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

Looks like golds going for a jump........ We c.
Xt
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
to me, both silver and gold are forming a bull flag, not sure tho. if it fails then its a nice place to short.
Quoting ethanzz
to me, both silver and gold are forming a bull flag, not sure tho. if it fails then its a nice place to short.
What timeframe are you looking at? It kinda matters.....

Thanks

beeb
Hey guys, how about gold price now?
It looks like I've been pretty spot on plus or minus 5 to ten dollars so far. Now I'm back to my targets for the way down. Look at the euro vs us dollar!
Quoting Vievy wu
Hey guys, how about gold price now?
Are you asking to Long or Short?
Quoting multi888
Are you asking to Long or Short?
Both
Quoting Vievy wu
Both

ffs............

beeb
Quoting Vievy wu
Hey guys, how about gold price now?
1597 - 1607. I think you need to be more specific with your question.
Education has its reward, ignorance has its price.
I think they should decide for themselves or put their funds to work in some other investment where they can decide for themselves.
IMO today's fundis and PA clearly suggesting that price is accepting current levels as base and we'll see clear bullish break at least to 1630-40 area and further 70-80
in this week euro down by 2.17% and so far gold is up by 0.63%
USDX up by 1.41%
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People, it's just white noise at the moment in front of NFP - We could get a move after that, no doubt with the usual feint the other way first......

Look at the GC Daily forks I posted on 1st July in # 19780. Nothing has changed - price is still in the wedge formed by the blue upfork and the quartile of the red downfork..........

beeb

EDIT - A couple of people have asked exactly what I mean , so here's an update of those forks with the wedge highlighted in green:

http://www.screencast.com/t/MUctLcn9DVj
Looks to me like this is the last we will see of gold at 1600. Im long at 1606, stop loss 1593. Next stop 1700. A 10 to 1 risk reward has a nice ring to it. Hopefully the payroll report tomorrow will shove it through 1650. Good luck.
Quoting Becel
..... Next stop 1700. A 10 to 1 risk reward has a nice ring to it...
Than that would be reward to risk. But in anycase, r/r if used which I personally don't look at, is done before a trade is put on.

Something else to consider is the daily bar from 2/28/12. It made a high of 1790.25 tantalizing close to but not quite the BRN of 1800. Never smart to use them for a target unless you are in a parabolic move. Even then I would think twice.
Quoting beeb
People, it's just white noise at the moment in front of NFP - We could get a move after that, no doubt with the usual feint the other way first......

Look at the GC Daily forks I posted on 1st July in # 19780. Nothing has changed - price is still in the wedge formed by the blue upfork and the quartile of the red downfork..........

beeb

EDIT - A couple of people have asked exactly what I mean , so here's an update of those forks with the wedge highlighted in green:

http://www.screencast.com/t/MUctLcn9DVj
I do agree with you Beeb. Its still within the triangular wedge position. This is speculative position, unless people know what they are doing, otherwise its a suicidal position if one open trade before news release.

Everyone knows how bad shape is the US in. However, fundamentally, nobody know if NFP and unemployment rate gonna be good or bad for the US as those data are manipulated anyway....

Trade safe.

R
GOLD completed bearish Evening Star candle below falling trend line resistance, hinting move lower is ahead. 1600 is initial support


GOLD Break lower exposes 1575.81. Trend line resistance now at 1618.43
Sorry, don't have a chart.

Regards,
rozario173
Quoting rozario173
GOLD completed bearish Evening Star candle below falling trend line resistance, hinting move lower is ahead. 1600 is initial support


GOLD Break lower exposes 1575.81. Trend line resistance now at 1618.43
Sorry, don't have a chart.

Regards,
rozario173

Based on which TF?
Quoting multi888
Based on which TF?
Daily
DAILY CHART

LR (Lower Resistance) 1624 indicating further down move based on RSI turning downside.

I prefer to stay short today. Good day!
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TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
Based on the 1H charts on both silver and gold, seems like a bear flag is forming. I know its not good to anticipate, but gold is below 1607. I see bear coming, but not until NY session. The release of unemployment rate should make a decision. Cheers.
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