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

  • #14,641
  • Dec 18, 2011 6:03pm Dec 18, 2011 6:03pm
Quoting XTrade
You are correct and thanks for your addition.

Many here need to learn higher time frames.

I have provided the weekly channel and daily analysis of it periodically,

I am waiting for the battle of 1600 to end to post the next channel:
please do post.
Yeah very true, seems to be a battle of support vs resistance. Its seems that the imminent outcome might be that 1600 will stop being a minor resistance and become a major support level (after-all the overall trend of gold is still up)... but as we are traders and not soothsayers, only time will tell.

I have attached a second picture, with the initial channel I used from around December 2009.
I closed my initial entry positions at around 1697 in August this year, just before the spike occurred to 1920.6. Was expecting a correction to around 1510 - 20 afterwards, but it seems however that the monthly trend line has been tested the 4th time and holds "like a text book trend".
I'm just wondering however if the upper trend line (channel) will hold, considering the fact that correction has not occurred as expected on the downside.
Guess we'll find out around March, for now we'll do what traders do and bank the pips until its time for analysis again.
Attached Image (click to enlarge)
Click to Enlarge Name: goldchart(2008-2011)1.jpg Size: 236 KB
  • #14,642
  • Dec 18, 2011 6:52pm Dec 18, 2011 6:52pm
So gap closed. Good. Now up to 1630 for santa rally...
  • #14,643
  • Dec 18, 2011 7:46pm Dec 18, 2011 7:46pm
Quoting vaidas7777
So gap closed. Good. Now up to 1630 for santa rally...
I hope so but disagree.
Hurdles @
1,605
1,609
1,614
1,621
Main Hinge, we have to attack 1,609

Then Upward.
(won't happen before Xmass)
Bosses are gone with nothing but a Mandate left behind.
DON'T Fk Up. Be back before the end of January.

B
  • #14,644
  • Dec 18, 2011 8:19pm Dec 18, 2011 8:19pm
Quoting XTrade
I was thinking the same thing and wanted to see if the members of this thread would cast there votes on the movement of the price this week. Remember we have till 5pm. to see if we could come to a consensus before the market opens.

Weekly close UP or DOWN???

I am leaning towards up. Yet my conviction has been stronger.

If we break the weekly channel we may test one of the moving averages below...
Where to vote Sir ?
  • #14,645
  • Dec 18, 2011 8:43pm Dec 18, 2011 8:43pm
Quoting forexfacts
Where to vote Sir ?
Right Here Sir.
No worries Mate. The Markets just Opened. Give us your Shout on Gold. Up or Down? Long Or Short or the abaned ASIDE?
Your call.
Toss a hat In.

B
  • #14,646
  • Dec 18, 2011 8:58pm Dec 18, 2011 8:58pm
Quoting Bemac
I hope so but disagree.
Hurdles @
1,605
1,609
1,614
1,621
Main Hinge, we have to attack 1,609

Then Upward.
(won't happen before Xmass)
Bosses are gone with nothing but a Mandate left behind.
DON'T Fk Up. Be back before the end of January.

B
Oh! Here's a Thought... They left me a Xmass Present.
Looking at the Holiday Scalp mentality it looks like they are willing to leave me a > than $20.00 Range.
Happy Holidays... Toooooo You....
Check the 5 Min for clues.
1,590 - 1,600... 10 Full P is Tradeable on 2 Fronts.
Want It
&
Need It
Understand why you want In...

B
  • #14,647
  • Dec 18, 2011 9:18pm Dec 18, 2011 9:18pm
Quoting Roncho
Yeah very true, seems to be a battle of support vs resistance.
I have attached a second picture, with the initial channel I used from around December 2009.
I'm just wondering however if the upper trend line (channel) will hold, considering the fact that correction has not occurred as expected on the downside.
In your channel you have 1655 jotted down in black, what is the significance of that price to you ?
  • #14,648
  • Edited 10:35pm Dec 18, 2011 9:32pm | Edited 10:35pm
Quoting XTrade
Funny despite everything, silver REFUSES TO BREAK 30!!!
Just stays in the 30 to 33 range.
.
with the 30.80-90 weekly breakout to the south, lets see what $30 has to say this week, especially @ this weeks close.
With the dec. monthly lows 1556 and 2011 yearly breakout 1551 holding, a retest of golds weekly breakout would be 1658-68 area.
we also have to be considering 2012 as she gets in position for next year.
As of fri close 2012 single yearly timeframe pivot.
1915
1605
1305
  • #14,649
  • Dec 18, 2011 9:55pm Dec 18, 2011 9:55pm
Quoting Bemac
Right Here Sir.
No worries Mate. The Markets just Opened. Give us your Shout on Gold. Up or Down? Long Or Short or the abaned ASIDE?
Your call.
Toss a hat In.

B
Thanks Sir

Casting a vote is too difficult for me at the moment.
My mind says it needs a bit more correction = DOWN
My heart says metals is all we have, No paper is trustworthy = UP

So it is a 50 - 50 for me.

But still if i have to take one side i feel this week will close at 1600+

So it is UP from my side.

(Readers please don't take my words seriously as they hold no value, i am not an expert )
  • #14,650
  • Dec 18, 2011 10:09pm Dec 18, 2011 10:09pm
Quoting forexfacts
Thanks Sir

Casting a vote is too difficult for me at the moment.
My mind says it needs a bit more correction = DOWN
My heart says metals is all we have, No paper is trustworthy = UP

So it is a 50 - 50 for me.

But still if i have to take one side i feel this week will close at 1600+

So it is UP from my side.

(Readers please don't take my words seriously as they hold no value, i am not an expert )
Sounds to me like You made a Solid Choice!
Stand Aside & watch the bullets fly. Holiday Season is No-Mans Land.

B
  • #14,651
  • Dec 18, 2011 10:15pm Dec 18, 2011 10:15pm
Quoting Ravissek
I already trading it with 10-30% gain monthly sucess BUT...I want to learn more and more how to trade not only gold but others currencies.i want Mainly 20% stabily gain.Not 1 month 10% and other 20%.I dont want to build my trading on luck.
I already use only Price ...Nit any indis.I trade supply and demand and support and resistance.But not understand it well like i want.
I will add the 50,100,200sma.But pls tell my why using this? For "short term use" or for some break-trades?
You use this smas like support/resistance when it breaks?
Thank...
Well what would you do if the markets (Forex, Commodities) become stagnant and have very little movement, then it would be hard to make 20% a year and you want 20% a month.

Don't want to dis-hearten you but in the past metals have shown that they can stay very quiet for years but nowadays it is a different game so make the most of it, we'll think about other options later
  • #14,652
  • Dec 18, 2011 10:19pm Dec 18, 2011 10:19pm
Quote
Stand Aside & watch the bullets fly. Holiday Season is No-Mans Land.

Wise advise Sir.
  • #14,653
  • Dec 18, 2011 10:25pm Dec 18, 2011 10:25pm
50% Fibo of last move down is on target with resistance @ appx 1660

forgot to post this b4

now might be a good time to short the buck.

don't get pissy with me either / put your stops and tps in.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #14,654
  • Dec 18, 2011 10:28pm Dec 18, 2011 10:28pm
THANK YOU and stop fucking DOUBTING yourself MAN. I swear that is probably worse than overtrading...................................................................
Quoting forexfacts
Thanks Sir

Casting a vote is too difficult for me at the moment.
My mind says it needs a bit more correction = DOWN
My heart says metals is all we have, No paper is trustworthy = UP

So it is a 50 - 50 for me.

But still if i have to take one side i feel this week will close at 1600+

So it is UP from my side.

(Readers please don't take my words seriously as they hold no value, i am not an expert )
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #14,655
  • Dec 18, 2011 10:29pm Dec 18, 2011 10:29pm
Quoting forexfacts
Well what would you do if the markets (Forex, Commodities) become stagnant and have very little movement, then it would be hard to make 20% a year and you want 20% a month.

Don't want to dis-hearten you but in the past metals have shown that they can stay very quiet for years but nowadays it is a different game so make the most of it, we'll think about other options later
(Sshhh ... I think that's why he is asking about other markets...)I have no issues with inquisition on other vehicles Traded.
@Rav.
Stop Asking what We are Doing.

Do You!

Now, Suggest your thoughts for therein lies your education.
If I answer & I am Wrong, You Blame Me & yet I only offered an opinion
Time is Now for Your Answers. Keep them Private if you wish.

B
  • #14,656
  • Dec 18, 2011 10:33pm Dec 18, 2011 10:33pm
No one really knows what "goes on"

we all just speculate to the best of our abilities.

I think we are past the point of needing disclaimers attached to all our posts.

Fuck, i've been wrong a dozen times on currencies live in this thread,

yet, I've brought people into and held 300 and 400 + USD GOLD positions...
in the same live thread.

and I do what I can to square my currency trades. I do post winners as well u just have to follow up.

Kinda hard when I have 2 brokerss. they all suck.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #14,657
  • Dec 18, 2011 10:34pm Dec 18, 2011 10:34pm
Quoting XTrade
THANK YOU and stop fucking DOUBTING yourself MAN. I swear that is probably worse than overtrading...................................................................
With Hat in hand I stand before you to report that ne'r a child has responded Open Wisely to beratement.

Open the box from which you choose to feed.

B
  • #14,658
  • Dec 18, 2011 10:35pm Dec 18, 2011 10:35pm
Lilpip

how are ya mate!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #14,659
  • Dec 18, 2011 10:39pm Dec 18, 2011 10:39pm
Scalp Buy:
1.587.04
Expect to be flat within an hour or so.
~1,590

B
1,582 saved my as$$ for now. Gotta be carefull when I pull that ??venge Trigger.
Still IN.
B
  • #14,660
  • Dec 18, 2011 10:46pm Dec 18, 2011 10:46pm
London is going to turn up the heat I feel it.

After this bvllshit session....


OTHERWISE
we know the supports and DSMAS and SMAs on the way down right??? folks..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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