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

  • #23,961
  • Jul 21, 2013 2:15pm Jul 21, 2013 2:15pm
Looks to me that gold is looking to break 1300 at least. Its lingering around this area which usually points to a breakout north. The 1350ish area looks to be the ceiling, based on the breakout down on June the 20th. I guess we will see how it reacts at that level.
  • #23,962
  • Jul 22, 2013 2:51am Jul 22, 2013 2:51am
Gold made a breakout today. Next Resistance zone not far away.
Attached Image (click to enlarge)
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  • #23,963
  • Jul 22, 2013 11:05am Jul 22, 2013 11:05am
In my H4 chart, nearest resistance is the 1337-1351 zone.

Above that, 1359-1378 zone is next resistance.

Reasons are these:
D1 is still bearish. Until the break of 1395 which is Pivot High that led to Lowest Low.
Price rise is shallow compared to previous more aggressive drop.

1337-1351:
1337 is SL @ 05/20/2013 and is untested.
1339-1349 is a supply zone in H4 and H1. DBD. Big drop. Untested.

1359-1378:
RBD. Drop from 1371 in H4, but previous low is @ 1359. Untested.
  • #23,964
  • Jul 22, 2013 1:09pm Jul 22, 2013 1:09pm
* gasp ! *
  • #23,965
  • Jul 22, 2013 9:02pm Jul 22, 2013 9:02pm
Quoting SunTrader
I think recent support (Apr'13) $1320 is now resistance, boll band is tightening and Gann level around $1346 will be formidable obstacles to get through: {image}
What will it take to declare a trend change?

I have been kicking myself for not staying long from 1200, but know deep down it was the smart and conservative move (staying long was pure speculation at that point).
  • #23,966
  • Jul 22, 2013 9:09pm Jul 22, 2013 9:09pm
Quoting SunTrader
{quote} Maybe somewhere above 1350. Need to give it some more time though. {image}
I realize you already said 1350 in this post, but as price continues to tick up with consistently higher lows, I am thinking it may be getting close. Waiting for an appropriate entry if this holds up.
  • #23,967
  • Jul 23, 2013 2:48am Jul 23, 2013 2:48am
Waiting for a retest on 1324 and rentry for a second long.
First trade is still on and $47 into profit already.

Attached Image (click to enlarge)
Click to Enlarge Name: Gold H4.JPG Size: 107 KB


Danny
  • #23,968
  • Jul 23, 2013 3:24am Jul 23, 2013 3:24am
Gold has room to rise higher. Currently in Resistance zone indicated yesterday.
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  • #23,969
  • Jul 23, 2013 8:36am Jul 23, 2013 8:36am
HEY YALL!!!!!!!!!!!!!!!!!!

BEEN on a bit of a hiatus for a bit some moving and vacation!

Cant believe that massive drop but don't fear!!!!!

We are already correcting nicely and BACK INTO THE 1300s!

I suppose at some point it was inevitable that there would be a correction south after a lagging attempt to break
from 17 to 1800.

YET I REMAIN BULLISH GOLD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,970
  • Jul 23, 2013 8:38am Jul 23, 2013 8:38am
Nice to see some old buddies are still posting!

AND WELCOME all to the new members!

Remember to read the rules in the first post which should still be on my sig or simply GO to post no. 1

Luck to You all!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,971
  • Jul 23, 2013 8:39am Jul 23, 2013 8:39am
Quoting Scalptastic
Gold has room to rise higher. Currently in Resistance zone indicated yesterday. {image}

Agreed - nice simple chart. it is clear that 1370 will be KEY resistance to CRUSH!

If all goes well it would appear we may correct to an area close to your line then bounce north in an attempt to

take out aforementioned resistance area.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,972
  • Jul 23, 2013 8:47am Jul 23, 2013 8:47am
Quoting SunTrader
Xtrade where ever you are - you are needed to police these baseless, idiotic calls.

HEY BUDDY I AM BACK!!!!!!!!!!!!!!!!!!!

PM me with info!

TO ALL NOOBS READ THE RULES!!!

Here I will even make it simple,

POST NUMBER ONE CLICK HERE
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,973
  • Jul 23, 2013 8:49am Jul 23, 2013 8:49am
People NEED to understand that trading and or investing in GOLD and SILVER / PT PD, IS NOT A GAME FOR THE FAINT OF HEART!

THERE ARE GOOD DAYS / MONTHS and BAD DAYS >MONTHS!

IT IS ESSENTIALLY A ROLLERCOASTER RIDE.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,974
  • Jul 23, 2013 9:00am Jul 23, 2013 9:00am
Quoting XTrade
People NEED to understand that trading and or investing in GOLD and SILVER / PT PD, IS NOT A GAME FOR THE FAINT OF HEART! THERE ARE GOOD DAYS / MONTHS and BAD DAYS >MONTHS! IT IS ESSENTIALLY A ROLLERCOASTER RIDE.
Welcome back X, you have been missed around here
  • #23,975
  • Jul 23, 2013 9:45am Jul 23, 2013 9:45am
Quoting XTrade
Nice to see some old buddies are still posting! AND WELCOME all to the new members! Remember to read the rules in the first post which should still be on my sig or simply GO to post no. 1 Luck to You all!

I just started paying attention to the XAU/USD pair a could of weeks ago. I look forward to learn from your post along with more experienced gold traders.

I hope to see some posts about the fundamentals as well. I have recently learned that India buys tons of gold. I mean metric tons as well. lol I never knew that before. No wonder they have a movie called "Slum dog Millionaire."
Luck has no place in trading. Leave that for the poker table.
  • #23,976
  • Jul 23, 2013 9:47am Jul 23, 2013 9:47am
Quoting XTrade
{quote} Agreed - nice simple chart. it is clear that 1370 will be KEY resistance to CRUSH! If all goes well it would appear we may correct to an area close to your line then bounce north in an attempt to take out aforementioned resistance area.

When you say CRUSH, do you mean it will crush up past 1370 or that 1370 will be strong resistance. On my chart, I see that gold has the potential to hit 1400 if it gets past 1350 with some power. But again, I am new to Xau/Usd... so I am probably totally wrong.
Luck has no place in trading. Leave that for the poker table.
  • #23,977
  • Jul 23, 2013 10:24am Jul 23, 2013 10:24am
Quoting Pair-me-up
{quote} When you say CRUSH, do you mean it will crush up past 1370 or that 1370 will be strong resistance. On my chart, I see that gold has the potential to hit 1400 if it gets past 1350 with some power. But again, I am new to Xau/Usd... so I am probably totally wrong.

Actually you are in fact very correct and i agree with you ---since I remain bullish and 1050 was not tested nor broken I thus am a bull long term.
many disagree and many will lose money.

What i mean by crush is that we need to breach or break or CRUSH the firm resistance line that you can see on the earlier posted chart.

No need to even draw a line it was support it broke and now therefore it is now resistance.

With some power through 1350 we should be able to break 1370 with no problem a 20 dollar move is nothing in a powerful day. = 1350 thru 1370

there was discussion on "betting on gold on cnbc earlier -- noobs should watch any channel of preference about finance stocks commods and read a lot.

EVEN JUST READ THE ENTIRE THREAD!!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,978
  • Jul 23, 2013 10:28am Jul 23, 2013 10:28am
Quoting Pair-me-up
{quote} I just started paying attention to the XAU/USD pair a could of weeks ago. I look forward to learn from your post along with more experienced gold traders. I hope to see some posts about the fundamentals as well. I have recently learned that India buys tons of gold. I mean metric tons as well. lol I never knew that before. No wonder they have a movie called "Slum dog Millionaire."

India is a major Gold buyer and investor. The driving factor is jewelry. Do some research about Indian wedding seasons / gold traders & vendors / investing and how far up on the chain of countries that have the largest gold reserves. if I remember correctly they are in the top 10 but don't """ me on that gold changes ownership daily even if it sits in another countries vault they just switch the tags on the skids and do shit loads of computer and paperwork.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,979
  • Jul 23, 2013 10:29am Jul 23, 2013 10:29am
Quoting split_unit
{quote} Welcome back X, you have been missed around here

HEY BUDDDY SPLIT!!!!

I am happy to see you are still hear and with 5 vouchers!!!!

I will visit your thread later!

XT
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #23,980
  • Jul 23, 2013 10:39am Jul 23, 2013 10:39am
Quoting XTrade
{quote} Actually you are in fact very correct and i agree with you ---since I remain bullish and 1050 was not tested nor broken I thus am a bull long term. many disagree and many will lose money. What i mean by crush is that we need to breach or break or CRUSH the firm resistance line that you can see on the earlier posted chart. No need to even draw a line it was support it broke and now therefore it is now resistance. With some power through 1350 we should be able to break 1370 with no problem a 20 dollar move is nothing in a powerful day. = 1350...

Thanks for your great response! Thanks for pointing the part about Indian weddings. I think I read something about them buying gold for cultural reasons, but I didn't know so much of the details. I would love to get 20 moves on gold 5 days a week. My wife could add to her shoe collection.. lol
Luck has no place in trading. Leave that for the poker table.
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