 21, 2011 9:24pm Nov 21, 2011 9:24pm
Quoting CathS
he he I was trolling through them as you wrote this - the mind boggles at how much time you must have spent on all this stuff you are sharing!!

A couple of questions though - what version of XL are you using? I can't get it to load the MT4.exe file, and I wonder if that is related?

Also a basic ridiculous Q, how do you load crosses into MT4 that aren't on their basic list? I can't work out how to search for them, so have been watching on another platform but it would be much easier to follow if I could use MT4 too!
Like me; it is Old but still functions in All the Important sectors. heh heh...

Attached Image (click to enlarge)
Click to Enlarge Name: 7 Majors AND Crosses XL Version.JPG Size: 139 KB

B
  • #13,450
  • Nov 21, 2011 9:49pm Nov 21, 2011 9:49pm
Quoting Bemac
I put the Tips here because of your Large Viewing audience.
That plus you told me I could post What/Whenever.

Gold PA is within 10% of a bottom.
Start Small. (Smallest Lot the bugger will let you play). Read PA as we Climb & pick your ADD Entry points Wisely.

Remember: You are putting YOUR Cargo up against Mine & a more that are better than me.

Speed Kills!

B
Entering early with a small tier size is crucial in the long run. I personally use 4 tier sizes for my trading, the first one being T1 for feelers (early entries), T2 (confirmation), T3 (addition to position prior to momentum) and T4 (second addition, only in an A+ market where all the stars align).

This methodology changes depending on the market environment and isn't airtight-flexibility is key.
  • #13,451
  • Nov 21, 2011 9:57pm Nov 21, 2011 9:57pm
Quoting split_unit
Entering early with a small tier size is crucial in the long run. I personally use 4 tier sizes for my trading, the first one being T1 for feelers (early entries), T2 (confirmation), T3 (addition to position prior to momentum) and T4 (second addition, only in an A+ market where all the stars align).

This methodology changes depending on the market environment and isn't airtight-flexibility is key.
Move to the Front of the Class.
@ the Others:
This realization has a Huge effect on your progress in Cargo Aquisition.
Do not miss this point. Please.


B
  • #13,452
  • Nov 21, 2011 10:06pm Nov 21, 2011 10:06pm
Quoting Bemac
A Few Pointers:
Perhaps you already know this;
Leonardo Fibonacci literally translated means...
Leonardo, Son of Bonacci.
I've studied his work, including 'The Golden Ratio' & I like it.
So much so that I use it on a daily (constant) basis.

I don't get to hang On-Line as much as I used to so I have to check 'How Old' the post is I am reading. Therefore I have to backtrack that long in Time to see where PA was at the time of the post.
With a Wheel Mouse, that's Easy.
Here's what you do.
Change TF to 1Hr.
Click Wheel on your Mouse to Turn On Crosshairs.
Hover...
Found the auto scroll thingy useful....thxs bemac
Life's a bitch....so be a dog and cover it!
  • #13,453
  • Nov 21, 2011 10:24pm Nov 21, 2011 10:24pm
Quoting dogbreath
Found the auto scroll thingy useful....thxs bemac
Dobbie is happy.
  • #13,454
  • Nov 21, 2011 10:58pm Nov 21, 2011 10:58pm
Dobbie's tired.

Asta Bannana.

B
Cath... I'm watching you... with interest...
You Go Girl.

Me
  • #13,455
  • Nov 22, 2011 12:35am Nov 22, 2011 12:35am
Yep, don't keep all your eggs in one basket.
Unless, that is, as a person pointed out, a Very good Basket.

Scaling in and out, is something important I learned early on from people.
  • #13,456
  • Nov 22, 2011 1:02am Nov 22, 2011 1:02am
Quoting SunTrader
Either my eyes are out of whack or you pulled your fibs the wrong direction.

On a retracement back down lower ratios are first, i.e. 23.6, 38.2 etc and 78.6 last.
I used to think that as well but I noticed that most people will drag from the left hand to the right either if it's from a swing high to a swing low or vice versa so I do the same. The first daily chart has the fibs drawn from the 1921 high down to the 1535(ish) low and the blue boxes show where (to me) they've been significant. If I draw it from the 1535(ish) and drag up to the high on the left I get pretty much the same levels at the same places.

I'm probably doing it wrong though.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: goldfibs1.gif Size: 21 KB
Click to Enlarge Name: goldfibs2.gif Size: 21 KB
Anything can happen.
  • #13,457
  • Nov 22, 2011 1:07am Nov 22, 2011 1:07am
Quoting ddinnov
I used to think that as well but I noticed that most people will drag from the left hand to the right either if it's from a swing high to a swing low or vice versa so I do the same. The first daily chart has the fibs drawn from the 1921 high down to the 1535(ish) low and the blue boxes show where (to me) they've been significant. If I draw it from the 1535(ish) and drag up to the high on the left I get pretty much the same levels at the same places.

I'm probably doing it wrong though.
the first chart is the orthodox way of doing it. upside down can help too. i used it upside down once and it works another way as well. try it out on past levels, see how u like it, but definitely the normal orthodox way is the 1st hchart
Have I got something on my face, SOLDIER?
  • #13,458
  • Nov 22, 2011 1:42am Nov 22, 2011 1:42am
Looks like she wants back above 1700.

Looking at my new weekly it is so clear now what happened in a technical view.
(Fundamentally Gold should be rising) but we know the fundies don't always mirror the techs.

so We went up and broke out of the channel. Hit some stiff weekly resistance.
came back down to the top of channel. Then on fail of support the blood was let out and seems to have stopped at the mid channel pivot. (gold dashed)

A bit late in my entry but it will do.

Here is the chart.

Silver on the other hand seems to just be moving sideways between 31 and 35.

A break of 35 might signal a run to test 40. Took a long here too.
Attached Image (click to enlarge)
Click to Enlarge Name: gold takin chance.GIF Size: 36 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,459
  • Nov 22, 2011 1:48am Nov 22, 2011 1:48am
I am usually in favor of correction before moving higher to keep the chart healthy and not ahead of itself. Look at what happened the last time we went too high too fast.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,460
  • Nov 22, 2011 2:08am Nov 22, 2011 2:08am
Quoting XTrade
I am usually in favor of correction before moving higher to keep the chart healthy and not ahead of itself. Look at what happened the last time we went too high too fast.
I do guess she moves to 1700 where i see a fib 38.2 resistance an also a pshyc level.

I also see the trend line being broken and what is happening now, is a good retracement for short again @ 1700...

Any contradictions???


Chart attached.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.jpg Size: 120 KB
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