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

  • #21,521
  • Nov 1, 2012 7:24am Nov 1, 2012 7:24am
Ok Aplogies.
  • #21,522
  • Nov 1, 2012 7:42am Nov 1, 2012 7:42am
Quoting llrickkll
Looking at my H4 graph, it shows that the "downtrend pitchfork" has been broken to the upside. I would say to wait until 1730ish to confirm the upside move.

Looking at weekly pitchfork chart, Bullish trend is still in place and looks like 1700 provide a strong support for the bull to resume.

HOWEVER, do not forget that tomorrow is NFP and US unemployment data release, massive volatility is going to take place,

You're beginning to sound like me

beeb
  • #21,523
  • Nov 1, 2012 9:30am Nov 1, 2012 9:30am
Quoting ywkoh
Hi, mind to share how you get this chart? What indicator is that to show the long/short holdings?
Cumulative Delta. A Bid/Ask study that plots the differential of market orders.

You can Google to get more information on the methodology.

Some find merit in it, some don't. That is for you to decide.
  • #21,524
  • Nov 2, 2012 12:32am Nov 2, 2012 12:32am
Inserted Video
  • #21,525
  • Nov 2, 2012 12:33am Nov 2, 2012 12:33am
Inserted Video
  • #21,526
  • Edited 5:43am Nov 2, 2012 5:17am | Edited 5:43am
FFS - I've heard more cogent reasoning in the strained grunts emanating from the last cubicle on the left in the public toilets at Paddington Station.....

Please spare us this trash

beeb
  • #21,527
  • Nov 2, 2012 6:47am Nov 2, 2012 6:47am
Time to invest in a telescope.
Education has its reward, ignorance has its price.
  • #21,528
  • Nov 2, 2012 8:07am Nov 2, 2012 8:07am
Hey Beeb
Can you please post your pitch fork day chart for GC and SI.
  • #21,529
  • Nov 2, 2012 8:15am Nov 2, 2012 8:15am
Quoting beeb
FFS - I've heard more cogent reasoning in the strained grunts emanating from the last cubicle on the left in the public toilets at Paddington Station.....

Please spare us this trash

beeb
I subscribe to Kitco News, but I rarely watch the videos, particularly the trade show videos -- doubly so when that woman, who I presume must be the wife of someone at Kitco because she is neither attractive enough to have landed the job based on her looks nor knowledgeable enough to have got it based on her credentials, is doing the interviews.
You can always make money tomorrow provided you don't lose it today.
  • #21,530
  • Nov 2, 2012 8:50am Nov 2, 2012 8:50am
http://mobile.bloomberg.com/news/201...mmodities.html

really have no idea about this news..everybody bullish on gold but now 1690!..funny..
  • #21,531
  • Nov 2, 2012 9:05am Nov 2, 2012 9:05am
Quoting kamen
http://mobile.bloomberg.com/news/201...mmodities.html

really have no idea about this news..everybody bullish on gold but now 1690!..funny..
Not everybody is bullish on gold. I doubt one report can speak for all gold traders. Also have to consider that many are long term bullish but short term neutral. 1690 is the 38.2% fib retracement level for May's low to Oct's high and I guess many are waiting for the results of next weeks election before taking up any position.

Or it could be that Jupiter is not in the right place at the moment.
Education has its reward, ignorance has its price.
  • #21,532
  • Nov 2, 2012 9:07am Nov 2, 2012 9:07am
Quoting kamen
http://mobile.bloomberg.com/news/201...mmodities.html

really have no idea about this news..everybody bullish on gold but now 1690!..funny..
it is quite logical in terms of manageable market
  • #21,533
  • Nov 2, 2012 10:01am Nov 2, 2012 10:01am
Whoever wins the election, what implication would it have?

I feel the market is a bit oversold now yet it's breaking fib levels, heading south. Guess it might test the 61.8% (1630) before it stops. A

Quoting Uneek
Not everybody is bullish on gold. I doubt one report can speak for all gold traders. Also have to consider that many are long term bullish but short term neutral. 1690 is the 38.2% fib retracement level for May's low to Oct's high and I guess many are waiting for the results of next weeks election before taking up any position.

Or it could be that Jupiter is not in the right place at the moment.
  • #21,534
  • Nov 2, 2012 10:19am Nov 2, 2012 10:19am
i think gold will remain bullish for the next year
  • #21,535
  • Nov 2, 2012 10:28am Nov 2, 2012 10:28am
i think its a bye bye
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  • #21,536
  • Nov 2, 2012 10:29am Nov 2, 2012 10:29am
Cup and Handle, limit normally is 50% of the top and bottom of cup giving about 1658
I have no enemy; I make Incautiousness my Enemy.
  • #21,537
  • Nov 2, 2012 10:33am Nov 2, 2012 10:33am
Quoting jimobiwan
Cup and Handle, limit normally is 50% of the top and bottom of cup giving about 1658
Having problems posting the chart
Attached Image (click to enlarge)
Click to Enlarge Name: cup and c han.jpg Size: 160 KB
I have no enemy; I make Incautiousness my Enemy.
  • #21,538
  • Nov 2, 2012 11:03am Nov 2, 2012 11:03am
thanks for the reply

it will be new information for me thanks a lot
  • #21,539
  • Nov 2, 2012 11:33am Nov 2, 2012 11:33am
I'm preoccupied evaluating stocks, so I placed a reversal order to go long at $1670 assuming my past analysis (and what appears to be the general consensus so no point in reposting) that the next leg down will be the 50% retracement/200 DMA is correct. I'm well into profit so if the reversal doesn't trigger by the end of the day I may simply exit my short wherever it stands and re-evaluate on Monday. A breach of $1700(ish) would probably get me to exit as well depending on what the other indicators look like.

All my metal-related ETFs buy orders for this "level" (about where everything is now) of their respective corrections have triggered, so I've similarly added a new batch of buy orders for the next and presumably bottom "level" (roughly equivalent to where gold will be at $1670 if you were to overlay them on the same chart).

Someone asked me earlier regarding my post about October/November historical charts. I was thinking about Diwali and how it changes from year to year like Easter, so I looked at the historical graphs a bit closer and an argument could be made for the reversal coinciding with the start of Diwali (November 13th this year); though I wouldn't use that as a basis for taking a position as one might when scalping on futures/options expiration dates.

Good fortune to all.
You can always make money tomorrow provided you don't lose it today.
  • #21,540
  • Nov 2, 2012 11:47am Nov 2, 2012 11:47am
Market Nuggets: Gold May Be Under Pressure After US Elections – Deutsche Bank

Friday November 2, 2012 10:54 AM
Gold prices are trading in a range, but after the U.S. elections, news flow for the rest of the year could be moderately negative for gold which would result in weaker prices, says Deutsche Bank.

(A)

“Once U.S. elections are over, the market may begin to focus on the fiscal cliff (expiry of Bush tax cuts) and/or the debt ceiling, which could be hit early next year. These issues, combined with the possibility of renewed concerns regarding the eurozone, particularly Greece and Spain, and the potential for further liquidity-related risk aversion is quite high in our view. This in turn would ordinarily lead to some pressure on the gold price,” they say.

OR

(B)

Offsetting that is the trend of central bank buying, they add. “We see the $1,700/oz or just below as just such a level where opportunistic and longer-term buying is likely to emerge,” they say.




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