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

  • #21,941
  • Dec 20, 2012 10:44am Dec 20, 2012 10:44am
hye everyone... really like reading all the analysis in this thread help me alot in forex market.. kinda new here just want to ask about the cup and handle pattern.. does this pattern become invalid if the price reach 1600? not sure how the handle was suppose to take shape..

http://i.investopedia.com/inv/dictio...and_Handle.gif
Risk comes from not knowing what you're doing.
  • #21,942
  • Dec 20, 2012 10:55am Dec 20, 2012 10:55am
Quoting ahdts
thats right.
you can see on my trade explorer.. can you give me suggest to trading again?
From what I can see you have held on to your longs in the hopes that gold will soon move back up. Unfortunately I don't really see that happening too soon. Gold has taken out all of the supports on my charts and all that is left are potential areas of support which are so far unproven. The next one for me would be ~ 1630 (but I stress again it is unproven and I would not go long there until I see proof).

As for your open trades I am really not in a position to advise you as I have no idea how many lots you are long and how many you are short or even how much margin you have left. You might want to consider cutting your losses and rethink your current strategy.
Education has its reward, ignorance has its price.
  • #21,943
  • Dec 20, 2012 10:57am Dec 20, 2012 10:57am
like this...


Quoting KADC
No, it isn't a good bet. It's unreasoned, unfounded, and undisciplined. This may be fun and games to you playing with your demo account, but most of the people in this forum have invested real money, so please only make posts when you can back up your statements with genuine technical analysis.
ahdts
  • #21,944
  • Dec 20, 2012 10:59am Dec 20, 2012 10:59am
thanks,, any someone give me ways for action ?


Quoting Uneek
From what I can see you have held on to your longs in the hopes that gold will soon move back up. Unfortunately I don't really see that happening too soon. Gold has taken out all of the supports on my charts and all that is left are potential areas of support which are so far unproven. The next one for me would be ~ 1630 (but I stress again it is unproven and I would not go long there until I see proof).

As for your open trades I am really not in a position to advise you as I have no idea how many lots you are long and how many you are short or...
ahdts
  • #21,945
  • Dec 20, 2012 11:06am Dec 20, 2012 11:06am
Quoting Uneek
From what I can see you have held on to your longs in the hopes that gold will soon move back up. Unfortunately I don't really see that happening too soon. Gold has taken out all of the supports on my charts and all that is left are potential areas of support which are so far unproven. The next one for me would be ~ 1630 (but I stress again it is unproven and I would not go long there until I see proof).

As for your open trades I am really not in a position to advise you as I have no idea how many lots you are long and how many you are short or...
unproven support 1630, 1621.
Forex Trading is like Fitness: the Key is Patience.
  • #21,946
  • Dec 20, 2012 11:07am Dec 20, 2012 11:07am
Quoting Fizie
hye everyone... really like reading all the analysis in this thread help me alot in forex market.. kinda new here just want to ask about the cup and handle pattern.. does this pattern become invalid if the price reach 1600? not sure how the handle was suppose to take shape..

http://i.investopedia.com/inv/dictio...and_Handle.gif
Generally the handle should form in the upper half of the cup ie. above 1660 so either the pattern is no longer valid or the handle is being manipulated.
Education has its reward, ignorance has its price.
  • #21,947
  • Dec 20, 2012 11:09am Dec 20, 2012 11:09am
Quoting ahdts
thats right.
you can see on my trade explorer.. can you give me suggest to trading again?
A couple analysts at DailyFX agree with Uneek of a near-term target of $1630, but my personal exit for today is $1635 with a well-into-the-money stop loss at $1645. Realistically, you've missed the move for gold and silver today and you should wait for the next "clear" trading set-up after the US market closes based on your own analysis.

I won't trade against the grain, and right now we are in a downtrend (long term notwithstanding), so with RSI near the bottom on every time frame from the daily to hourly charts, you'd need to trade on the five minute charts where you might find an RSI entry trigger around $1641 at the 38.2% retracement of the last "step" from $1648 to $1636 using Feb GC (US$ spot gold is trading about 80¢ lower).
You can always make money tomorrow provided you don't lose it today.
  • #21,948
  • Dec 20, 2012 12:55pm Dec 20, 2012 12:55pm
Quoting Uneek
Generally the handle should form in the upper half of the cup ie. above 1660 so either the pattern is no longer valid or the handle is being manipulated.
manipulated?? wow... huhuh thanks for the clarification sir..
Risk comes from not knowing what you're doing.
  • #21,949
  • Dec 20, 2012 1:02pm Dec 20, 2012 1:02pm
Quoting ahdts
xau usd
You posted a list of numbers including resistance levels below the current price action: Is that supposed to make sense?
You can always make money tomorrow provided you don't lose it today.
  • #21,950
  • Dec 20, 2012 1:05pm Dec 20, 2012 1:05pm
I'm long silver from 30.28, at a real price extreme now, needs to at least go to 31.32
  • #21,951
  • Dec 20, 2012 1:12pm Dec 20, 2012 1:12pm
yeah just sugessted, dont be lated to save , so thanks for the respon

Quoting KADC
You posted a list of numbers including resistance levels below the current price action: Is that supposed to make sense?
ahdts
  • #21,952
  • Dec 20, 2012 1:23pm Dec 20, 2012 1:23pm
Was enjoying a little end of the year break and just riding some positions until today.

Gold is getting hammered due to news the past couple days, today it looks like the US GDP crushed it.

My analysis for the potential cup and handle on the weekly looks like it might be potentially shot now....


At least if she could have stayed around 1700 till after the new year it might have been ok.

The only good part of this is buying physical for cheap.

Silver loses the 30 handle and about 2 bucks in 3 days! Y I K E S!!!!!!

Time to post a chart. and let's see if it may still be valid.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,953
  • Dec 20, 2012 1:29pm Dec 20, 2012 1:29pm
Hey X, how r u doing, Happy Holidays Buddy


Quoting XTrade
Was enjoying a little end of the year break and just riding some positions until today.

Gold is getting hammered due to news the past couple days, today it looks like the US GDP crushed it.

My analysis for the potential cup and handle on the weekly looks like it might be potentially shot now....


At least if she could have stayed around 1700 till after the new year it might have been ok.

The only good part of this is buying physical for cheap.

Silver loses the 30 handle and about 2 bucks in 3 days! Y I K E S!!!!!!

Time to post...
  • #21,954
  • Dec 20, 2012 1:31pm Dec 20, 2012 1:31pm
Nothing is ever textbook with these patterns, or at least rarely. pulling up charts.
Quoting Uneek
Generally the handle should form in the upper half of the cup ie. above 1660 so either the pattern is no longer valid or the handle is being manipulated.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,955
  • Dec 20, 2012 1:33pm Dec 20, 2012 1:33pm
Quoting XTrade
Nothing is ever textbook with these patterns, or at least rarely. pulling up charts.
thanks you so much xtrade...
Risk comes from not knowing what you're doing.
  • #21,956
  • Dec 20, 2012 1:34pm Dec 20, 2012 1:34pm
Hey there!
I'm well, Thanks - hope everyone is well going into the Holiday's and New Years! Was just taking a bit of a break for end of year.
But, been meaning to make some end of year posts.
How bout yourself?

Some of this is also profit taking now..... End of year position squaring.

Quoting ssaqeel
Hey X, how r u doing, Happy Holidays Buddy
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,957
  • Dec 20, 2012 1:36pm Dec 20, 2012 1:36pm
Good Thanks, would love to see some charts from you....missing those charts from u.



Quoting XTrade
Hey there!
I'm well, Thanks - hope everyone is well going into the Holiday's and New Years! Was just taking a bit of a break for end of year.
But, been meaning to make some end of year posts.
How bout yourself?

Some of this is also profit taking now..... End of year position squaring.
  • #21,958
  • Dec 20, 2012 1:40pm Dec 20, 2012 1:40pm
happy holidays



Quoting XTrade
Nothing is ever textbook with these patterns, or at least rarely. pulling up charts.
ahdts
  • #21,959
  • Dec 20, 2012 3:07pm Dec 20, 2012 3:07pm
whats happen will be if im open position buy @1649 ?
whats is your predict ?


Quoting XTrade
Was enjoying a little end of the year break and just riding some positions until today.

Gold is getting hammered due to news the past couple days, today it looks like the US GDP crushed it.

My analysis for the potential cup and handle on the weekly looks like it might be potentially shot now....


At least if she could have stayed around 1700 till after the new year it might have been ok.

The only good part of this is buying physical for cheap.

Silver loses the 30 handle and about 2 bucks in 3 days! Y I K E S!!!!!!

Time to post a chart. and...
ahdts
  • #21,960
  • Edited 4:51pm Dec 20, 2012 3:18pm | Edited 4:51pm
I know I said I wasn't going to post again this year but I'm sure some people are in deep sh#t today....

SI 240 Immaculate ABCD:

http://www.screencast.com/t/VXPBW2zbDpW


SI 240 note how the likely stops were fished:

http://www.screencast.com/t/PhzY3hvJs0b6


GC 240:

http://www.screencast.com/t/x4cSp8FG


Happy Hols once more

beeb

And please DO NOT REPOST THESE CHARTS.....
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