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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

Quoting XTrade
So gold lost 30 bucks or so off it's high. Not a bad short, yet great for forming a slight downward channel on the weekly in order to fulfill the handle part of the cup.

Hi Xtrade.

is the cup using 29FEB high to 16MAY low? I read that a handle is normally no more than half the cup which puts it at 1658.2 and takes 4 weeks to form.

Is that what you are seeing?
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I have no enemy; I make Incautiousness my Enemy.
One world currency will be backed by gold and silver.

Gold will rise to 3k and silver 75 per this video:
http://www.infowars.com/lindsey-williams-master-plan-to-bring-down-america-revealed/

listen around 44:00 mark.

Regards,
rozario173
I'm writing to ask whether anyone has thoughts on what will happen in the foreign exchange markets on election day, USA....and specifically, with gold.

Maybe someone even has winner-specific thoughts about direction.

Even if I were to look back to 2008, I'm not sure it would be a good example of what might happen this time. Obama was a heavy favorite; many voted for him who will not this time around, if they even vote at all. I will not be voting and probably will never vote again; candidates are bought and paid for to follow the same extremely unfortunate agenda.

GOLD.... I guess we will see it spike upwards. But, maybe not. I will be watching it first and foremost. I wouldn't venture a guess as to candidate-specific results with gold, or EU.

Romney will almost certainly win.
The good results that the dollar received lately is nothing more than a intervention and gold will spike regardless of who will win this election. US is already in deep **** and imho has already jumped over the cliff and while it's falling the FOMC is printing as much as they can so they can land on softer ground/paper, all you can do now is to take cover and get rid of the dollar.
For longer term bulls it should be great news to hear all the negative comments re precious metals....

The GC Daily chart shown many times before shows a retracement/consolidation after a very strong rise. Not saying the correction has necessarily run it's course, but this can be considered healthy as it allows overbought indicators to unwind somewhat. Suggest looking at daily 14,3,3 stochastics - particularly how, historically, crosses through 20 and 80 have been v helpful.....

Post #21276 shows more detail....

beeb
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The dollar will soon be worthless. 6-8 months is timeframe of dollar collapse, maybe a little sooner or later, but it will happen. All the nations in the world have stopped buying oil in dollars.
Quoting rozario173
The dollar will soon be worthless. 6-8 months is timeframe of dollar collapse, maybe a little sooner or later, but it will happen. All the nations in the world have stopped buying oil in dollars.
Oh FFS.....
Quoting beeb
Oh FFS.....
What means FFS?
Quoting magicgate
What means FFS?
For fuck's sake
Still early in the evening EST. Price action has broken below the monthly pivot on the 1hr chart but is still above the 200 MA on the 4hr chart. It looks like the bears are trying (note: trying) to take charge as shown by the trend indicator. Once again this is forex, anything can happen.
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It looks like I should have held onto my short positions because that was obviously not a bounce, but on the bright side, that drop confirms the long-overdue correction is definitely underway.

Hopefully the European session will present a good re-entry point.
You can always make money tomorrow provided you don't lose it today.
"Please note that even with the dollar up and the euro down some, the respective moves do not support a minus 11 opening in gold.

This is a pre-election operation and the MSM story helping it is that Romney will be our next president. Romney and Obama as far as gold goes are the same.

Romney said he would fire Bernanke. If the Bernanke approach is changed, national bankruptcies will follow within weeks.

I assure you the election of Romney, if it was to occur, will not change anything in the story of gold other than adding more drama."


Jim Sinclair
Hey Beeb
My pitch fork in a h4 chart says that bull is still not over and we can see Gold would go up now after it has touched 1742. Wht do you think about this.
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Quoting Paras4you
Hey Beeb
My pitch fork in a h4 chart says that bull is still not over and we can see Gold would go up now after it has touched 1742. Wht do you think about this.

Nice to know you are still forking

Generally for an uptrending fork you should be looking for a swing low then high then low. The LP is not validated as it has not provided support previously but I think it is worth keeping an eye on....

beeb
i think it will continue north, dont know when the futures are expired, at oil usually its arorund 15th of the month....so my wild guess is,...this is all connected,...sideways until R or S broken.
its just money
Quoting de123
,...sideways until R or S broken.

Good one....


I agree with you...it will go north....but i just couldn't help it
Glad to be back here.

Finally able to devote more time.

Cheers,
fxbreeze
You can find links in the first post (see the bottom of my sig. for a link to it)

At the bottom of the post there are links to the CME futures dates of interest, some navigation may be required.. Usually it starts with the front month.

Quoting de123
i think it will continue north, dont know when the futures are expired, at oil usually its arorund 15th of the month....so my wild guess is,...this is all connected,...sideways until R or S broken.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
Thanks for sharing. As I had agreed previously, the elected president whether it be Romney or Obama will have little to no affect on the future as in "to come" price of Gold....

Sure a change in the FED, may trigger some nice waves but that;s all about I see....

IMVHO.

XT-

Quoting musclemike
"Please note that even with the dollar up and the euro down some, the respective moves do not support a minus 11 opening in gold.

This is a pre-election operation and the MSM story helping it is that Romney will be our next president. Romney and Obama as far as gold goes are the same.

Romney said he would fire Bernanke. If the Bernanke approach is changed, national bankruptcies will follow within weeks.

I assure you the election of Romney, if it was to occur, will not change anything in the story of gold other than adding more drama."


Jim...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
There will be a re - entry. always is. Let's wait for some solid support first or a confluence of support (horizontal) SMA and channel or or mix and match.

A correction was indeed imminent.

All depends on your trading style on whether to get out of profitable longs to take small shorts, or just ride the longs.


In the chart below "daily" we can see at current the correlation between the USDX and Gold is inverse and quite strong ATM.

Technically speaking, it looks like there could be potential for a further rise in the USDX and a slight more dip in Gold before the correction is complete.

Then I expect rejection in the USDX and continued rise in Gold after needed support is established.

Quoting Kadc
It looks like I should have held onto my short positions because that was obviously not a bounce, but on the bright side, that drop confirms the long-overdue correction is definitely underway.

Hopefully the European session will present a good re-entry point.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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