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

  • #24,121
  • Jul 29, 2013 9:46am Jul 29, 2013 9:46am
We need to take out 1350, if this resistance is broken the price may easily move above 1400.

Here are some links. some is what I just said except I don't get paid!



Where are the Stops? - Monday, July 29: Gold and Silver


@ Pair me up I think it was you asking about India. This is a good read.



Gold Premiums in India Double as Supplies Decline on Curbs

Techs




Technical Trading: Minor Gold Uptrend Intact, But Event Risk Is High This Week
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,122
  • Jul 29, 2013 10:08am Jul 29, 2013 10:08am
Still tender times and a lot of news out this week.
Even if you don't like or read news it is foolish to place trades without at least knowing what may occur that day.

always take a look here right on Fx Factory Calendar

We have FOMC and US unemployment as majors amongst various other mid importance releases.

Lets take a look at the daily. Daily is a bit more confused. Price is still subject to downtrend. and Has been getting swatted at the 50 day.
a cross of the three on the daily 50 100 200, would certainly be bullish but could take weeks.
Thus, looking at multiple time frames helps to identify potential trend changes. H4 Looks good -

I put more simple support and resistance areas just by eying the price and the re-action.

In the second chart I pulled fibs just to see where they would end up from my high on the chart to my low (swings) - look at how close they are;...

amazing. Notice in CHART ONE how the SMAs line up with the resistances??....

Price has managed to CLOSE ABOVE The 50 day sma.... So..... We wait. if you are aggressive I would already be long.
if you are short I suppose you could still hold and wait but I would have covered most @ 1200.
For swing / day traders. For positioning we would need to look at daily and weekly.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,123
  • Jul 29, 2013 10:15am Jul 29, 2013 10:15am
Quoting KADC
{quote} ...............:Here's what the US$ Index vs Gold comparison looks like graphically over 18 years (furthers back I can chart), 4 years, and 4 months. (US$ is the green line) 18 years
I put a Link to this post in post one FOR reference.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,124
  • Jul 29, 2013 10:45am Jul 29, 2013 10:45am
Platinum Up 14 BUX --- PD up as well.. AU AG slumping still in the red slightly.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,125
  • Jul 29, 2013 1:23pm Jul 29, 2013 1:23pm
weak MACD ?

gap not filled
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  • #24,126
  • Jul 29, 2013 1:27pm Jul 29, 2013 1:27pm
If anyone is trading SILVER and want's analysis just say so.

I will post it or someone else will.

Right now Silver is the red headed step child it has been to gold. Just following.

The PGMs are up today again.

I wouldn't be surprised to see PT crack 1500.

Also I see that there are not many noobs here. Thus, my posts and discussion will differ.

I would like to see more posting / analysis / arguments even
not to call you guys out but!

Here we go.

SunTrader. Where ARE YOU!!!
Bemac? Do you still exist? Are you alive? PLEASE SAY SOMETHING!!
KADC- Already posting again through the storm. Many thanx
Pair Me up? I think it is? Post more. I think you said you were new to gold. don't be shy.
The Archer- Come and go is fine- please more analysis. THX!!!!!!!
BEEB - send s posts. Keep SENDING ME!
Wheels - Great job. Keep POSTING. anything......
Cath S- HELLOOOO?? U there Gal?
Otherwise this thread is going to get very technical and very News driven very quickly.

Any EW posters ARE WELCOME.
There is no discrimination here. Just please look at post one.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,127
  • Jul 29, 2013 1:27pm Jul 29, 2013 1:27pm
Quoting TheArcher
weak MACD ? gap not filled {image}
Archer you are now added to the list of people that need to post more.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,128
  • Jul 29, 2013 1:31pm Jul 29, 2013 1:31pm
Quoting TheArcher
weak MACD ? gap not filled {image}
I noticed this GAP on the daily and was a bit concerned, there are some gaps that never get filled.
So, we might take the liberty of assuming "which i don't like to" That it is not.

Yet, if the price remains trapped on the daily there is a good possibility that there will be a smackdown to fill the gap.
AND I AM POSITIVE there are RESTING buy / stops there. So . depends on your time frame.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,129
  • Jul 29, 2013 1:37pm Jul 29, 2013 1:37pm
Quoting XTrade
If anyone is trading SILVER and want's analysis just say so. I will post it or someone else will. Right now Silver is the red headed step child it has been to gold. Just following. The PGMs are up today again. I wouldn't be surprised to see PT crack 1500. Also I see that there are not many noobs here. Thus, my posts and discussion will differ. I would like to see more posting / analysis / arguments even not to call you guys out but! Here we go. SunTrader. Where ARE YOU!!! Bemac? Do you still exist? Are you alive? PLEASE SAY SOMETHING!! KADC-...

Today noticed gold strength.. at the same time, some of the indexes such as the Dax Cax, FTSE, etc were gaining points while the Euro and the Aussie were going down harder next to the US dollar. So, that told me that gold was being bought out. Just before the London close, gold went down a bit with hardly any resistance. My guestimate is that with Kuroda speaking during the asian session that if gold were to take a hit, then big money would be better to close positions before the asian session, thus the sudden sell off just before London close.. Then a again.. I am only making a questimate based on PA.
Luck has no place in trading. Leave that for the poker table.
  • #24,130
  • Jul 29, 2013 1:44pm Jul 29, 2013 1:44pm
Quoting TheArcher
weak MACD ? gap not filled
No gap on any of my charts:
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  • #24,131
  • Jul 29, 2013 1:47pm Jul 29, 2013 1:47pm
I don't have any gaps on any of my charts as well.


I am getting a strong minor resistance area of 1322.74 and then 1315.00 below that. Anyone else getting these levels?
Luck has no place in trading. Leave that for the poker table.
  • #24,132
  • Jul 29, 2013 1:47pm Jul 29, 2013 1:47pm
Quoting Pair-me-up
Today noticed gold strength...
Think the week will meander along till Friday's NFP monthly report.

Also before that there is FOMC on Wednesday.
  • #24,133
  • Jul 29, 2013 1:48pm Jul 29, 2013 1:48pm
Quoting SunTrader
{quote} No gap on any of my charts: {image}
Hmm, you are correct. It is only with candlesticks and FX brokers I suppose there is a gap....

When I use LINE charts, Everything is more clear and simple....

THX Sun.

XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,134
  • Jul 29, 2013 1:49pm Jul 29, 2013 1:49pm
Quoting Pair-me-up
I don't have any gaps on any of my charts as well. I am getting a strong minor resistance area of 1322.74 and then 1315.00 below that. Anyone else getting these levels?

1350 is the zone we need to crack to move into 1400
There is usually always support @ 10 or 20 USD above the BIG ROUND NUMBER or BRN of 1300. which is really just a pshyc level.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,135
  • Jul 29, 2013 1:58pm Jul 29, 2013 1:58pm
Quoting SunTrader
{quote} Think the week will meander along till Friday's NFP monthly report. Also before that there is FOMC on Wednesday.

AGREED! Price did next to nothing today.... A ten buck swing down in AussieAsia then back into the 30's so...

Nothing will really happen until news comes out.

Now I look at the techs and want to see the Upward TL respected.

Even if it dips on anticipation selling and the news sucks she could rise 50 Bucks depending on report.......

We will see!


Thanks Sun , for posting.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,136
  • Jul 29, 2013 2:07pm Jul 29, 2013 2:07pm
Quoting XTrade
{quote} AGREED! Price did next to nothing today.... A ten buck swing down in AussieAsia then back into the 30's so... Nothing will really happen until news comes out. Now I look at the techs and want to see the Upward TL respected. Even if it dips on anticipation selling and the news sucks she could rise 50 Bucks depending on report....... We will see! Thanks Sun , for posting.

Xtrade... you might be interested in this site.. http://www.xe.com/ It actually has charts that show the weekend rates, etc. The market never truly closes.
Luck has no place in trading. Leave that for the poker table.
  • #24,137
  • Jul 29, 2013 2:11pm Jul 29, 2013 2:11pm
Great! Seems like we have a Good discussion going on here now.

If there are any issues and I am not around PM me I will get an email
or contact Sun or KADC.

Let's start rocking and rolling!

I hate scalping but, my positions are firm and I don't like the uncertainty in the market.
so day trading/ scalping is easy. Positioning and holding the rollercoaster to me is the hardest.

I suppose that's where I NEED to separate my Investor from trader.....

LUCK TO ALL !!!!!!!! Glad to see some OLD and New faces!

@ Split Unit - Please feel free to post any GLD or Miner related stocks in this thread buddy!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,138
  • Jul 29, 2013 2:13pm Jul 29, 2013 2:13pm
Quoting Pair-me-up
{quote} Xtrade... you might be interested in this site.. http://www.xe.com/ It actually has charts that show the weekend rates, etc. The market never truly closes.

Thanks I will take a look. Yes that's why I have sleep issues. I was checking all night on iPod..... Till' I finally gave out. I knew NY wouldn't do much besides repair the price.

DID YOU READ MY PM?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,139
  • Jul 29, 2013 2:21pm Jul 29, 2013 2:21pm
hi all .
on 4h silver chart we haved some bullish signal ( some candle above 200SMA ) but not cofirmed by 8h chart . Only if PA will be above 200SMA on both charts then we could expect a trend chancge .
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Price itself it's an indicator
  • #24,140
  • Jul 29, 2013 2:24pm Jul 29, 2013 2:24pm
Quoting XTrade
{quote} Thanks I will take a look. Yes that's why I have sleep issues. I was checking all night on iPod..... Till' I finally gave out. I knew NY wouldn't do much besides repair the price. DID YOU READ MY PM?

I hear you about the sleep. I live in Asia and I should be asleep.. lol One thing that I have noticed about gold. It seems to follow some of the candlestick patterns better than other equities that I have seen. My theory for this, is that they love to buy and sell gold here in Asia.. and that the Japanese candlesticks are an Asian method to read the PA that might be well known here in Asia.


Sometimes, there are a few t.v. channels here where some guy is explaining TA on some chart. Also, I noticed that Head and shoulders and ascending and descending triangles are respected most of the time on the xau/usd pair.

Am I wrong?
Luck has no place in trading. Leave that for the poker table.
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