DislikedIt's been a long time since I tried to get a grip on EW theory and failed.
I may be wrong but i believe that wave 4 should not have gone higher than the bottom of wave 1.
That would mean that you would have to re-label 3 as 1 and 4 as 2.
Like I say, I'm not sure as it was a long time ago that I tried EW theory.Ignored
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #23,084
- Mar 15, 2013 1:21am Mar 15, 2013 1:21am
- Joined Oct 2012 | Status: Trader | 1,959 Posts
Gumrai please dont spam this thread with charts every hour and comments to your personal trading. It's a little bit too much....open your own thread if you want to do some monologues...
In my opinion gold will rise up in long term, little corrections to the downside are just normal at this high level 1.600 - 2.000.
Happy trading!
I posted a few charts initially, yesterday I posted 1, that's hardly every hour now, is it?
Don't worry, I will not be posting many charts in future, but if I do, I will post more than
"In my opinion gold will rise up in long term, little corrections to the downside are just normal at this high level 1.600 - 2.000."
Happy trading to you too
Please Do Not PM Me With Coding Enquiries
- #23,085
- Mar 15, 2013 1:36am Mar 15, 2013 1:36am
...Same conclusion from daily GSR chart- continues down with a bottom close to the end of March-may be early April (NFP). Or not...
You can always make money tomorrow provided you don't lose it today.
- #23,086
- Mar 15, 2013 3:49am Mar 15, 2013 3:49am
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
- #23,087
- Mar 15, 2013 3:49am Mar 15, 2013 3:49am
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
no spamming intended as i am not selling anything.
I posted a few charts initially, yesterday i posted 1, that's hardly every hour now, is it?
Don't worry, i will not be posting many charts in future, but if i do, i will post more than
i will also include any reasoning behind my opinion, including charts
happy trading to you too
are you the same gumrai that posts on trade2win forums ?
- #23,088
- Mar 15, 2013 4:00am Mar 15, 2013 4:00am
- Joined Oct 2012 | Status: Trader | 1,959 Posts
Please Do Not PM Me With Coding Enquiries
- #23,090
- Mar 15, 2013 7:21am Mar 15, 2013 7:21am
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
- #23,091
- Mar 15, 2013 10:31am Mar 15, 2013 10:31am
hello everyone,
this is my first message on this forum.
and this is my first question:
Will we see 26 dollars on silver? I sold my silvers at 34,5 and never buought again. I'm still waiting the bottom with patience for long term trading.
Now euro/usd is high near to 1,307.gold is far away from 1530. today us dollar index dropped % 0,7 but silver and gold could not jump upwards. Do you think we will see 1,26 on euro/usd, and 26 on silver? or am I loosing buy opportunity? I did not buy on 27,9, now it's 28,9
I think that before silver starts to fly, it must spend some weeks between 26-29 as it did in may 2012. so if silver kg goes 900dollars, I will buy some. What is your plan?
I heard on tv that there is bernanke's speech at 20 march. is that true? I could not see it on economic calendar.
this is my first message on this forum.
and this is my first question:
Will we see 26 dollars on silver? I sold my silvers at 34,5 and never buought again. I'm still waiting the bottom with patience for long term trading.
Now euro/usd is high near to 1,307.gold is far away from 1530. today us dollar index dropped % 0,7 but silver and gold could not jump upwards. Do you think we will see 1,26 on euro/usd, and 26 on silver? or am I loosing buy opportunity? I did not buy on 27,9, now it's 28,9
I think that before silver starts to fly, it must spend some weeks between 26-29 as it did in may 2012. so if silver kg goes 900dollars, I will buy some. What is your plan?I heard on tv that there is bernanke's speech at 20 march.
is that true? I could not see it on economic calendar.
- #23,094
- Mar 15, 2013 5:06pm Mar 15, 2013 5:06pm
- Joined Oct 2012 | Status: Trader | 1,959 Posts
Hello Follow traders,
I need little advice in terms of short term and long term gold trends as per my little work I see that gold is shifting its trend from sell to buy... recent downward rallies were very quick and gold spiked back to ward 1580 and +. well i almost seems like missed the opportunity for buying at 156x... but any one here can guide me if gold goes down is there any probability that it might go down to 1560s or 1570s ? where I can put a medium term or long term buy ? besides what will be the factors i should be considering over all...
It's been a difficult market so far this month, ranging. then a break to the upside, and seems to have moved straight into another range.
The 1600 psychological level is proving to be a hard level for the bulls to break
Looking at the chart...
1. Price went down to 1600 level (support) and bounced straight up again. The next time that the bears tested this level, they found no interest from the bulls. Probably bulls that were currently in the market were covering their losing positions adding to the selling pressure. With the bulls collapsing and the break to the downside, more bears jumped on board and created a sharp downtrend.
2. The 1600 level was tested as resistance and held
3. Price pierced the level but backed off and the candle closed below its open. Bears would see this as a good signal to enter the market
4. Bears were caught out as bulls applied buying pressure and the move up was fueled by bears closing their losing positions. Sudden move up was stopped just as suddenly as there were no more buyers and bears came back into the market. We don't know why the market turned here, we only know that it did. With the sudden move stopped so abruptly, it is fair to assume that the high of candle 4 may prove to be an important level in future.
5 & 6. Mediocre support. Probably bulls that got into the market while candle 4 was moving up are now holding losing positions and have no appetite to buy more. When market moves down at 6, clears out the bulls' stops and bears take control.
7. Market stops without making a new low and then ranges
8. Break up from the range, but immediately stopped at the 1600 level. 6 candles later, price tries to break the level once again and is strongly rejected, forming a double top.
9. Bears manage to push the price down and halfway into the previous ranging zone. Bulls came in and pushed the market back up again, so the candle closed higher than its open. With the long lower shadow, this is a good bullish signal.
Once again, price tested the 1600 level. Both bulls and bears will be aware of the double top and previous reactions at this level, so bulls will be taking profits and bears looking to sell rejection.
So, in my opinion, the market is more bullish than bearish currently, but it is probably safer to wait until there is a break up of the 1600 level. Be aware that there may be resistance at around 1620 (top of candle 4).
This is just my opinion and how I am currently looking at the market, in case anyone is interested. It is not intended as any sort of trading advice. The market will do what it will and usually proves me to be wrong
Please Do Not PM Me With Coding Enquiries
- #23,097
- Mar 17, 2013 9:15am Mar 17, 2013 9:15am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts