XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1222 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD, Silver/USD

Similar Threads

Gold futures & XAU 78 replies

GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies

Daytrade - XAU/USD & XAG/USD 14 replies

XAU/JPY & XAG/JPY 13 replies

Successful XAU/USD traders 7 replies

Attachments: XAU/USD & XAG/USD - Gold & Silver Traders Thread
Exit Attachments

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

  • #24,421
  • Aug 19, 2013 2:34am Aug 19, 2013 2:34am
Quoting Scalptastic
{quote} If we are unable to break through 1346-1338 resistance zone then I think we will move lower than 1314 {image}

Looking price action in 1370-1364 support zone. Would be more confident to try a long positon from 1346 - 1338 zone.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.JPG Size: 38 KB
  • #24,422
  • Aug 19, 2013 4:27am Aug 19, 2013 4:27am
Quoting Scalptastic
{quote} Looking price action in 1370-1364 support zone. Would be more confident to try a long positon from 1346 - 1338 zone. {image}
asking you once again - where do your 1364-70 ish horizontals originate from? thanks
  • #24,423
  • Aug 19, 2013 4:34am Aug 19, 2013 4:34am
Quoting cg uno
{quote} asking you once again - where do your 1364-70 ish horizontals originate from? thanks

Candle formations from 4hr or daily chart.
  • #24,424
  • Aug 19, 2013 4:36am Aug 19, 2013 4:36am
Quoting Scalptastic
{quote} Candle formations from 4hr or daily chart.
???? previous highs or lows? can you show them?

at the moment they're just lines on a chart without a visible origin and i therefore have no way of assessing their validity or otherwise ......

thanks
  • #24,425
  • Aug 19, 2013 4:46am Aug 19, 2013 4:46am
Quoting cg uno
{quote} ???? previous highs or lows? can you show them? at the moment they're just lines on a chart without a visible origin and i therefore have no way of assessing their validity or otherwise ...... thanks

Sent you a message
  • #24,426
  • Aug 19, 2013 8:23am Aug 19, 2013 8:23am
Quoting trexy123
{quote} The bear trend is over?????
Goldbugs think so:
  • #24,427
  • Aug 19, 2013 10:10am Aug 19, 2013 10:10am
Quoting trexy123
{quote} The bear trend is over?????
The decline to 1180 / 1200 area from a ranging price that failed to retake 1800/1750 area hit a strong uptrend line from roughly 2005.

The uptrend weekly channel origin 2008 was broken along with the lower uptrend line.
Then price began to free fall and correct after creating a new all time high @ 1900+

I have to run out but will post a chart which will make this more clear.

Since the 1180 low gold has added 200 USD with a new weekly high appx 1380, so shorter term the trend is up.

Mid term we are still vulnerable to downside pressure after continued gains.

Long term price remains up.

take a look at a weekly.


Here is a very quick one.
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 1.png Size: 173 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,428
  • Edited 11:36am Aug 19, 2013 11:23am | Edited 11:36am
.
Attached Image (click to enlarge)
Click to Enlarge Name: gold1908B.png Size: 25 KB
  • #24,429
  • Aug 19, 2013 1:11pm Aug 19, 2013 1:11pm
Quoting XTrade
{quote} The decline to 1180 / 1200 area from a ranging price that failed to retake 1800/1750 area hit a strong uptrend line from roughly 2005. The uptrend weekly channel origin 2008 was broken along with the lower uptrend line. Then price began to free fall and correct after creating a new all time high @ 1900+ I have to run out but will post a chart which will make this more clear. Since the 1180 low gold has added 200 USD with a new weekly high appx 1380, so shorter term the trend is up. Mid term we are still vulnerable to downside pressure after...
Very plain and complete analysis. As always. Thank you.
Quote
​
Per aspera ad astra
  • #24,430
  • Edited 2:09pm Aug 19, 2013 1:50pm | Edited 2:09pm
Quoting jpadvisor
{quote} Very plain and complete analysis. As always. Thank you. {quote}
Any time,

While I was out I was thinking about the recent gains and wanted to add this thought especially for new traders to ponder:

Rather than trying to get the best price or waking up every day and think, "what do I do sell or buy or both or hedge" which will likely end up in you losing more
money than winning
Try:
looking at trades as "week longs" or "3 day trades" then what you will begin to do is spend less time clicking the buy/sell button,
and more time actually THINKING, charting, reading and PLANNING what to do with the parameters of what "might" happen and what the chart/you are seeing
as the likely probability of happening. In turn you will KNOW where the support and resistance lines are, where the major TLs are, etc. you will know where stops
are resting and were they may be hunted, as well as set reasonable limits to take those profits!

If it sounds like a lot to memorize it is NOT. It just happens.

For instance.

You saw the dip to 1280 But said, I would feel "safer" buying above 1300 and seeing what happens on a retake of this level,
thus you set a buy order for 1303. It gets triggered and boom, the price makes a new high @ 1380+ last week.
So WHO CARES you didn't make the other 20 USD move from 1280 to 1300-
You just Netted an appx 80 USD move! Just by simple planning and chart observation AND A LITTLE PATIENCE!

So today is a bit down, well, as expected after a new high. Profits get taken and the price corrects a bit.
Yet, if you are long from 1300 is it easier to stay long in sight for the next major resistance? Knowing you are in profit 6000 pips or 60 USD above BE?
Or just get out, then wait for a retracement that may or not be worth the stress and time.
same goes for trading short.

Had I been short from 1750/80 and saw 1180 low, a 600 USD move over time, I would have flattened or covered my short.
Especially if a profitable trade begins to go against me over 100 USD of a move. Hence 1380.

Just some food for thought.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,431
  • Edited 2:40pm Aug 19, 2013 2:08pm | Edited 2:40pm
Where Are The Stops? - Monday, August 19: Gold And Silver

Monday August 19, 2013 09:20


Editor's Note: Introducing Kitco's latest addition to its industry-leading metals markets reports: Jim Wyckoff's "Where Are the Stops?" daily report. Professional traders have a very good idea of price levels at which buy and sell stop orders are located on a daily basis. And now you will, too! If pre-placed buy or sell stop order are triggered, bigger price moves.......................



Related reading content! Link in first LINE!

XT

Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,432
  • Aug 19, 2013 2:46pm Aug 19, 2013 2:46pm
1362 /60 not budging so far on Profit taking, if you wanted an entry off the 1380 high here is a potential 20 USD discount.

Use YOUR DISCRETION> Just pointing out the obvious.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,433
  • Aug 19, 2013 4:43pm Aug 19, 2013 4:43pm
Quoting XTrade
1362 /60 not budging so far on Profit taking, if you wanted an entry off the 1380 high here is a potential 20 USD discount. Use YOUR DISCRETION> Just pointing out the obvious.

Otherwise I will divulge the "SAFE" play,

wait until a test in the range of 1555 MID POINT AND CRUCIAL POINT 1550
with low @1444 to add some wiggle room.

If 1550 breaks and is tested and rejected to the NORTH,
then, we may go SOUTH.

Likewise,
If 1550 is tested and SUPPORT is RE-ESTABLISHED then we likely go NORTH.

Again Trade what YOU see and use correct leverage & lot size suitable to your account.


Tonight or tomorrow, when I have the Time I will BE POStiNG charts on RANGE,
How GOLD and SILVER move sideways, along with the all time HIGHs and how to identify where was a suitable sell point
along with re-entry points - totally disregarding fundamentals - ALTHOUGH I NEVER recommend this.

Using a few simple tools
Multiple Time Frames.
SMAs - Simple moving averages
Support and Resistance.

Hopefully adding some fundies.

This is a lot of work and may take a week + to complete.

Be patient.
Thanks,
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,434
  • Aug 19, 2013 4:45pm Aug 19, 2013 4:45pm
@ PROTOTIP YOUR BAN IS LIFTED NOW.
I would like to do it at midnight but cannot promise my presence then.

SO = if you want to be here you will.

And if not you know what to do to go away.
The choice is yours.

XTrade.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,435
  • Edited 1:15am Aug 20, 2013 12:52am | Edited 1:15am
volume not supporting the rise in price ? hence mini divergence ?

what will they think of next ? ...... soft landing at 1337 ?

Edit : no time to re-draw the lower uptrend line .... kindly make adjustments/re-draw the line to touch the lows
Attached Image (click to enlarge)
Click to Enlarge Name: gold2008.png Size: 23 KB
  • #24,436
  • Aug 20, 2013 1:29am Aug 20, 2013 1:29am
Quoting XTrade
Where Are The Stops? - Monday, August 19: Gold And Silver Monday August 19, 2013 09:20 Editor's Note: Introducing Kitco's latest addition to its industry-leading metals markets reports: Jim Wyckoff's "Where Are the Stops?" daily report. Professional traders have a very good idea of price levels at which buy and sell stop orders are located on a daily basis. And now you will, too! If pre-placed buy or sell stop order are triggered, bigger...
Hi XTrade . Thanks for the tip . My stop on silver was at 22.753 ( nearly the same as in the above table ) and was touched today . I can say I'm little upset because I only manage to make few dollars and my TP was not reached , but I'm not . Only take what the market offers you . Now I'm more confidence in my trading strategy because offers me good buying signals and stop lose .
Price itself it's an indicator
  • #24,437
  • Aug 20, 2013 2:18am Aug 20, 2013 2:18am
I will try a long with tight stop from previous resistance zone 1346-1338 if I get a proper signal.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.JPG Size: 42 KB
  • #24,438
  • Aug 20, 2013 3:32am Aug 20, 2013 3:32am
Hi, I'm long on gold from 1275, waiting for the next fibo level. You think after retracement we will see a new up leg ?
Per aspera ad astra
  • #24,439
  • Aug 20, 2013 4:18am Aug 20, 2013 4:18am
Archer, no time is right, it takes at the very least, TWO points to establish a somewhat valid "TL" or Trend Line.

As I have posted before a pullback or "retracement" to the 1350 zone to test the CRUSHED resistance was expected.

The more points connected on a TL up or down the more validity it has especially on LONGER time frames like the daily and weekly.

Hope this helps..

XT-

Quoting TheArcher
volume not supporting the rise in price ? hence mini divergence ? what will they think of next ? ...... soft landing at 1337 ? Edit : no time to re-draw the lower uptrend line .... kindly make adjustments/re-draw the line to touch the lows {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,440
  • Aug 20, 2013 4:23am Aug 20, 2013 4:23am
Quoting m3rlin
{quote} Hi XTrade . Thanks for the tip . My stop on silver was at 22.753 ( nearly the same as in the above table ) and was touched today . I can say I'm little upset because I only manage to make few dollars and my TP was not reached , but I'm not . Only take what the market offers you . Now I'm more confidence in my trading strategy because offers me good buying signals and stop lose .

As I mentioned before, I am going to post a multitude of different ways to place stops - buy stops/sell stops to show people how to stay somewhat safe in
trading these markets.

If you came out with green pips it is a win no matter how small or large.

What I want people to understand is how to target these levels to optimize profit and not get "stopped out" in the mean time....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
122 traders viewing now