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

  • #25,881
  • Edited 12:26am Sep 30, 2013 12:13am | Edited 12:26am
will it repeat a divergence again for some 20pips down ?

at the same time, i am staring at that spike of 1352 : will it nullify the divergence ?

KADC , what is ur take ?

----------------------------------------------
greenish = weekly chart trendline (my previous post)

blue = hourly chart trendline
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  • #25,882
  • Sep 30, 2013 12:59am Sep 30, 2013 12:59am
Quoting TheArcher
will it repeat a divergence again for some 20pips down ? at the same time, i am staring at that spike of 1352 : will it nullify the divergence ? KADC , what is ur take ? ---------------------------------------------- greenish = weekly chart trendline (my previous post) blue = hourly chart trendline {image}
Hourly RSI is falling to meet the rising RSI support line (connect the lows of the 24th, 26th, 27th) or 50 which is a very reactive level for gold. RSI could find support without breaching the midline of your blue price channel so I wouldn't make a short trade on the expectation of channel support being retested. I'd rather go long from the midline or from channel support if the midline is breached and/or hourly RSI support and keep playing the channel. One could also short from channel resistance but I prefer to scalp in the direction of the trend which is bullish unless this channel is breached to the downside.

As long as the debt ceiling remains an issue in the US and Italy is causing problems for the Eurozone we're in a risk-off environment which this time around is good primarily for the Pound, between positive and indifferent for the Yen, and bad for just about everything else though gold and silver could become safety plays as has been the case in the past but not something I would want to bank on.

I'm long Pound vs. everything and long gold unless the bottom of the channel is breached.
You can always make money tomorrow provided you don't lose it today.
  • #25,883
  • Sep 30, 2013 1:01am Sep 30, 2013 1:01am
another possible setup.. considering the looming shutdown
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A trade should be based on an assumption based on facts
  • #25,884
  • Sep 30, 2013 2:45am Sep 30, 2013 2:45am
Quoting TheArcher
will it repeat a divergence again for some 20pips down ? at the same time, i am staring at that spike of 1352 : will it nullify the divergence ? KADC , what is ur take ? ---------------------------------------------- greenish = weekly chart trendline (my previous post) blue = hourly chart trendline {image}

I m waiting for the confirmation of divergence on H1.

If so my target will be 1320-1315 area.
  • #25,885
  • Sep 30, 2013 2:54am Sep 30, 2013 2:54am
Hey Everybody, I suggest you should trade on m15 blank time frame. trade what you see not what you think. cut greedy and fear also cut loss. limit risk high return. thanks
I want to be rich.
  • #25,886
  • Sep 30, 2013 4:30am Sep 30, 2013 4:30am
1345-1352 zone held nicely. I have a feeling that we will break out of that channel soon.
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  • #25,887
  • Sep 30, 2013 5:22am Sep 30, 2013 5:22am
Quoting Scalptastic
1345-1352 zone held nicely. I have a feeling that we will break out of that channel soon. {image}


Scalptastic,
Why do you feel channel break out? H1 rsi is diverging with the price moves.
Seems like movement to north is losing its power.
So why channel break out ?
  • #25,888
  • Sep 30, 2013 5:26am Sep 30, 2013 5:26am
Interesting factoid from a guest on BNN (Business News Network) Thursday: Goldman Sachs increased their holdings in GLD to 30% shortly before their announcement that gold was going down. i.e. Goldman Sachs now owns approximately one third of the worlds largest gold ETF while telling everyone else to sell.

Knowing that, do you want to do what Goldman Sachs says or what Goldman Sachs does?
You can always make money tomorrow provided you don't lose it today.
  • #25,889
  • Sep 30, 2013 5:28am Sep 30, 2013 5:28am
Quoting Scalptastic
1345-1352 zone held nicely. I have a feeling that we will break out of that channel soon. {image}
Just be sure to trade the actuality of gold breaking out of the channel (or not), not your feeling that it will.
You can always make money tomorrow provided you don't lose it today.
  • #25,890
  • Sep 30, 2013 5:35am Sep 30, 2013 5:35am
Quoting hbkarakas
{quote} Scalptastic, Why do you feel channel break out? H1 rsi is diverging with the price moves. Seems like movement to north is losing its power. So why channel break out ?

Just my view on PA. If we break below 1332 then it will move back bottom of the channel. Looking to go long from 1325-1322
  • #25,891
  • Sep 30, 2013 5:36am Sep 30, 2013 5:36am
Quoting KADC
{quote} Just be sure to trade the actuality of gold breaking out of the channel (or not), not your feeling that it will.

I never execute trade based on my opinion or feeling. Only if I get a proper signal.
  • #25,892
  • Sep 30, 2013 5:37am Sep 30, 2013 5:37am
I've got 1 long @1338 target 1350 without sl and I'm ready to blow up my account.
I want to be rich.
  • #25,893
  • Sep 30, 2013 5:46am Sep 30, 2013 5:46am
Quoting eurusdthb
I've got 1 long @1338 target 1350 without sl and I'm ready to blow up my account.
Don't blow your account mate. This will go down to at least 1328.
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Money Makes Money
  • #25,894
  • Sep 30, 2013 6:35am Sep 30, 2013 6:35am
what will happend to gold if US GOVERNMENT SHUTDOWN??
  • #25,895
  • Sep 30, 2013 7:26am Sep 30, 2013 7:26am
Quoting KiwiOz
{quote} Don't blow your account mate. This will go down to at least 1328. {image} {image}
thank you for encourage me but man it is just barely touch the 1328.
I want to be rich.
  • #25,896
  • Sep 30, 2013 7:53am Sep 30, 2013 7:53am
Moment off true

will it break under 1326 or keep that support and shoot to 1400
cuz the DTL was tested so many times
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  • #25,897
  • Sep 30, 2013 8:02am Sep 30, 2013 8:02am
$xauusd breaking ascending wedge as we speak. I only see more down movement from here

http://i.imgur.com/SX2orp3.jpg
  • #25,898
  • Sep 30, 2013 8:06am Sep 30, 2013 8:06am
Close to1300
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  • #25,899
  • Sep 30, 2013 8:07am Sep 30, 2013 8:07am
http://img12.imageshack.us/img12/5959/8cfa.png

Awww, Gold is going to blow up my account.
I want to be rich.
  • #25,900
  • Sep 30, 2013 8:20am Sep 30, 2013 8:20am
Quoting KiwiOz
{quote} Don't blow your account mate. This will go down to at least 1328. {image} {image}
It ain't over yet. Solid support at 1317. Expect a good bounce. In fact my next target is 1320 so I will be watching it carefully then.
Money Makes Money
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