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

  • #18,021
  • Mar 26, 2012 10:57am Mar 26, 2012 10:57am
Quoting XTrade
And??? it probably is floating on the mt4 platform

FXCM uses bid and ask charts -

ON MT4 based brokers ALL CHARTS are bid.
i know the trading station was on the bid chart as well that i posted
  • #18,022
  • Mar 26, 2012 10:58am Mar 26, 2012 10:58am
Seeing GC 1690 - 96 as the downtrend from early Feb - also noting 200 day MA

beeb
  • #18,023
  • Mar 26, 2012 12:33pm Mar 26, 2012 12:33pm
Gold sitting just below daily 25 EMA. This should provide good resistance.

Just remember that tomorrow is the future's options expiration on COMEX and the largest nearby open interest is in 1700 strikes. MMs might try to take it there to blow the weak hands out.
  • #18,024
  • Mar 26, 2012 1:37pm Mar 26, 2012 1:37pm
Quoting jimobiwan
or should i be looking closer in, say recent H:1790 and L:1627.8?

I want something in addition to MAs and Stos to base entry/exits for moves
Jim, Draw your fib from 1522 to 1790. you will see that 1656 and 1688 line up nicely.
  • #18,025
  • Edited 3:25pm Mar 26, 2012 3:20pm | Edited 3:25pm
The panic in Apr Gold call options at strikes 1705 , 1710 and above tells me that the MMs have once again managed to spook the short side of the Comex option players. Gold should test the 1685 support level tomorrow (daily 25 EMA) and then attack the 1700 level.

I like very much this volatility.
  • #18,026
  • Mar 26, 2012 4:53pm Mar 26, 2012 4:53pm
Quoting jimobiwan
How do you set the FIB on XAU? I have run the scale from 1524 (DL of 29DEC11) to high of 1916.9 (DH 06SEP11). Is that how you do it? I'm on the daily.
yeh do fib from low at 1522 to the high at 1790, then pull another fib in different colour from 1790 high back down to 1627 low that way you should get 50fib around 1709 from the rejection we had from 1790 area
  • #18,027
  • Mar 26, 2012 5:27pm Mar 26, 2012 5:27pm
End of the week is also end of the month, end of the 1st quarter.
  • #18,028
  • Mar 26, 2012 6:09pm Mar 26, 2012 6:09pm
Doesn't matter, fibs should in my eyes either be on the last SWING HI and SWING LO or vice versa however the move occurs.

OR on MAJOR Long term --- Daily Monthly Charts of MAJOR swings.

ie: Record High to low after for retracement UP.

Quoting jimobiwan
or should i be looking closer in, say recent H:1790 and L:1627.8?

I want something in addition to MAs and Stos to base entry/exits for moves
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,029
  • Mar 26, 2012 6:09pm Mar 26, 2012 6:09pm
looks like there are some good traders here.

late sale on a few tech confluences.

manual tp at one of those levels if pa (on lower tfs) shows buyers.

..
Attached Image (click to enlarge)
Click to Enlarge Name: 26diagsellh4.gif Size: 31 KB
  • #18,030
  • Mar 26, 2012 6:10pm Mar 26, 2012 6:10pm
Welcome,

What are you expecting as a Dollar target, from this short>
?

ie: 5 USD move 10?

Quoting Tyoon
looks like there are some good traders here.

late sale on a few tech confluences.

manual tp at one of those levels if pa shows buyers.

..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,031
  • Mar 26, 2012 6:14pm Mar 26, 2012 6:14pm
Quoting XTrade
Welcome,

What are you expecting as a Dollar target, from this short>
?

ie: 5 USD move 10?
sorry not sure if i know what you mean.. usd in terms of my expected equity gain? or as in what we could refer to as points/pips?
  • #18,032
  • Mar 26, 2012 8:19pm Mar 26, 2012 8:19pm
Hi, sorry, I have to explain the way pips work in dollar amount for Xau often in this thread for the noobs.

What I mean is.

Are you shooting for a FIVE USD CHART MOVE? Meaning 500 pips?

Or in other words the you sold at 1605 and want a target of 1600, hence my example
a 5 USD move on the chart and or a 500 pip move all the same, just trying to make it simple so everyone understands.

Ten? Twenty? 500? LOL!

I'm sure you got me know!
Glad to see a new member.

X

Quoting Tyoon
sorry not sure if i know what you mean.. usd in terms of my expected equity gain? or as in what we could refer to as points/pips?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,033
  • Mar 26, 2012 10:24pm Mar 26, 2012 10:24pm
She ain't giving it up tonight too easy!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,034
  • Mar 26, 2012 10:33pm Mar 26, 2012 10:33pm
we know the significance of the 1685-89 area and the score , if were heading north we need to get on the otherside.

rotation back to weekly pivots 1685-89 and 32.90 noted.
  • #18,035
  • Mar 27, 2012 1:50am Mar 27, 2012 1:50am
Quoting XTrade
Doesn't matter, fibs should in my eyes either be on the last SWING HI and SWING LO or vice versa however the move occurs.

OR on MAJOR Long term --- Daily Monthly Charts of MAJOR swings.

ie: Record High to low after for retracement UP.
ok thanks.
I have no enemy; I make Incautiousness my Enemy.
  • #18,036
  • Mar 27, 2012 2:06am Mar 27, 2012 2:06am
Quoting jimobiwan
ok thanks.
But u can still tell me

A. Are you trying to retrace an old move to forecast price UP
B. Trying to retrace an old move to forecast DOWN.

Tell me which one and I will use the record High and the according swing LO

pull the fibs and post the chart....

But I'll post it tomoro

K?

So which one?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,037
  • Edited 2:43am Mar 27, 2012 2:31am | Edited 2:43am
Interesting times......

GC is bang up at diagonal resistance from early feb but for the time being is holding there. Given that daily MACD has crossed up from oversold I would have thought you would start to see fund flows into the long side. However we are at end of month/quarter/UK financial year so it might be the first week in April before this happens - and only if we maintain altitude.......

beeb
  • #18,038
  • Mar 27, 2012 2:55am Mar 27, 2012 2:55am
Quoting split_unit
Heres a weekly chart of the gold miners ETF. The ETF is at a key weekly inflection point, I expect to see volatility here soon.
Well, GDX bounced at that trendline, again... it has bounced so many times that I lost count. Anyway, this bounce triggered one of my setups on one of the major gold companies Barrick Gold. Its ticker is ABX I am looking for a short term position in it with the following:

 

  1. Entry > $44.75
  2. SL@ $43.59 (Setting the stop here will give the stock enough room to move around, if my stop gets hit that would tell me that my trade didn't work. In other words your stop is supposed to invalidate your trade not your idea. Anything can happen in the market, however, consistency is key, in the future, I would take the trade again and again no matter what happens.)
  3. My risk is $1.16
  4. My first target it $46.50 (My profit target is realistic, this stock should get there easily, if it fails then my stop will be move to break even upon 1/1 reward/risk. My profit target is at the previous swing high which occurred on 8/3/2012)
  5. My first tp is $2.91
  6. R/R is 2.91/1.16= 2.5 (My reward is more than double my risk which is okay... I would have preferred higher multiples but I accept anything higher than 2/1).


(a one cent move in the equities market on 100 shares is equivalent to 1 pip on a mini lot which is $1).

If ABX moves, I expect the entire miners industry to move with it. Yesterdays vicious rise in gold has triggered some buying here. I thought I'd list the above for everyone to see how I trade these setups. Whats important to understand here isn't how I came up with the setup but the risk management.


P.S. Sorry if the charts not clear, it can easily be accessed here.

Attached Image
  • #18,039
  • Mar 27, 2012 4:09am Mar 27, 2012 4:09am
SILVER HITS 33 DESIRED MARK NOW!!!!

ALL WE NEED TO DO IS STAY ABOVE

GOLD ON VERGE OF 1700 TAKEOVER in the 1690s!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,040
  • Mar 27, 2012 4:15am Mar 27, 2012 4:15am
Split thanks for adding these updates on the GDX, Barrick and the big miners,
and any GLD analysis is welcome as well.
There are also those new ETFs I believe on NYSE LIFFE (correction?)
for Gold and silver.

I think this is a fabulous way to add some diversification of the GOLD MARKET AS A WHOLE to the thread.

All and ALL - these prices DO affect one another due to the FACT they are all gold related.

Whether or not the correlations are exact will likely never be. x cept for what GLD tries to do with the fractional equivalent ie;
one share reflects= One TENTH an ozt of GOLD.

Please keep us updated on what you are watching and any thoughts you might have on spot.

We should look at GLD vs SPOT later in the week.!

Welcome aboard buddy!

X


Quoting split_unit
Well, GDX bounced at that trendline, again... it has bounced so many times that I lost count. Anyway, this bounce triggered one of my setups on one of the major gold companies Barrick Gold. Its ticker is ABX I am looking for a short term position in it with the following:


(a one cent move in the equities market on 100 shares is equivalent to 1 pip on a mini lot which is $1).

P.S. Sorry if the charts not clear, it can easily be accessed here.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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