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

1. Oil Trades Near Four-Month High Before Bank of Japan Decision
2. India, Largest Gold Buyer, Raises Import Tax to Cut Deficit

GOLD
Markets
Gold extended its advance toward a one-month high, Spot gold increased as much as 0.3 % to $1,694.25
and traded at $1,693.90 in Asian hours , Bullion reached a one-month high of $1,696.29 on Jan. 17 . . Gold February gained 0.4 % to $1,693.10 . Cash silver was little changed at $32.03 , after advancing for the past six days.

OIL
Brent crude oil slipped below $112 on Monday, ending a three-day rally as economic worries and concerns about oversupply offset fears of unrest in North Africa. Brent futures for March slipped 39 cents to 111.50 per barrel by 1506 GMT. U.S. crude shed 40 cents to $95.16 per barrel after touching a four-month high last week. U.S. markets were closed on Monday for a holiday

Please don't cut and paste from articles except to demonstrate your own points about trading gold and silver, and always include a link to the original article.

Just a reminder of Paul Coghlan's free forks charting webinar tomorrow:

https://www1.gotomeeting.com/register/499274952

beeb

ivars -

LOW-HIGH-LOW.......

beeb

That is why it was broken through on the downside! The C low was a bit before B high, I got it. Hope that is the one YOu smile about. Will watch webinar tomorrow for sure. However, another one on the upside just took out next resistance level and is aiming for more. I moved stop up to 32,15 bid. I hope to get a ride till 32,7 tomorrow , may be Thursdays early, then think.

http://img703.imageshack.us/img703/4...resistance.png

Looking at the weekly.
32.53
30.70
29.62
Weekly highs area 32.50-53 achieved, let's see if we can get a weekly close above yearly pivot 31.33 better yet 32.05-09 the three year pivot.
For sis, Feel your presence 1705, let's have A weekly/monthly close on the north side of ya.

will it or won't it .... break 1700 resistance ?

the primary (yearly) and secondary trend (quarterly) are up from 1663 area.
The Jan, monthly (intermediate) is down from 1705.
the normal rotation back to pivot has taken place on the monthly, one thing is for certain if were going north we have to get on the north side of 1705 area.
Normally, Taking a closer look at the daily pivot (1675) and its response will help give us a clue, however with moving forward of higher time frame into 2013 she may go right below daily pivot to stronger support the yearly pivot 1663 area.
watching sis response helps also.
wed daily
1705
1675
1660
wed daily
32.30-40
31.62
31.00
To start the day bounce down from daily highs area 32.30 noted, eyes on how 1690 responds. Will she bounce up? or south?

scratching my head ..... er ..ugh ... that's what I am also asking ...!!

awww man, my microphone aint working....!

Thanks, Beeb!

This was a nice hit on daily GSR Median. Some forks are working, really. Watched Paul's webinar yesterday, lot more nuances gathered plus patience needed.

Lest assume silver goes down now, but is it revisiting (GSR ) median or not, I am not sure now as this fork does not tell it. But nice anyway. GSR is good that it takes both silver and gold into account, so might be more predictable? GSR can also no go up by gold adding with silver more or less static as gold lost ground yesterday, showing silver has more strength ( possibly).

http://img515.imageshack.us/img515/4...sthemedian.png

Oanda is looking at my papers but at least it was possible to send them as scanned copies. No letters. Lest see if I get account soon as for this shorter term fork usage the costs of trade are very important, and Oanda is not so bad there. Also, it allows to trade GSR= XAU/XAG directly which might be interesting as well.

This is a dip for XAG/USD and XAU/USD in one day.

Bounced up from 1665 earlier just now...waiting for double tap?

Looks like we might be about to break the resistance on SLV..

Enjoy the ride till 1500 - 1570, silver 27 in six months.

asking

beeb do you think this fork will work ??

Silver