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

  • #15,801
  • Jan 26, 2012 12:09pm Jan 26, 2012 12:09pm
Quoting Knight Rider
Buma, I like you - I really do. I think you have a positive attitude and was going to chime in and say a few words, but then I realised most of these people on forums are not really traders. They are gamblers or day traders and they don't really want to trade correctly.

I was going to offer some advice (take it or leave it). I was simply going to tell you that imho trading is boring. Find a few bull markets that you like; find a low risk method to enter the market and then learn to wait. It really is that simple (and make sure you are in "charge...
again - great potential advice to make me a better risk manager of my cargo. thank you so much man for your insight. i really really wish i can trade a trend. it really sucks to know i cant just trade it. i prefer volatility and craziness. swings here and there. but then again - trends might be the answer for another side of me.

well if u talk about waiting bro - ive been waiting for this for quite some time. but it definitely isnt a "trend trading" mindset.
but definitely im prepared ahead of time for dow. i plan to position trade it as well. but again is the way i .. "trade" (sorry for using the word).

but thank you so much for your advice - very very insightful and deep
Have I got something on my face, SOLDIER?
  • #15,802
  • Edited 10:43pm Jan 26, 2012 12:12pm | Edited 10:43pm
This is how it's supposed to pan out.

Note this Symmetrical triangle formed off the weekly and there could be 2 ways of getting the target I am showing the one that relates to the most recent price action towards the end of the pattern. This is measured from appx 1640

The other because I also am using the measurement for the target from the dip line I technically should have drawn the line for measure after at the point which would be near 1600.

Yet the price ended up returning to respect the original channel bottom line not the dip at the end and then came the break thus I used a mix, the measure of largest potential price and the triangle area last respected before break- so in essence it's a combo and thus an approximate... It's a bit confusing.

Also the pivot of 1630 nearly divides the channel in half -

The only way I could seem to include the target of 2100 for completion was to seem to scrunch the chart down and pull the sliders in on the H4 for some reason/ would think the monthly could do it but no. MT4 major limitation....chart manipulation...

Here is the chart - it's important to realize that this pattern took 4 months to create itself. so it could take a while to reach the target it will not be a straight line. But judging by the break and the range before perhaps 2.5 months? I don't know I have to look further into it
to get the timing. Not sure it is an exact science.

Quoting forexfacts
Those who build straight lines up, what would they do when they see there is no or little crowd following them? make more straight lines up?

The crowd is busy in Technicalities, and is very very cautious too, see the people on this thread.

What was the break point here? was it 1680 or 1722 ? in that case we'll see a slow growth now, because we have "broken" the "barriers" and "Technically" it "must" go upward because that is what the "charts" tell us.

All i can say is play safe, i have very little stake in this game, stay cautious!...
Attached Image (click to enlarge)
Click to Enlarge Name: 5 month Traingle bull break explained.GIF Size: 40 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,803
  • Jan 26, 2012 12:17pm Jan 26, 2012 12:17pm
You can. Use bigger Time frames smaller positions and scaling in and out to reach larger targets which will be natural due to the TF you are working on.

Also dont tamper or fvck with your positions. You should not be concerned about certain lower time frames or look at them for help with long term trend trading.

Quoting bumapatria
again -really really wish i can trade a trend. it really sucks to know i cant just trade it. i prefer volatility and craziness. swings here and there. but then again - trends might be the answer for another side of me.

well if u talk about waiting bro - ive been waiting for this for quite some time. but it definitely isnt a "trend trading" mindset.
but definitely im prepared ahead of time for dow. i plan to position trade it as well. but again is the way i .. "trade" (sorry for using the word).

but thank you so much for your...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,804
  • Jan 26, 2012 12:43pm Jan 26, 2012 12:43pm
Quoting XTrade
You can. Use bigger Time frames smaller positions and scaling in and out to reach larger targets which will be natural due to the TF you are working on.

Also dont tamper or fvck with your positions. You should not be concerned about certain lower time frames or look at them for help with long term trend trading.
ill try that sometime with another account - the mindset just cant change in a matter of seconds of reading . i dont expect to change i wanna have the swing mindset and the position trader as well.

scalping is just dead for me. used to scalp a lot - but neh not for me . but entries on lower tf helps.


btw Spanish unemploymed in 4q of 2011 overpasses 5 mill.

ucad in round number and stop hunt of early RN buyers compelete entered now - targets for attack to be complete . 50.
Attached Image (click to enlarge)
Click to Enlarge Name: lots of sell stops.gif Size: 10 KB

parity too btw. too many sell stops at 9980 to to be hit just yet - price will see to possibly 50 for support retest and some limits triggering for shorts
Have I got something on my face, SOLDIER?
  • #15,805
  • Jan 26, 2012 1:35pm Jan 26, 2012 1:35pm
Buma, I don't understand why you don't want to use yor edge in gold.

You know when to open a trade. You have shown us open trades in profit.

So the problem is that you just don't want to close them.

If market is saying that something has changed since your last analysis, it ain't mean that you were wrong, it means that something beyond your control has changed.

If opening a trade was a mistake then it had to go against you from the very beginning.

But after having a trade with 10$ of unrealized profit, you must understand that your problem is not about when to open a trade, but when to close it.
  • #15,806
  • Jan 26, 2012 2:39pm Jan 26, 2012 2:39pm
Hi everyone, just taken a short from 1,722.84 SL 1,732.00 TP 1,715.00. I'm looking for a bounce off the 50 fib
Attached Image (click to enlarge)
Click to Enlarge Name: Gold27jan12.png Size: 64 KB
  • #15,807
  • Jan 26, 2012 3:35pm Jan 26, 2012 3:35pm
Quoting Sreym33
I use the 'trend' indicator as my guide, in fact 3 of them along with a very long term 4th line which is only a reference. The trendline changes color when the trend changes. I have the up direction trend lines colored different shades of blue and the downtrend trend lines colored shades of red. Also, as you can see in the picture, I use heiken ashi candles instead of regular candles.
[b]When all three curves are the same color, (all shades of blue or red)and the heiken ashi (HA) candle closes in the same direction as the curves, the trade is safe...
Are these trendline indicators related to the NonLagMa and/or TCCI indicators?

And how did you determine the 'length' settings, please?

(a mq4 file would allow a closer inspection of the code and better feedback of course - you can PM me if you prefer)
  • #15,808
  • Jan 26, 2012 5:44pm Jan 26, 2012 5:44pm
Quoting ikdenk
Are these trendline indicators related to the NonLagMa and/or TCCI indicators?

And how did you determine the 'length' settings, please?

(a mq4 file would allow a closer inspection of the code and better feedback of course - you can PM me if you prefer)
they are not related to those indicators, I don't know what those are. I determined the length through trial and error... Which combination of settings would give me a reliable reading the most often. You can use longer periods if you want to try for longer trends but these are the settings I chose.
All I have for the trend line is the ex4. i chose the trendline indicator instead of moving averages because this seems to take out the chop and they are smooth, easy to follow curves.

thanks!
  • #15,809
  • Jan 26, 2012 6:17pm Jan 26, 2012 6:17pm
Pullback likely coming, overnight or tomorrow.

Profit taking, overbought or whatever you want to call it.
  • #15,810
  • Edited 7:14pm Jan 26, 2012 6:59pm | Edited 7:14pm
Quoting SunTrader
Pullback likely coming, overnight or tomorrow.

Profit taking, overbought or whatever you want to call it.
yeah we got the fomc gap to possibly fill.
Have I got something on my face, SOLDIER?
  • #15,811
  • Jan 26, 2012 7:16pm Jan 26, 2012 7:16pm
And a Euro Daily PinBar.
  • #15,812
  • Jan 26, 2012 7:18pm Jan 26, 2012 7:18pm
and a dow jones pin on the daily as well
Have I got something on my face, SOLDIER?
  • #15,813
  • Jan 26, 2012 7:33pm Jan 26, 2012 7:33pm
usd also pin on daily buyers seem still resilient to keep price around 80. cad has potential to reach 10120 to fill some gaps but not so sure since some lower gaps already filled...

lets see tho the action

for a possible supply zone retest and the hidden gap fills

its either that or that wide bar turns into a supply zone. observe PA peeps..
as for gold the key change in supply and demand was the fomc pop up. observe Pa whether price penetrates the hidden gap - or acts as a support line

now i gotta go study - bye and TC
Attached Image (click to enlarge)
Click to Enlarge Name: usdc.gif Size: 10 KB
Have I got something on my face, SOLDIER?
  • #15,814
  • Edited 10:46pm Jan 26, 2012 10:34pm | Edited 10:46pm
Quoting lilpip
Once again heads up on big move came from silver.
Move down to wed daily trend guide 31.51 and both turned and ran north at the same time along with reaching daily highs at the same time and eventually breaking them @ 33.00. Will break hold ? Bias is up from 32.80 -33.00
thur. daily
33.61-81
32.27
30.73
gold thur.daily
1723
1683-89
1655
retest and hold of wed daily breakout at 33.00 noted as she headed up to thur.daily highs and rotated back on the daily.
fri daily
34.10-24
32.50
31.84
along with eye on wed. breakout area 33.00
golds close below thurs daily highs 1723 is noted, avoids breakout for the day.
  • #15,815
  • Jan 26, 2012 10:41pm Jan 26, 2012 10:41pm
Quoting lilpip
retest and hold of wed daily breakout at 33.00 noted as she headed up to thur.daily highs and rotated back on the daily.
fri daily
34.10-24
32.50
31.84
along with eye on wed. breakout area 33.00
hourly movement pushed down by sellers gold looks to be making a flag in which would break south and not north. maybe a fake

ice on gold is around 1700. that broken would give clear way to reach the wide bars of fomc moves at 1690 to either fill it or act as sup/dem level.
Have I got something on my face, SOLDIER?
  • #15,816
  • Jan 26, 2012 10:42pm Jan 26, 2012 10:42pm
Quoting XTrade
This is how it's supposed to pan out.

Note this Symmetrical triangle formed off the weekly and there could be 2 ways of getting the target I am showing the one that relates to the most recent price action towards the end of the pattern. This is measured from appx 1640

The other because I also am using the measurement for the target from the dip line I technically should have drawn the line for measure after at the point which would be near 1600.

Yet the price ended up returning to respect the original channel bottom line not the dip at...

Thanks for the explanation X Brother

But man we should never forget the manipulators, like us they also love to pick bottoms, those bottoms are way lower than our targeted bottoms, so..... i dont know.

The question Big players must be asking themselves: Is it a good price to accumulate more?

Early 1700s is a good price, should go close to 1800 before a fall, i dont know really, it seems too risky to me at the moment.

But at the end of the day it is the Experience that counts, you are in this business for a long time, i have just been a spectator, so you know how deep the water is, i don't, so my ears are open to you, bemac, suntrader, and many other respected members
  • #15,817
  • Jan 26, 2012 10:46pm Jan 26, 2012 10:46pm
Also, ears open to Lilpip of course
  • #15,818
  • Jan 26, 2012 10:50pm Jan 26, 2012 10:50pm
Can we Vote now for Monday?

Will Monday close in Positive or Negative ?
  • #15,819
  • Jan 26, 2012 10:53pm Jan 26, 2012 10:53pm
Quoting forexfacts
Can we Vote now for Monday?

Will Monday close in Positive or Negative ?
Myself, Ill know better at fri close, better yet weeks close.
  • #15,820
  • Jan 26, 2012 10:56pm Jan 26, 2012 10:56pm
Quoting fuse
Hi everyone, just taken a short from 1,722.84 SL 1,732.00 TP 1,715.00. I'm looking for a bounce off the 50 fib
My TP has been hit. Looking to go long now
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