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

  • #24,661
  • Aug 26, 2013 8:24pm Aug 26, 2013 8:24pm
Quoting TheArcher
if my EW is correct, (see post of 19thAug ) i see a beautiful EW 1,2,3,4, 5 going to 1420 ... then there must be ABC after that .... will the Powers-Be oblige ? only Time will tell . {image}

1420 is also recommended by simple Support and Resistance as a 1200+ target, as well as certain longer term - ie H4 Daily FIBO levels.

Please don't let me discourage you from your desired system,

I just want to make you aware of more simple methods.

Sincerely,
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,662
  • Aug 26, 2013 8:26pm Aug 26, 2013 8:26pm
short until news,
long with news probably,
will see...
  • #24,663
  • Aug 26, 2013 8:28pm Aug 26, 2013 8:28pm
Quoting Rag2RichesFX
{quote} hey funny thing about the markets. just because a support level exists doesn't mean we are going there aussie to 0.60 cents everyone! Huge support level there so we must go there right? what a joke. have fun going countertrend the strongest fundamental trend in the markets (besides US 10yr)

So you have long term faith in the USD or T-Bills as opposed to GOLD? What will happen when the "bond bubble" ends?
USD tanks, Yet Gold is CHEAP at 1350+?


- I still owe SunTrader a RE: on this issue, which will be posted this week. Sorry Long weekend.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,664
  • Edited 8:34pm Aug 26, 2013 8:33pm | Edited 8:34pm
Keep in mind today is a Bank Holiday in London.

Off the Aussie open there was a spike to appx 1410 and now the price is sitting on interim support level bobbing around, 1390+

Catch me if I'm wrong, but, at least as of, YET, I don't see the selling pressure that broke many a support on the way low.

...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,665
  • Edited Aug 27, 2013 12:03am Aug 26, 2013 11:50pm | Edited Aug 27, 2013 12:03am
Quoting XTrade
{quote} 1420 is also recommended by simple Support and Resistance as a 1200+ target, as well as certain longer term - ie H4 Daily FIBO levels. Please don't let me discourage you from your desired system, I just want to make you aware of more simple methods. Sincerely, XT-
thanks for the heads up .

( can you post a chart )
  • #24,666
  • Aug 27, 2013 12:14am Aug 27, 2013 12:14am
Time tells
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  • #24,667
  • Aug 27, 2013 12:59am Aug 27, 2013 12:59am
what is that long red candle ?
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  • #24,668
  • Aug 27, 2013 1:18am Aug 27, 2013 1:18am
Quoting TheArcher
what is that long red candle ? {image}
It's a NetDania exclusive data glitch ...it's not on my broker charts.
You can always make money tomorrow provided you don't lose it today.
  • #24,669
  • Aug 27, 2013 1:39am Aug 27, 2013 1:39am
Quoting KADC
{quote} It's a NetDania exclusive data glitch ...it's not on my broker charts.

Yes, a false tick by NetDania.

I'm seeing it Long for today. Have earned some pips so far. To me, daily low won't be amended.

Any other thoughts from experts on today's scenario???
--- only constant in this world is change ---
  • #24,670
  • Aug 27, 2013 1:51am Aug 27, 2013 1:51am
still wary through the last days of august - remember that today is op ex .........
  • #24,671
  • Aug 27, 2013 2:08am Aug 27, 2013 2:08am
Central banks buying again (The central banks of Russia, Azerbaijan and Kazakhstan returned to the gold market once again in July, topping up their stockpiles of the precious metal as prices traded near three-year lows.) + developments in Syria give me the long bias. I may short from resistance zones if I get reversal signals.
1423 looks likely to me.
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  • #24,672
  • Aug 27, 2013 4:12am Aug 27, 2013 4:12am
Hi all . Technical analysis tell us we are in a bullish trend on both metals , and I think we will see new higs . Now Western countries have evidences of using chemical weapons in Syria and is a big possibility to see a new war . It is interesting because Russia claim that the West has no proof for Syria chemical weapons . Another thing that should be considered , is the Russian naval base in Syria at Tartus , this is a strategyc base for them . This is not a war only for syrian peoples . Someone knows where can I find a website like google maps but where I can select different colors for countries ? Thanks . My English is not so good but I think you understood .

Russia has no evidence of whether a chemical weapons attack has taken place in Syria or who is responsible, Russian President Vladimir Putin told British Prime Minister David Cameron in a telephone call, according to Cameron’s official website.
The two leaders had an urgent phone call on Monday afternoon regarding the Syrian crisis in the wake of a sniper attack on UN chemical inspectors outside Damascus.
Following the call the British government spokesperson said: "President Putin said that they did not have evidence of whether a chemical weapons attack had taken place or who was responsible."
Both national leaders reaffirmed the stance that all G8 attendees took in June: "No-one should use chemical weapons and any use would merit a serious response from the international community."
Hysteria around chemical attack suits those who want military intervention in Syria - Lavrov
Read more: http://voiceofrussia.com/news/2013_0...-Cameron-4915/
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Price itself it's an indicator
  • #24,673
  • Edited 6:05am Aug 27, 2013 5:43am | Edited 6:05am
macd bullish ?

stocs bullish ?
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  • #24,674
  • Aug 27, 2013 5:48am Aug 27, 2013 5:48am
Quoting Scalptastic
I may short from resistance zones if I get reversal signals.


for knowledge sake, care to share what your " reversal signals " are ?

thanks .
  • #24,675
  • Edited 7:55am Aug 27, 2013 7:49am | Edited 7:55am
Gold broke $1415 (38.2% Fibonacci of full completed move down and 76.4% of full completed reversal) making $1488 the next target (50%/100% respectively). A retest of the descending trend line coinciding with $1370 (62.8% of completed reversal) would be nice but will depend of if the resistance line of the bull channel gold is trending in holds.

Addendum: R2 at $1417.50 is currently acting as support and may be a good place for a take-profit stop loss position just below.

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You can always make money tomorrow provided you don't lose it today.
  • #24,676
  • Aug 27, 2013 8:14am Aug 27, 2013 8:14am
Silver is rapidly approaching $24.77/$24.84 (38.2% and 100% Fibonaccis) where R2 lies and is currently above R1. A break above this level targets $26.8/$26.64 (50%/127.2% respectively) though a retest of $23.27 (76.4%) would provide a good buying opportunity.

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You can always make money tomorrow provided you don't lose it today.
  • #24,677
  • Aug 27, 2013 8:21am Aug 27, 2013 8:21am
Quoting Scalptastic
Central banks buying again (The central banks of Russia, Azerbaijan and Kazakhstan returned to the gold market once again in July, topping up their stockpiles of the precious metal as prices traded near three-year lows.) + developments in Syria give me the long bias. I may short from resistance zones if I get reversal signals. 1423 looks likely to me. {image}

1423 level breached
  • #24,678
  • Aug 27, 2013 8:22am Aug 27, 2013 8:22am
Quoting TheArcher
{quote} for knowledge sake, care to share what your " reversal signals " are ? thanks .

Basic candle reversal signals on lower timeframes.
  • #24,679
  • Aug 27, 2013 8:25am Aug 27, 2013 8:25am
I got buy limits for XAG/USD,
long term target 40.x-42.x like I said before... -> 12-18 months

buy lim. 24,38
buy lim. 24,42
buy lim. 24,46

next time I'll open a seperate account,
go long 1-2 lot on each level...
  • #24,680
  • Aug 27, 2013 8:39am Aug 27, 2013 8:39am
Quoting TheArcher
Time tells {image}


Nice catch!

With a fresh new Monthly high for Gold today. We were targeting 1420 only last night if I recall.

looking good for a test of 1460/80 area. Once that goes we should be able to hit 1550 quite easily as long as the steams keeps up

Daily gold:
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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