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

  • #21,961
  • Dec 20, 2012 4:52pm Dec 20, 2012 4:52pm
ok thanks






Quoting beeb
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:


SI 240 note how the likely stops were fished:



GC 240:



Happy Hols once more

beeb

And please DO NOT REPOST THESE CHARTS.....
ahdts
  • #21,962
  • Dec 21, 2012 12:06am Dec 21, 2012 12:06am
Quoting Fizie
manipulated?? wow... huhuh thanks for the clarification sir..
Well when I said manipulated I was actually refering to the price and not literally the handle. Either way I am just speculating. What XT said about patterns rarely being textbook is a point worth remembering.

BTW Merry Christmas and Happy Holidays to all those concerned.
Education has its reward, ignorance has its price.
  • #21,963
  • Dec 21, 2012 2:12pm Dec 21, 2012 2:12pm
Quoting ahdts
ok thanks

errm ....... care to share what u understood from his charts .... which direction is it pointing to ?
  • #21,964
  • Dec 21, 2012 10:28pm Dec 21, 2012 10:28pm
Hold it into the new year with a low position size.

Working on a chart.

Quoting ahdts
whats happen will be if im open position buy @1649 ?
whats is your predict ?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,965
  • Dec 21, 2012 11:01pm Dec 21, 2012 11:01pm
Quoting KADC
I hope you had the good sense to close this position before it dropped another $15 from where it was when you made this post. What was your reasoning behind opening a long at $1681?
I had closed the position before losing all money. Any how I will be come back soon with great passion.

I would like to narrate a few reason of my failure, although it is not appropriate forum but it may help to other and also I will review it help me to remove my deficiency.

1. Emotion: when ever market was against me I became emotional and purchased more and more instead of closing position.

2. Fair of failure: In my broker demo accounts I triplicate the initial investment within one month, and it happened two or three time, but with my real capital though I had good reason that marked would go positively but I was reluctant so could not make money.

3. Not obtaining the advice from expert: I have joined this forum on the day when my ship sunk.

4. Not using the stop loss limit

I would also like to share my strategy and their out come

Strategy 1: my firs strategy. open and closed the position on same day for few margin ( I left it because it was giving me low return)
Strategy 2:waiting that marked went at low then purchased and later on sold ( it was good strategy but due to my emotional behavior i could not continue)
Strategy 3: open position and wait for good time either it went worst but wait.( My last strategy of losing wealth)

Other expert kindly comments if they think some good advice in my point of view Future can be predicted but we are unpredictable

regards
  • #21,966
  • Dec 21, 2012 11:15pm Dec 21, 2012 11:15pm
Looks like we are on a weekly TL. I am looking at the possibility of the cup and handle panning out, but it looks as
though right were it was supposed to shoot up it shot down, on pos. US news and end of the year profit taking and position squaring.

Seems the USDX - Swissy and Gold all rose today, oil and indicies south.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,967
  • Dec 22, 2012 1:47am Dec 22, 2012 1:47am
it is at times like this that makes one wonder the reliablity of the technical analysis and the chart patterns.

if it is manipulated , how far to trust the TAs ?
  • #21,968
  • Dec 22, 2012 9:35am Dec 22, 2012 9:35am
Quoting kshahzad
I had closed the position before losing all money. Any how I will be come back soon with great passion.

I would like to narrate a few reason of my failure, although it is not appropriate forum but it may help to other and also I will review it help me to remove my deficiency.

1. Emotion: when ever market was against me I became emotional and purchased more and more instead of closing position.

2. Fair of failure: In my broker demo accounts I triplicate the initial investment within one month, and it happened two or three time, but with my...
I have same long position but @ 1697 ... but still didnt close ... I have hedged the position by selling @ 1684 ... I will wait untill price drops under 1635 to close the short position ... price will move up again ... next month ... and thats for sure
let the chart to be your chauffeur ... -Forexmnstr-
  • #21,969
  • Dec 22, 2012 2:08pm Dec 22, 2012 2:08pm
Quoting forexmnstr
I have same long position but @ 1697 ... but still didnt close ... I have hedged the position by selling @ 1684 ... I will wait untill price drops under 1635 to close the short position ... price will move up again ... next month ... and thats for sure
I had $1635 as a target as well but moved it up to $1637.50 for Feb GC, just above Thursday's low. I may place a short at $1663ish, the confluence of the 38.2% retracement of the fall since Tuesday and the 61.8% retracement of Thursday's fall if gold is still around that level when the European session opens Sunday night. I'll use a trailing stop rather than an exit target in case, like last year, we get a sudden spike down past $1635 (to be followed by an equally sudden spike up).
You can always make money tomorrow provided you don't lose it today.
  • #21,970
  • Dec 23, 2012 2:52am Dec 23, 2012 2:52am
http://www.kingworldnews.com/kingwor...w_Maguire.html

beeb
  • #21,971
  • Dec 23, 2012 5:36pm Dec 23, 2012 5:36pm
Quoting beeb
http://www.kingworldnews.com/kingwor...w_Maguire.html

beeb
Here's the link to part 2:

http://www.kingworldnews.com/kingwor...__Part_II.html
You can always make money tomorrow provided you don't lose it today.
  • #21,972
  • Dec 23, 2012 5:46pm Dec 23, 2012 5:46pm
Looks like for xmas period gold could go higher, to 1668 level. Sellof was the reaction to fiscall cliff progress, and nothing happened. Also here is big risks in egypt, earthquaqe possibility and many reasons to risk aversion.
  • #21,973
  • Dec 23, 2012 6:12pm Dec 23, 2012 6:12pm
I have an order to short Feb GC from $1662. In addition to the confluence I mentioned 3 posts ago, it is also the 50% retracement of the full move from May's low to October's high. Another equal step down would hit roughly $1620 though I don't have anything else coinciding with that level. $1630, $1600, and $1585 are more significant support targets on the daily chart and we'll just have to wait until the 27th to see how low the banks are willing to push gold before they buy it back. Of course, there's no guarantee of a repeat of what happened last year but to my way of thinking it seems likely.

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You can always make money tomorrow provided you don't lose it today.
  • #21,974
  • Dec 24, 2012 1:04am Dec 24, 2012 1:04am
Quoting KADC
I have an order to short Feb GC from $1662. In addition to the confluence I mentioned 3 posts ago, it is also the 50% retracement of the full move from May's low to October's high. Another equal step down would hit roughly $1620 though I don't have anything else coinciding with that level. $1630, $1600, and $1585 are more significant support targets on the daily chart and we'll just have to wait until the 27th to see how low the banks are willing to push gold before they buy it back. Of course, there's no guarantee of a repeat of what happened...
Could you share us your trading strategy, how you predict the market?

regards
  • #21,975
  • Dec 24, 2012 2:14am Dec 24, 2012 2:14am
Quoting kshahzad
Could you share us your trading strategy, how you predict the market?

regards
I post my thoughts about the market and my charts fairly regularly, as do many others, so if you're new to this forum you should read some of the older posts. For this specific position you don't have to go back very far.

RSI on the five minute chart just broke below the support line and it's bounced off the resistance line on the hourly chart so gold it looks like it may be turning around at $1666; however, that doesn't correlate to any of my trendlines other than as minor resistance nor any Fibonacci levels so I'm out if it breaks above $1666.
You can always make money tomorrow provided you don't lose it today.
  • #21,976
  • Dec 24, 2012 2:42am Dec 24, 2012 2:42am
What is happening ... gold is rising back ... retracing back to 1700 I guess ... guys just close your short positions right away as i did
let the chart to be your chauffeur ... -Forexmnstr-
  • #21,977
  • Dec 24, 2012 3:21am Dec 24, 2012 3:21am
I guess I should not bother about closing short until 1680
  • #21,978
  • Edited 3:37am Dec 24, 2012 3:25am | Edited 3:37am
Quoting forexmnstr
What is happening ... gold is rising back ... retracing back to 1700 I guess ... guys just close your short positions right away as i did
I don't see gold rising $35 in the near term nor any reason to close my short at the moment. On what are you basing your analysis?
You can always make money tomorrow provided you don't lose it today.
  • #21,979
  • Dec 24, 2012 3:28am Dec 24, 2012 3:28am
I wrote previously gold bottomed on the 27th last year but it was actually the 28th. I apologise for that error. I'm still expecting the reversal on the 27 this year, however, as that is still the December gold and silver futures expiration date this year and sell-offs for tax reasons should have concluded by then.
You can always make money tomorrow provided you don't lose it today.
  • #21,980
  • Edited 5:17am Dec 24, 2012 3:56am | Edited 5:17am
Quoting forexmnstr
What is happening ... gold is rising back ... retracing back to 1700 I guess ... guys just close your short positions right away as i did
In the daily time frame,Perhaps Gold's forming the Elliott Fourth Wave and we should expect a new spike down around 1630 to form the 5th wave then,
A breakthrough of 1683 will invalidate this scenario and that's when we should look for a long position,in my opinion.
feedback is welcomed as I'm somewhat newbie
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