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

  • #13,701
  • Nov 28, 2011 11:08am Nov 28, 2011 11:08am
I'm Long at 1708 area.

GOLD 1D
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD-DAILY.jpg Size: 108 KB

Price has bounced off trendline support extending from 1600. Well within a thick Kumo cloud so I expect this area to hold solid. Right now cloud floor is around 1660.50. Cloud ceiling 1725.35. Expect some consolidation before I feel we get an eventual breakout above 1725. At the very least this range should hold without too much selloff. But with price below the tenkan san and Kijun san and Chikou under cloud, we still have a ways to go before this qualifies as an ichimoku trade on the daily TF

GOLD 1W
Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWEEKL;Y.jpg Size: 103 KB

Weekly TF looks better of course, chinkou above cloud.current candle has price above Kijun San and Tenkan still, bullish. All Ichimoku criteria still in play on weekly chart
  • #13,702
  • Nov 28, 2011 12:44pm Nov 28, 2011 12:44pm
It is a good chance to place a SELL order with a stop loss at 32,30 ....and in case of any sudden upwards movements there shud also be placed a BUY STOP at 32,30 level targeting 33,80
Attached Image (click to enlarge)
Click to Enlarge Name: 392057_331634906853795_303663036317649_1596936_402508073_n.jpg Size: 80 KB
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #13,703
  • Nov 28, 2011 3:42pm Nov 28, 2011 3:42pm
Welcome

Quoting smilemiz
nice chart there
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,704
  • Nov 28, 2011 3:42pm Nov 28, 2011 3:42pm
Welcome

Incase I missed anyone else new - welcome to you as well....
X
Quoting selym_co
It is a good chance to place a SELL order with a stop loss at 32,30 ....and in case of any sudden upwards movements there shud also be placed a BUY STOP at 32,30 level targeting 33,80
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,705
  • Nov 28, 2011 3:45pm Nov 28, 2011 3:45pm
Quoting XTrade
Welcome

Incase I missed anyone else new - welcome to you as well....
X
So rare to find courteous behaviour in the world of nameless/faceless communication.

Thanks for keeping manners alive in the digital era, X.
  • #13,706
  • Nov 28, 2011 3:46pm Nov 28, 2011 3:46pm
Resting in a forest of potential resistant bars.

Regardless of gaps, if the reversal I am thinking of comes this way,
and
Now that the USD and GOLD are again NEGATIVELY or INVERSELY correlated,
Gold will rise through and create a new High, likely by years end or into the first quarter, yet, I would bank on year and Quarter end. For at least an attempt at
1920.

Now, if the reversal plays out, this may happen faster than I think,
time will tell.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,707
  • Nov 28, 2011 6:23pm Nov 28, 2011 6:23pm
Quoting XTrade
..... Now that the USD and GOLD are again NEGATIVELY or INVERSELY correlated,.......
If that is so, and I think it is, I'm wondering why you think higher for Gold?

DXY looks strong to me, on a relative basis anyway:
Attached Image (click to enlarge)
Click to Enlarge Name: DXY.png Size: 25 KB
  • #13,708
  • Nov 28, 2011 8:23pm Nov 28, 2011 8:23pm
Nice healthy looking HOUR ONE (H1) Bar forming atop 1708 support area.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,709
  • Nov 28, 2011 8:44pm Nov 28, 2011 8:44pm
Quoting SunTrader
If that is so, and I think it is, I'm wondering why you think higher for Gold?

DXY looks strong to me, on a relative basis anyway:
never would have figured you as Fib guy. I just read the Carolyn Boroden book a few days ago and your chart reminds me of her method. I skipped the chapter of fib time, but is that what you are using on that chart?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #13,710
  • Nov 28, 2011 8:49pm Nov 28, 2011 8:49pm
Quoting Blud4oilPrgm
I'm Long at 1708 area.

GOLD 1D
Attachment
Price has bounced off trendline support extending from 1600. Well within a thick Kumo cloud so I expect this area to hold solid. Right now cloud floor is around 1660.50. Cloud ceiling 1725.35. Expect some consolidation before I feel we get an eventual breakout above 1725. At the very least this range should hold without too much selloff. But with price below the tenkan san and Kijun san and Chikou under cloud, we still have a ways to go before this qualifies as an ichimoku trade on the daily...
Thxs....appreciate the icho analysis always good to have another analysis.
Life's a bitch....so be a dog and cover it!
  • #13,711
  • Nov 28, 2011 9:04pm Nov 28, 2011 9:04pm
Quoting LasVahGoose
never would have figured you as Fib guy. I just read the Carolyn Boroden book........
Always but I follow the techniques of her mentor Robert Miner. She concentrates on short term almost exclusively.

But yes I use fibs on time, same as price measuring trends or corrections and projecting forward.

Gann famously said when price and time square change is inevitable. Well many times anyway. So that is why I watch both.
  • #13,712
  • Nov 28, 2011 9:12pm Nov 28, 2011 9:12pm
Quoting SunTrader
Always but I follow the techniques of her mentor Robert Miner. She concentrates on short term almost exclusively.

But yes I use fibs on time, same as price measuring trends or corrections and projecting forward.

Gann famously said when price and time square change is inevitable. Well many times anyway. So that is why I watch both.
Gann was tapped into something 'mystical' if you ask me. The guy could predict world events like a prophet. I'm not too familiar with his methods though. I guess it just goes to show there are 1000's of ways to trade. I just need to settle down and find one for me.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #13,713
  • Nov 28, 2011 9:24pm Nov 28, 2011 9:24pm
anyone else see a bat in the making in silver?
Attached Image (click to enlarge)
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  • #13,714
  • Nov 29, 2011 2:03am Nov 29, 2011 2:03am
short at 1710
  • #13,715
  • Nov 29, 2011 2:05am Nov 29, 2011 2:05am
I think gold is moving down to under 1700 again.
  • #13,716
  • Nov 29, 2011 2:13am Nov 29, 2011 2:13am
Quoting XTrade
Welcome

thanks.. miza here...

i really hope.. there are more girl traders come here..
  • #13,717
  • Nov 29, 2011 6:38am Nov 29, 2011 6:38am
still holding short
  • #13,718
  • Nov 29, 2011 8:54am Nov 29, 2011 8:54am
Quoting whatfx
still holding short
Reason for your short?

Was it the bat?

Where is your tp?

I am staying patient and not trading now, but it is tough for me to see a reason for a short here. I would be long from 1710 if anything.

Particularly because the USDX can't escape the ire of shrewd market participants forever. It is due for a correction even if some think it will break through 80 and stick.

I'm not an expert, but the trend is your friend. I have seen zero evidence that the uptrend has reversed. Trend lines are still in tack.
  • #13,719
  • Nov 29, 2011 10:03am Nov 29, 2011 10:03am
Quoting XTrade
Resting in a forest of potential resistant bars.

Regardless of gaps, if the reversal I am thinking of comes this way,
and
Now that the USD and GOLD are again NEGATIVELY or INVERSELY correlated,
Gold will rise through and create a new High, likely by years end or into the first quarter, yet, I would bank on year and Quarter end. For at least an attempt at
1920.

Now, if the reversal plays out, this may happen faster than I think,
time will tell.

Hi X..

On catch up (reading through this thread)

What is this reversal you are thinking of?
  • #13,720
  • Nov 29, 2011 10:38am Nov 29, 2011 10:38am
Quoting smilemiz
thanks.. miza here...

i really hope.. there are more girl traders come here..
i am a girl
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