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

  • #24,321
  • Aug 12, 2013 11:41am Aug 12, 2013 11:41am
GOLD UPDATE: Gold Extends Gains As Buy Stops Hit, Triggering More Technical Buying

Monday August 12, 2013 9:35 AM

(Kitco News) - Gold and silver market bulls are strong out of the gate to start the new trading week Monday. In mid-morning U.S. dealings both markets have extended their gains. December Comex gold saw buy stops triggered as prices moved above near-term technical resistance levels, to trigger more technical buying interest. If December gold prices can push above solid chart resistance at the $1,350.00 level, more buy stops would be triggered that could sharply extend the present price gains. December gold last traded up $27.30 an ounce at $1,339.60.

by Jim Wyckoff
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,322
  • Aug 12, 2013 11:43am Aug 12, 2013 11:43am
Quoting TheArcher
{quote} overlooked the candles .... thanks for pointing out the candles ... your analysis panned out .... {image}

NP.
That bullish hammer followed by another huge daily bar looked good on the daily as a potential reversal, then another smaller hammer, with no downside pressure.
things may be heating up now..!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,323
  • Aug 12, 2013 3:49pm Aug 12, 2013 3:49pm
Quoting TheArcher
{quote} puzzled ... !!! ? is the image a chart ... ? i see an image of back streets of Hong Kong or Macau or something like that !!
you didnt see... ok, İ have drawn chart for you...
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  • #24,324
  • Aug 13, 2013 12:22am Aug 13, 2013 12:22am
Quoting prototip
{quote} you didnt see... ok, İ have drawn chart for you... {image}
ok ... i am dumb wit .....

my pea brain says you are trying to say that it must be a range play .....

caveat emptor
  • #24,325
  • Aug 13, 2013 2:16am Aug 13, 2013 2:16am
Quoting Scalptastic
{quote} Resistance held on Firday but I would have liked more downside. Today there was a gap and resistance zone is now support level. If we manage to break above 1338-1346.89 Resistance zone then there should be another major leg up before downside. {image}

I think 1338-1346 Resistance zone will hold today. However I am a bit cautious and suggest to keep an eye on price action. If I go short I will do it with tight stops.
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  • #24,326
  • Aug 13, 2013 7:57am Aug 13, 2013 7:57am
Not a lot of action on this forum. Did anyone else pick up some pips on the 8:30am ( US ) Core Retail Sales m/m numbers?
It went fast but I picked some positive numbers...

Anyone here brave enough to trade silver? My broker spread is typically 15-20 pips... That's a hefty charge unless the action is moving like a freight train...
  • #24,327
  • Aug 13, 2013 11:29am Aug 13, 2013 11:29am
Quoting PROstrength
Not a lot of action on this forum. Did anyone else pick up some pips on the 8:30am ( US ) Core Retail Sales m/m numbers? It went fast but I picked some positive numbers... Anyone here brave enough to trade silver? My broker spread is typically 15-20 pips... That's a hefty charge unless the action is moving like a freight train...
Assuming "a pip" is a cent suggest you try another broker ........
  • #24,328
  • Aug 13, 2013 11:30am Aug 13, 2013 11:30am
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  • #24,329
  • Aug 13, 2013 3:26pm Aug 13, 2013 3:26pm
Quoting TheArcher
{image}

Good NOW GAP is closed. so likely forgotten, true test will be the weekly close.




-----------------------------------------------------------------------------------------------XT
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,330
  • Aug 13, 2013 3:46pm Aug 13, 2013 3:46pm
Quoting prototip
{quote} never... {image}

Dude,

Time you might take a few days to think about the CRAP, Useless, EMOTICONS,

YOU,

POST HERE,

THX,
Take a vacation then see if you want to be back here, You will get a chance. Use it wisely.
NEXT TUESDAY.

Till' then look at your old posts and see if they had ANY use besides trolling,

Sorry mate,
READ POST ONE.

THANKS.
The MANAGEMENT (Meaning NOT JUST ME)
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,331
  • Aug 13, 2013 10:05pm Aug 13, 2013 10:05pm
It's OK that does NOT MEAN other people cannot post!!!!

Yikes!

Relax.

In any case looks like any "gap" has been filled in good order,

AND looking to close the week out on a high.

buy low, sell high. Simplest of all economic prophecies.

Set range and it's easy.

Night.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,332
  • Aug 13, 2013 10:06pm Aug 13, 2013 10:06pm
Yes, testing the break line, always expected after broken support with AU/ AG.

thanks!

XT


Quoting TheArcher
{image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,333
  • Aug 13, 2013 10:12pm Aug 13, 2013 10:12pm
This forum is here to suit ALL metals traders.

Wanna throw out calls and scalp with me for a day head to head?

No Problem,

Yet, since I mostly trade GOLD long term ie: daily weekly etc.

I don't post my entries and exits to every 5 to 20 USD measly scalp.

This is not interesting.

Yet the floor is yours. Go find another thread to post in if you don't like it here.
OR PUT YOUR MONEY WHERE URE MOUTH IS AND make A CALL with a CHART or a FUNDAMENTAL or NEWS
Driven REASON. STICK TO IT, POST IT AND POST THE RESULTS.

Otherwise...



U have a chance let's see what you do.


Quoting PROstrength
Not a lot of action on this forum. Did anyone else pick up some pips on the 8:30am ( US ) Core Retail Sales m/m numbers? It went fast but I picked some positive numbers... Anyone here brave enough to trade silver? My broker spread is typically 15-20 pips... That's a hefty charge unless the action is moving like a freight train...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,334
  • Aug 13, 2013 10:25pm Aug 13, 2013 10:25pm
bit of likely call here for gold to test the weeks entry low and close some chart gaps.

Futures don't GAP like SPOT because they move far slower. Spot, means NOW or "on the spot"

Thus. we have gaps.

In any case, glad to see it closed, would prefer to see a beaten new high this week,
yet.
we are still in August so I'll take it next week all the same..


;p
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,335
  • Aug 13, 2013 10:34pm Aug 13, 2013 10:34pm
Quoting XTrade
bit of likely call here for gold to test the weeks entry low and close some chart gaps. Futures don't GAP like SPOT because they move far slower. Spot, means NOW or "on the spot" Thus. we have gaps. In any case, glad to see it closed, would prefer to see a beaten new high this week, yet. we are still in August so I'll take it next week all the same.. ;p {image}
I am feeling mixed. As someone who enjoys dabbling in trading, I am tempted for a long anywhere sub-1300 and see (long term chart) fib resistance at 1280 as strong. Still waiting to hear about Septapering as this could give us a nice knock down as low as 1080. I would be in for the LONG haul at this level.

I am not forecasting tapering or speculating that price will dip. Just staying at the sidelines until I feel it is probable that an uptrend is underway.
  • #24,336
  • Aug 14, 2013 1:03am Aug 14, 2013 1:03am
Not gold or silver specific, but a good article about being wary of letting emotions get overtake reason when trading.

http://newtraderu.com/?p=4521
You can always make money tomorrow provided you don't lose it today.
  • #24,337
  • Aug 14, 2013 2:33am Aug 14, 2013 2:33am
Quoting Scalptastic
{quote} I think 1338-1346 Resistance zone will hold today. However I am a bit cautious and suggest to keep an eye on price action. If I go short I will do it with tight stops. {image}

Price action nicely rejected the Resistance zone. Gap we had on Monday is also filled now. 1314 is now support level. I would be more confident to try small long from 1306
  • #24,338
  • Aug 14, 2013 4:22am Aug 14, 2013 4:22am
Quoting KADC
Not gold or silver specific, but a good article about being wary of letting emotions get overtake reason when trading. http://newtraderu.com/?p=4521
Thanks for the share KADC. I know someone that it might help.
  • #24,339
  • Aug 14, 2013 5:44am Aug 14, 2013 5:44am
Quoting KADC
Not gold or silver specific, but a good article about being wary of letting emotions get overtake reason when trading. http://newtraderu.com/?p=4521
add to that :

to avoid all those emotions or at least minimise them ,

first and foremost , know thyself :

are u doing this part-time , full time , for fun , or for quick returns , to show off that u are most learned , or to impress ur colleauges, parents, siblings ,girlfriends etc, , or need money to pay off debts, pay rent, water and electricity bills , how much u are willing to lose , are u still able to float after losing the sum of money , do u have regular income , even after a lose are u still able to buy the milk powder for ur baby .... etc etc .....

only then you could side step all the mentioned emotions .....

sages, oracles , hermits , wisemen, prophets ...... correct me if i am wrong !

yours most humbly
  • #24,340
  • Aug 14, 2013 9:17am Aug 14, 2013 9:17am
Hi all . I think now we have a trend change . On 4h Silver chart we have some bullish signal ( some candle above 200SMA ) and also on 8h chart . For me this is the time when I lead the market to judge me if I'm wrong or no . ( I'm not a native english speaker so excuse me) .
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Price itself it's an indicator
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