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

  • #20,661
  • Aug 29, 2012 7:39pm Aug 29, 2012 7:39pm
You are at the midline of your fork/channel, I would strongly suggest waiting for some sort of confirmation.

Today we corrected a bit, tomorrow, we could be taking 1680.

Just saying.

Quoting Peet91
I am waiting this 30 min candle to close below 1660 and I will go short and my target is 1650
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,662
  • Aug 29, 2012 7:39pm Aug 29, 2012 7:39pm
Reasoning please for 200 USD Gold Drop.??

Thanks.
Quoting goshko147
Maybe we have fake.. i think , gold is go to $1400.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,663
  • Aug 29, 2012 8:46pm Aug 29, 2012 8:46pm
http://www.kitco.com/KitcoNewsVideo/...8-29peterhug_1


I think this is a nice video to share with you .
  • #20,664
  • Edited 10:09pm Aug 29, 2012 8:50pm | Edited 10:09pm
Powerful Area...Notice in small close up. To me this looks bullish...

Gold Weekly

- Channel and SMAs
- Gold Weekly channel SMAs and USDX overlay
- Gold Closup weekly of triangle


- Notice USDX hitting some minor support on way down
- Notice the RAW POWER of the GOLD 100 WEEK SMA
- NOTICE USDX Double TOP over time @ 88.5 and now it even seems funny that the spot price of Gold is acting as resistance.

Notice we are on the verge of a potential breakout.

Technically - using wicks and cutting them the down trend line has been broken.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Picture 15.jpg Size: 195 KB
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,665
  • Aug 29, 2012 9:06pm Aug 29, 2012 9:06pm
NOTICE - WE ARE NOW 100 USD NORTH of major support @ 1550
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,666
  • Aug 29, 2012 9:21pm Aug 29, 2012 9:21pm
Think it basically has tested it already in the shape of 1652 something.

Not sure about 1640, looking north especially after review of charts.

A break is a break small or large, we are testing an important line that was broken (DTL) should the test prove to stick it is 1700 next.

1640, should she not stick, well a ten / 15 USD swing south would not be out of the question.

Quoting Peet91
I think gold will test 1650 level
all the data is +Ve with the $$$
may bernanke do it again and just wait , so I think our next step is 1650 then 1640
what do you think about that ?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,667
  • Aug 29, 2012 9:34pm Aug 29, 2012 9:34pm
Quoting XTrade
Think it basically has tested it already in the shape of 1652 something.

Not sure about 1640, looking north especially after review of charts.

A break is a break small or large, we are testing an important line that was broken (DTL) should the test prove to stick it is 1700 next.

1640, should she not stick, well a ten / 15 USD swing south would not be out of the question.
I think 1700 is hard to reach especially with a lot of talk about a usa growth and the fed , the rumor about the bernanke that he's just wait like every time , and market will wait the ECB to react ,
so what do you see if the price are not going up to 1700 ??
  • #20,668
  • Aug 29, 2012 9:36pm Aug 29, 2012 9:36pm
I Have no idea about the crude oil relation with gold , it seems that they have the same way to go , correct me if I am wrong .
  • #20,669
  • Aug 29, 2012 10:08pm Aug 29, 2012 10:08pm
More range until after the election when they finally drop the news of more QE.

Quoting Peet91
I think 1700 is hard to reach especially with a lot of talk about a usa growth and the fed , the rumor about the bernanke that he's just wait like every time , and market will wait the ECB to react ,
so what do you see if the price are not going up to 1700 ??
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,670
  • Aug 29, 2012 10:58pm Aug 29, 2012 10:58pm
Quoting XTrade
More range until after the election when they finally drop the news of more QE.
what do you think


looking at xauusd and its starting to look interesting.
could range from 1633-1658
at least if its dropping 1647 and maybe a bounce
a close below weekly pivot 1652 will get 1647
very interesting .... Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1346298892
Wooooohooooo or Boooooohooooo
  • #20,671
  • Aug 29, 2012 11:39pm Aug 29, 2012 11:39pm
Quoting Paras4you
This report is 3 days old bro...price have moved a lot since then...
Did you read just the date? Maund makes such forecasts once a month.
  • #20,672
  • Aug 30, 2012 1:11am Aug 30, 2012 1:11am
Here is Gold spot with WTI Light Crude overlay
Quoting Peet91
I Have no idea about the crude oil relation with gold , it seems that they have the same way to go , correct me if I am wrong .
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 17.png Size: 65 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,673
  • Aug 30, 2012 1:23am Aug 30, 2012 1:23am
Quoting XTrade
Here is Gold spot with WTI Light Crude overlay
thanks X trade
  • #20,674
  • Aug 30, 2012 1:58am Aug 30, 2012 1:58am
Very thin market - gonna be quiet until we get some news (or not) out of JH and desks get manned again in Sept....

Following on from previous posts I wanted to show how I try to find working forks.

Here's GC 20. Am looking to see if the new blue fork works. So far I have no sp confirmation and one early touch albeit exact on the LP. Will be watching to see what happens on next approach or if there appears to be any action along the lines of the fork that I can tie in to previous action. I certainly would not take a long on next LP touch unless there was a first bar with a significant reaction - in which case I might look at a following bar with a v tight stop. It's only a 20 min chart in a thin market..

Remember that I am not "wedded" to this and on a breach will scrub it and start again.....

beeb
Attached Image (click to enlarge)
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  • #20,675
  • Aug 30, 2012 5:55am Aug 30, 2012 5:55am
haha i found this picture at facebook "Anonymous" fan page
Attached Image (click to enlarge)
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  • #20,676
  • Aug 30, 2012 6:29am Aug 30, 2012 6:29am
Quoting llrickkll
haha i found this picture at facebook "Anonymous" fan page
Can you take this political crap elsewhere please...

beeb
  • #20,677
  • Aug 30, 2012 6:49am Aug 30, 2012 6:49am
Agreed. no good for discussion, will only cause arguments. This is a worldwide forum.

Quoting beeb
Can you take this political crap elsewhere please...

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,678
  • Aug 30, 2012 7:42am Aug 30, 2012 7:42am
Hey Beeb

How do we make this pitch fork? I am using GCI MT4 demo version for analysis but i dont have an indicator called pitch fork. Can you help me plz.

Quoting beeb
Very thin market - gonna be quiet until we get some news (or not) out of JH and desks get manned again in Sept....

Following on from previous posts I wanted to show how I try to find working forks.

Here's GC 20. Am looking to see if the new blue fork works. So far I have no sp confirmation and one early touch albeit exact on the LP. Will be watching to see what happens on next approach or if there appears to be any action along the lines of the fork that I can tie in to previous action. I certainly would not take a long on next LP touch unless...
  • #20,679
  • Aug 30, 2012 7:42am Aug 30, 2012 7:42am
Following on from #20798 - not exactly pip perfect support from the blue LP but still worth watching as there is a definite "area of rejection" there....

http://screencast.com/t/dlF7K9ZU4za

beeb

EDIT - note that support seems to be developing along the quartile of the 240min GC shown a few days back
  • #20,680
  • Aug 30, 2012 9:58am Aug 30, 2012 9:58am
It may be called andrew's pitchfork and it is not an indicator it is like a channel. Except needs proper alignment and pull.

It would be up there where the fibo tool is.

I think, not sure haven't opened mt4 in over a week.

Quoting Paras4you
Hey Beeb

How do we make this pitch fork? I am using GCI MT4 demo version for analysis but i dont have an indicator called pitch fork. Can you help me plz.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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