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

  • #17,901
  • Mar 22, 2012 5:15am Mar 22, 2012 5:15am
Quoting jsr
Great work fuse.

I have 2 days waiting for that break and it happened when I was sleeping. lol

In deed it seems like a flag. If so, price could drop even more.
Thanks jsr, yes I hope so. Hopefully price will break 1,634. It seems to have bounced off previous low. Will wait and see. I have a target of 1,618.00. Will watch to see what happens.
  • #17,902
  • Mar 22, 2012 5:24am Mar 22, 2012 5:24am
there is strong resistance on the daily. so, i have gone for a long at 1634.

lets see how things go.
  • #17,903
  • Mar 22, 2012 5:25am Mar 22, 2012 5:25am
Quoting Cypher
think it will need to deal with that nice mature demand zone just above the 61.8fib first, it has been maturing since jan 13th, it did manage to test it last week before getting rejected
seems price has come back to re test demand area i mention other day, people look at supply and demand different like some say every time area is tested the stronger it is, but way i see it every time price test a area like demand every time it visits it, it taking away more buyers making it weaker so when it goes back again there might be less buyers there to fight supply off

if the 1637 demand area is breached the next demand area down i have is 1536 on the H4
  • #17,904
  • Mar 22, 2012 5:50am Mar 22, 2012 5:50am
Quoting whatfx
there is strong resistance on the daily. so, i have gone for a long at 1634.

lets see how things go.

Am assuming you mean support rather than resistance - unless you have a particularly novel take on things

beeb
  • #17,905
  • Mar 22, 2012 7:28am Mar 22, 2012 7:28am
Quoting Allseeingeye
Smart man dont be "fooled by the men behind the Curtains" They are the "REAL PUPPET MASTERS"
Thxs...yes sir
Life's a bitch....so be a dog and cover it!
  • #17,906
  • Mar 22, 2012 8:05am Mar 22, 2012 8:05am
looks like Gold took a bearish turn overnight. I thought this might happen if it didn't take a new resistance soon.

Tough to say what the next price point is. It is through the initial weekly channel bottom, yet the dip line is far away at almost 1550.

So I'd watch for a run on 1618/ 1600. If she continues down,

otherwise on a rise we really need to retake 1640/50

we'll see... Trade safe.
X
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,907
  • Mar 22, 2012 8:25am Mar 22, 2012 8:25am
Quoting beeb
Am assuming you mean support rather than resistance - unless you have a particularly novel take on things

beeb

yes, you are right , support.

however i got stopped out at 1629. so, - 5 pips.
  • #17,908
  • Mar 22, 2012 8:29am Mar 22, 2012 8:29am
If the flag pattern is completed, price could meet 1587.
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  • #17,909
  • Mar 22, 2012 9:14am Mar 22, 2012 9:14am
macd positive divergence in 4 hour Chart ???
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  • #17,910
  • Edited 10:37am Mar 22, 2012 10:03am | Edited 10:37am
Parallel lines work fine...Gold seems to have reached its target , and now its time for a bounce...targeting 1693...
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Imagination rules the world ...
Selym Hyll Return This Year: na
  • #17,911
  • Edited 11:21am Mar 22, 2012 10:22am | Edited 11:21am
Quoting Sreym33
1522-1790...
25% pullback was 1723, 38% - 1688, 50% - 1656, 62% - 1623, 75% - 1589
Price came to 1628ish, pretty close to 62% target.
4hr Macd divergence
4hr pin forming (edit : new chart attached)
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  • #17,912
  • Mar 22, 2012 5:57pm Mar 22, 2012 5:57pm
Does anyone have a view of the momentum that XAU is exhibiting to the downside? Can yesterday;s probe to the downside be considered a new leg down or a widening of the consolidation platform?
I have no enemy; I make Incautiousness my Enemy.
  • #17,913
  • Mar 22, 2012 7:56pm Mar 22, 2012 7:56pm
i wouldnt consider it a new leg down, on the H4 price has been in some side ways action for over a week now, the 1637/24 demand area held today

my view now is waiting to see what price wants to do next either move back up to test the 50 fib at 1656 to see if it wants to act as resistance or try another crack at breaking that mature demand area at 1637/24, if the 50 fib dont cause any problems i expect another shot at mondays high at 1669 to see if it can break up to make a higher high and start to change the daily downward move we have been in since price was rejected by that very mature supply area around the 1790 mark
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  • #17,914
  • Mar 22, 2012 9:53pm Mar 22, 2012 9:53pm
Too small to tell. Plus the reaction from the low did achieve the aforementioned price points.

Seems as of now to be just an opening of the current range.

Yet the problem with gold and silver is when there is no upward momentum, the bears slip in and the price can drop.

Quoting XTrade
looks like Gold took a bearish turn overnight. I thought this might happen if it didn't take a new resistance soon.

Tough to say what the next price point is. It is through the initial weekly channel bottom, yet the dip line is far away at almost 1550.

So I'd watch for a run on 1618/ 1600. If she continues down,

otherwise on a rise we really need to retake 1640/50

we'll see... Trade safe.
X

Quoting jimobiwan
Does anyone have a view of the momentum that XAU is exhibiting to the downside? Can yesterday;s probe to the downside be considered a new leg down or a widening of the consolidation platform?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,915
  • Mar 22, 2012 10:01pm Mar 22, 2012 10:01pm
Silver needs a nice boost, but seems to have found support in 31 so far.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,916
  • Mar 22, 2012 10:11pm Mar 22, 2012 10:11pm
with new quarter approaching and rotation back to quarterly trendguide 1632-34 area holding last week and so far this week.
lets get a weekly close above and start new cycle extending back out.
Looking at silvers weekly
weekly lows achieved at 30.93-95 area
lets see if the support holds and we get a rotation back up.
  • #17,917
  • Mar 22, 2012 10:15pm Mar 22, 2012 10:15pm
The deal seems to be this and someone can correct me if I am wrong.

Even bulls are not opposed ATM for the price to drop in small increments due to the past price action as well as the fact that the price is still locked in not only a 10+ year bull run, but a channel upwards from 08.

Now, when the price drops bulls get better entries for paper trades.

BUT, the physical price also becomes more attractive. Thus, there is sort of a double edged sword.

Longs won't exit, and yes there are people that hold positions for years.

Shorts will correct the price when it gets too high too fast, yet it seems,
there is no follow through due to the buying that sort of stops the price in it's tracks that is triggered in the physical market by even a small dip in price.

So we move sideways.
Just a theory.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,918
  • Mar 22, 2012 10:32pm Mar 22, 2012 10:32pm
lilpip any analysis for us tonight please kind sir??

EDIT: OOPS JUST SAW YOUR POST. Going to read..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,919
  • Mar 22, 2012 10:35pm Mar 22, 2012 10:35pm
well put, it comes down to supports,
in so many words my sentiments exactly,


x
Quoting lilpip
with new quarter approaching and rotation back to quarterly trendguide 1632-34 area holding last week and so far this week.
lets get a weekly close above and start new cycle extending back out.
Looking at silvers weekly
weekly lows achieved at 30.93-95 area
lets see if the support holds and we get a rotation back up.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,920
  • Mar 22, 2012 10:38pm Mar 22, 2012 10:38pm
Dear Mr. XTrade.

I am a noob. But I will like to seek your enlightenment in my queries.

Is there any correlation between equity and gold? I googled them, but found the answer irrelevant.

I read that back in 2005, gold price rose, the same with equity market. How is it then the situation change now? The Fed released "not-so-significant" improvement figures, and we see more fall in gold price. Europe is too not doing well, as shown on the latest figures released.

Just as when India traders are going to buy gold, India government imposed tax, which removes the bulls. I am puzzled. Is there conspiracy going-on?

The strong 10-year trends in gold. Will there be a possible technical break-down?


breeze
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