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

  • #15,681
  • Jan 24, 2012 4:52pm Jan 24, 2012 4:52pm
Quoting Anas99
what will u suggest for gold from 1670 should i open long ???
u should .........

..... decide for yourself rather than ask a total stranger here.


And let me tell you I'm strange.

  • #15,682
  • Jan 24, 2012 5:40pm Jan 24, 2012 5:40pm
Quoting XTrade
These are great quotes. But that is not the indicator that I have.

Do you have the specific volume indi that relates to your post?

I love bill williams but don't give two sh!ts about EW.
Too many different opinions of what wave started when why and how and what a b or c move inside a wave we are in.

No use . Yet those who know ELLIOT WAVE well impress me and I welcome you to post a LONG TERM CLEAR and UNDERSTANDABLE chart with a detail of all the wave NUMBERS and letters and why the sequence has changed if the price falls or drops.


B,...
nah i dont do elliot wave as much X.

theres the original indicator for the MFI bars - and coloors he stated also that the values doesnt matter -therefore i found another indicator (hayseed coded it i think) on bill williams MFI + the volumes values added to it. the colors are kinda different so i correspond to the original colors and use it in accordance to the custom colors.

the only BW MFI colors indicator is also of hayseed's if im not wrong.


original Mt4 indicator is found under "indicators" - Billwilliams under the name "Market facilitation index".

BW mFI COLORS ONLY
Attached File(s)
File Type: ex4 BW_MFI colors.ex4   4 KB | 537 downloads

BW MFI + VOLUMES.
Attached File(s)
File Type: ex4 BW_MFI+Volumes.ex4   11 KB | 526 downloads


i dont just see the colors - i use the bar's volume and standard volume analysis techniques and use the mfi's interpretation of it to kind of get the feeling where different market tops or bottoms or where the smart money just isnt there anymore or switched.
Have I got something on my face, SOLDIER?
  • #15,683
  • Jan 24, 2012 5:44pm Jan 24, 2012 5:44pm
Hi Xtrade, thanks for your words. That buy didn't work out -2.40 but on the reverse there was a lower high pattern sell I took and turned out good for $4.50.

This morning we had a converging triangle pattern that had a upside break out that broke the down trend from the 1677 high. I am long at the moment. Target 1670 - 1675 off a measured move from the triangle.

scfx
The best indicator is price.
  • #15,684
  • Jan 24, 2012 6:11pm Jan 24, 2012 6:11pm
okay please refer to the original MFI colors - and not the BW mFi volumes colors as those colors are customized. just put them up both and compare them - and perhaps even change the BW MFI Volumes colors to the original for easier use.

but to those who wanna find out - just use the original first.

okay in courtesy of http://forex-indicators.net/bill-williams/mfi



the volume matters most and how one percieves the effects of supply/demand to it - and the market facilitation index just better helps you understand the activity in that underlying volume and MFI values.
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Have I got something on my face, SOLDIER?
  • #15,685
  • Jan 24, 2012 6:24pm Jan 24, 2012 6:24pm
Price is currently in a triangle, pretty clear in H1.

Low @1661.30 and High @ 1669.75.

And again zone of 1666 seems to be a key zone.
  • #15,686
  • Edited 10:55pm Jan 24, 2012 10:00pm | Edited 10:55pm
Quoting lilpip
resistance noted at the anticipated 1680 area.
Will watch response of daily and weekly high areas 1686-88 and daily trend guide 1666 on the 5 min.
Bias is with the trend up from 1666.
tue daily
1686-88
1666
1646
silvers bounce down from projected monthly high 32.80 is noted along with avoiding a breakout of the daily high 32.54 as she closed back below @ 32.24.
bias is down from 32.81-33.08 and up from fri breakout 31.10 - 58 to tue daily pivot area.
tue. daily
33.08
31.58
30.07
resistance and move down from mondays daily and weekly highs 1680-86 area noted along with daily close at 1665 tue. daily trend guide area.
Normal pattern is to hit weekly highs and rotate back, we will see what wed. daily pivot 1663 has to say about that, wed daily
up from 1663, down from 1663; throw the 5 min. on for direction out of here.
1683
1663
1643
silvers bounce down monthly highs 32.80 noted.
normal pattern is to extend out to monthly highs and rotate back.
A brake above 32.80-33.00, she will be testing the single year trendguide 34.50.
wed daily
32.80-33.00
31.51
33.00
  • #15,687
  • Jan 24, 2012 11:07pm Jan 24, 2012 11:07pm
Great posts guys!

@ B, thanks for posting the indicator I will test it out.

@ Lilpip great analysis.

@ scfx - I thought you were coming out of a long at 1680 or so the other day.... in any case I meant you found the right place in welcoming you to this thread. Please feel free to post your views, setups, thoughts, analysis, etc.

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,688
  • Edited 11:42pm Jan 24, 2012 11:32pm | Edited 11:42pm
One of my sloppier charts let's see if this bar stays outside the line.

btw DAILY snip
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,689
  • Jan 24, 2012 11:59pm Jan 24, 2012 11:59pm
Quoting XTrade
One of my sloppier charts let's see if this bar stays outside the line.

btw DAILY snip
hey x just by reading ur better volume - the climax up bar its ending on higher volume than some prev bars - its yesterday and as explained by the creator ; it is a sign of a possible market top.
Have I got something on my face, SOLDIER?
  • #15,690
  • Jan 25, 2012 12:16am Jan 25, 2012 12:16am
We'll see, not sure who creator is. who is he?

what I know for certain is there is resistance that was old support at 1680
if it doesn't break the price may shed a buck 50 or so and try again.

on breach look for 175o then a possible push to take out the top.

gotta be up early - busted through on the 50 pips plus again.
orders set.
nite all

Quoting bumapatria
hey x just by reading ur better volume - the climax up bar its ending on higher volume than some prev bars - its yesterday and as explained by the creator ; it is a sign of a possible market top.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,691
  • Jan 25, 2012 4:21am Jan 25, 2012 4:21am
clearly if anyone is already short - MFI is showing green bars - hold your shorts. momentum is with them.

all we need is to clear these 2 trendlines to confirm a proper drop.


wonder if anyone is in with shorts as well.
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Have I got something on my face, SOLDIER?
  • #15,692
  • Jan 25, 2012 4:54am Jan 25, 2012 4:54am
Xtrade what is your broker?

FXCM volume is very different.

I don't think we can use volume because every broker has only it's own volume data.

So there is no match among brokers.
Attached Image
  • #15,693
  • Jan 25, 2012 4:59am Jan 25, 2012 4:59am
but price moves almost the same? unless ur broker deviates real data really badly.

one broker to the next eurusd shoudlnt be different rates by 10 pips max.

yes its going to be different - but it doesnt matter. we're all looking at the "same" thing in the end. the price movements cant really be manipulated (unless ure broker is an ass).



we are breaking TLs atm. a 4h close here would mean confirmed breakout.
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Have I got something on my face, SOLDIER?
  • #15,694
  • Jan 25, 2012 5:01am Jan 25, 2012 5:01am
Quoting bumapatria
clearly if anyone is already short - MFI is showing green bars - hold your shorts. momentum is with them.

all we need is to clear these 2 trendlines to confirm a proper drop.


wonder if anyone is in with shorts as well.
What is your target for this time Buma?
  • #15,695
  • Jan 25, 2012 5:05am Jan 25, 2012 5:05am
a more bearsih sentiment is a close below this fanline.

the red one if broken would mean yellow would be the target for next support.
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Have I got something on my face, SOLDIER?
  • #15,696
  • Jan 25, 2012 5:22am Jan 25, 2012 5:22am
bumapatria, price is the same, volume can't be the same. I'm talking about a difference in volume indicator because it is based in decisions of clients of a single broker. It is not based on price behaviuor, which is a result of every participant in the market.
  • #15,697
  • Jan 25, 2012 5:24am Jan 25, 2012 5:24am
Quoting Schizoprenia
What is your target for this time Buma?
still 1545.

closed a lower one for 9 USD.
left 2 upper running
Have I got something on my face, SOLDIER?
  • #15,698
  • Jan 25, 2012 5:25am Jan 25, 2012 5:25am
Quoting jsr
bumapatria, price is the same, volume can't be the same. I'm talking about a difference in volume indicator because it is based in decisions of clients of a single broker. It is not based on price behaviuor, which is a result of every participant in the market.
agree to disagree?

lol i dont know what to say - but tick volume is based on price change over a certain period of time (if im not wrong) and forex u cant really get the volume like stocks.

call me buma
Have I got something on my face, SOLDIER?
  • #15,699
  • Jan 25, 2012 5:55am Jan 25, 2012 5:55am
Quoting Sreym33
last night, sold from 75 down to 65... got out. short again at 69 at 11am.
It has a ways to fall still before it breaks upward again. I am anticipating it falling at least until the Fed statement tomorrow, maybe longer, then we'll see it rise.
see if 1650 will hold....
  • #15,700
  • Jan 25, 2012 6:44am Jan 25, 2012 6:44am
first class seat on eu
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market really looks to tank big. it usually does when cycles line up for a rise in price after a fall - or a fall in price after a rise.
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Have I got something on my face, SOLDIER?
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