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

  • #25,481
  • Sep 20, 2013 2:05am Sep 20, 2013 2:05am
Quoting gilfx
This is a very negative signal! Now four consecutive wave degrees show a clear NEGATIVE trend. My sentiment for > Today > SELL
please expand - this isn't a scalping thread
  • #25,482
  • Sep 20, 2013 2:12am Sep 20, 2013 2:12am
GOLD : Today Gold will go down and H1 H4 u can see down side chart
1350/ 1340/ 1330/ expected if break upside 1375 then u can 1385/ 95/ 1405
but i blve Down side move
Best of luck
  • #25,483
  • Sep 20, 2013 2:14am Sep 20, 2013 2:14am
1375-1370 is interesting resistance area. I however I prefer long. Will see what price action tells me.
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  • #25,484
  • Sep 20, 2013 2:30am Sep 20, 2013 2:30am
Quoting Malik taxila
GOLD : Today Gold will go down and H1 H4 u can see down side chart 1350/ 1340/ 1330/ expected if break upside 1375 then u can 1385/ 95/ 1405 but i blve Down side move Best of luck
please give some reasons other than "you can see it on the chart" thanks - it would be helpful as different people can see different things......
  • #25,485
  • Sep 20, 2013 4:38am Sep 20, 2013 4:38am
Quoting Malik taxila
GOLD : Today Gold will go down and H1 H4 u can see down side chart 1350/ 1340/ 1330/ expected if break upside 1375 then u can 1385/ 95/ 1405 but i blve Down side move Best of luck

Quoting cg uno
{quote} please give some reasons other than "you can see it on the chart" thanks - it would be helpful as different people can see different things......


Have to say here Malik naming every ten buck zone is quite simple and not really saying much.

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,486
  • Sep 20, 2013 4:40am Sep 20, 2013 4:40am
Quoting Scalptastic
1375-1370 is interesting resistance area. I however I prefer long. Will see what price action tells me. {image}

There is some minor resistance there, which can be seen on your chart, yet if people buy the dip it may go today!


Let's see!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,487
  • Sep 20, 2013 4:41am Sep 20, 2013 4:41am
Quoting cg uno
{quote} please give some reasons other than "you can see it on the chart" thanks - it would be helpful as different people can see different things......
How you like my avatar? you guyz know who that is right?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,488
  • Sep 20, 2013 4:59am Sep 20, 2013 4:59am
And the overpowering downtrend continues....
Trade with what you see, not what you feel.
  • #25,489
  • Sep 20, 2013 5:38am Sep 20, 2013 5:38am
Quoting KADC
{quote} I haven't forgotten Goldman Sachs calling for a $2,350 or $2,400 target for gold just as it was about to hit $1,900. They consistently make their pronouncements just as whatever they are talking about is about to change directions be it gold or anything else.
Yeah that's right. Remember the ones they get wrong and overlook all the rest.

Besides every investment bank has an analysis side and a trading side.

But this is exactly my point. Everyone here, well not everyone, says manipulation with whatever funnymental news comes out different than what Wall Street was calling for, when sometimes the street just gets it wrong. They fuked up. Ohh no they meant to do that. They are so brilliant.

That is having it both ways my friend. They knew in advance or they didn't know and led everyone astray the wrong direction. Perfect excuse if someone outside the street gets it wrong, blame it on them no matter what.
  • #25,490
  • Sep 20, 2013 5:50am Sep 20, 2013 5:50am
With daily RSI sitting at 50 interacting with a support and pivot lines for both gold and silver there is no daily directional bias at the moment. Both gold and silver are currently trading below yesterday's close price and both fell below their respective consolidation zones from yesterday, silver making the more constructive move down 61.8% of it's zone, and are both now moved up to test the bottom of said areas, a rejection from or break above being potential trade signals.

It is worth noting that gold was rejected, albeit not strongly, from prior bull channel support (now resistance) and is so far constrained within the 61.8% and 50% Fibonacci fan segments. As someone noted previously, today could see a take-profit sell-off of Wednesday's gains or the $23 fall from yesterday's high to $1,352.50 may have been a sufficient pull-back to initiate more buying. Certainly in the case of silver the 4% drop from the high to $22.50 support (since bounced up 1.6%) was enough of a drop that I would add to my investment portfolio if it's retouched during the US session coinciding with RSI or some other supportive indicator confirmation.

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You can always make money tomorrow provided you don't lose it today.
  • #25,491
  • Sep 20, 2013 5:54am Sep 20, 2013 5:54am
Strong Buy Recommendation: Gold . Buy Gold In Between 1354-64 Range . Target 1379-84-93. Final Target 1404-1412. Today target 1374-79 before closing
Watch market as a layman, Do have a opposit trade what ur mind suggest ;-)
  • #25,492
  • Sep 20, 2013 5:58am Sep 20, 2013 5:58am
say what ....?
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  • #25,493
  • Sep 20, 2013 6:30am Sep 20, 2013 6:30am
Quoting SunTrader
{quote} Yeah that's right. Remember the ones they get wrong and overlook all the rest. Besides every investment bank has an analysis side and a trading side. But this is exactly my point. Everyone here, well not everyone, says manipulation with whatever funnymental news comes out different than what Wall Street was calling for, when sometimes the street just gets it wrong. They fuked up. Ohh no they meant to do that. They are so brilliant. That is having it both ways my friend. They knew in advance or they didn't know and led everyone astray the...
Anyone who blames either Goldman Sachs or "the street" (and the one should definitely not be confused with the other) for getting it "wrong" should probably not be trading. No-one is forced to make a trade based on someone else's advice. This is why we repeat here in this thread to always trust your own charts.

It is not in Goldman Sachs' financial interest to make calls that benefit anyone but themselves and they have no obligation to do so. Their sole fiduciary obligation is to their shareholders and no-one else, not even their own clients. In fact, making statements that would benefit the competition could be seen as a breach of their legal obligation to their shareholders.

What they did was deliberate and with full knowledge of the outcome. It's not a coincidence that all the central banks and treasuries are headed and staffed by former Goldman Sachs executives and they certainly aren't putting millions in the pockets of Congressmen and Senators to be charitable.

The markets have been controlled by insider trading since since the beginning. It's how the system was designed and it's how the system is maintained.
You can always make money tomorrow provided you don't lose it today.
  • #25,494
  • Sep 20, 2013 6:32am Sep 20, 2013 6:32am
what a fight for 1360 area...
  • #25,495
  • Sep 20, 2013 6:35am Sep 20, 2013 6:35am
Quoting libra_reserv
Strong Buy Recommendation: Gold . Buy Gold In Between 1354-64 Range . Target 1379-84-93. Final Target 1404-1412. Today target 1374-79 before closing
Whose strong recommendation and why? Without accompanying technical analysis that is nothing more than a series of numbers that could have come from anywhere.
You can always make money tomorrow provided you don't lose it today.
  • #25,496
  • Sep 20, 2013 6:41am Sep 20, 2013 6:41am
Quoting letscry
what a fight for 1360 area...
I added to my short position at 1358.75..

Let's see how it reacts if it visits 1352 again today.
Trade with what you see, not what you feel.
  • #25,497
  • Sep 20, 2013 7:52am Sep 20, 2013 7:52am
She's right on/above the 100 and 50 DMAs and tested 1346, which was expected perfect little correction.

Now it looks like there's a little FOMC partaaaaay!!!!! Today! 3 different boys club member's will be on later.

here u go.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,498
  • Sep 20, 2013 8:14am Sep 20, 2013 8:14am
Quoting KADC
{quote} Anyone who blames either Goldman Sachs or "the street" (and the one should definitely not be confused with the other) for getting it "wrong" should probably not be trading. No-one is forced to make a trade based on someone else's advice. This is why we repeat here in this thread to always trust your own charts. It is not in Goldman Sachs' financial interest to make calls that benefit anyone but themselves and they have no obligation to do so. Their sole fiduciary obligation is to their shareholders and no-one else, not even their own...

Good Points
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,499
  • Sep 20, 2013 8:17am Sep 20, 2013 8:17am
Quoting XTrade
Here's the last time I posted the INV HS scenario, going to edit this post and add the latest chart, trying to link them all together. {quote}
Ok I had to redo it again to include the lil correction.......

POTENTIAL INV H&S Septermber 2013
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,500
  • Sep 20, 2013 8:24am Sep 20, 2013 8:24am
On the hourly chart, gold is respecting ascending resistance (blue) and descending support (red) and the pivot line (purple) from the daily chart. Hourly RSI isn't any help as it is within a well-defined descending RSI channel (red) but sitting on support of the ascending channel (blue).

For now I shall continue to wait.

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You can always make money tomorrow provided you don't lose it today.
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