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

Suggest keeping an eye on GC Daily 14,3,3 stochastics as per previous messages...

beeb

what a different between stochastics 60,3,3 and 14,3,3..and why you suggest 14,3,3

thanks

Retracement coming soon?

RBN resistance or support

http://i45.tinypic.com/2rqzszp.jpg


14,3,3

Gary Wagner does an excellent job explaining the current Eliot Wave for gold in the first 8 minutes of this video.



His technical analysis is usually very good and his "insider" information (finding out when the major players are buying and selling) is priceless. The remainder of this interview is mostly conversational and speculative and not worth watching unless you have time to spare.

...

The majority of technical analysts are calling for gold to drop to the $1665 area, but stay nimble. When sentiment swings too far in one direction is exactly when the market changes direction and being aware of this has both saved me from what could have been major losses and made me some of my greatest gains. We could easily see a sudden spike down followed by an immediate reversal with an upward surge too fast for limit orders to be filled as happened several times in the past couple of years, possibly leaving you on the wrong side of the move.

On the other hand, US$ is poised to fall further which may translate into gold and silver moving sideways rather than down, or possibly even drifting upwards. Any time the fundamentals contradict the technicals, which I believe is the current situation, I find it's wisest to stay out of the market, at least as far as trading highly leveraged assets like futures is concerned.

If I were not already fully loaded with gold, silver, and miners investment-wise, I would be happy to pick up more ETFs or buy physical metals at this point rather than hope for a further drop because you don't want to regret that you didn't buy at these levels when gold and platinum are back at $1800 and silver at $35 just as I regretted not buying them at $1500 and $24 when they were at $1600 and $28.

Obviously the difference is the "speed" - back check them both against past action. Look at the signals the 14,3,3 has tended to give re price when it crosses and closes from above 80 or below 20. Not to be used in isolation though.....

Also be aware that we have NFP on Friday and of the "normal" action around that announcement......

beeb

On the 8 hour US spot gold chart, RSI bottomed when the price was rejected from the 38.2% retracement (purple line) of the May/October move. This is a nice parallel with the long-term bull channel (solid green, resistance and pivot lines shown) and if gold breaks above the short-term bear channel (red dashes) I'd be inclined to believe gold may not drop any further, but it needs to break above the mid-term bear channel (green dashes - gold is just above the pivot) before I'm ready to go buy-and-hold long on full gold futures.

I did, however, take earlier and just exit now, a long scalp on Feb MGC based on RSI on the 5 minute chart for some grocery money.

My 5 min "grocery money " GC

http://www.screencast.com/t/2TkA9AxK

beeb

I'm tentatively going to repeat the process if gold returns to $1702.50-ish (your lower dotted line) for another $5-$10 scalp if I get RSI confirmation. Alternately, I may ride it down from probably $1707.50-ish and hold it a bit longer as the hourly RSI is nearing the top, but either way I plan to be out before the non-farm payroll.

Looks like a big squeeze on the daily gold chart.

?

beeb

Reminder of free forks webinar with pm analysis today:

http://www.coghlancapital.com/node/4770

beeb

no financial interest etc

What is the daily range of spot gold ?

http://i46.tinypic.com/qzkiu1.jpg


MA50 , MA100


http://i50.tinypic.com/25qc4ls.jpg



.

Would be good to get some feedback about whether this was of interest - pm me....

beeb

hello,everyone. new guy ~~~

bullish sliver on long term

what makes u say that .... a little help by way of explaning your chart could help us read your charts better .....

two views by two giants :

Goldman Sachs calling for the end of the gold bull market


Morgan Stanley: Gold, Silver Among Top Commodity Picks For 2013

who knows what that the other does not ???

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anyway , looking at the MAs and supports on my chart ..... will the MA50 cross MA100 down or bounce off the MA100 ... ?

http://i47.tinypic.com/2chxq51.jpg


.

Having to chose one, I would go with GOLDMANSUCKS. Morgan Stanley predictions are one of my favorite contrary indicators.

See Jim Sinclair on the vampire squid:

http://www.jsmineset.com/2012/12/05/jims-mailbox-1115/

beeb

EDIT - Also note the GC Daily 14,3,3 stochastics - which are beginning to look interesting from a swing long perspective - but be warned that tomorrow is NFP......