XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1255 | 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

  • #25,081
  • Sep 6, 2013 7:22am Sep 6, 2013 7:22am
Quoting TheArcher
{quote} ???? scratching my head .... do u mean an up or a down for the gold price ?
I think he´s talking about a rally from here if we get bad NFP #; which makes sense in this scenario.

ABCD target almsot hit btw (this is a reversal area) I close shorts from 1410 and 1392 at 136. Technically speaking this is a massive support and is around the BACD reversal zone at FE 127.00
  • #25,082
  • Sep 6, 2013 7:35am Sep 6, 2013 7:35am
Quoting Wheels
{quote} Who started and/or spread this rumor (apart from yourself)?
There are rumors or so-called "whisper numbers" every month and for most every economic report.

Projected numbers on the high and the low range.

Nothing sinister. Just plain old guesses. Which when it comes to economics is how most of it is done.
  • #25,083
  • Sep 6, 2013 7:37am Sep 6, 2013 7:37am
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.....
Spoted lowsy lowsy lowsy report. #DXU3 down 0.50% today
  • #25,084
  • Sep 6, 2013 7:41am Sep 6, 2013 7:41am
Quoting SunTrader
{quote} There are rumors or so-called "whisper numbers" every month and for most every economic report. Projected numbers on the high and the low range. Nothing sinister. Just plain old guesses. Which when it comes to economics is how most of it is done.
Yes. Just prefer a source. Do not believe it is sinister.
  • #25,085
  • Edited 8:13am Sep 6, 2013 7:56am | Edited 8:13am
Buyer's beware: Overreactions to market data almost always return to the opening price if there is no follow-through within 15 minutes. I am short with a stoploss at the top of the surge. I will use opening range strategy today to either add to or reverse my position.

addendum: There is always a bad print before FOMC to justify continued easing. ...the same easing which benefits Goldman Sachs for which most members of every central banking committee of every G8 nation except China and Japan are former (and future) executives thereof. The only way easing will end is if it is shifted from giving banks money to spending it on building infrastructure and creating jobs. ...something that would actually benefit the economy and therefore be counter-productive to the current global corporate power structure.
You can always make money tomorrow provided you don't lose it today.
  • #25,086
  • Sep 6, 2013 8:12am Sep 6, 2013 8:12am
got hit by my stop loss earlier... 2 TP got triggered going down but 3 SL got triggered with the sudden surge ouch
  • #25,087
  • Sep 6, 2013 8:15am Sep 6, 2013 8:15am
for anyone interested beyond the headline numbers here's a quote from zerohedge

"However what has shocked the market is the revision to the July jobs number from 162K to only 104K, resulting in a net drop of 74K jobs, and breaking the average 2013 jobs gain of 200K which previously was said by the Fed to be the key threshold level for tapering. The question now is: is this print bad enough to delay the taper?"
  • #25,088
  • Sep 6, 2013 8:34am Sep 6, 2013 8:34am
Quoting KADC
..........., confirmed by the parallel connecting the highs as illustrated by SunTrader and .......
Not highs connected but linear regression channel based off 1st swing of the move up.

BTW I'm still bearish and expect correction to downtrend to be over Aug 28th.

And as I said previously especially if 1343 gets taken out.
  • #25,089
  • Sep 6, 2013 8:35am Sep 6, 2013 8:35am
Quoting TheArcher
{quote} do u use these parameters for all timeframes or just the daily ?
Short on time atm. Will reply later.
  • #25,090
  • Sep 6, 2013 8:38am Sep 6, 2013 8:38am
Quoting SunTrader
{quote} Short on time atm. Will reply later.
Dollar index still dropping after NY openning bell.
  • #25,091
  • Sep 6, 2013 8:48am Sep 6, 2013 8:48am

Well bounced! 1tp hit at 1393 = + 23.
Per aspera ad astra
  • #25,092
  • Sep 6, 2013 8:52am Sep 6, 2013 8:52am
Quoting jpadvisor
Well bounced! 1tp hit at 1393 = + 23.
Thank Putin for this
  • #25,093
  • Sep 6, 2013 10:13am Sep 6, 2013 10:13am
We're in a descending fractal channel parallel to the previous one that tested resistance and support of the primary bull channel in July. With this surprise (to me) move up I maintain my downside target of $1,355 which is would be at channel support Monday or Tuesday. A move up from there should bring us back to $1,400 resistance.

Attached Image (click to enlarge)
Click to Enlarge Name: Gold - 130906 8-hour.jpg Size: 493 KB
You can always make money tomorrow provided you don't lose it today.
  • #25,094
  • Edited 1:46pm Sep 6, 2013 11:42am | Edited 1:46pm
As long as the support holds in this uptrend, it seems odd that so many assume we are bearish. Counting chickens a bit early if you ask me.

Clearly support can be taken out at any time. I am fairly neutral, but do not believe we have seen any evidence that the uptrend is finished.

For newbies (not sure if there are any watching this thread), I would exit prior to September 18th in any event. A spike in either direction is quite possible.
  • #25,095
  • Sep 6, 2013 11:54am Sep 6, 2013 11:54am
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd.daily.png Size: 83 KB

In the candlestick someone calls this formation a "railroad" and is clearly bullish.
Per aspera ad astra
  • #25,096
  • Sep 6, 2013 12:14pm Sep 6, 2013 12:14pm
Quoting SunTrader
{quote} Short on time atm. Will reply later.
will wait patiently for the Master's wisdom-laden reply.

  • #25,097
  • Sep 6, 2013 12:21pm Sep 6, 2013 12:21pm
Hello guys

Iam new here.I want to know should i go short ore long with gold.If i bought yesterdag day and sold today i had a great profit but i didn't.What is the best for longer periode?
  • #25,098
  • Sep 6, 2013 1:16pm Sep 6, 2013 1:16pm
though it looks like a symmetrical triangle or a pennant on a flagpole , it must be a reaction to the economic data , temporary .... the macd histogram is weakening and the stocs is in the over bought region ..... when the pigeon flies off, will the balance will be restored back to box 2 .... ?

what if there were a hawk over mideast ... the pigeon might fly higher ?
Attached Image (click to enlarge)
Click to Enlarge Name: gold0609A.png Size: 24 KB
  • #25,099
  • Sep 6, 2013 1:52pm Sep 6, 2013 1:52pm
Quoting 3Davy
What is the best for longer periode?

everyone is wishing we knew !

reminds me of childhood days ..... whatever will be will be , the future is not for us to see !
  • #25,100
  • Sep 6, 2013 8:16pm Sep 6, 2013 8:16pm
Archer,

I use the same settings on all time frames. But more importantly is how I use MACD besides looking for crossover of MACD (cyan color) and MACD average (yellow color). First let me say that anything I know about trading I learned from others. Almost nothing is original on my part. Just what combination.

Macd average identifies trend (crossing back above or back below zero(0), macd identifies corrections to that trend when macd crosses back above or back below macd average.

In attached chart X shows when trend crossed back above 0, Y shows where retracement (ever so slightly) crossed back below average. Then Z shows (for an upmove) the histogram an uptick which can be either higher than previous or in this case not as low as previous since it is below zero - which signals the end of the retracement.

Then look above to the price bar that lines up with this showing dotted horizontal line drawn which gets taken out the next day calling for long trade after breakout above previous bar's high.


HTH

Sun
Attached Image (click to enlarge)
Click to Enlarge Name: XYZ.png Size: 52 KB
173 traders viewing now