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

Does anyone see a possible double top forming on the XAU/USD daily? Looks like bears are in charge of 200 ema line (Red). I trade on shorter time frames but use the daily chart to look for momentum and market sentiment. Two possible targets for the bears would be 1580ish (dotted green line) and 1566ish (dotted red line) Wednesday & Thursday fundamentals maybe the game changers though.

The daily chart referred in my post above.

Tsotsi

Another possibility is that you have an ascending triangle with horizontal highs and rising lows.....

beeb

Yes, I agree. Nice observation, thanks for that, beeb.

Guys this market is likely not to start breaking until September...

A lot of people are on vacation as well.


Now let's see the chart for RIGHT NOW.

Got sick of trading aussie for a bit and switched back to my first love cable.

Already performing and gold is getting a boost -- Euro popping too.

Nice lil trendline north we can add to the bottom of this H! chart... Let's see it produce.

No real resistance in sight besides 1625

Range broken, PA following H! daytrade TL.

Peaks and valleys resistance broken.

Better cable chart.

H4 Price at stronger resistance looking for topside break!

most say this pair is not for the faint of heart, just like GOLD..... It's a rollercoaster!

Cable is gonna blast this resistance, Let's see where Gold is.
minor trouble with minor resistance....


NEEEEEEED to take out 1625

Is everyone afraid to post? WTF?

SPEAK UP - ask questions, no question is stupid.

GOLD is king and MONEY and will forever be,

Remember that.

XT

Nice . above 1610... Stepping stones... I wouldn't be surprised to see a smackdown tomorrow LDN X NYC.

YES manipulation of markets can work both ways,
HERE is a classic TERM - "PUMP AND DUMP" mostly used in stocks, yet still viable here,

GOLD can be pumped UP for the day, buy the big boys who want to park AND MAKE money, then easily SOLD a day later TO transfer and MAKE MONEY.

SO YES> it goes both ways just like a bisexual.

Chart live. Subject to change on lookback price at post 1616

http://www.kitco.com/images/live/gold.gif

In the chart above 3 days are shown in line form.

What I want people to start paying attention to is not THE FRONT
not the END

BUT THE MIDDLE, where the area is actually GRAY slightly.

THIS is the LDN X NYC session.

This is also where the price is fixed twice a day in LDN,

This is also where major swings happen.

This is also where you can make or lose money.

This is also where manipulation of the market exists.

Anyone, friend or foe that does not believe in manipulation while I am clearly admitting in my latter post it works both ways, is not seeing the light.

The main reason gold is slow is because this is the slow season.
PERIOD.

People are on vacation, we have an Indian Buying season coming up, we also have returning "INVESTORS" Come school time in the USA. which is also in september.

Now. That being said, keep an eye on the middle.

The two main resistances we NEED TO TAKE are

1625 SUSTAINED TESTED AND BREACHED
next 1635 TOUGHER resistance.....................

NOT TO MENTION

300 off an all time high for a commodity is not too shabby,

Look at PLATINUM, High mmmm 2200? maybe

Look at NAT GAS. LOL.............................

Black gold is fun though.

BEMAC WHERE ARE YOU????

On the perifiry with no valid opinion atm. Hoping to change that in the next week or so...
Been out for some months now. Abs. No Trades. Not Market Related.

B
ps. Like the new Avatar 'X'

Why Halo there Mate! So nice to hear from ya and thanx for the compliment AND response.

Your words are of value.

Here is a lil chart I'm looking at right now. This damn market is so thin..

WEEKLY CHART with SIMPLE TL

Added below
200 week SMA

LOOK AT THE UNISON. THAT IS NOT EASY TO BREAK. IDK WHAT ANY BEAR SAYS.

Show me. Or hold your peace. BTW I am allowing you a 300- from 1600 area to move. so try. see what happens. I guarantee it won't work out well long term.

Let me get one thing straight. Until I see a SIGNIFICANT BREAK of not only the WEEKLY channel from 2008 and the 100 WEEK SMA, as well as supporting fundamentals, multiple rejections back a top, I will remain a BULLISH GOLD TRADER, WHY>????
Because that's what I do best, identify best, and profit best from.

When the bears can present more than a simple market "wave" or correction after GOLD sets yet another record high as well as provide me with VALID reasons WHY my MONEY should NOT be in GOLD and BE in the USD or T-BILLs and you break my set supports. THEN maybe I will change my bias.

YET as we STILL REMAIN only 280+ from the all time high of the YELLOW METAL,
I will hold my position.

Keep in mind when this thread was started we were flirting with 1080/1100
Thus, had you sat on your a$$$ AND DONE NOTHING YOU COULD HAVE TAKEN AN ALMOST 900 USD PER OZT PROFIT OR JUST SIT ON A 600 USD PER OZT PROFIT NOW. JUST FOR HOLDING.

What has the USD done for me?

BUY PHYSICAL.
TRADE
PROFIT.

MY 2 Gold cents are in for tonight.

XT