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

  • #25,061
  • Sep 5, 2013 2:00pm Sep 5, 2013 2:00pm
http://s19.postimg.org/6z36uruqr/GC1.png



Seems like 1340 is baked in the cake to me, as close to 100% as you can get. 200HMA, and 38% retracement, shoulda stuck to my guns a few days ago, bah.
Edit, LOL, just saw it's a 5h chart! So forget the MA, but sticking with the target based on the fib.
I have no clue what I'm talking about.
  • #25,062
  • Sep 5, 2013 2:17pm Sep 5, 2013 2:17pm
Silver looks pretty terminal, failure at 200MA and lower high. A 50% retrace of the leg from the lows has got to be at least a 50-50 chance, I would've thought.


http://s19.postimg.org/d1atl9j6r/SI1.png


You have to have some immense pressure to get back above that 200DMA. Maybe WWIII might do it...
I have no clue what I'm talking about.
  • #25,063
  • Sep 5, 2013 2:44pm Sep 5, 2013 2:44pm
Gold

Additional technicals
Double top @1425
Weekly doji top @ 38.2 Fib retracement of the downmove from 1800 area
Attached Image (click to enlarge)
Click to Enlarge Name: Gold-daily-05092013-2030uk.jpg Size: 118 KB
If you think you can or cannot do it you are correct
  • #25,064
  • Sep 5, 2013 3:03pm Sep 5, 2013 3:03pm
MACD (different settings 3-8-13) on my chart crossed down 3 days ago:
Attached Image (click to enlarge)
Click to Enlarge Name: XAU macd.png Size: 67 KB
  • #25,065
  • Sep 5, 2013 3:56pm Sep 5, 2013 3:56pm
Reminder: NFP tomorrow 830am ET
  • #25,066
  • Sep 5, 2013 4:57pm Sep 5, 2013 4:57pm
Quoting SunTrader
Reminder: NFP tomorrow 830am ET

I hear you SunTrader. Loud and clear

Olu
If you think you can or cannot do it you are correct
  • #25,067
  • Sep 5, 2013 4:57pm Sep 5, 2013 4:57pm
Quoting Boy Wonder
{image} Seems like 1340 is baked in the cake to me, as close to 100% as you can get. 200HMA, and 38% retracement, shoulda stuck to my guns a few days ago, bah. Edit, LOL, just saw it's a 5h chart! So forget the MA, but sticking with the target based on the fib.

how did you add 200ma to your chart? can you explain please? i can add MA(50) to investing.com advanced silver chart, but i could not find how to add MA(200). i click "open a system" and i choose "simple ma" it's adding 50ma or 10ma.I tried at daily, weekly,montly charts, nothing changed, i was using following address or netdania.com to check 200ma.

http://www.monex.com/prods/silver_chart.html
  • #25,068
  • Sep 5, 2013 5:14pm Sep 5, 2013 5:14pm
Quoting emirfas1
{quote} how did you add 200ma to your chart? can you explain please? i can add MA(50) to investing.com advanced silver chart, but i could not find how to add MA(200). i click "open a system" and i choose "simple ma" it's adding 50ma or 10ma.....
Open System Manager ---> MA under List of Studies then ----> Displayed Studies

Click on MA and edit it.
  • #25,069
  • Sep 5, 2013 7:09pm Sep 5, 2013 7:09pm
Quoting SunTrader
Reminder: NFP tomorrow 830am ET
180k expected vs 165k (august #) / unemployment expeted to be unchanged, so stong dollar; but this is just the rumors...
  • #25,070
  • Edited 9:43pm Sep 5, 2013 9:11pm | Edited 9:43pm
Quoting GqOrlando
{quote} 180k expected vs 165k (august #) / unemployment expeted to be unchanged, so stong dollar; but this is just the rumors...
Who started and/or spread this rumor (apart from yourself)?
  • #25,071
  • Sep 5, 2013 10:28pm Sep 5, 2013 10:28pm
Quoting SunTrader
MACD (different settings 3-8-13) on my chart crossed down 3 days ago: {image}
do u use these parameters for all timeframes or just the daily ?
  • #25,072
  • Sep 5, 2013 10:38pm Sep 5, 2013 10:38pm
Quoting Olu
Gold Additional technicals Double top @1425 Weekly doji top @ 38.2 Fib retracement of the downmove from 1800 area {image}
wow ! an ideal and classical TA !

(let's hope that a pigeon does not land on this delicate balance to upset the set-up ! )
  • #25,073
  • Sep 5, 2013 11:33pm Sep 5, 2013 11:33pm
I guess the market will not go below 1350 today. It should go back up to the 1383 - 1389 range after this
  • #25,074
  • Sep 6, 2013 1:28am Sep 6, 2013 1:28am
leaving aside technicals (which i don't), the large take down yesterday and so much negativity around metals makes me suspicious of a nfp miss and possible price reaction.....
  • #25,075
  • Sep 6, 2013 3:57am Sep 6, 2013 3:57am
Quoting cg uno
leaving aside technicals (which i don't), the large take down yesterday and so much negativity around metals makes me suspicious of a nfp miss and possible price reaction.....

???? scratching my head .... do u mean an up or a down for the gold price ?
  • #25,076
  • Sep 6, 2013 4:10am Sep 6, 2013 4:10am
Attachment
Attached Image
  • #25,077
  • Sep 6, 2013 4:30am Sep 6, 2013 4:30am
Quoting cg uno
leaving aside technicals (which i don't), the large take down yesterday and so much negativity around metals makes me suspicious of a nfp miss and possible price reaction.....
Yeah it's a good point but it was only 3 days ago that I was feeling uncomfortable "switching sides" and plugging for another test of 1425 because there seemed to be so much bullishness around.
I think any rally will be short-lived and sold into. Silver's failure at its 200DMA seals the deal for me.
But yeah, this is trading, anything can happen.
I have no clue what I'm talking about.
  • #25,078
  • Edited 10:17am Sep 6, 2013 5:46am | Edited 10:17am
Quoting Olu
Gold Additional technicals Double top @1425 Weekly doji top @ 38.2 Fib retracement of the downmove from 1800 area {image}
The most significant technical on your chart is the rising support line, confirmed by the parallel connecting the highs as illustrated by SunTrader* and Archer two posts prior to yours. People were calling $1,350 the top of the corrective bounce yet the support line held and gold rose higher. It is normal for any financial vehicle to test both the support and resistance lines when they are in a channel, and gold is no different. If support fails, gold will fall, else expect the next leg up.

Addendum: It's also normal for highs to be retested from above and the support line just happens to be near $1,350. Needless to say, $1,350 is my downside target which is the S3.

Additional: The 127.2% extension and S2 sit at $1,355 which is my initial target. A break below targets $1,345 (162.8%) with an immediate pullback to S3 at $1,350 which I believe is where gold will end the day.

*correction: actually " linear regression channel based off 1st swing of the move up"
You can always make money tomorrow provided you don't lose it today.
  • #25,079
  • Sep 6, 2013 6:18am Sep 6, 2013 6:18am
Quoting openyoureyes
{quote} I am still waiting, for bigger PA, + momentum... weekly/daily bearish for me, but I won't sell here. maybe buy from marked areas - or sell from +1400 still considering; waiting for a good XAG/USD long... {image} {image} {image}
maybe we will see weekly bearish confirmation today with us unemployment..
  • #25,080
  • Sep 6, 2013 7:07am Sep 6, 2013 7:07am
Quoting SunTrader
{quote} Open System Manager ---> MA under List of Studies then ----> Displayed Studies Click on MA and edit it.
thank you for explanation
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