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

  • #17,581
  • Mar 13, 2012 4:25pm Mar 13, 2012 4:25pm
Quoting kill56
u can find it at the grave yard fib m
i checked but cldnt find that one. can you send link plz.
  • #17,582
  • Mar 13, 2012 4:47pm Mar 13, 2012 4:47pm
Looks like I underestimated the low due to looking at the damn lower TF chart... I forgot to switch it. My apologies.

It is clear the last lower low was from last week at "rounding"

1760 which has just been tested. IF SHE CAN HOLD.

The chart is getting a bit screwy.

------------------------------------------------

This would form a nice double bottom on the daily If she holds. I have some analysis to do.

Quoting XTrade
LOOKS LIKE WE ARE CONFIRMING SUPPORT ON CHART AT 1680/(85 for rounding)

Third candle H1 now at 88. If she rises a bit more I may add an entry here.

Likely for a day trade due to the PA, shooting for a retest on 1700 by Asian Markets, yet that technically wouldn't be a day trade at that point...

If she drops the key will lie in reaction starting at 1678 prior low
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,583
  • Mar 13, 2012 5:02pm Mar 13, 2012 5:02pm
Quoting hollyspectre
i checked but cldnt find that one. can you send link plz.
here u go

http://www.forexfactory.com/showthre...65#post5427465
  • #17,584
  • Mar 13, 2012 5:08pm Mar 13, 2012 5:08pm
Quoting kill56
here u go

http://www.forexfactory.com/showthre...65#post5427465
you are so kind ty sir..=)
  • #17,585
  • Mar 13, 2012 5:41pm Mar 13, 2012 5:41pm
nOW THAT WOULD BE AN EVEN NICER
DDOOUUBBLLEE
BBOOTTOOMM
---v-----v----


Quoting grandia
Attachment

Been touching the first monthly support twice... (M S1)

If it goes below this level, I'm expecting it will touch 1625 area which is third weekly support, second monthly support and 61.8% retracement
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,586
  • Mar 13, 2012 5:53pm Mar 13, 2012 5:53pm
uploaded more ebooks at the grave yard enjoy
  • #17,587
  • Edited 7:26pm Mar 13, 2012 6:23pm | Edited 7:26pm
If price respects this, there is some room to go south.

TF: H4
Attached Image (click to enlarge)
Click to Enlarge Name: XAUH42012120313.png Size: 54 KB
  • #17,588
  • Mar 13, 2012 7:19pm Mar 13, 2012 7:19pm
JSR still no time frame.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,589
  • Mar 13, 2012 7:25pm Mar 13, 2012 7:25pm
Last one H4, previous ones H1.

Sorry, I didn't notice TF is not visible.
  • #17,590
  • Mar 13, 2012 8:02pm Mar 13, 2012 8:02pm
NP/
Yesterday I did a whole analysis thinking I was looking at silver for some reason and it was GOLD. So it is important to include the details for everyone. ]

Within reason that is; if you just made five posts explaining something you don't have to keep repeating the same thing. I think all get the drift.


XT
Quoting jsr
Last one H4, previous ones H1.

Sorry, I didn't notice TF is not visible.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,591
  • Mar 13, 2012 8:22pm Mar 13, 2012 8:22pm
Quoting XTrade
NP/
Yesterday I did a whole analysis thinking I was looking at silver for some reason and it was GOLD. So it is important to include the details for everyone. ]

Within reason that is; if you just made five posts explaining something you don't have to keep repeating the same thing. I think all get the drift.


XT
lol. I see what you mean.

Not all of them had the same purpose. Last H1 Image I posted was meant to show how easy is to miss a good TP when channel boundaries are hit while one is expecting price to reach target in the future.

I mean, setting a target based in a TrendLine is time related and not only S/R related.

In that case I missed a good oportunity to close my short and place a long with a great RR ratio.

I was busy reading something when that happened.
  • #17,592
  • Mar 13, 2012 9:11pm Mar 13, 2012 9:11pm
Where ever you are, what ever you do, keep this picture in your mind, because a picture speaks a thousand words:

Attached Image
  • #17,593
  • Edited 10:20pm Mar 13, 2012 10:00pm | Edited 10:20pm
Is a pretty major S/R level and pivot for the past several months now, at least Oct 11.

Channel bottom (support) is coming in at appx 1650/45 just below current spot price. * Edit: While typing spot rose appx 15 USD to 1675)

Dip line or (reaction low) would be appx -- not time adjusted "right now right below at 1555) interestingly enough exactly where the DTL from the 1920 high meets the uptrend lower channel line. Time adjusted I would add 50 bucks.

In any case. The chart looks a bit indecisive and should offer up a break, likely north, yet no guarantees, if the USD continues to be inversely correlated ATM with gold it may fall.

That being said a long now 1660 - edit - THAT WAS THE REACTION LOW and the price is already 15 USD higher, yet teetering around. should have a stop below 1643 at least and a potential TP of appx 1740
which is the 61.8 Fibo of the recent swing high to low at 1660 area from 1790 tough resistance for now.

A short below 75 or 65 may be ok yet face a roadblock at 60 again and then potentially 50 and 40. That is your risk to take. may work, but I don't see much more below 1650 maybe 45. This would be a 30 USD dip from current spot @ 1775 area.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,594
  • Mar 13, 2012 10:08pm Mar 13, 2012 10:08pm
Quoting XTrade
Is a pretty major S/R level and pivot for the past several months now, at least Oct 11.

Channel bottom (support) is coming in at appx 1650/45 just below current spot price.

Dip line or (reaction low) would be appx -- not time adjusted "right now right below at 1555) interestingly enough exactly where the DTL from the 1920 high meets the uptrend lower channel line. Time adjusted I would add 50 bucks.

In any case. The chart looks a bit indecisive and should offer up a break, likely north, yet no guarantees, if the USD continues to be...
Hi Mr. XTrade,

As I am still noob in XAU metal, I like to know more on the Bernanke speech coming. If he talk about more hawkish favour on U.S. economy, will we see massive sell-off repeated last week? And possible trigger price below 1660 or may be 1600?

I really like to know more, as I am really green on this issue.

breeze
  • #17,595
  • Mar 13, 2012 10:22pm Mar 13, 2012 10:22pm
in my opinion, today bernanke speech and USD economic data that coming out this week will greatly influence how ppl perceive about US economy and its currency. perhaps after this week tremendous up down, next week will be a good time to buy in without any massive news that influence?
just my opinion and hope to get some positive criticism from the experience trader here as i am new in this forum
  • #17,596
  • Mar 13, 2012 10:36pm Mar 13, 2012 10:36pm
Quoting Jhonypips
My expe ...........
Say hello to my little ...... ignore list.

Bold red font is SHOUTING.

Beside you have yet to back up anything you've said.
  • #17,597
  • Mar 13, 2012 10:44pm Mar 13, 2012 10:44pm
I'm hoping that gold will reach the 1520 level once again creating triple bottom (is there such thing?)

I would bet my house to buy gold on this level

I guess there is a very small chance that it will come down to this level again

but let's test the 1620 level first
  • #17,598
  • Mar 13, 2012 11:23pm Mar 13, 2012 11:23pm
Quoting Jhonypips
My experience says never ever copy trades of any trader even if he is the champion of trading.

95% chances are that you will loose your whole account.

Another thing you keep copy trades you will never learn. If you are a newbie first learn it and do demo trading.

I have seen majority to traders who follow forums and come to forum to get an idea blown their account many times.
so you know everything from your own experience...you must be very great. you are probably God!

*sarcasm intended*

In the meantime, I think it's about time to buy a little bullions, and then adding up more both when it goes down or when it goes up. More when it goes down, probably buy twice more the bullions, looking at 61.8 retracement around 1624....

I'm on gold bars side and staying away from XAU pairs for now, just because Bernanke is on tonight and God knows how USD will behave for the rest of the week.
trading is my zen
  • #17,599
  • Mar 13, 2012 11:28pm Mar 13, 2012 11:28pm
Quoting grandia
I'm hoping that gold will reach the 1520 level once again creating triple bottom (is there such thing?)

I would bet my house to buy gold on this level

I guess there is a very small chance that it will come down to this level again

but let's test the 1620 level first

If you see gold at $2000 like me, why wouldn't you get in at $1600 - 1625 - 1650 ?

Trying to Pick up a bottom can be costly at times, i personally don't see $1500 - $1525 coming, but i can be completely wrong.

$1600 to $2000 that is a $400 game that too within months.

Again, don't follow my view, it can be completely wrong.
  • #17,600
  • Mar 14, 2012 1:00am Mar 14, 2012 1:00am
Quoting XTrade
Looks like I underestimated the low due to looking at the damn lower TF chart... I forgot to switch it. My apologies.

It is clear the last lower low was from last week at "rounding"

1760 which has just been tested. IF SHE CAN HOLD.

The chart is getting a bit screwy.

------------------------------------------------

This would form a nice double bottom on the daily If she holds. I have some analysis to do.
She needs to hold 1660 for another 22 hours
Lehman Sisters Wouldn't Have Failed
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