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

Monday Report: I cannot find sufficient arguments to buy, YET!

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It’s exclusively designed for professional traders. I created this site as a guide to understand my report: http://gino32.wix.com/indepthmarketreport#!home/mainPage

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Guys any doubts or questions will be solved on Weekend. I will make a FAQ with any questions you have.

There is an inverse Head and Shoulders pattern on Gold. What do you think guys?

Tuesday Report:

This report contains: Econometric, Technical, cyclical fundamental and order flow analysis.

It’s exclusively designed for professional traders. I created this site as a guide to understand my report: http://gino32.wix.com/indepthmarketreport#!home/mainPage

Made by Gino

(Anyone who wants this report via email, just send me an email to [color=blue][email protected][/color]) I usually post the report at this hour. (10 pm GMT -6)

Guys any doubts or questions will be solved on Weekend. I will make a FAQ with any questions you have.

vsa - I assume you are talking about the Daily timeframe....

There could very well be a small inverse H and S

Personally I would be more comfortable when thin holiday market and opex are out the way

beeb

More from Andy Maguire -

http://www.tfmetalsreport.com/blog/4...tals+Report%29

You might want to skirt the site itself as, unfortunately, like so many US precious metals sites, it's basically a haven for right wing mouth-breathing knucledraggers, religious maniacs and gun nuts.......

beeb

Wednesday Report: For the Short Term, Long is now a possibility but remember short bias at 1.30+-

This report contains: Econometric, Technical, cyclical fundamental and order flow analysis.

It’s exclusively designed for professional traders. I created this site as a guide to understand my report:
http://gino32.wix.com/indepthmarketreport#!home/mainPage

Made by Gino

(Anyone who wants this report via email, just send me an email to [color=blue][email protected][/color])

I usually post the report at this hour. (10 pm GMT -6)

Guys any doubts or questions will be solved on Weekend. I will make a FAQ with any questions you have.

XAUUSD (GOLD) Formed a inverted head and shoulder pattern on daily chart.
price currently near neckline. If breakout happen then 1790 would be reasonable target.

http://tigerfxbd.com/wp-content/uplo...2-1024x527.png

beeb,
jst wantd to thankyou .. thankyou for all your countless posts. you dont know how much they have helpd me ... saving me from bad entries .
your forks have saved me lots of time even i kept my tp's based on ur forks only..
iam ur culprit in the sense tht i view ur forks regularly but dont comment on them.. im sorry brothr...
but inside iam grateful to you, xtrade n couple of more ppl around here on this thread .. to help out the newbies out there...
the stuff which u post, the reasons u all give r the result of years of trading which you all r giving jst for free..
thanku mates..
may green pips be with u ever...
adios.

Glad to have helped husain....



beeb

I hope that nobody followed vaidas7777's unsupported trading "advice" from post #21774...........

beeb

Waiting for $1750 as tp from $1724

The BRN effect?

beeb

I'm waiting for 1800 as TP from 1593....will it happen?

Yes but when is the question.
For me I'm trying to grow my account and I need to in/out to max my profit and find good entries not only in gold but other major pairs.

Sorry beeb what is BRN effect?

Big
Round
Number

beeb

EDIT - with opex approaching I wouldn't be surprised to see some gaming around that level - maybe a pop through to 1760 then a retracement......or maybe the phys market will just push it through....

US Gold has finally broken the downward RSI line and is now butting up against the 61.8% retracement...



...but Gold in Euros is still in a downtrend topped by the 50 DMA with fractal RSI also in a downtrend...



...so more cautious minded folk (like myself) trading Dec GC might want to wait for Euro gold to break before adding to your positions.

If you missed this move, it's always safer, and usually more profitable, to wait for for a pullback than enter a long position at the top of a move hoping it continues. I expect Monday will provide another chance to come in at $1735 (50% Fibonacci retracement and now support) and I'd be very (albeit pleasantly) surprised if we see anything lower.

Though I don't like using them for my futures trading, I'll be putting a stop at $1745(ish) and a re-order at $1735 before I end my trading today if gold doesn't break through $1750 by market close. Failing to break $1750 today would very likely put $1735 to the test as support Monday before continuing upwards later in the week.

Hello everyone.

Nice insights there, KADC. Interesting to see Gold/EUR has been well restrained this week, not to mention generally the Euro optimism of recent days. In comparison, the USDollar took a significant hit across the board, finally causing that pesky $1733-39 resistance area on XAU/USD to give way. I agree that there is a chance of profit taking at this level - if this happens it would be a welcome sign for swingers to jump in long.

$1790 is the next logical target for me, with weekly ATR suggesting that this is achievable over the next week (maybe two). Weekly price movement is forming a wedge with $1800 as strong horizontal support. I am optimistic that $1800 will break on a fourth attempt and open the floodgates (potentially $1900). Personally I would treat this as an entirely separate trade.



Be safe. It is possible, though I wouldn't bet on it, that that rising trend line is tested again before an attempt at $1790.

Cheers
Bill

Good moves yesterday.

Even though it was in "holiday conditions" there was significant volume involved.

GC 10 mins showing volume bars at the bottom:

http://www.screencast.com/t/rx9WtuONo

SI 10 mins ditto:

http://www.screencast.com/t/1y0g5Tj3

beeb