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

  • #26,801
  • Oct 17, 2013 12:42pm Oct 17, 2013 12:42pm
SPOT GOLD from WICK TO WICK High and low. ie: 1920 to 1180 daily.

Take a look at 50% fibo.
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 23.png Size: 195 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,802
  • Oct 17, 2013 12:50pm Oct 17, 2013 12:50pm
I'm short gold from 1322.68. I expect $100 drop in price from the present level.
See chart attached.
Meshach
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4_short.png Size: 39 KB
  • #26,803
  • Oct 17, 2013 1:04pm Oct 17, 2013 1:04pm
Quoting pipcenturion
I'm short gold from 1322.68. I expect $100 drop in price from the present level. See chart attached. Meshach {image}

For what reason do you expect this? Technically I don't see 1215. Fundamentally I see no support,

but please enlighten.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,804
  • Oct 17, 2013 1:08pm Oct 17, 2013 1:08pm
Quoting XTrade
SPOT GOLD from WICK TO WICK High and low. ie: 1920 to 1180 daily. Take a look at 50% fibo. {image}

If time keeps dragging on sideways as it has the major bearish line of concern will simply be rendered invalid,
just the same way my inverse HnS was.

These are not sustainable long term TLs. - notice the bounce of the major #1 UTL in my chart in green. again on correction we stay above par for the course.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,805
  • Oct 17, 2013 1:12pm Oct 17, 2013 1:12pm
XTrade , That's means we are now in the road of uptrend ?

*sorry for this question I am just wanted to confirm did my short position can be hold or i will just cancel it =] * Thanks
  • #26,806
  • Oct 17, 2013 1:16pm Oct 17, 2013 1:16pm
i can celled my position was sold @ 1313 ,,, i loss some but i opened buy direction @1322 ... i thought it going up
ideas plz
  • #26,807
  • Oct 17, 2013 1:19pm Oct 17, 2013 1:19pm
Quoting forexer11
i can celled my position was sold @ 1313 ,,, i loss some but i opened buy direction @1322 ... i thought it going up ideas plz
Your volum into a trade is ?

I guess currently no one can be said uptrend or downtrend yet . btw i wanted to know which road we are looking at already =D

Either Uptrend or Downtrend . Both side might happen I guess base on time and their manipulate
  • #26,808
  • Oct 17, 2013 1:21pm Oct 17, 2013 1:21pm
Quoting leedicky93
XTrade , That's means we are now in the road of uptrend ? *sorry for this question I am just wanted to confirm did my short position can be hold or i will just cancel it =] * Thanks
I don't like to tell people what they should or should not do,

YET - I will always give you what I would do based on your goal.

What is the entry and what is the target.

-------------------------------------

Also for position traders "trend" is a very subjective term. I base all trades of the weekly, daily and H1 - I don't use M1 at all for gold even when I scalp I'll use H1. To me there is no point in zooming in so far so that the REAL PRICE ACTION becomes skewed.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,809
  • Oct 17, 2013 1:26pm Oct 17, 2013 1:26pm
Quoting XTrade
{quote} I don't like to tell people what they should or should not do, YET - I will always give you what I would do based on your goal. What is the entry and what is the target. ------------------------------------- Also for position traders "trend" is a very subjective term. I base all trades of the weekly, daily and H1 - I don't use M1 at all for gold even when I scalp I'll use H1. To me there is no point in zooming in so far so that the REAL PRICE ACTION becomes skewed.
Okay , Sorry for asking it like that way =D .

I am into short 1322 and 1317 .

While looking into it that i feel it will goes back to 1310 before any others movement done on it yet .

My TP is around 1311 - 1313 =D
  • #26,810
  • Oct 17, 2013 1:32pm Oct 17, 2013 1:32pm
1550 does look a right cherry now that you look at it from outer space (weekly/ daily time frame)
And all those touches makes it a very SR heavy level
But aiming for that now its so far off, so much could happen and as is mentioned in this thread about manipulation, i thought we would be well beyond 1500 by now.

There is talk of 2000+ but would they allow that. I would love to fund an account and go long XAU and leave it, but it may go sideways or worse yet south for some time before reaching logical levels
  • #26,811
  • Oct 17, 2013 1:42pm Oct 17, 2013 1:42pm
Quoting JayPipin
1550 does look a right cherry now that you look at it from outer space (weekly/ daily time frame) And all those touches makes it a very SR heavy level But aiming for that now its so far off, so much could happen and as is mentioned in this thread about manipulation, i thought we would be well beyond 1500 by now. There is talk of 2000+ but would they allow that. I would love to fund an account and go long XAU and leave it, but it may go sideways or worse yet south for some time before reaching logical levels

Jay,

manipulation up and down withstanding GOLD usually finds it's way back home to a somewhat fair market price or at least what supply and demand warrants.
that, taking all the Geopolitical twists and turns into consideration.

People like to forget that when GOLD hit 1920 the EUzone had country after country being bailed out of bankruptcy.

what will happen if the US goes belly up? 2000 seems reasonable price point =perhaps even low at that point.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,812
  • Oct 17, 2013 1:43pm Oct 17, 2013 1:43pm
Quoting JayPipin
1550 does look a right cherry now that you look at it from outer space (weekly/ daily time frame) And all those touches makes it a very SR heavy level But aiming for that now its so far off, so much could happen and as is mentioned in this thread about manipulation, i thought we would be well beyond 1500 by now. There is talk of 2000+ but would they allow that. I would love to fund an account and go long XAU and leave it, but it may go sideways or worse yet south for some time before reaching logical levels
"outerspace" is the only way I begin looking. Then maybe to h1 for day trading or preferably H4 / 240 min
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,813
  • Oct 17, 2013 1:44pm Oct 17, 2013 1:44pm
Short: 1322
Target: 1300
Stop: 1326
Trade with what you see, not what you feel.
  • #26,814
  • Oct 17, 2013 1:45pm Oct 17, 2013 1:45pm
Food for thought,

all my
LONGS:
CABLE,
EURO/U
Aussie
Kiwi - largest long

and shorts,
USD/CHF
USD/CAD

have been hit on the TP.

Only open trades are positions in Gold and silver.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,815
  • Oct 17, 2013 2:09pm Oct 17, 2013 2:09pm
NOT sure why you are apologizing. i just have to keep objective due to the fact that if I "tell you" what to do and not what I would do,
and I am wrong, I get too much flack.

Thus,


I don't like the trade but, you took it so let's deal.

I think you should LIKELY have 1 opportunity to get out at near to no loss.
Thus< Keep a TIGHT eye on PA and be wary of overnights. You might need to increase your stop. Yet if 1325 goes we are looking at 1333 next.

So, From what I've learned, like I said with an unsure trade the market is "USUALLY" forgiving enough to offer you a decent exit.

Now, take a look at today's PA.. You might have missed it, yet more often than not if the END NYC Session HOLDS the daily gain, there is some selling into asia.

HOWEVER> US Sentiment is VERY POOR ATM. SO, it could easily blow up and Aussie could add another 7 with asia another 10 so on and so forth.

So - Answer - Keep the tight stop, keep the trade on, wait and see if you get 1315 - IF YOU LOSE - write down where you went wrong and chalk it up to a learning experience.

If you are overleveraged or over "lotted" KILL IT -

If you don't know and it's eating at you KILL IT.

Just my 2 cents.
Hope it helps.
XT-

Quoting leedicky93
{quote} Okay , Sorry for asking it like that way =D . I am into short 1322 and 1317 . While looking into it that i feel it will goes back to 1310 before any others movement done on it yet . My TP is around 1311 - 1313 =D
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,816
  • Oct 17, 2013 2:12pm Oct 17, 2013 2:12pm
  •  KADC
  • Joined Apr 2012 | Status: Be unreasonable. | 897 Posts | Online Now
Quoting forexer11
i can celled my position was sold @ 1313 ,,, i loss some but i opened buy direction @1322 ... i thought it going up ideas plz
Price seems to be drifting up in both gold and silver implying the day may end with a wick-less candle so you'll likely have a chance to get out without or at worst a very minor loss or at least place a reasonable stop if you want to maintain your long position and are concerned about how far it may fall before continuing upwards.

Going forward, always wait for the pull back before buying/selling hoping for a continuation of the day's trend. Always, ALWAYS wait for the pull back. Gold in particular likes to consolidate between the high or low of the primary move and the initial pull back after making the high or low before moving again. In this case, I wouldn't be surprise to see it bounce between $1,323 and $1,313, possibly dipping to $1,307 before making the next leg up if it continues upwards as you hope.

Also, always remember that no-one ever lost money by waiting to enter a trade so next time wait for the pull back.

Again, not that there is any guarantee gold will continue upwards, but $1,330 is 127% of the pull-back to day's high as well as the previous high before being pushed down to $1,252 so I would consider it to be my next higher target. Above that, $1,337 is 127% of today's entire move up, 168% of the pull back, and 38.2% of the full Jul-Sep move making it a key resistance level.

A break below $1,307, the 50% Fib of the Jul-Sep move would have me looking lower to $1,298, the 127% extension of the pull back-to-high, followed by a full reversal to the 61.8% of the Jul-Sep move at $1,277.

I'd have posted a chart but I shut everything down hours ago when I was intending to go to bed which is what I'm going to do right now.

Best of luck.
You can always make money tomorrow provided you don't lose it today.
  • #26,817
  • Oct 17, 2013 2:17pm Oct 17, 2013 2:17pm
Quoting XTrade
NOT sure why you are apologizing. i just have to keep objective due to the fact that if I "tell you" what to do and not what I would do, and I am wrong, I get too much flack. Thus, I don't like the trade but, you took it so let's deal. I think you should LIKELY have 1 opportunity to get out at near to no loss. Thus< Keep a TIGHT eye on PA and be wary of overnights. You might need to increase your stop. Yet if 1325 goes we are looking at 1333 next. So, From what I've learned, like I said with an unsure trade the market is "USUALLY" forgiving...
XTrade ,

Thanks for the share of your view and idea =D ,

Would learn more into it . Anyway thanks for the information =D
  • #26,818
  • Oct 17, 2013 2:25pm Oct 17, 2013 2:25pm
Quoting leedicky93
{quote} XTrade , Thanks for the share of your view and idea =D , Would learn more into it . Anyway thanks for the information =D

Anytime mate. Let's see - spot is 1320, keep an eye on 1316 and 1314 for further clues....!!!

Welcome!

XT
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,819
  • Oct 17, 2013 2:26pm Oct 17, 2013 2:26pm
Agreed!
Quoting KADC
{quote} Price seems to be drifting up in both gold and silver implying the day may end with a wick-less candle so you'll likely have a chance to get out without or at worst a very minor loss or at least place a reasonable stop if you want to maintain your long position and are concerned about how far it may fall before continuing upwards. Going forward, always wait for the pull back before buying/selling hoping for a continuation of the day's trend. Always, ALWAYS wait for the pull back. Gold in particular likes to consolidate between the high or...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,820
  • Oct 17, 2013 2:28pm Oct 17, 2013 2:28pm
Just out of curiosity I am on page 899 of this thread, but I think I set my forum options up to include more posts per page years ago.

Could someone who has not tampered with the settings please tell me the page they have?

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