DislikedWhat time frame is your specific, or desired time frame for success.??Ignored
weekly trend as underlying fundamental, hence my reason for first posting my weekly chart as it has changed to bullish.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #20,742
- Sep 3, 2012 7:25pm Sep 3, 2012 7:25pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #20,747
- Sep 4, 2012 1:48pm Sep 4, 2012 1:48pm
Great start for GOLD in September... 1700 and growing..
We haven't seen this level since March 2012.
XTrade you were right the other day you told me here that gold was going UP in September.
Man, you are like MERLIN the Wizard, lol.
We haven't seen this level since March 2012.
XTrade you were right the other day you told me here that gold was going UP in September.
Man, you are like MERLIN the Wizard, lol.
The Black Swan: The Impact of the Highly Improbable
- #20,748
- Sep 4, 2012 4:10pm Sep 4, 2012 4:10pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
Thanks!
I try,
BTW here's a live print out or painted chart of the day at current price prints appx 1695/
Although it is not exact, the HIGH for the day was 1699 I'd say close enough to 1700 call!
In any case it's usually never the actual Round number hundred increments, that provide true resistance.
They are good for order placement I suppose and they will act as psychological resistances, yet, I'd think depending on tomorrow's news rack which is due for a re-read, 1700 will go tomorrow or this week.
Live below,
Below that screenshot. 3 day gold
http://www.kitco.com/images/live/nygold.gif
perhaps 1720/10 weekly high before things start to really pick up...
Everyone is making sure their coffee machine still works and their chair is still comfy!
I try,
BTW here's a live print out or painted chart of the day at current price prints appx 1695/
Although it is not exact, the HIGH for the day was 1699 I'd say close enough to 1700 call!
In any case it's usually never the actual Round number hundred increments, that provide true resistance.
They are good for order placement I suppose and they will act as psychological resistances, yet, I'd think depending on tomorrow's news rack which is due for a re-read, 1700 will go tomorrow or this week.
Live below,
Below that screenshot. 3 day gold
http://www.kitco.com/images/live/nygold.gif
perhaps 1720/10 weekly high before things start to really pick up...
Everyone is making sure their coffee machine still works and their chair is still comfy!
Great start for GOLD in September... 1700 and growing..
We haven't seen this level since March 2012.
XTrade you were right the other day you told me here that gold was going UP in September.
Man, you are like MERLIN the Wizard, lol.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #20,749
- Sep 4, 2012 6:26pm Sep 4, 2012 6:26pm
- Joined Jul 2012 | Status: CME seat owner | 6,134 Posts
Be hopeful in a winning position, and fearful in a losing position.
- #20,750
- Sep 4, 2012 6:38pm Sep 4, 2012 6:38pm
- Joined Jul 2012 | Status: CME seat owner | 6,134 Posts
Be hopeful in a winning position, and fearful in a losing position.
- #20,751
- Sep 4, 2012 7:06pm Sep 4, 2012 7:06pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #20,752
- Sep 4, 2012 7:10pm Sep 4, 2012 7:10pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
Welcome!
XT
XT
I guess I'll start posting to this thread.
S/R are the black horizontal levels that match up with the aqua and yellow squares. These squares are used to show how often a certain level was important in the past. It's just much easier on the eyes to reference historical supply and demand.
Silver Weekly
Here's what we have now. As you can see $32.26 area bears came out of hibernation as expected. But not for very long as the bull army is just too large. We shall see if $32.26 and the up trend line hold as support.
Silver...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #20,753
- Sep 4, 2012 8:09pm Sep 4, 2012 8:09pm
- Joined Jul 2012 | Status: CME seat owner | 6,134 Posts
Great chart. Wow that was even a great physical play in retrospect.
Although not really retrospect being that I warned at 26 to buy physical,
Now that both these symmetrical triangles are broken, gold and silver, it may be time to do some projections, yet I am a bit reluctant as of yet due to the pretty much false breakout we got on the last GOLD SYM -T.
Now, something to consider is a NON BREACH TEST of the BROKEN DTLs...
On both metals.
Thanks for the complement. It was a good time to buy physical at $26. I got phys @ $26.75 and also on a 3x leverage xagusd long as well.
We did have a false breach last time. But I don't think we will this time. We tested the primary trendline from 2009 and failed many times. Must have tested that thing 20 times and failed.
It is possible but on silver that level is @ roughly $29 / oz (broken DTL retest). I think the weekly and daily momentum is too strong, but if something bad happens in Europe, you never know.
I am short from $32.26 but very tight stop and not looking for much unless the trend line breaks. Here are the levels I'm looking at on the H1
Thanks for the welcome
Don't know how much I will post here but will try to be active as I can.Silver H1
Be hopeful in a winning position, and fearful in a losing position.
- #20,754
- Edited 11:17pm Sep 4, 2012 11:03pm | Edited 11:17pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
OK So here we are on the weekly AU chart with just a few simple ol' lines.
Now, we could say that we are waiting for the chart to retest the breach of the line for certainty and that would be at price point appx 1661, however Judging by the long wick and price range of last weeks bar, we ALREADY, have and as of this post the higher price has been maintained. Likewise so far the DTLs have held as support. Things are starting to cook!!! Get ready to eat!
Still in FX and especially Gold / Silver, one test is not always enough with such an important break as we have here.
Have to see how week pans out, it could easily retrace 20 bucks or so and then get pounced on by longs, with certain stops broken here.
ANYTHING BEARISH that can be "HELD BACK" / "Un-announced" WILL be, until after the election.....IMVO.
Below is the chart....
XT-
PS - some bearish US news, such as confirmed QE 3, poor unemployment, etc, would be fabulous right about know as a price boosting catalyst.
Now, we could say that we are waiting for the chart to retest the breach of the line for certainty and that would be at price point appx 1661, however Judging by the long wick and price range of last weeks bar, we ALREADY, have and as of this post the higher price has been maintained. Likewise so far the DTLs have held as support. Things are starting to cook!!! Get ready to eat!
Still in FX and especially Gold / Silver, one test is not always enough with such an important break as we have here.
Have to see how week pans out, it could easily retrace 20 bucks or so and then get pounced on by longs, with certain stops broken here.
ANYTHING BEARISH that can be "HELD BACK" / "Un-announced" WILL be, until after the election.....IMVO.
Below is the chart....
XT-
PS - some bearish US news, such as confirmed QE 3, poor unemployment, etc, would be fabulous right about know as a price boosting catalyst.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #20,755
- Sep 4, 2012 11:27pm Sep 4, 2012 11:27pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
Because of the "bottom" formed around 1530 - 1550, the target if this triangle is looked at as a pattern remains basically the same over weeks, 2100 -2150 we "may" have added 50 bucks, not sure, Would need to look at old posts and simply re-measure...I believe some money was added to this trade IF it is to complete it's cycle.
Finally.
It just "wasn't there" last time in multiple accords and the summer doldrums took over. We can see where that lead!
Now to obtain the target - ONE NEEDS to
A. Measure the width in dollars (easiest) or pips between the HIGH and the LOW using (USD easiest method) or pips. of the Symmetrical Triangle which I have dubbed "SYM-T".
B Next take that measure / amount, even draw a tl if you want to get really technical, and add it to the POINT OF BREAK of the SYM T - NOT the tip.
C. add the two prices and that is your projected target.
It is the point of break.
Last time I measured "weeks ago" depending on how you draw the trendlines w/ or w/o wicks the measure was appx 400 to 450 USD.
Off a break of (if I remember correctly) 1650, giving us a target and new high of 2100 - 2150/
This is a serious price to overtake. Let's see what kind of bounty this chart can provide.
BTW, this is long/longer term trading. Don't expect my target in a week.
THANK YOU!
Enjoy!
Xt-
Finally.
It just "wasn't there" last time in multiple accords and the summer doldrums took over. We can see where that lead!
Now to obtain the target - ONE NEEDS to
A. Measure the width in dollars (easiest) or pips between the HIGH and the LOW using (USD easiest method) or pips. of the Symmetrical Triangle which I have dubbed "SYM-T".
B Next take that measure / amount, even draw a tl if you want to get really technical, and add it to the POINT OF BREAK of the SYM T - NOT the tip.
C. add the two prices and that is your projected target.
It is the point of break.
Last time I measured "weeks ago" depending on how you draw the trendlines w/ or w/o wicks the measure was appx 400 to 450 USD.
Off a break of (if I remember correctly) 1650, giving us a target and new high of 2100 - 2150/
This is a serious price to overtake. Let's see what kind of bounty this chart can provide.
BTW, this is long/longer term trading. Don't expect my target in a week.
THANK YOU!
Enjoy!
Xt-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #20,757
- Sep 4, 2012 11:36pm Sep 4, 2012 11:36pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
Let's take the average investor, with the average financial sales guy, playing safe, yet adding some risk to the person's account he manages.
There is likely, roughly 10 to 20 pct of this account (20 a bit more generous and the customers would need to know) is in Metals and or commodities, like sugar, etc.
Something I have learned here is the vast majority of traders that are new/ newish, think this is a get rich quick scheme, only requiring slight knowledge like addition, and maybe a report or two, to make money. Like black jack.
They often don't realize the amount of 401ks, IRAs, etc. tied up in markets, especially in this case stocks.
now there are very well people that have been holding and profiting off gold from 700, 900, 1050, etc.
People do hold for years.
You can buy Miners - GLD - Most popular and accurate to spot price, (who knows how much metal they actually have...
NYSE Liffe etc. plenty of options for exposure.....
There is likely, roughly 10 to 20 pct of this account (20 a bit more generous and the customers would need to know) is in Metals and or commodities, like sugar, etc.
Something I have learned here is the vast majority of traders that are new/ newish, think this is a get rich quick scheme, only requiring slight knowledge like addition, and maybe a report or two, to make money. Like black jack.
They often don't realize the amount of 401ks, IRAs, etc. tied up in markets, especially in this case stocks.
now there are very well people that have been holding and profiting off gold from 700, 900, 1050, etc.
People do hold for years.
You can buy Miners - GLD - Most popular and accurate to spot price, (who knows how much metal they actually have...
NYSE Liffe etc. plenty of options for exposure.....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #20,758
- Sep 4, 2012 11:38pm Sep 4, 2012 11:38pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
