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

  • #13,481
  • Nov 22, 2011 9:30am Nov 22, 2011 9:30am
And there it is. A break of 1700 currently at 1703

depending on strength and volume I'll watch for resistance at 1715
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,482
  • Nov 22, 2011 9:47am Nov 22, 2011 9:47am
Quoting SunTrader
No not just the orthodox way, the correct way.

Any drawing tool can be used "as you like" but first off not when you are trying to make a point with others who use it the correct way. And secondly in order for a technique to work each time rules have to be followed so it isn't this time it works and the next time maybe not.

In an upmove a retracement is only one direction - down and in a downmove a retracement is only one direction - up. Simple.
The first chart is using the tool starting from the left swing high down to the right swing low so the top level is 100

1st chart:

http://www.forexfactory.com/attachme...7&d=1321945312

2nd chart:

http://www.forexfactory.com/attachme...8&d=1321945312

I always wondered why MT4 does it 'upside down' when you draw from left to right from a swing high to a swing low.. BUt like I said I see so many charts from good accomplished traders where they draw them that way that I go with that as well.

I'm probably wrong - what I might do is draw them both ways on a daily chart and see which levels are more accurate in terms of where price has reacted to them.
Anything can happen.
  • #13,483
  • Nov 22, 2011 10:28am Nov 22, 2011 10:28am
Attached Image (click to enlarge)
Click to Enlarge Name: gf.gif Size: 16 KB



flag cycle to supply



awaiting sell upper supply
  • #13,484
  • Nov 22, 2011 10:44am Nov 22, 2011 10:44am
break of 17 but no hold ..... as of yet.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,485
  • Nov 22, 2011 1:43pm Nov 22, 2011 1:43pm
But a market can't retrace for example 61.8% and then 38.2% - mathematically impossible.

Great demonstration !
Patience is magic
  • #13,486
  • Nov 22, 2011 3:29pm Nov 22, 2011 3:29pm
Quoting XTrade
break of 17 but no hold ..... as of yet.
You told opened some longs on Aud Eur & chf, how you managed that
positions? Where was or is your stops?

sorry for offtopic.
  • #13,487
  • Nov 22, 2011 7:36pm Nov 22, 2011 7:36pm
if runing can't break down 1664.xx, for 24 hour later
I think lowest 2 day ago (1664.20 ) will be support for this week,

we have 2 day momen buy xau-usd

buy area 1 : 1684.xx
buy area 2 ; 1665,XX
  • #13,488
  • Nov 22, 2011 8:24pm Nov 22, 2011 8:24pm
Quoting teguh
if runing can't break down 1664.xx, for 24 hour later
I think lowest 2 day ago (1664.20 ) will be support for this week,

we have 2 day momen buy xau-usd

buy area 1 : 1684.xx
buy area 2 ; 1665,XX
Well that reads Pretty Positve in Your Camp.
I wish you well.

Slow down & pick cherries.
PA currently running at 1,267.00.
And, for Me, Heading North.
How Far? You figure it out.















I'll take a look at 1,315


B

I need you to THINK of Long Term Targets.
1,320.00? has hurdles before it.
Find them.

B
  • #13,489
  • Nov 22, 2011 8:34pm Nov 22, 2011 8:34pm
I watched as the price action broke above the Ichimoku clouds at 20.00 EST. I generally take all Asian market break outs with a grain of salt. However this one also happens to be above the daily pivot calculated at 17.00 EST but am worried about the trend strength, will see what happens tomorrow.
Attached Image (click to enlarge)
Click to Enlarge Name: Break out.jpg Size: 133 KB
  • #13,490
  • Nov 22, 2011 10:03pm Nov 22, 2011 10:03pm
Bemac says its heading North.

Xtrade says its heading South.

Where is it heading, is it the correct time to buy or is it the correct time to sell?

Please note that i recently bought some physical and am looking for $1,900+ should i sell it or keep it?
  • #13,491
  • Nov 22, 2011 10:20pm Nov 22, 2011 10:20pm
time frame D1 look like Harami chandelstik patterns, A harami patterns implies change setimen, from down ternd pattern to up trend pattern, but i think a harami patterns dosen't necesarrily imply that ralliy will follow, it is signal market into consolidation.
  • #13,492
  • Nov 22, 2011 10:48pm Nov 22, 2011 10:48pm
Seeing a Doji starting to form on the Daily chart. Got in a on a buy yesterday at 1686, so far so good.

http://img194.imageshack.us/img194/6074/dailydoji.jpg



However looking at the weekly chart I wouldn't be surprised if there is another week of bearing movement to get back onto the bottom trend line.

http://img851.imageshack.us/img851/1674/weeklydrop.jpg


You can see that we have hit the top trend line where it has only broken once before coming back down, not sure if that would become new support though?
  • #13,493
  • Nov 22, 2011 11:27pm Nov 22, 2011 11:27pm
havent posted my cycles for long time. next post ill try help u guys pinpoint areas where price and time expected to meet and therefore provide u with some help if i can to good opps!



please gimme some time till next post. gotta reopen my gold charts!
Have I got something on my face, SOLDIER?
  • #13,494
  • Nov 22, 2011 11:50pm Nov 22, 2011 11:50pm
OMG interesting day, cycle hit.

50% retrace yesterday! wonder why i closed my chart and no template on this one

enjoy guys

i also have alternate wave counts in EW.

looks to hit daily supply at 75s. that would be a dream for u bulls right?

i honestly think in gold demand levels hold better than supply on higher tf and to me it looks to be consumed.

FE projections stand at 1880-81

xtrade would love to see this and my analysis
Attached Image (click to enlarge)
Click to Enlarge Name: 23.11 xau.gif Size: 19 KB
Have I got something on my face, SOLDIER?
  • #13,495
  • Nov 22, 2011 11:59pm Nov 22, 2011 11:59pm
Quoting bumapatria
OMG interesting day, cycle hit.

50% retrace yesterday! wonder why i closed my chart and no template on this one

enjoy guys

i also have alternate wave counts in EW.

looks to hit daily supply at 75s. that would be a dream for u bulls right?

i honestly think in gold demand levels hold better than supply on higher tf and to me it looks to be consumed.

FE projections stand at 1880-81

xtrade would love to see this and my analysis

Hey Buma,

First time, i guess i'm correct... Went long on gold @ 1706....
  • #13,496
  • Nov 23, 2011 12:02am Nov 23, 2011 12:02am
Will the trend line hold???
Attached Image (click to enlarge)
Click to Enlarge Name: gold.jpg Size: 108 KB
  • #13,497
  • Nov 23, 2011 12:03am Nov 23, 2011 12:03am
Quoting FX Tsunami
Hey Buma,

First time, i guess i'm correct... Went long on gold @ 1706....

im going to long in demo. already have couple of swing trades open in live accout.
Have I got something on my face, SOLDIER?
  • #13,498
  • Nov 23, 2011 12:13am Nov 23, 2011 12:13am
current gold trades

pennatn abcde break
Attached Image (click to enlarge)
Click to Enlarge Name: pennnnt break.gif Size: 17 KB
Have I got something on my face, SOLDIER?
  • #13,499
  • Nov 23, 2011 12:34am Nov 23, 2011 12:34am
Quoting bumapatria
current gold trades

pennatn abcde break

I could see the two white blocks as "buy" . Anyway, good luck !!!
  • #13,500
  • Nov 23, 2011 12:42am Nov 23, 2011 12:42am
It can go reverse on 1715 i guess.
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