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

  • #18,221
  • Apr 4, 2012 8:11am Apr 4, 2012 8:11am
This is H4
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  • #18,222
  • Apr 4, 2012 8:17am Apr 4, 2012 8:17am
On H4 the fibo extension of 161.8 is exactly at 1600....as well as the bottom of the andrews pitch fork....we will likely hit 1600....before it turns around.
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Life's a bitch....so be a dog and cover it!
  • #18,223
  • Apr 4, 2012 10:55am Apr 4, 2012 10:55am
Quoting split_unit
GDX looks like its going to breakdown soon and its going to be vicious. I have 8 stocks in my gameplan today, two of them are gold miners (ABX & CDE).

It took its time but never the less broke down after opening below that key trendline.
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  • #18,224
  • Apr 4, 2012 11:03am Apr 4, 2012 11:03am
Quoting forexfacts
Give this guy another chance X Man
after his post gold hit his SL and then it came down
so no chance
X clearly mentioned in first post no signal service.
back your positions with proper charts/analysis
  • #18,225
  • Apr 4, 2012 11:28am Apr 4, 2012 11:28am
Gold potential in range !?
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Trade As A Sniper
  • #18,226
  • Apr 4, 2012 11:35am Apr 4, 2012 11:35am
Quoting pama.fx
Gold potential in range !?
lol gold is already in that range u drew
  • #18,227
  • Apr 4, 2012 11:36am Apr 4, 2012 11:36am
Quoting jaimini
after his post gold hit his SL and then it came down
so no chance
X clearly mentioned in first post no signal service.
back your positions with proper charts/analysis

I can see that your eyes have gone wider now
  • #18,228
  • Apr 4, 2012 3:30pm Apr 4, 2012 3:30pm
.............
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  • #18,229
  • Apr 4, 2012 8:40pm Apr 4, 2012 8:40pm
Quoting forexfacts
Give this guy another chance X Man
Who is "this guy"?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,230
  • Apr 4, 2012 8:56pm Apr 4, 2012 8:56pm
While the FOMC shook most majors u or down for app 150 + pips, Gold only dropped about 40 on the day with spillover into the next printing a low @ 1611 area. We are now around 1621 with a new daily bar formed.

"might" be a good long entry for some retracement up. I'd look for 1638 and then if still bullish 1655+.

South she may look to support at 1560 thru 1570 area which should be quite strong. Draw a line around 1565 on the weekly and you will see why.

I couldn't trade the FOMC and got caught a bit too late closing some of my FX trades into the drop... Ph well, should have don it at noon or the night before.

I am hesistant toput much stock behind these moves yet, as the next words out of Bernanke's mouth could easily tank the markets, then there's the EU, Iran situation, China, a lot to think about when trading FX and GOLD and silver

--

Speaking of which silver is now at 31.34 support and basically the range bottom on H4.
Definitely looking oversold.

--- I also have a line of support on the Gold chart drawn at where the price is right now.Let's see how tonight goes.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,231
  • Apr 4, 2012 9:01pm Apr 4, 2012 9:01pm
Also at an approximate time adjusted rate, of 1585/90 the price will finally test or re-test the broken symmetrical triangle on the weekly.

This was from the upward weekly channel which we are still in
(currently just below channel bottom line and the "dip line" or the reaction low line, or whatever you want to call it.

This area should be of extreme interest at least on a technical basis.
I will post a chart, just a bit busy at the moment.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,232
  • Edited 9:42pm Apr 4, 2012 9:40pm | Edited 9:42pm
I won't trade anymore this week.

I missed my entry at 1612, in FXCM's low (ask) was 1612,65. I drew this orange channel using recent highs and low. Price kissed the low of the channel and retraced without filling me.

I deleted that order thinking this was the low for this week.

But price is not going north with the speed I was expecting after there was RSI divergence in m30, which is usually very reliable.

I think there are some steps in the way up, 1628, previous low, and 1641-43 test of trendline from Dec 29 (1522)to March 23(1628).

In fact I'm amazed that price is still fighting with that line from the triangle that was broken more than 10 days ago.

As I said before. I'll just let it do whatever it wants to do.

And I'll see next week what happened.

This is H1
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  • #18,233
  • Apr 4, 2012 9:57pm Apr 4, 2012 9:57pm
X, I think that triangle won't be tested unless price drops very hard. This week price must come to 1530 and next week 1516 or so to test it.

Well, truth is that I thing it's possible.

Weekly candles have been showing rejection, implying bullishness, but then price manages to print new lows.
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  • #18,234
  • Apr 4, 2012 10:26pm Apr 4, 2012 10:26pm
can you always make it open to us?
http://i41.tinypic.com/qq3284.jpg
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  • #18,235
  • Apr 4, 2012 10:36pm Apr 4, 2012 10:36pm
Quoting cnnewt61
can you always make it open to us?
http://i41.tinypic.com/qq3284.jpg
Hi cnnewt61,

I assume you are new to here. If you have read the past posts, Mr. XTrade want it to make it available here, however, there is problem with the broker.

Please be patient.


breeze
  • #18,236
  • Apr 4, 2012 11:24pm Apr 4, 2012 11:24pm
Quoting XTrade
Who is "this guy"?
The one whose reply i quoted, he gave us 1632, when others were laughing, i found it possible.
  • #18,237
  • Apr 4, 2012 11:53pm Apr 4, 2012 11:53pm
Quoting lilpip
2nd quarter and single year trendguide or pivot area is 34.20-50 so bias is down from there, once above then will get moving.
filtering it a little closer looking at the weekly.
weekly
34.22
32.58
30.94
support shown wed. with bounce up from weekly lows area 30.94, however ith our breakout of wed. daily lows @ 31.68 the question of the day is will 30.94 hold ?
eyes open on the 5 min for pa and candle formations retest of wed. daily breakout area 31.68.
thur. daily
33.00
31.68-88
30.74
  • #18,238
  • Edited 12:36am Apr 5, 2012 12:16am | Edited 12:36am
Quoting lilpip
eye on the primary and secondary trend, the new quarterly cycle and the battle at hand.
single year trendguide or pivot 1600 holding.
As we move forward onto the 2nd quarter the trendguide is 1688-89.
mind your mm as to the direction she moves from this 1671-89 area.
Heads up to pa and candle formations around the 1671-76 area especially .
weekly
1715
1671
1627
along with breakout of wed. daily lows 1634 we also have a break of weekly lows 1627.
question of the day is will the single year primary trend guide 1600 hold ?
eyes open for retest of 1627 weekly break or maybe even extending that out between 1627-1634 area for wed breakout retest.
  • #18,239
  • Apr 5, 2012 1:28am Apr 5, 2012 1:28am
Quoting cnnewt61
can you always make it open to us?
http://i41.tinypic.com/qq3284.jpg
I think x XTRADE burn a lot of demo acc

man it is silly to do that again and again (talking about acc xtrade)
buy gold and believe that gold will reach 2000 level

and the strategy is with huge sl and not very long tp...

he should change something...
  • #18,240
  • Apr 5, 2012 1:44am Apr 5, 2012 1:44am
Quoting Doncex
I think x XTRADE burn a lot of demo acc

man it is silly to do that again and again (talking about acc xtrade)
buy gold and believe that gold will reach 2000 level

and the strategy is with huge sl and not very long tp...

he should change something...
And who are you to come here to his thread and tell him what to do? The man is free to trade what he wants and how he wants. He has his strategies and has his conviction. He is brave enough to share them here, which is something that everyone is grateful for. I don't follow his methods but I respect them.

Rather than mock others on something you don't understand, go find yourself something useful to do with your excess time. Hell, if your such a hot shot why don't you open your own thread and put yourself on the line day in and day out?
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