XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1294 | 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

  • #25,861
  • Sep 29, 2013 4:01pm Sep 29, 2013 4:01pm
Quoting XTrade
{quote} Are those the dates on the trades? I can see the levels of appx entry, what are the dates? looks like the 19th and the 25th? If so they are not too old. Personally, I wouldn't let the go into a loss. If it looks like we will test 1350 I would take some profit or all on a pullback of a break north. If you want to ride them and have an appropriate possible loss, then I actually would say not to close them at first test of 1350. It looks good that we will test it and due to the price action it seems we have a better shot this time around than...

Xtrade, those were my entries around 1.350, i just gave entry order.

I've two lots from 1.375 area, i can face up some risk (but not too much) for 1.350 area.

And if prices wont seem like breaking 1.315 i will close my positions (hope pa moves to south for that )
Attached Image (click to enlarge)
Click to Enlarge Name: h1.jpg Size: 140 KB
  • #25,862
  • Sep 29, 2013 4:56pm Sep 29, 2013 4:56pm
too late to figure out this head and shoulder formation. any views?

P.S. - used hbkarakas chart .. Too lazy
Attached Image (click to enlarge)
Click to Enlarge Name: h2.JPG Size: 85 KB
A trade should be based on an assumption based on facts
  • #25,863
  • Edited 5:20pm Sep 29, 2013 5:09pm | Edited 5:20pm
Well, If they are orders, which I suppose is too late now, I would have killed them on Friday's close,
In my bolded quote below, (just went out for a walk and I have to say I am pleased to come home to this! having had longs triggered last week on break of 1325)
I am sorry but this would constitute for things "GOING A BIT CRAZY out of the GATE on Aussie!"

Wow, appx 20 USD GAP north pushing the price already through 1350 once, Then it retreated so Gap or no gap on any chart is filled, but looks very suggestive to me..

Likely these are overflow orders getting filled from Friday's close....

EDIT: On second glance there was one flat candle for Today - Sunday the 30th so this cannot be an opening gap- otherwise price should have opened at the top of the high.

Unless I am missing some major world event, there is no news that is directly related to this as I can tell ATM. Just pure techs and specs.
certainly looks like a bullish pennant/flag complete on the M15...


Quoting XTrade
{quote} ----------------- Even if we were to test it then slide all the way back to say 1315 to seal 1300 further as support, you could try and close there and if there is no break of 1315 and 1330 on an upcoming break to 1350 I would close them... A little too soon to tell. Wait at least till Monday NY / London cross/ NY close. Unless of course things go crazy on Aussie. (Even when they do, they usually correct, for a second chance entry/exit) Just My Opinion here. Hope it helps. XT-
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 26.png Size: 124 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,864
  • Sep 29, 2013 5:11pm Sep 29, 2013 5:11pm
Looking back now I see two fifteen minute dashes (or flat price bars)

so I suppose this is not a Gap out of the gate and this might not even be order flow, It could be spec buying on no downside that created a gap in a thinner market then triggered buy stops as resistance got crushed.......

Hmmmm.

If my charts are correct ONE dash is from the 28th and the other from today the 30th... so it could be either scenario...
Likely the latter - pouncing on a flat unchanged price from Friday's close suggesting more bullish movement.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,865
  • Sep 29, 2013 5:17pm Sep 29, 2013 5:17pm
XTrade● - so I suppose this is not a Gap out of the gate and this might not even be order flow, It could be spec buying on no downside that created a gap in a thinner market then triggered buy stops as resistance got crushed.......

you mean, stop loss for new orders was hit?
1352 looks like the resistance on H1 chart
did anyone notice the H&S on 1H chart?
A trade should be based on an assumption based on facts
  • #25,866
  • Sep 29, 2013 5:19pm Sep 29, 2013 5:19pm
Pending short done @1350

waiting for 1280

its not promising on the daily but tge 4h chart shows a good resistance @1352ish

if that hold with 1375 --- 1280 is in reach
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 139 KB
  • #25,867
  • Sep 29, 2013 5:33pm Sep 29, 2013 5:33pm
Quoting Mave
XTrade● - so I suppose this is not a Gap out of the gate and this might not even be order flow, It could be spec buying on no downside that created a gap in a thinner market then triggered buy stops as resistance got crushed....... you mean, stop loss for new orders was hit? 1352 looks like the resistance on H1 chart did anyone notice the H&S on 1H chart?

It's very hard to say, I am down to an M1 chart now, and it looks like on the second MINUTE, the chart bounced,
AND I AM INCORRECT ABOUT NEWS.....

WE ARE 30 HOURS AWAY FROM A PARTIAL US GOVERNMENT SHUTDOWN!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,868
  • Sep 29, 2013 5:35pm Sep 29, 2013 5:35pm
Quoting Mave
XTrade● - so I suppose this is not a Gap out of the gate and this might not even be order flow, It could be spec buying on no downside that created a gap in a thinner market then triggered buy stops as resistance got crushed....... you mean, stop loss for new orders was hit? 1352 looks like the resistance on H1 chart did anyone notice the H&S on 1H chart?

I have not seen it, yet any H&S on the Hourly will likely be Negated by the LARGER one that has been forming INVERSELY on the DAILY for months now.
These patterns are always more powerful than smaller ones that take place. If it is a true H&S over days on the hourly please post a chart.

not sure what you are referring to here mate, be happy to take a look though.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,869
  • Edited 5:51pm Sep 29, 2013 5:38pm | Edited 5:51pm
Quoting Bo_fajer
Pending short done @1350 waiting for 1280 its not promising on the daily but tge 4h chart shows a good resistance @1352ish if that hold with 1375 --- 1280 is in reach {image}
and XTrade

can you check the Fibonacci from 19/09 to 24/09 on H1 chart and bear trendline on H4.. points out the 1350 level.. so the buys might have TPed and it bounced?
also.. does a close over 50% fibo level qualify as a buy?

i posted a chart an hour ago :/
A trade should be based on an assumption based on facts
  • #25,870
  • Sep 29, 2013 5:59pm Sep 29, 2013 5:59pm
Quoting Bo_fajer
Pending short done @1350 waiting for 1280 its not promising on the daily but tge 4h chart shows a good resistance @1352ish if that hold with 1375 --- 1280 is in reach {image}

What is your reasoning for a 100 USD drop off a new High you are suggesting off of 1375.
1352 is basically an arbitrary number/ level there is no true resistance there, -

I think mave has a point here that some resting longs likely took profit @ 1348 thru 52 just as trigger #s above and below 1350 as a round #.

The truer resistance area starts at 1360 so to be confident in a high above that at 1375 (which in my view would easily suggest a retake of 1400)
seems to negate a fall even below 1330 let alone a low of 1280. We hit 1180 on the smackdown, we were in the 12s, visited sub 1300 a few times, now the price
"seems" to have some direction.

But, the more major driver here to be wary of is what happens with the US Gov.
Likely they will make up some sort of BVLLSH!T agreement to appease the people. But, the writing is on the wall now.

I am not disputing your claim, I just don't see how it works,
"technically"
or fundamentally.
Please elaborate when possible.
Thanks,
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,871
  • Sep 29, 2013 6:01pm Sep 29, 2013 6:01pm
Quoting Mave
{quote} and XTrade can you check the Fibonacci from 19/09 to 24/09 on H1 chart and bear trendline on H4.. points out the 1350 level.. so the buys might have TPed and it bounced? also.. does a close over 50% fibo level qualify as a buy? i posted a chart an hour ago :/
I'll take a look after dinner. Take a look at some cable news if you have it. or financial channels to see what the "rumors" are about the US Gvmt.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,872
  • Edited 9:03pm Sep 29, 2013 6:03pm | Edited 9:03pm
50%fibo holds yet again (Sep 29, 2013 7:05pm) and (Sep 29, 2013 8:03pm)
A trade should be based on an assumption based on facts
  • #25,873
  • Sep 29, 2013 6:44pm Sep 29, 2013 6:44pm
Quoting Mave
50%fibo holds yet again cable as in gbp/usd?

I assume you are meaning the High around 1.6150? that is upon retest??

Not sure what fibo you are talking about, but I would not be surprised, actually after target one- posted in beeb's thread was met at 6050 from 5800 I am betting on target two 6150 getting crushed soon.

LT next cable target .6500
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,874
  • Edited 7:20pm Sep 29, 2013 6:52pm | Edited 7:20pm
Quoting XTrade
{quote} I'll take a look after dinner. Take a look at some cable news if you have it. or financial channels to see what the "rumors" are about the US Gvmt.



I APOLOGIZE!!! Go figure talking on a currency forum! When I said "cable" news I meant NON- NETWORK TELEVISION NEWS.
here in the US, "cable" is also a form of Television provider means, other than satellite or computer.

I knew the Government Health care bill and DEFICIT Spending increase were on the docket, yet I didn't realize we were 30 hours away,
so when I said "cable news" that is what I meant!!!! Not the currency pair GBP/USD!

I appreciate your due diligence though! And yes "cable TV" comes from a fiber-optic cable as of recent, the term cable is from a telegraph line under the atlantic ocean that used to send prices back and forth from the US to UK for "Cable" hence the FX pair term CABLE for GBP/USD and later the retail trader term FIBRE or Fiber for Euro. (du to it being a new currency as well new technology used like fibreoptics/ satellites / etc/)
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,875
  • Sep 29, 2013 7:23pm Sep 29, 2013 7:23pm
Quoting Mave
{quote} and XTrade can you check the Fibonacci from 19/09 to 24/09 on H1 chart and bear trendline on H4.. points out the 1350 level.. so the buys might have TPed and it bounced? also.. does a close over 50% fibo level qualify as a buy? i posted a chart an hour ago :/
Mave do you have a chart for these buddy??

Or want to give me the appx swing low "i assume" on the 19th
and the
Swing High on the 24th?

Otherwise If I was pulling Down for a retracement Up the fibo date of the high should be first and the pull point second date and swing Low.

Let me know whatcha got and I'll be happy to take a look.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,876
  • Edited 8:38pm Sep 29, 2013 7:32pm | Edited 8:38pm
Quoting Mave
too late to figure out this head and shoulder formation. any views? P.S. - used hbkarakas chart .. Too lazy {image}
This would be an INVERSE H&S - if I were to measure this it would appear that the NECKLINE is already broken AND THE pattern HAS ALREADY completed itself.

BEING LAZY WILL GET YOU BROKE QUICK IN THIS GAME.

C'mon Mave! I think you can do a bit better than this brother!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,877
  • Edited 8:02pm Sep 29, 2013 7:42pm | Edited 8:02pm
Quoting XTrade
{quote} Mave do you have a chart for these buddy?? Or want to give me the appx swing low "i assume" on the 19th and the Swing High on the 24th? Otherwise If I was pulling Down for a retracement Up the fibo date of the high should be first and the pull point second date and swing Low. Let me know whatcha got and I'll be happy to take a look.

This fibonacci.

thanks for clearing the doubt i had on H&S and the advice..

i think close over fibonacci would be a buy but a close over previous candle would be a better entry. what do you think?
another hourly close below 50 level..
Attached Image (click to enlarge)
Click to Enlarge Name: gold1.2.JPG Size: 91 KB
A trade should be based on an assumption based on facts
  • #25,878
  • Sep 29, 2013 8:41pm Sep 29, 2013 8:41pm
Quoting Mave
{quote} This fibonacci. thanks for clearing the doubt i had on H&S and the advice.. i think close over fibonacci would be a buy but a close over previous candle would be a better entry. what do you think? another hourly close below 50 level.. {image}

OK great thanks for posting - takes the guesswork out - NP-

I will post you the INVerse H&S I am looking at now. It's not that your effort was in vein it is just that often price action can be confused for a head n shoulders,
OR,
When we WANT to find a H&S we can seem to create one out of just about any scenario... I know I have done it in the past.
Lastly sometimes the pattern is CLEARLY there, Yet it just either fails or negates itself by a certain behavior....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,879
  • Sep 29, 2013 8:41pm Sep 29, 2013 8:41pm
We have been fighting this level for a lnog time now. Lots of fake outs on a confluence heavy resistance:

- 4h 100sma
- top of the rising wedge
- 50F of the last leg down
-38.2F of the entire move down

I think itīs fine to sell this rally for a small position util we get further indications on the definite direction. Up until now is speculation.

http://i.imgur.com/Jxv9NBj.jpg
  • #25,880
  • Edited 10:30pm Sep 29, 2013 10:18pm | Edited 10:30pm
50% fibonacci retracement every time (close) and rebound from the trendline..

help on entry for short please..

waiting for my inverted H&S chart

[does this after being inspired by XTrade's words ]
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold 3.JPG Size: 108 KB
Click to Enlarge Name: gold2.JPG Size: 138 KB
A trade should be based on an assumption based on facts
106 traders viewing now