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

  • #25,541
  • Sep 20, 2013 4:33pm Sep 20, 2013 4:33pm
Quoting zumarikato
Have a long position from 1298, wanted to hold on as long as possible but will go for a take profit at 1353. Think we on our way south again, best way to make money with trading is to go psychopath on the charts - not emotion. Anyway, my analysis for couple of scalping opportunities. {image}
zumariko...you jusr drew an Elliot wave....i wish this happens though. i sold 500 oz at 1330.
following a trend analysis of long past months you can see theres potential downtrend...

so what factors you guys assume may cause any uptrend??
always draw trendlines
  • #25,542
  • Sep 20, 2013 5:13pm Sep 20, 2013 5:13pm
Quoting fxjay
{quote} My weekly chart looks like this,I think weekly 4th wave will end around minimum 1130,typical 972,max I think around 817.then will be wave 5 on weekly. {image}
Thanks. Looks good. But myself I don't bother with SuperCycle very long term wave counts and fugehtaboutit Wave X's, Y's and W's.

  • #25,543
  • Sep 20, 2013 5:15pm Sep 20, 2013 5:15pm
Quoting KADC
{quote} Both the American Republican and Democratic parties are right-of-centre. ........ I appreciate your position that you think these discussions are a waste of time, but just do as I do and scroll past them.
Ok.

  • #25,544
  • Sep 20, 2013 5:20pm Sep 20, 2013 5:20pm
To tk5

Yes i do see potential downside movement but only short term. I make the majority of my money with scalping so taking a short at 1330 is a bit to risky for me (hope it works out for you) Being a scalper I believe that fundamental news and the elites that manipulate the market is the reason for all the big moves. I make my money with the in between algorithmic ups and downs because that movements respects the patterns and sometimes freakishly accurate Fibonacci levels (at least with my experience)

With gold when buying i usually take 2 positions (or just partial take profit) One for a cheap shot and one for the big bucks. My reasoning for any uptrend is that I believe the Us Dollar is going to crash very very soon, so I am patiently looking for a long position that I can hold on to for at least a year or two.

Reasoning for my believe that the US Dollar is going for a violent nose dive is based on world events unfolding. Which would leave gold as one of the preferred safe havens for investors.

Ultimately like I said, I go psychopath on my charts, no emotion when analyzing for scalping opportunities, but backing my own believe bout the future of gold in the long run I will always leave one long position open as long as I can.
  • #25,545
  • Sep 20, 2013 5:35pm Sep 20, 2013 5:35pm
Zumarikato
i am relatively new to gold tradinf but i love it...

i need to clarify couple points- a. when dollars cheapens gold rises right? is xau/usd like regular currency - if one goes down the other goes up? b. if oil goes up does gold follow it?

regarding usd crashing - i doubt it at untill december because potential bombing of Syria will push dollar...chf and gold...these safe heavens.
always draw trendlines
  • #25,546
  • Sep 20, 2013 5:50pm Sep 20, 2013 5:50pm
Quoting tk5
Zumarikato i am relatively new to gold tradinf but i love it... i need to clarify couple points- a. when dollars cheapens gold rises right? is xau/usd like regular currency - if one goes down the other goes up? b. if oil goes up does gold follow it? regarding usd crashing - i doubt it at untill december because potential bombing of Syria will push dollar...chf and gold...these safe heavens.

with respect if you're short $500 an ounce from 1330 and you're asking these questions then maybe you should have done a bit more research first ......

hope it works out for you .....
  • #25,547
  • Sep 20, 2013 5:51pm Sep 20, 2013 5:51pm
To tk5

I analyze every chart individually, don't think that historical data backs up plenty of gold traders believe that there is a direct correlation to the usd and gold or oil (don't really care if there is but don't think so). The only correlation between gold and the usd that I can see is that investors consider them as safe havens. A status which the usd is loosing fast by the looks of it.

My projections for the usd crash is also moving toward the end of this year. Until such events unfolds, trade what you see on your charts, I see short term downside.
  • #25,548
  • Sep 20, 2013 6:20pm Sep 20, 2013 6:20pm
The mid term daily trend has been bearish, thus, in a reversal pattern the trend is already set, so I am looking for patterns to suggest a reversal north,
not a continuation south. will add later

Quoting TheArcher
{quote} not trying to be funny here , but why not like this scenario ... with "no tapering" factored in ...? {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,549
  • Sep 20, 2013 7:01pm Sep 20, 2013 7:01pm
Gold as low as 1330, will this be the last bearish movement of the year. :? This is one critical thing which all the traders should wait and watch.
  • #25,550
  • Sep 20, 2013 9:02pm Sep 20, 2013 9:02pm
Quoting SunTrader
{quote} ABC is 4th wave on weekly chart. But actually you got me thinking that is might only be wave A (in 3 waves) with B & C yet to come. Next week or two should decide. I believe my daily count is correct but there will be almost no doubt if Wednesday's low gets taken soon. {image}
sorry to trouble u again ....

can u pls post the weekly chart again with detailed counts .... i am bit lost with the countings ... where does the count 1 begin , and working backwards , the A,B, C ... ?

while at it , how about the daily chart u mentioned ?

thanks .
  • #25,551
  • Sep 20, 2013 9:24pm Sep 20, 2013 9:24pm
Quoting TheArcher
{quote} sorry to trouble u again .... can u pls post the weekly chart again with detailed counts .... i am bit lost with the countings ... where does the count 1 begin , and working backwards , the A,B, C ... ? while at it , how about the daily chart u mentioned ? thanks .
Wave 1 starts at top. I had same count as alluded to previously, although I share the same trepidation that will be confirmed or denied soon.

From memory, I had 1023 as target with possibility of extension as it is commodity.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #25,552
  • Sep 20, 2013 9:56pm Sep 20, 2013 9:56pm
Thanks for posting these - I love these kind of comparison analysis & charts / AND

LONG TERM charts are always welcome here!


Quoting Rag2RichesFX
Take from it what you will. Posted it because I have never seen this chart before, figured others may not have either From this presentation -- http://www.youtube.com/watch?v=lOiQg...aG4ZPA3p6EXZbQ real estate vs gold logarithmic {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,553
  • Sep 21, 2013 3:21am Sep 21, 2013 3:21am
Quoting SunTrader
{quote} Thanks. Looks good. But myself I don't bother with SuperCycle very long term wave counts and fugehtaboutit Wave X's, Y's and W's.

I too more focus on the daily chart and 4 hr chart,weekly chart will help me to clear my mind more.
  • #25,554
  • Sep 21, 2013 3:25am Sep 21, 2013 3:25am
My daily chart.
Attached Image (click to enlarge)
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  • #25,555
  • Sep 21, 2013 3:45am Sep 21, 2013 3:45am
looks like gold will either goto 1269 or 1236, silver will go under 19.20.
  • #25,556
  • Sep 21, 2013 4:12am Sep 21, 2013 4:12am
Quoting fxjay
My daily chart.{image}
according to your ewp count gold is now just in a new waves trend. Isn'it?
Per aspera ad astra
  • #25,557
  • Sep 21, 2013 4:26am Sep 21, 2013 4:26am
Gold chart analysis... Possibly good buy for long term...
Attached Image (click to enlarge)
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  • #25,558
  • Sep 21, 2013 5:14am Sep 21, 2013 5:14am
Quoting jpadvisor
{quote} according to your ewp count gold is now just in a new waves trend. Isn'it?

yes, daily wave 1, 4 hr wave 5, 1 hr wave 1(I think should end, should see retracement soon).
  • #25,559
  • Sep 21, 2013 8:11am Sep 21, 2013 8:11am
Quoting fxjay
looks like gold will either goto 1269 or 1236, silver will go under 19.20.
or not.

if it's ew, there's always an "alternate". isn't there?
  • #25,560
  • Sep 21, 2013 9:14am Sep 21, 2013 9:14am
Quoting cg uno
{quote} or not. if it's ew, there's always an "alternate". isn't there?
I believe if the counting is right, there will be only fib % difference not direction difference.
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