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

  • #18,701
  • May 7, 2012 10:10pm May 7, 2012 10:10pm
Quoting Sebastien972
http://i45.tinypic.com/2q8o8px.jpg
nice picture.
  • #18,702
  • Edited 10:30pm May 7, 2012 10:16pm | Edited 10:30pm
Quoting gotri
It's interesting candle in monthly chart.

time to LONG??

Comment please...

http://www.iconindo.com/foto/xaumonthly.jpg
last couple weeks she's been bouncing up and down from 1650-57 area, as time moves forward she is now bouncing off 1646-49 area this week.
When we start trading above 1650 we still have to see what 1685-89 area has to say.
  • #18,703
  • May 8, 2012 3:11am May 8, 2012 3:11am
Attached Image (click to enlarge)
Click to Enlarge Name: fork.jpg Size: 147 KB


hey guys, added a picture a week ago, still holding in the channel on the hourly chart.

currently around +800pips for me, hopefully ride all the way past $1625.
  • #18,704
  • Edited 7:07am May 8, 2012 5:31am | Edited 7:07am
I closed my last xau/usd trade because I have no bias now.

She is not dancing with USDOLLAR and EUR/USD. She has a taste of her own, and seems to be hesitating.

She is about to test TL from last low @ Dec 2011.

It seems it is time to go up, but maybe she thinks something else.

H4 and Weekly.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: xau-w-20120508.png Size: 66 KB
  • #18,705
  • May 8, 2012 7:34am May 8, 2012 7:34am
gold is testing early April lowest point. wondering whether will it break through? maybe it should depend on bernanke speech.
  • #18,706
  • May 8, 2012 7:48am May 8, 2012 7:48am
Just broke a triangle.

And I wasn't paying attention.

H4
Attached Image (click to enlarge)
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  • #18,707
  • May 8, 2012 8:04am May 8, 2012 8:04am
Hey guys is this why gold dropped?


Greek Left Coalition Leaders Says Bailout Accord "Null And Void", Demands Greek Debt Moratorium
Submitted by Tyler Durden on 05/08/2012 08:26 -0400

Greece


Hardly a surprise to anyone, but here it is black on white - Greece officially makes the odds for a Euro departure well over 50%:

TSIPRAS SAYS GREEK RESULTS MAKES BAILOUT ACCORD NULL AND VOID
TSIPRAS SAYS GREEKS HAVE VOTED AGAINST BARBARIC BAILOUT
TSIPRAS SAYS WON'T JOIN A GOVT OF NATIONAL SALVATION FOR LOAN
TSIPRAS SAYS GREEKS HAVE ENDED PLANS FOR ADDITIONAL AUSTERITY
TSIPRAS SAYS TO REDISTRIBUTE TAX BURDEN, DEVELOP GROWTH PLANS
TSIPRAS SAYS WILL STICK TO PRE-ELECTION PLEDGES
TSIPRAS ASKS VENIZELOS, SAMARAS TO RENEGE PLEDGES IN WRITING
And here it comes

GREECE'S TSIPRAS SAYS WANTS INTERNATIONAL COMMISSION TO INVESTIGATE IF GREECE'S DEBT IS LEGAL
TSIPRAS SAYS MUST BE MORATORIUM ON GREEK DEBT PAYMENTS
  • #18,708
  • May 8, 2012 8:25am May 8, 2012 8:25am
I see SHS patern on H4 and sell at 1628!
Target:1590:partying_face:
http://i48.tinypic.com/wi8q5l.png
  • #18,709
  • May 8, 2012 8:29am May 8, 2012 8:29am
Quoting lovepips
the next few days are going to be very interesting and although I'm not in the business of fortune telling, I think it is fair to say that should hollande win the french election then we will have a downside move to the euro and quite possibly gold.

I don't expect any bear gold movements to be lasting. However as we all know, movements can be very sharp and in a very short time-frame.

1630 held today and if it breaks on Monday I could see prices fall to 1600....

I could of course be completely wrong :-)




safe trading guys


LP
when I wrote the above I had forgotten about the bank holiday yesterday.... so far today we've reached a low in the 1608 range - the next few hours should be very interesting :-)

trade well,

LP
patience is a virtue
  • #18,710
  • May 8, 2012 9:13am May 8, 2012 9:13am
Hello Everyone
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  • #18,711
  • May 8, 2012 9:14am May 8, 2012 9:14am
Quoting vladimir.kuc
Current price - 1611 !

Target met...now what? Up or down further?
  • #18,712
  • May 8, 2012 9:33am May 8, 2012 9:33am
Quoting lovepips
1630 held today and if it breaks on Monday I could see prices fall to 1600.... LP

1600 target reached :-)

looking at the volumes and candlesticks, this could be a nice entry level for a long.

I'm keeping an eye on usdcad, if the dollar retreats should be good for the long gold position - if it continues north we could see further weakness in gold.....

here's my 2 charts:
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdcad5min8thmay.gif Size: 23 KB
patience is a virtue
  • #18,713
  • May 8, 2012 9:51am May 8, 2012 9:51am
XAU has been knocking around in range for 2 months. Now that its broken out it could extend further before consolidating.
I have no enemy; I make Incautiousness my Enemy.
  • #18,714
  • Edited 10:33am May 8, 2012 10:21am | Edited 10:33am
2012 open XAU price was 1565.75.

Day range so far $49. Entered long 1597.5.

Also overshot lower BB by $20 which is quite reliable as a bounce. Based on daily Fib I am looking for a target of somewhere in the zone of 38.2% and 50% = 1611.2 to 1616.4.
I have no enemy; I make Incautiousness my Enemy.
  • #18,715
  • Edited 11:01am May 8, 2012 11:00am | Edited 11:01am
Quoting jimobiwan
2012 open XAU price was 1565.75.

Day range so far $49. Entered long 1597.5.

Also overshot lower BB by $20 which is quite reliable as a bounce. Based on daily Fib I am looking for a target of somewhere in the zone of 38.2% and 50% = 1611.2 to 1616.4.
My analysis says that there could be more downside for GOLD.
We could see there has been a long time (May 2011 ) support (resistance at times) at 1579, and XAU seems to be heading for that
The same level has been tested a numerous times, viz :

 

  1. Jul 2011
  2. Sep 2011
  3. Dec 2011
  4. and now

Its Fibs are also playing well.


Attached here the chart for your reference

Also RSI is only 32... we are yet to enter oversold area

Attached Image(s) (click to enlarge)
Click to Enlarge Name: xau from nov 2011.JPG Size: 174 KB
Click to Enlarge Name: xau from May 2011.JPG Size: 187 KB
  • #18,716
  • May 8, 2012 7:03pm May 8, 2012 7:03pm
Price closed below daily and weekly trendlines from Oct/08.

It can act as resistance.

There was no V reversal this time, so 1580 is not a crazy idea.

Right now the resistance is the middle of the channel and a parallel line is support for fifth time.
Attached Image(s) (click to enlarge)
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  • #18,717
  • May 8, 2012 9:06pm May 8, 2012 9:06pm
Hoping German and French trade balances will be beat forecasts soon.
  • #18,718
  • Edited 10:08pm May 8, 2012 9:34pm | Edited 10:08pm
Quoting lilpip
For those that consider timeframes in 3's we have taken 2 months to the south with Mar. and April and now at May lows at 29.00-05, if theres a change of trend this is an area to be considered for support.
may monthly
36.57
32.81
29.00-05
Golds fri. retest of thur. daily break @ 1642 is noted.
eyes open to pa between 1645-49 pivot area this week as we continue the 1st quarter battle for direction between the primary and secondary trends 1600 and 1689.
weeky
1670
1645-49
1621
Not only daily also the weekly lows breakout noted @ 1621 which normal pattern is to continue however will confirm with 1621 retest wed.
The stronger single year primary trend pivot and major support 1600 holds as tue. daily closed above
silver
Monthly lows support for silver reached and holds at the 29.00-05 area.
Both are lined up at significant levels for rotation back up, however we break to the south from 1600 that puts gold with the bears along with silver as she has been there since 34.50 area for 2012.
  • #18,719
  • May 8, 2012 9:40pm May 8, 2012 9:40pm
Quoting lilpip
Not only daily also the weekly lows breakout noted @ 1621 which normal pattern is to continue however will confirm with 1621 retest wed.
The stronger single year primary trend pivot and major support 1600 holds as tue. daily closed above
lilpip, I'm curious.

I'd like to see your daily, weekly and monthly charts with your indis and S&R levels.

Sorry for that. It's just that I like your posts and I'd like to see what your eyes see after you setup your charts.

  • #18,720
  • May 8, 2012 9:49pm May 8, 2012 9:49pm
Quoting jsr
Hi Vladimir.

Can you explain us the logic behind your system?

We all like to learn, and I like to hear different points of view. I think it is good to know how different traders see the market and why.

Thanks in advance.
I have seen his spectral system charts on other forums and he has been calling $1450 since $1750. Now i see his profile here says JPM research(the silver monster shorter). Whatever indicator he has on that thing does show support levels at that area. Maybe I'll look up spectral systems. If JPM employees got this thing it's likely quite good. $1450 would take what 6 months minimum to recover from? This is more bad news for my longs.

Also didn't you have a Blythe here as in Blythe Masters from JPM. Odd.
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