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

  • #25,561
  • Sep 21, 2013 10:44am Sep 21, 2013 10:44am
Quoting fxjay
{quote} I believe if the counting is right, there will be only fib % difference not direction difference.

that would be "IF" .........
  • #25,562
  • Sep 21, 2013 11:09am Sep 21, 2013 11:09am
Quoting cg uno
{quote} or not. if it's ew, there's always an "alternate". isn't there?
Yes that is true. But true of any other way of analyzing markets that I know.

If not this then that. But always make sure to have a stop in place.
  • #25,563
  • Sep 21, 2013 11:20am Sep 21, 2013 11:20am
Another way of looking at waves is to find one that is an overbalance of either or both time and price of a previous wave.

Chart shows the two most recent downswings (note the two up swings were nearly equal 16 days +14.16%, 15 days +12.64%) that are 11 days -5.56% and so far current swing 17 days -7.59%

So that is 6 days longer and -2% lower as of Friday. which is yet another confirmation especially the longer this swing goes, that the downtrend should continue .... probably much lower.
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  • #25,564
  • Sep 21, 2013 11:32am Sep 21, 2013 11:32am
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 .
Both together Daily with ABC Wave 4 which is the same Wave 4 on weekly. But I am thinking more and more that ABC is just wave A of 4 and the complete ABC. We shall see:
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  • #25,565
  • Sep 21, 2013 1:00pm Sep 21, 2013 1:00pm
still down
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  • #25,566
  • Edited 2:47pm Sep 21, 2013 2:37pm | Edited 2:47pm
Quoting sirji
still down {image}
You are just assuming at best no matter what any indicator tells you.

The fundamentals are strong, yet the MID TERM trend is bearish, short term bullish - I don't do "tick or minute trading so" - long term bullish.

This is at best an expected and pre - posted about correction and profit taking.

If there was strong enough news to follow up the week we would have closed below 1300 without a doubt.

Yet we are in a block support 1325/35 support zone it will go either way.

EDIT: this is a 15 minute chart. I think it may begin -as there are many new members for people to post what there calls, reasonings, are and why so on WHAT TIME FRAME they are trading with what target TF or rather zone of PRICE.
Look at a daily and you will see new recent higher highs and HIGHER LOWS>
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,567
  • Sep 21, 2013 2:43pm Sep 21, 2013 2:43pm
Just cause you are new and welcome, I am going to either respond myself or search the thread for prior correlation charts posted by myself, KADC and SunTrader.

which will answer this question.

Extensive research has been done "or enough so to get us to conclusion" here that there is no BEST WAY to peg gold.

The best way to trade it is learn the fundamentals drivers, then the technicals and what specific news it reacts to largely.

SO do NOT peg it ever so strongly to one financial instrument because in the end the correlation will indeed break down and you will be
left holding your head in your hands trying to figure out who, what, why, how. = When you should know.

Will revisit

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.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,568
  • Sep 21, 2013 2:54pm Sep 21, 2013 2:54pm
Everyone wants GOLD!!! --- LOL even in another report I read the supply of the "silver" new iPhone was larger in ALL stores than the "GOLD" model. I'll try and find it --- as it was MUCH better than this one.....


So someone at APPLE is definitely up on their Gold and Silver fundies and price action!

IN any case here's the article: via REUTERS



Throngs greet Apple's newest iPhones, gold color sells out

Quote
The gold-colored version of the 5S, which also comes in silver and gray, was already sold out as of Friday and will now ship only in October, according to Apple's website. The gray and silver versions can still ship in 7 to 10 days.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,569
  • Sep 21, 2013 3:00pm Sep 21, 2013 3:00pm
Quoting sirji
still down {image}
Risky trade here and here is my advice,
Which you might not want it, but I will point it out, this is a risky trade, even looking at your Ichi Clouds.

You had the opp to short at 1365/74 area especially after a day of range through all markets with no clear break through into the 80's that would have been a safer short, with a tight stop at say 10 bucks above the resistance "daily and the new high" to get in. Then put the TP 50% or trail it if you are day trading with only a TIGHT trail meaning tight to the stop.
There has been soo much noise on the charts you have to take into account 10 USD normal fluctuations in price.

TP 1 would already be hit @ 50% next tp two should be locked in at be +5 USD "for Me" and on to see if she retraces fully - or with a tight trail towards the PA.

So if you are knocked out on a gap up you are still making profit.....

Just two extra pennies.

Also your RSI is low and at BUY signal for me now, I don't wait or trust lagging indies instead or over Price Action.


Suggestion is to mark your support and resistance, areas for your selected time frame, then if you have a breakout! north plan to the next interim or breakout support area. with a stop accordingly, or sell, on an immediate 5 USD break of support which we had.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,570
  • Sep 21, 2013 3:36pm Sep 21, 2013 3:36pm
Quoting fxjay
{quote} I don't care what feds are talking about, just based on my EW counting.
That's great! Yet, If you want to successfully trade Gold and Silver - And Some may disagree with me - especially my buddy ST! -

YOU SHOULD at leasT KNOW, WHAT THE FED DOES!!!!!!!!!!!

What if the fed COMES at one of your "suggested waves north" YET ROCKS the USD UP and PLUMMETS GOLD?????? What then?

EW or any technical analysis will drive the market when the fundies and/or/ OR BOTH are set, then fine,
yet when things run awry in this world, as they are now, markets, don't tend to make sense, NOR does PRICE ACTION Care about a 5 YEAR TREND LINE,

Gold will range right through it,

Just like when EW traders have adverse price movements "THIER WAVE COUNT" just changes all of a sudden to adopt the aforementioned action and they either
start over or try to re-incorporate something that MAKES NO SENSE - INTO a supposed "Logical" way of reading the market. Which is exactly the reason why I don't
use EW and have NO desire to learn more than I have.

Yet, even when you plot your own S/R levels on GOLD AND SILVER and use FIBOS on major swings they, JUST happen TO MATCH UP! WITHIN a few dollars range!!!
I will execute the above idea and show you exactly what I mean while EW traders re- arrange their abcs, 123s, & xyzs to make it fit the current factor of PRICE!

There are recent FAILURE of support and resistance charts on this thread, just keep reading back and scanning the pages.
I don't see many EW trader's coming forth saying they used this technique on gold and they just made a boat load of money on trading the FOMC.

I got in the FOMC on PURE PRIOR PRICE ACTION - ALONE. I know my supports- I know my TPs bY heart. SO I know my stop / order placement.

EW to me is likely the most LAGGING Technical analysis system in use today. Hey As I said U guys wanna post it here - silver gold oil / cable/ fibre/ brent/ wti -
go ahead.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,571
  • Sep 21, 2013 4:21pm Sep 21, 2013 4:21pm
Inserted Video


Great info from peter schiff
Risk comes from not knowing what you're doing.
  • #25,572
  • Sep 21, 2013 5:39pm Sep 21, 2013 5:39pm
Schiff is full of it.

He has been beating against the biggest hedge fund in the world and losing.

That biggest hedge fund, the U.S. Federal Reserve.
  • #25,573
  • Sep 21, 2013 5:42pm Sep 21, 2013 5:42pm
X,

I always follow the Fed come on man , not the Fed rumors though.

That way I can't complain when the rumors are wrong as they often are. And also don't care if they are intentionally or incompetently wrong.

Sun
  • #25,574
  • Sep 21, 2013 7:01pm Sep 21, 2013 7:01pm
Quoting XTrade
{quote} That's great! Yet, If you want to successfully trade Gold and Silver - And Some may disagree with me - especially my buddy ST! - YOU SHOULD at leasT KNOW, WHAT THE FED DOES!!!!!!!!!!! What if the fed COMES at one of your "suggested waves north" YET ROCKS the USD UP and PLUMMETS GOLD?????? What then? EW or any technical analysis will drive the market when the fundies and/or/ OR BOTH are set, then fine, yet when things run awry in this world, as they are now, markets, don't tend to make sense, NOR does PRICE ACTION Care about a 5 YEAR TREND...

Thanks for your advices X, as I said before I don't care what fed says only to the rumors,I do follow FOMC and unemployment news,also if I am wrong,there will always have a stop loss for me to keep me clear of mind,to me when I trade I consider lost first,sorry my english not good maybe little hard to understand.
  • #25,575
  • Sep 21, 2013 7:03pm Sep 21, 2013 7:03pm
Quoting cg uno
{quote} that would be "IF" .........

yes, IF, IF NOT,then there will be always stop loss for me to keep me out.
  • #25,576
  • Sep 21, 2013 7:12pm Sep 21, 2013 7:12pm
Quoting fxjay
......,to me when I trade I consider lost first,.....
Smart man. One of the most common trading mistake is thinking first about the profit, not the loss.

And for some not even thinking about the possibility of a loss.
  • #25,577
  • Sep 21, 2013 7:15pm Sep 21, 2013 7:15pm
Quoting XTrade
{quote} That's great! Yet, If you want to successfully trade Gold and Silver - And Some may disagree with me - especially my buddy ST! - YOU SHOULD at leasT KNOW, WHAT THE FED DOES!!!!!!!!!!! What if the fed COMES at one of your "suggested waves north" YET ROCKS the USD UP and PLUMMETS GOLD?????? What then? EW or any technical analysis will drive the market when the fundies and/or/ OR BOTH are set, then fine, yet when things run awry in this world, as they are now, markets, don't tend to make sense, NOR does PRICE ACTION Care about a 5 YEAR TREND...

I also agree with you that EW sometimes will not work,eg, when 2008-2011 gold,I find out that when it went to history high,EW will lost control keep telling you to go south, until it is actually settle from the top 1920-1526,then EW seems to get in to track,maybe that explain why EW founder can predict the DOWS to 3888,not 14000.
  • #25,578
  • Sep 21, 2013 7:43pm Sep 21, 2013 7:43pm
Quoting SunTrader
{quote} Smart man. One of the most common trading mistake is thinking first about the profit, not the loss. And for some not even thinking about the possibility of a loss.
Agree with you.
  • #25,579
  • Sep 21, 2013 8:57pm Sep 21, 2013 8:57pm
I know - but I i did think you might like the rumors better lately.
Thanks for your re: buddy.
XT-

Quoting SunTrader
X, I always follow the Fed come on man , not the Fed rumors though. That way I can't complain when the rumors are wrong as they often are. And also don't care if they are intentionally or incompetently wrong. Sun
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,580
  • Sep 21, 2013 9:15pm Sep 21, 2013 9:15pm
Quoting fxjay
{quote} I also agree with you that EW sometimes will not work,eg, when 2008-2011 gold,I find out that when it went to history high,EW will lost control keep telling you to go south, until it is actually settle from the top 1920-1526,then EW seems to get in to track,maybe that explain why EW founder can predict the DOWS to 3888,not 14000.
likely so friend,

welcome,
XT-

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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