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

  • #19,241
  • Jun 14, 2012 8:36am Jun 14, 2012 8:36am
Sudden drop on no news (that I'm aware of) -- any insights?
You can always make money tomorrow provided you don't lose it today.
  • #19,242
  • Jun 14, 2012 8:38am Jun 14, 2012 8:38am
Gold went down fast from 1624 to 1609... what do you think guys?
  • #19,243
  • Jun 14, 2012 8:39am Jun 14, 2012 8:39am
Well I planned that right on the money, Lets see it my motives remain intact. I hoped someone followed parts of what I was trying to exsplain!!!

Quoting Crgone12
From were I stand I still have been completly on target. 1629 area or just a little below is what I'm targeting for the stop out of this bullish run. Dont's take my word on it wait for it. Like I've said before, it's still in the early to mid DEC of 2011 senaerio and it's played exsactly like such so far. Maybe after I will get creed in here
  • #19,244
  • Jun 14, 2012 8:44am Jun 14, 2012 8:44am
Gold seems to be testing broken support on the way up during this dip.

I am targeting a break of 1636 to come perhaps reaching 1640.

May not be today.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,245
  • Jun 14, 2012 8:47am Jun 14, 2012 8:47am
That move should have been up on poor US jobs.

Sometimes the market moves erratically and does not make sense.

Poor jobs should boost gold. Thus I think this dip is faulty and will fill itself perhaps breaking the high for today as of an hour or so of trading.

Quoting rencetan
Gold went down fast from 1624 to 1609... what do you think guys?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,246
  • Jun 14, 2012 8:47am Jun 14, 2012 8:47am
Who would think it is so simple ? Look left, that's all there is to it. Stop mindfucking or throwing coins.
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Hello.
  • #19,247
  • Jun 14, 2012 8:48am Jun 14, 2012 8:48am
HI is creating a pinbar. I bought. the hour is almost up
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,248
  • Jun 14, 2012 8:50am Jun 14, 2012 8:50am
On the daily one could say there is resistance at 1626 and perhaps there were resting sells there from bears.

Yet when looking at H1 / H4 the resistance to beat is clearly 1636 and the price has been rising since the dip into the 1500s.

Thus again I believe it to be faulty or just a little headfake and test of support.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,249
  • Jun 14, 2012 8:51am Jun 14, 2012 8:51am
Where is the other supply on your chart?

Quoting emene
Who would think it is so simple ? Look left, that's all there is to it. Stop mindfucking or throwing coins.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,250
  • Jun 14, 2012 8:54am Jun 14, 2012 8:54am
This pair is killing me slowly...aaarghh !!!

The BUY order hit SL and pending SELL is activated which does not sound to be very willing to go to deeper levels...well...lets see wat will happen :@

God bless me !!!
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Imagination rules the world ...
Selym Hyll Return This Year: na
  • #19,251
  • Jun 14, 2012 8:57am Jun 14, 2012 8:57am
Thank you for the question. The supply is the grey area as I guess you figured. Just draw it further left and you will find the source of a pole, from where price jumped down last time and where sell orders were waiting to be triggered. Voila.

Quoting XTrade
Where is the other supply on your chart?
Hello.
  • #19,252
  • Jun 14, 2012 8:58am Jun 14, 2012 8:58am
AUD looks ready for another attempt at parity regain.....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,253
  • Jun 14, 2012 9:02am Jun 14, 2012 9:02am
I get that. My point or rather observation is you are only showing one move in the area you are calling supply.

Thus, in my eyes there should be at LEAST one prior representation of the area as supply before using a swing in hourly trading.


Now, to agree with you I did mention that one might say there was some resistance/ supply on the DAILY - at the area of 1626 which you seem to have referenced as SUPPLY.

However your chart does not show the prior dip.
As the daily does.

Thus, I said what I did. If a pair or gold hits an arbitrary area it cannot be considered immediately supply.

get what I mean?

So I agree yet am trying to point out what you are missing.

Quoting emene
Thank you for the question. The supply is the grey area as I guess you figured. Just draw it further left and you will find the source of a pole, from where price jumped down last time and where sell orders were waiting to be triggered. Voila.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,254
  • Jun 14, 2012 9:03am Jun 14, 2012 9:03am
Bought AUD and Kiwi
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,255
  • Jun 14, 2012 9:05am Jun 14, 2012 9:05am
Quoting XTrade
On the daily one could say there is resistance at 1626 and perhaps there were resting sells there from bears. Thus again I believe it to be faulty or just a little headfake and test of support.
I am being careful here, I bought as well at 1615 just now but I did catch the downmove from 1626.02 to 1613.44. My H1 indicators are turning bearish so I am expecting a move back up to test resistance around 1623 and then down to 1600 or slightly lower before moving up past 1635 sometime next week.
  • #19,256
  • Jun 14, 2012 9:09am Jun 14, 2012 9:09am
Not to mention there is a rising TL on the hourly chart which was just tested to a tee by the dip.

NEW HOURLY BAR FORMED ABOVE --- LOOKS PRIMED TO RISE>

Guys, A TEN dollar swing in gold iS NORMAL.

Unless you are scalping 5 minis to a standard lot and don't have a thick skin, patience or at least a little Iron in your stomach you need patience.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,257
  • Jun 14, 2012 9:10am Jun 14, 2012 9:10am
Quoting XTrade
Bought AUD and Kiwi
Likewise @ .99729, setting tp or flying free?
  • #19,258
  • Jun 14, 2012 9:12am Jun 14, 2012 9:12am
I don't use many indicators. I prefer charting / technical analysis - price action - and news.

Thus,

Agree a test back up to 1626 yet in the same session depending on how wild we get today, I don't see a fall to 1600.

perhaps a midpoint between the high and low for close at 5pm if things stay tight.

IMO.

Quoting Sreym33
I am being careful here, I bought as well at 1615 just now but I did catch the downmove from 1626.02 to 1613.44. My H1 indicators are turning bearish so I am expecting a move back up to test resistance around 1623 and then down to 1600 or slightly lower before moving up past 1635 sometime next week.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,259
  • Jun 14, 2012 9:12am Jun 14, 2012 9:12am
I haven't missed anything big guy, get down of your horse... I am not the one who got it wrong in the first place.

It is not what I call supply, it is supply, period.

How can one be wrong and patronizing at the same time? This place will never end surprising me...

Quoting XTrade
I get that. My point or rather observation is you are only showing one move in the area you are calling supply.

Thus, in my eyes there should be at LEAST one prior representation of the area as supply before using a swing in hourly trading.


Now, to agree with you I did mention that one might say there was some resistance/ supply on the DAILY - at the area of 1626 which you seem to have referenced as SUPPLY.

However your chart does not show the prior dip.
As the daily does.

Thus, I said what I did. If a pair or gold hits an arbitrary area...
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Click to Enlarge Name: gold.jpg Size: 87 KB
Hello.
  • #19,260
  • Jun 14, 2012 9:15am Jun 14, 2012 9:15am
Yes, I will throw a TP in - I have calculated the RR for the trade already,

I am screen watching and using an MT4 account to trade at current. Thus I am not adding a stop due to the irrational price spikes that happen and knock out stops sometimes.


What I am looking at - potential test of parity OR BREAK -- We may be due after the prior tests.

Potential stop

Below 99.15

entry 99.58

Quoting w0lv3n
Likewise @ .99729, setting tp or flying free?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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