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

  • #15,881
  • Jan 30, 2012 10:29am Jan 30, 2012 10:29am
THis is about using SPEEDLINES as TA.

They can be very useful in establishing support, resistance, changes, and reversals. etc.

http://stockcharts.com/school/doku.p...resistance_lin

http://stockcharts.com/school/data/m...rl-3-tgtup.png
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,882
  • Jan 30, 2012 11:02am Jan 30, 2012 11:02am
Quoting Bemac
So... Your Short The Wagon I guess.
Good luck with that.
Short to where? 1,680.00?
B
I am mostly short gold call options. June strikes 2500 and above. December strikes 3000 and above. Market has to move straight up to take me out.
  • #15,883
  • Jan 30, 2012 12:08pm Jan 30, 2012 12:08pm
Quoting One billion
I am mostly short gold call options. June strikes 2500 and above. December strikes 3000 and above. Market has to move straight up to take me out.
Nice to hear. Wise Play in my mind.
Only thing to remember is "Don't Spend The ShortCall Funds Untill You Ar Out."

B
  • #15,884
  • Jan 30, 2012 12:51pm Jan 30, 2012 12:51pm
Quoting XTrade
Notice the line I have drawn to reference the declining volume present during consolidation.

Bolded text is from the quoted text in referenced post
You caught it early mate, I noticed the same thing a couple of days ago. I was looking at gold mining stocks and I noticed their pop intraday after the FOMC annoncement. I was looking at Goldcorp among other stocks.
  • #15,885
  • Jan 30, 2012 1:03pm Jan 30, 2012 1:03pm
Hi everyone, just taken a short position from 1,731.60 SL 1,735.62 TP 1,726.00. Will see how this goes. Looking to see if we get a bounce off the descending trend line
Attached Image (click to enlarge)
Click to Enlarge Name: Gold31jan12.png Size: 63 KB
  • #15,886
  • Jan 30, 2012 2:06pm Jan 30, 2012 2:06pm
Quoting fuse
Hi everyone, just taken a short position from 1,731.60 SL 1,735.62 TP 1,726.00. Will see how this goes. Looking to see if we get a bounce off the descending trend line
In an UPTREND you are Playing a Short Potential $6:00 Gain with a $4:00Risk?
Wow: Bigger bag than me.

B
  • #15,887
  • Jan 30, 2012 2:10pm Jan 30, 2012 2:10pm
1Hr Gold. Look Left along the Red Line.
Attached Image (click to enlarge)
Click to Enlarge Name: _jan 30 daily @1729.gif Size: 19 KB


Cargo. It's about Cargo.

B
  • #15,888
  • Jan 30, 2012 2:23pm Jan 30, 2012 2:23pm
What a great bump in gold... I guess Bulls are joining the thread again now.

After a long period of bears saying that it was going below 1500...

Now I guess we will all say it will go to 2000. and then when it goes down 100 dollars again, bears wil join again and sy that it will go to 1000 and so on and on and on. Right?
The Black Swan: The Impact of the Highly Improbable
  • #15,889
  • Jan 30, 2012 2:40pm Jan 30, 2012 2:40pm
right now i'm on the sideline til asia/london. Weekly daily 4hr and 1hr rsi are all pointing down but only time will tell if it will find support or not. Right now volume is very weak so no smart money trading
  • #15,890
  • Jan 30, 2012 2:44pm Jan 30, 2012 2:44pm
It's looking like H&S on H1 is forming.....

W
  • #15,891
  • Jan 30, 2012 3:22pm Jan 30, 2012 3:22pm
Quoting Walt
It's looking like H&S on H1 is forming.....

W
God Eye Walt. Tx.

B
  • #15,892
  • Jan 30, 2012 3:26pm Jan 30, 2012 3:26pm
Quoting Bemac
I see gold hitting 1,760 this week. Up to you if you want to wait for better entry.

B
As a Matter of fact; My SL on this Trade is 1,713 (Poss 1Hr H/S)
Still agree. 6 Bars ago.
  • #15,893
  • Jan 30, 2012 3:36pm Jan 30, 2012 3:36pm
Well... it looks like H&S might be forming although I would rather be wrong since I'm long... but if it is forming then I guess that we will see a drop to +- 1690 region or even 1680.

What do you think ?

W
Attached Image (click to enlarge)
Click to Enlarge Name: gold_h1_h&s.jpg Size: 135 KB
  • #15,894
  • Jan 30, 2012 3:51pm Jan 30, 2012 3:51pm
Quoting Walt
Well... it looks like H&S might be forming although I would rather be wrong since I'm long... but if it is forming then I guess that we will see a drop to +- 1690 region or even 1680.

What do you think ?

W
I think I will Wait to see ic the H/S Conforms or Fails. SL located.
Still In. Sometimes it takes a little Nerve to Trade.

B
  • #15,895
  • Jan 30, 2012 3:56pm Jan 30, 2012 3:56pm
Quoting Bemac
I think I will Wait to see ic the H/S Conforms or Fails. SL located.
Still In. Sometimes it takes a little Nerve to Trade.

B
Ya, me too, I can take the drawdown anyway, I'm not over-geared. I will just take out my SL and wait for the trend to continue if the H&S confirms, buying more at the bottom.
  • #15,896
  • Jan 30, 2012 5:16pm Jan 30, 2012 5:16pm
Quoting abc2010
Hello, as i see it we are in fascinating times for GOLD and Silver, price is low, size of positions in COT report is still lowest in years and slowly increasing, on my chart all indicator suggest excesive oversold zone, and we are still in money printing enviroment.

Here in attach is my picture of future TP.

Now is the time which future traders will looks at and say "Man, only if I bought Silver at that price"
I showed you in advance what will happen, and now you see how we progressing. Keep believing till we reach our target. At any circumstances dont stop believing, be bullish, do your best, teach others about my prophecy, share with friends and profit. Dont listen to voices which discourgare you from this goal. We design our future and we are THE MARKET.
  • #15,897
  • Jan 30, 2012 7:33pm Jan 30, 2012 7:33pm
Quoting abc2010
I showed you in advance what will happen, and now you see how we progressing. Keep believing till we reach our target. At any circumstances dont stop believing, be bullish, do your best, teach others about my prophecy, share with friends and profit. Dont listen to voices which discourgare you from this goal. We design our future and we are THE MARKET.
Yes you did. You are an Ace ABC.. Glad you are here.

B
  • #15,898
  • Jan 30, 2012 8:37pm Jan 30, 2012 8:37pm
hi guys usd index about to test weekly lows.. check out my image

if price breaks below I will be looking to join the bulls on xau/usd
Attached Image (click to enlarge)
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  • #15,899
  • Jan 30, 2012 8:57pm Jan 30, 2012 8:57pm
Quoting Walt
Ya, me too, I can take the drawdown anyway, I'm not over-geared. I will just take out my SL and wait for the trend to continue if the H&S confirms, buying more at the bottom.
H N S rejected on H1, i would say the bull would continue up north.

However on Daily chart, i see a double bottom

First bottom: 1532
Second bottom: 1522

This double bottom has yet to complete its course. What do you guys think

R
  • #15,900
  • Jan 30, 2012 9:25pm Jan 30, 2012 9:25pm
I'm with the bulls on this one. Here's my chart analysis. After some correction I think the USD will keep dropping sending this north!!
Attached Image (click to enlarge)
Click to Enlarge Name: Gold long.png Size: 70 KB
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