XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1272 | 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

  • #25,421
  • Sep 18, 2013 9:42pm Sep 18, 2013 9:42pm
What happen if close week bellow 1350 ? You have keep bear trend for Gold ,XTrade ?
  • #25,422
  • Sep 18, 2013 9:57pm Sep 18, 2013 9:57pm
Attached Image (click to enlarge)
Click to Enlarge Name: gold1909.png Size: 19 KB
  • #25,423
  • Sep 18, 2013 10:33pm Sep 18, 2013 10:33pm
Quoting Zerd
What happen if close week bellow 1350 ? You have keep bear trend for Gold ,XTrade ?
No- If we close below 1350 Will look to 1335/30 to protect appx 50% of the gains made and look for buy stops to be triggered.

As of now.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,424
  • Sep 19, 2013 12:38am Sep 19, 2013 12:38am
Quoting Malik taxila
its a really bad Morning for me B cz in gold trade i lost 700$ :'(
There's nothing you can do to change what happened so try to honestly evaluate what you did wrong and what you could have done differently to prevent it. Say it out loud to yourself and write it down. Seriously. This will genuinely help you to not make that mistake again.

May I also suggest that if you're thinking that you have to make that back you should take a break until tomorrow or the next day. Trying to make back losses is a surefire way to lose more money in my experience. Wait until you're in the mindset that today is a new day, the past is behind you, and you're going to make money before you start trading again.
You can always make money tomorrow provided you don't lose it today.
  • #25,425
  • Sep 19, 2013 1:26am Sep 19, 2013 1:26am
Quoting XTrade
{quote} sorry to hear that, since you have been so bold to share such a loss, would you mind telling us the trade parameters? ....
My first real loss years ago was $5,000 and it made me take trading much more seriously after a series of what in hindsight were lucky gains, so I chalked it up to being the price of admission and consider it a learning experience.

There's the rule of thumb that you should not risk more than you can afford to lose and I nearly crossed the line that time. I've learned that any time my trades are stressing me out I am risking too much. Generally speaking, if I can't comfortably go to bed with live trades without any stops and not be concerned about potential losses (not that I'm advocating that to others) then I need to rethink what I'm doing.
You can always make money tomorrow provided you don't lose it today.
  • #25,426
  • Sep 19, 2013 1:27am Sep 19, 2013 1:27am
Quoting TheArcher
{image}
Agree.. Break 1373 area is change trend : BULL>>

Or else she is move down again..
  • #25,427
  • Sep 19, 2013 2:17am Sep 19, 2013 2:17am
Quoting Scalptastic
{quote} Took a small long position from 1292. Stop loss is 1285 (trailing it higher). My first target is 1.3320. {image}

Thank you Mr Ben got even bigger profit than I expected
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD1.JPG Size: 51 KB
  • #25,428
  • Sep 19, 2013 2:21am Sep 19, 2013 2:21am
Its near to a break throu 4h candle
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 118 KB
  • #25,429
  • Sep 19, 2013 2:21am Sep 19, 2013 2:21am
4h line chart
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 103 KB
  • #25,430
  • Sep 19, 2013 3:47am Sep 19, 2013 3:47am
Quoting k3nshinz3139
{quote} Agree.. Break 1373 area is change trend : BULL>> Or else she is move down again..
Both silver and gold recovered half of their recent losses and are sitting right at support/resistance without any follow-through or pull-back for either metal during the Asian session though daily RSI for both have crossed above 50 which is technically bullish but needs confirmation as they could easily fall back below. Looking back on the daily chart, there hasn't been a reversal candle of this magnitude which was not followed the next day with a continuation within the last year which shows historically follow-through today is more likely than an immediate pull-back. The last time a unidirectional candle of this magnitude was reversed without either continuation the next day or having been follow through of a similarly directional candle from the day before was a bearish candle last November 4, which again, shows a historical favouring of higher prices today.

There wasn't any movement for any Forex pair for that matter, other than a bit of a bounce for USD/JPY (Kurada got things moving for the rest of the Yen crosses an hour ago ...expect another nudge when he speaks again tomorrow), which suggests that the side of the planet wasn't surprised by the decision not to taper and were satisfied with the positions they are holding.

The open of the European session saw silver gain then lose ~1% and gold rose enough to clear the $10 consolidation channel it has formed in the 5-minute charts which I may take a stab at with a small long position if the top of that channel proves supportive when London opens. Being where most spot gold is traded, hopefully the London session will see more constructive movement in the metals one way or the other but so far there as been no interest in trading gold or silver from that side of the pond.
You can always make money tomorrow provided you don't lose it today.
  • #25,431
  • Sep 19, 2013 5:34am Sep 19, 2013 5:34am
Hello,


There was a really big move on Gold after the FOCM. But why there was no move during asian session? Asian dont react to the FOCM newS?


I dont know who are the actors on gold (the same than on the currencies?) and why some session react or dont react to the same news.
Bottomless wonders spring from simple rules, which are repeated without end
  • #25,432
  • Sep 19, 2013 5:48am Sep 19, 2013 5:48am
Quoting limprobable
Hello, There was a really big move on Gold after the FOCM. But why there was no move during asian session? Asian dont react to the FOCM newS? I dont know who are the actors on gold (the same than on the currencies?) and why some session react or dont react to the same news.
I suggest that only the Western markets were gullible enough to believe that the FED would actual consider ending easing and that the Eastern markets are more concerned with physical ownership and had never stopped buying and are likely waiting for the next pull-back to buy more. Europe is likely taking a "better safe than sorry" attitude and waiting for the North American market to open to see which way the wind is going to blow before taking a chance at buying after such a strong move upwards.
You can always make money tomorrow provided you don't lose it today.
  • #25,433
  • Sep 19, 2013 5:51am Sep 19, 2013 5:51am
Here is a fairly comprehensive technical price analysis for gold (Ichimoku, candle, Fibonacci, Pin) for those interested in learning how to read a chart.

Inserted Video
You can always make money tomorrow provided you don't lose it today.
  • #25,434
  • Sep 19, 2013 6:18am Sep 19, 2013 6:18am
DailyFX favours a bearish move back to $1,334 if gold breaks below $1,358. Chart is fine, but bias needs to be put in perspective of their perma-bear attitude and extremely low batting average with regard to the metals since June.

http://www.dailyfx.com/forex_forum/g...ml#post1732674
You can always make money tomorrow provided you don't lose it today.
  • #25,435
  • Sep 19, 2013 6:23am Sep 19, 2013 6:23am
Quoting XTrade
{quote} NP & Yes next real resistance target is appx 1425 it's on the last chart I posted along with 1350 zone and lower the would be bearish target and support zone below a fail of 1300/10 area which resides appx 1275, notice the larger S/R areas of interest are basically 75 USD apart. 1275+75= 1350 + 75 = 1425 I'm not just making these numbers up, the zones are clearly visible areas of interest on the h4/daily/weekly
Hi,
nice levels you spelt out but lets see how price reacts to 1373-1375 resistance zone first for today before we begin to aim higher.
Enjoy your trade.
  • #25,436
  • Sep 19, 2013 6:34am Sep 19, 2013 6:34am
Quoting KADC
DailyFX favours a bearish move back to $1,334 if gold breaks below $1,358. Chart is fine, but bias needs to be put in perspective of their perma-bear attitude and extremely low batting average with regard to the metals since June. http://www.dailyfx.com/forex_forum/g...ml#post1732674
Good points , i am short from here , but i am afraid because of the coming news
  • #25,437
  • Sep 19, 2013 6:53am Sep 19, 2013 6:53am
Quoting pipcenturion
{quote} Hi, nice levels you spelt out but lets see how price reacts to 1373-1375 resistance zone first for today before we begin to aim higher. Enjoy your trade.
Once and if we are able to break this resistance (a 1hr candle close above 1375) our next point of probable reversal will be 1412
Let us wait and see what the market chooses to do.
  • #25,438
  • Edited 9:16am Sep 19, 2013 7:03am | Edited 9:16am
Quoting netera
{quote} Good points , i am short from here , but i am afraid because of the coming news
DailyFX technical analysis levels are always good (though sometimes their trend lines are questionable *and they clearly do NOT know the technical requirements for a head and shoulders pattern), it's just the conclusions they draw from their analysis that is frequently lacking. Regardless, always trust your own charts.

The only economic "data" that has a strong enough effect on the metals market to disturb all but the shortest term technicals was easing which was dealt with yesterday. We've posted charts and graphs and even a spreadsheet many times showing that there is no correlation between currency and the metals if that is your concern (I believe XTrade has a link to at least one of these posts in post #1).

As for the technicals, gold has a tendency to move sideways in a small range then test the initial pull-back from the top of the movement before continuing upwards (and vice versa for downward moves) so you should keep an eye on $1,358 as DailyFX correctly pointed out that is the key level.

*added to original post
You can always make money tomorrow provided you don't lose it today.
  • #25,439
  • Sep 19, 2013 7:45am Sep 19, 2013 7:45am
Quoting pipcenturion
{quote} Once and if we are able to break this resistance (a 1hr candle close above 1375) our next point of probable reversal will be 1412 Let us wait and see what the market chooses to do.

First level reacted excellently well!
Price pulled back sharply into the new point of control formed yesterday. I now expect some more up move.
I expect the previous bearish bat on 5 min tf to transpose into a bearish crab.
Happy trading!
  • #25,440
  • Sep 19, 2013 7:48am Sep 19, 2013 7:48am
Quoting pipcenturion
{quote} Once and if we are able to break this resistance (a 1hr candle close above 1375) our next point of probable reversal will be 1412 Let us wait and see what the market chooses to do.
Right now due to the FOMC and the reaction, The move from 1290 to 1374 today almost 100 usd should be dealt with as a reversal in the mid term bear trend,

1425 is the strongest resistance area next up

If you are just scalping then, well, you've already had a nice almost 10 buck swing in the past 20 minutes!

Sometimes when it's slow that is a daily move.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
26 traders viewing now