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

  • #16,561
  • Feb 21, 2012 8:29pm Feb 21, 2012 8:29pm
ok folks. made easy pips on eu last few days.

now good setup on gold. this my next trade following my last post and trade. havent traded gold.

entered short at 1756. swing trade, will leave open.
  • #16,562
  • Feb 21, 2012 8:42pm Feb 21, 2012 8:42pm
Here is a good way for you to look at things.

Look at gold as 25 50 75 100 and see how it reacts at these points.

You will probably begin to notice things like today.

It moved thirty but settled with a move of 25 thus using quarters can and will line up with some techs. 1000. 1600 1650 1800etc

Gold is traded many different ways and they all affect the spot price,there is no way to tell how much open interest in total there is at once.

Gold is also driven by fear, Greed, Manipulation and HEADLINES.

So it is always important to follow news. If there is none, go outline support and resistance and draw TLs and you can come up with a long and short scenario using either 10s or 1/4s as I mentioned before.

Quoting forexfacts
Yes Sir, yesterday's move was purely based upon the news, i meant what the market is going to follow now, the market is very cautious so it is not going to ignore technicalities or is it, i don't know....
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,563
  • Feb 21, 2012 8:52pm Feb 21, 2012 8:52pm
Quoting whatfx
ok folks. made easy pips on eu last few days.

now good setup on gold. this my next trade following my last post and trade. havent traded gold.

entered short at 1756. swing trade, will leave open.
I see an inverted H&S in daily chart and also a falling long term wedge broken on Jan 25th. I believe those are signs of bullish continuation.

61.8% Fib resistance may be a good chance to sell and also it is the third top now in daily in the same level. And the trend line break in weekly is yet to re-test. So even i would take a small short now and add if bearish tone gets strengthened.

Chart attached.
Attached Image(s) (click to enlarge)
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  • #16,564
  • Feb 21, 2012 9:02pm Feb 21, 2012 9:02pm
Yes they are. Good call on the H and S !!!

I noticed that the other day but have yet to chart it at all... It looks pretty clean.

Quoting FX Tsunami
I see an inverted H&S in daily chart and also a falling long term wedge broken on Jan 25th. I believe those are signs of bullish continuation.

61.8% Fib resistance may be a good chance to sell and also it is the third top now in daily in the same level. And the trend line break in weekly is yet to re-test. So even i would take a small short now and add if bearish tone gets strengthened.

Chart attached.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,565
  • Feb 21, 2012 9:06pm Feb 21, 2012 9:06pm
Where do you see a swing trade in gold,
short,
off 1756 taking you to?

I would look to buy a dip. And ride. The PA is not fit for swing trading right now.

We are going up slowly but surely, and the news is pushing there is very little downward momentum to be found for anything more than maybe a 25 $ correction on a 60 USD day.

IMO....

Quoting whatfx
ok folks. made easy pips on eu last few days.

now good setup on gold. this my next trade following my last post and trade. havent traded gold.

entered short at 1756. swing trade, will leave open.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,566
  • Feb 21, 2012 9:10pm Feb 21, 2012 9:10pm
Quoting XTrade
Yes they are. Good call on the H and S !!!

I noticed that the other day but have yet to chart it at all... It looks pretty clean.


Flag too says bullish !!!
Attached Image (click to enlarge)
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  • #16,567
  • Feb 21, 2012 9:19pm Feb 21, 2012 9:19pm
Better view in 4H
Attached Image (click to enlarge)
Click to Enlarge Name: xau 4H flag.png Size: 50 KB
  • #16,568
  • Feb 21, 2012 9:42pm Feb 21, 2012 9:42pm
i would be xtremely cautious about going long or short thats why i havent been on gold recently.
we had a nice jump on the venus 90 pluto natural harmonic to gold but is that a lagging hit to a possible drop or just a bottom?

to me it looks bottomed out but hell it looks like a possible double top too.

here is a cycle of my own
and some sq9 support resistance levels. this is a resistance zone and before looking for 1800 it has to clear these levels cleanly.

i would go short from this position but that would be against my rules of not trading when in a doubtful position..

mixed signals means no trade until more clarity.
Attached Image (click to enlarge)
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Have I got something on my face, SOLDIER?
  • #16,569
  • Feb 21, 2012 9:55pm Feb 21, 2012 9:55pm
suually when i am stuck on the higher tiemframes i dial down to see what is there on the lower ones as the visualization of price through different times can be helpful even though its the same thing.

ill trade this if price reaches the support or resistance at that time.
the outsided bar H-gap is filled for past few weeks but there is no breach of the gap.
Attached Image (click to enlarge)
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Have I got something on my face, SOLDIER?
  • #16,570
  • Feb 21, 2012 10:14pm Feb 21, 2012 10:14pm
Yes!
This same pattern on the Weekly Chart is also potential breaking bullish flag.
pattern will be great if it pans out and knock out the old high at completion..

Quoting FX Tsunami
Better view in 4H
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,571
  • Feb 21, 2012 10:31pm Feb 21, 2012 10:31pm
Quoting XTrade
Yes!
This same pattern on the Weekly Chart is also potential breaking bullish flag.
pattern will be great if it pans out and knock out the old high at completion..
Yeah.... I expect ti to happen tomorrow
  • #16,572
  • Feb 21, 2012 10:56pm Feb 21, 2012 10:56pm
The next push on silver will look to test
35.60
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,573
  • Feb 21, 2012 11:27pm Feb 21, 2012 11:27pm
Quoting XTrade
The next push on silver will look to test
35.60
Nice analysis. If silver can break ~35.60 or over $36, the price could be flying high.
  • #16,574
  • Feb 21, 2012 11:32pm Feb 21, 2012 11:32pm
Possible target around 1,818.00 if price pushes through double top?? Chart D1
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  • #16,575
  • Edited 12:44am Feb 22, 2012 12:29am | Edited 12:44am
Quoting bumapatria
i would be xtremely cautious about going long or short thats why i havent been on gold recently.
we had a nice jump on the venus 90 pluto natural harmonic to gold but is that a lagging hit to a possible drop or just a bottom?

to me it looks bottomed out but hell it looks like a possible double top too.

here is a cycle of my own
and some sq9 support resistance levels. this is a resistance zone and before looking for 1800 it has to clear these levels cleanly.

i would go short from this position but that would be against my...
with all my respect thank you for your kindness..
  • #16,576
  • Feb 22, 2012 12:40am Feb 22, 2012 12:40am
Quoting seanpark
with all my respect thank you for your kindness..
nice charts - i think ure a breakout trader. i personally am against breakout trading. i either catch a pullback or a retest baiscally the beginning of a swing. the dangers of breakout trading is u get the end of the move and not really the start of it. i prefer a retest than a breakout. just my views though mate

but if thats what u do - good luck i wish u all the best
u mgiht want to tune in to lower timeframes maybe just a thought

take care me need to study off now
Have I got something on my face, SOLDIER?
  • #16,577
  • Feb 22, 2012 12:42am Feb 22, 2012 12:42am
SYM T and BuLL FlaG

off Weekly estimated targets
Attached Image (click to enlarge)
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,578
  • Feb 22, 2012 1:03am Feb 22, 2012 1:03am
Oddly yes 36.50 is rez as well

Over 40 and she will test 50
Quoting blackhawkfx
Nice analysis. If silver can break ~35.60 or over $36, the price could be flying high.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,579
  • Feb 22, 2012 2:06am Feb 22, 2012 2:06am
Quoting XTrade
Technically this triangle is broken already.


It formed off the weekly channel that is rising and the old Downward trendline with was broken about 4 weeks ago with an $90 Weekly candle at 1645 break point.

Please look back a few pages and you will see it in clear discussion in the thread.

I wouldn't agree with your chart due to what has already been produced on the weekly and the current high.

Also the past two "moves" have been bullish from the low of the triangle.
Gold has been rising from December 1520 and sideways part of feb....
This is actually the silver chart. But I understand what you are saying. Thanks for clarifying. I too would have liked to see the daily Hand S or even the weekly H an S pull off. But who knows really what the market does.
  • #16,580
  • Feb 22, 2012 3:42am Feb 22, 2012 3:42am
Quoting XTrade
Where do you see a swing trade in gold,
short,
off 1756 taking you to?

I would look to buy a dip. And ride. The PA is not fit for swing trading right now.

We are going up slowly but surely, and the news is pushing there is very little downward momentum to be found for anything more than maybe a 25 $ correction on a 60 USD day.

IMO....

both you and fxtunami are right. i will monitor closely and see what happens...

however i will be taking scalp trades in between. hopefully reducing any losses might occur. but fingers crossed, no losses.
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