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

  • #26,201
  • Oct 6, 2013 6:42pm Oct 6, 2013 6:42pm
Quoting Mr. Scott
{quote} Sorry bro, not sure he is going to get it. I think he is the first to ignore me, seems like I am in good company. Ignored (9) SunTrader Mr. Scott rythmrig {image} attila {image} RawD {image} USD-Bear [url=http://www.forexfactory.com/cg*uno]{image}...



hi Scott!

I see your previous chart has some gartleys showing another low. It will be interesting to see where PA goes this week, because Gold is seemingly ignoring the rosy fundamental picture!
cryptocurrency everytime
  • #26,202
  • Oct 6, 2013 7:37pm Oct 6, 2013 7:37pm
interesting read (even though i didn't get half of it -.- )

http://www.caseyresearch.com/article...-economic-news
A trade should be based on an assumption based on facts
  • #26,203
  • Oct 6, 2013 8:05pm Oct 6, 2013 8:05pm
Quoting Mave
interesting read (even though i didn't get half of it -.- ) http://www.caseyresearch.com/article...-economic-news
hi Mave,

i tried to read it but lost interest half-way, because "Don Quixote" is talking fundamentals from a by-gone era. He uses inflation expectations as the basis for the rise and fall of Gold. This is just not true. It may have been the case in the 70s and it may have been on other occasions, but what led to the stellar Gold top in 2011? Fear of inflation? Not the case. So, his argument lost me there. The problem with fundamental analysis is the same stereotyping logic that surfaces in any reductionist thinking: this time is going to be the same as last time. Inflation fears led to the rise of the Gold price in the 70s; something other than the "fear of inflation" led to a Gold top in 2011. So only looking for inflationary fundamentals to predict a rise in the price of Gold is missing something. That's kinda stupid anyway. I can't read it.

I am not berating you for the content of the article, though. Thanks for posting.
cryptocurrency everytime
  • #26,204
  • Oct 7, 2013 12:40am Oct 7, 2013 12:40am
Quoting venzen
{quote} hi Mave, i tried to read it but lost interest half-way, because "Don Quixote" is talking fundamentals from a by-gone era. He uses inflation expectations as the basis for the rise and fall of Gold. This is just not true. It may have been the case in the 70s and it may have been on other occasions, but what led to the stellar Gold top in 2011? Fear of inflation? Not the case. So, his argument lost me there. The problem with fundamental analysis is the same stereotyping logic that surfaces in any reductionist thinking: this time is going...

No problems man..
I said it, I don't really get that article. So, posted to get the views of more experienced people here. Now that you know my position, I have a question - what happens to gold prices when inflation does come because he mentions, in the article, "Milton Friedman was right after all—if you print the money, eventually you're going to have the inflation."
A trade should be based on an assumption based on facts
  • #26,205
  • Oct 7, 2013 1:43am Oct 7, 2013 1:43am
come on dive
  • #26,206
  • Oct 7, 2013 2:34am Oct 7, 2013 2:34am
Quoting alam88009
come on dive
Gold is slowly but surely ranging lower & lower. Target for the day...1302 followed by 1285.
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Money Makes Money
  • #26,207
  • Oct 7, 2013 2:49am Oct 7, 2013 2:49am
I agree. I´m actually small short from here to a retest of previous lows

http://prntscr.com/1vsega
  • #26,208
  • Oct 7, 2013 4:03am Oct 7, 2013 4:03am
Quoting Mr. Scott
{quote} Sorry bro, not sure he is going to get it. I think he is the first to ignore me, seems like I am in good company. Ignored (9) SunTrader Mr. Scott rythmrig {image} attila {image} RawD {image} USD-Bear [url=http://www.forexfactory.com/cg*uno]{image}...



To me it is just silly! Especially here due to the fact that I am the OP of the thread!

I lifted his ban twice already to be fair and honor the current rules I made.

Multiple people in various threads have complained and asked the same thing, for an explanation. Yet it seems to do no good.
Usually, he would have been banned permanently by now, yet, somehow a new poster to the thread
"venzen" - By the way welcome to you sir ----- SOMEHOW managed to get him to post "a chart" whether it is his I have no clue.

In any case there are only a few scenarios left.
Perma Ban by myself - The matter is brought out of my hands and given to the SuperMod. (Twee)
or the poster, changes his ways.

For some reason I don't see the last option panning out..

Cheers Mr Scott
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,209
  • Oct 7, 2013 4:13am Oct 7, 2013 4:13am
Quoting KiwiOz
{quote} Gold is slowly but surely ranging lower & lower. Target for the day...1302 followed by 1285. {image}

There are lots of possible scenarios, pros, amateurs, veterans etc., are trying to figure out.

The safest and most evident theme right now is neutrality. If you have any long term trades I would TP some and hold the rest above BE before OCT. 17th. Depending on entry...

For the shorter term traders, best to keep things "quick and sweet" - Sure the chart has ground to make up mainly by way of eliminating or breaking downside TLs,
so until then there will be a mid term bias to the downside. Yet, what the chart says is right now we are going sideways.

Even with the downside bias, on the last significant dips, we have not hit 1200 or sub - or for that matter 1275.
--->I will be posting a chart later in the day of an appx 300 USD range with strong and interim s/r levels as well as a five hundred USD range appx.

What's important to recognize to the downside, around supports, there are plenty of physical buyers and Government demand ie: India / China, etc. ready to step in and buy metal at a discount. So as steep as they were in April etc, the downside risk has been limited.

Likewise going north, at stronger resistances - if not already placed - there are spec sellers, ready to try and push the price back down on any sign of lost steam by the bulls, or just a strong enough resistance to cross without significant buying.

See you guys later.
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,210
  • Oct 7, 2013 4:16am Oct 7, 2013 4:16am
Quoting XTrade
{quote} To me it is just silly! Especially here due to the fact that I am the OP of the thread! I lifted his ban twice already to be fair and honor the current rules I made. Multiple people in various threads have complained and asked the same thing, for an explanation. Yet it seems to do no good. Usually, he would have been banned permanently by now, yet, somehow a new poster to the thread "venzen" - By the way welcome to you sir ----- SOMEHOW managed to get him to post "a chart" whether it is his I have no clue. In any case there are...

hi XTrade, thanks for the welcome!

Well, I noticed this thread a few days ago and not knowing any history I added some comments and advice...

Gold is really zigzagging away and it would be good if it can get some direction! No more major news today so it's going to take breaking news - else wait it out i guess...
cryptocurrency everytime
  • #26,211
  • Oct 7, 2013 7:04am Oct 7, 2013 7:04am
Gold at a critical zone, one more rejection from the trendline and i will be looking for 1279 and if PA closes above trend line next target would be 1348, im not biased but i see the probability of price moving to 1279 is higher than it getting to 1348!
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  • #26,212
  • Oct 7, 2013 7:54am Oct 7, 2013 7:54am
will read this later tonite

http://srsroccoreport.com/the-calm-b...-metals-storm/
  • #26,213
  • Oct 7, 2013 9:07am Oct 7, 2013 9:07am
nice 12$ jump...
hope it holds till 1340
  • #26,214
  • Oct 7, 2013 9:09am Oct 7, 2013 9:09am
phenomenal selling pressure above 1320, but it appears to be making higher highs and higher lows on 1H and 4H.
"Where you want to be is always in control, never wishing, always trading.
  • #26,215
  • Oct 7, 2013 9:15am Oct 7, 2013 9:15am
check out the bull candle on H4 before the previous big drop and the current high on H4
A trade should be based on an assumption based on facts
  • #26,216
  • Oct 7, 2013 9:41am Oct 7, 2013 9:41am
I haven't posted in awhile.. been busy with a new class of students. (Kindergarten)... Getting ready for Halloween. Bua ha ha ha ha ! However, I have still kept an eye on the markets.. especially gold. Been practicing holding it for 2 or three weeks at a time. I am starting to think that gold is good for position trading. Especially since I am not good at scalping. Anyways... on my charts. I think that gold is in no man's land. On my 2 hour chart it kind of reminds me of a picture on a deck of cards almost. I say that because I see a some big heads that could indicate either direction if it breaks. Of course if I look at the daily or the weekly... the daily looks like it is closer to a strong support level than a strong resistance level. On the weekly it looks look like it could be a strong bull if it continues up. The daily and weekly PA seem to contradict each other in my view. Also, I don't see much action on the FA side into the first few days of this week. Granted it is Monday night for my location as I am typing this. I do think that with the holidays just around the corner. A lot of good economic data will come out due to the holiday shoppers.. This happens every year.. Wow...the economy is rebounding.. After January... Wow why did it tank again? lol just kidding.

Anyways... just my view.
Luck has no place in trading. Leave that for the poker table.
  • #26,217
  • Edited 12:45pm Oct 7, 2013 12:24pm | Edited 12:45pm
Looks like today is set for a gain.. Flirting with breach of 1325.. Should it break this week then in the immediate topside we have 1333 area, smaller rez,
then 1350 zone.

So let's see.

NY chart below/ all and all we are still just in range...
--------------------------

Here is a webinar from beeb if you guys are interested or "Ben @ cohglancapital.com"
It's at noon EST and is FX only for tomorrow. https://www4.gotomeeting.com/register/653692247
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,218
  • Oct 7, 2013 12:45pm Oct 7, 2013 12:45pm
stocs overbought ?
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  • #26,219
  • Oct 7, 2013 12:45pm Oct 7, 2013 12:45pm
Quoting XTrade
Looks like today is set for a gain.. Flirty with breach of 1325.. Should it break this week then in the immediate topside we have 1333 area, smaller rez, then 1350 zone. So let's see. NY chart below/ -------------------------- Here is a webinar from beeb if you guys are interested or "Ben @ cohglancapital.com" It's at noon EST and is FX only for tomorrow. https://www4.gotomeeting.com/register/653692247 {image}
hey mate, according to my chart (i posted the same chart several times earlier), Gold has broken the trend line it's been rejecting since 27th August on a 4H (acting as a resistance), i see gold quite bullish for the time being with a possible target of 1349.

i'm not longing it yet because of the RR! if i would set a long, my SL has to be at least at 1300 and if the target is 1350 then we are talking about 1:1, which isnt convincing for me! ill wait for the PA to test the same trend line (act as a support) and get rejected (possibly around 1315) and then take a long.

All the best
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  • #26,220
  • Oct 7, 2013 12:57pm Oct 7, 2013 12:57pm
Thanks xtrade for sharing the link of beeb's webinar.. i m missing his fork charts.

Quoting XTrade
Looks like today is set for a gain.. Flirting with breach of 1325.. Should it break this week then in the immediate topside we have 1333 area, smaller rez, then 1350 zone. So let's see. NY chart below/ all and all we are still just in range... -------------------------- Here is a webinar from beeb if you guys are interested or "Ben @ cohglancapital.com" It's at noon EST and is FX only for tomorrow. https://www4.gotomeeting.com/register/653692247 {image}
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