XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1347 | 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

  • #26,921
  • Oct 21, 2013 12:38pm Oct 21, 2013 12:38pm
As if most of Thursday and Friday was not enough... Monday Too... This PA is very painfully frustrating, especially after a decent trendline is broken...

Phew...Patience!!!
  • #26,922
  • Oct 21, 2013 1:15pm Oct 21, 2013 1:15pm
Quoting tcu
When I trade Gold, I ask myself whom will buy with me,....the response may be European extension to new members and metals uses and other ideas. But the fact remain that Europe has limited interests to buy metals at this levels to support Russia, all people talk about new development of Euro Credit crisis

Interesting,

You should look up these following things - all bullion related.

INDIAN - Gold buying and Wedding Gold Seasons
The LBMA
China and it's Gold buying.
Australian Gold / Copper Exports
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,923
  • Oct 21, 2013 1:19pm Oct 21, 2013 1:19pm
Attached Image (click to enlarge)
Click to Enlarge Name: gold2110B.png Size: 23 KB
  • #26,924
  • Oct 21, 2013 1:20pm Oct 21, 2013 1:20pm
Quoting TheArcher
{quote} yes, my mistake .

No mistake brother, you saw something and threw it out. WITH a chart no less.

In chart or strictly tech trading, you could assume that due to the 3 bounces on the resistance level if the lower resistance level does not cover them,
then it might break.

So it is good always to look at support and resistance / range levels to place trades.

Usually or IMO supply and demand come in above and below support and resistance - usually because traders want the BEST price FILLABLE.

But, if you look up a double top or double bottom, sometimes they are both related ((as I will show with my upcoming kiwi chart))
Yet, these are strong signals of reversal that you want to see on the daily or weekly.

Sure if you are daytrading it's fine to see a double top on say M30, yet if you didn't buy the bottom support and sell the top / just identify with the middle,
when it happens, well, then where are you?

No position - stuck in the middle, no scalp.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,925
  • Oct 21, 2013 1:23pm Oct 21, 2013 1:23pm
Quoting auther
As if most of Thursday and Friday was not enough... Monday Too... This PA is very painfully frustrating, especially after a decent trendline is broken... Phew...Patience!!!

GET USED TO IT MATE!!!

Sometimes this lasts for months - take a look at 1750 to 1550, and you're only talking about a tight sub 50 USD range....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,926
  • Oct 21, 2013 1:26pm Oct 21, 2013 1:26pm
Quoting TheArcher
{image}
Not sure if you were attaching a post here, but, if I were "trading this chart" I would Identify the range top and bottom after breakout.
With support and resistance horizontal lines.

Identify, where the breakout happened and now this price area that was tested should serve as support.

If you want to trade this safely,

All you need to do is simply place orders outside the current range top and bottom,

IE: LONG above 13xxx
IE: Short Below 13XX

Then if the PA is not TOO volatile your order will get picked up and you can squash it at the next support,
wait for some direction and do it all again.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,927
  • Oct 21, 2013 1:26pm Oct 21, 2013 1:26pm
H4
trade idea - three drives down in the direction on main trend..
setup invalid @ 1330/1352

target 1280/1200
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_28.jpg Size: 192 KB
A trade should be based on an assumption based on facts
  • #26,928
  • Oct 21, 2013 3:09pm Oct 21, 2013 3:09pm
looks like possible 4th wave tri ,,, i'll look to buy "e"
Attached Image
Don't have an ego. Always question yourself and your ability.
  • #26,929
  • Oct 21, 2013 3:13pm Oct 21, 2013 3:13pm
Quoting okanemici
{quote} You have a good point Gold-lover but for the first time since 01.09.2013 4h trend is up since thursday.To see lower below 1290 we first need to see this 4h trend reverse and there is no clue yet. My take is either today or tomorrow with the non farm numbers they will push the price down to 1295 area make everybody sell , take out longs and then make an attack to the upside in the following days.
Thank you for replying. My comment pertains basically to the larger view of where gold is going. I tried last time to upload my chart but the upload failed. I converted my chart into a Bitmap image and tried to upload from computer. Could you plz help me on how to do it.
  • #26,930
  • Oct 21, 2013 3:42pm Oct 21, 2013 3:42pm
Quoting Gold-lover
{quote} Thank you for replying. My comment pertains basically to the larger view of where gold is going. I tried last time to upload my chart but the upload failed. I converted my chart into a Bitmap image and tried to upload from computer. Could you plz help me on how to do it.

I must have missed your chart as I am always happy to discuss LONG TERM trades and Price direction.

There are multiple options for upload.

If you are using a chart saved to your computer I suggest PNG, JPG, Or Bitmap lastly.

Are you trying to link or upload?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,931
  • Oct 21, 2013 3:45pm Oct 21, 2013 3:45pm
Quoting XTrade
{quote} Interesting, You should look up these following things - all bullion related. INDIAN - Gold buying and Wedding Gold Seasons The LBMA China and it's Gold buying. Australian Gold / Copper Exports
http://www.dfat.gov.au/publications/...25_exports.pdf
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,932
  • Edited 4:35pm Oct 21, 2013 4:19pm | Edited 4:35pm
hey XAU people
I have big picture of Gold of last rough 12 months with my thoughts and predictions...

ok. this chart is
H12, Heiken, XAU/USD and 200 EMA.

As you can see Gold has been in general downtrend, starting from 1684 on January 23rd.

- so far there painted 3 major consolidation zones 1>2>3 with break-outs in-between.
- all 3 zones are part of the 'holy downtrend'
- the August break between 2nd and 3rd zones was major but it still got trend back under EMA

now current consolidation which as you can see broke recently around 1317 (it has left the zone)...

from all this I have 2 scenarios in my mind on further movement:

1. Either it will move down, kiss/test the zone-line and move up considerably (reaching or crossing the EMA)
2. or it will break in the the zone resulting in a fake-break-out


Considering that US debt ceiling thing was solved temporarily (which moved gold up) I guess Gold will be solid until January 2014 with some minor up and downs....meaning I mostly fancy my 1st scenario..

how about you?
Attached Image (click to enlarge)
Click to Enlarge Name: Gold Annual.JPG Size: 64 KB
always draw trendlines
  • #26,933
  • Oct 21, 2013 5:05pm Oct 21, 2013 5:05pm
Quoting tk5
hey XAU people I have big picture of Gold of last rough 12 months with my thoughts and predictions... ok. this chart is H12, Heiken, XAU/USD and 200 EMA. As you can see Gold has been in general downtrend, starting from 1684 on January 23rd. - so far there painted 3 major consolidation zones 1>2>3 with break-outs in-between. - all 3 zones are part of the 'holy downtrend' - the August break between 2nd and 3rd zones was major but it still got trend back under EMA now current consolidation which as you can see broke recently around 1317 (it has left...

Take another look at the fundamentals. Not so sure I agree with the US GOV temporary fix being the reason for Gold's rise - as more so -
The MASS EXODUS away from the USD resulting in the USDX plummeting as well as certain US repayment schedules "or credit" if you will being rumored to be or being downgraded, by other gov agencies globally.

This fix was only with a four month life until the next debacle, there is still no budget.

Fundamentally, a four month fix would have sent gold back to 1250, in the SHORT TERM, yet there is far more that weighs in on this metals price day to day than the USGVMNT..

Gold is in an ODD spot right now. There are conflicting fundies, the techs don't relate to the fundies at all and the amount of checks and balances to take into consideration sometimes are staggering. One thing seems to hold right now and that is the inverse relationship between the Buck and Gold.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,934
  • Edited 6:34pm Oct 21, 2013 6:14pm | Edited 6:34pm
look mate, I strongly believe budget agreement moved Gold...it was dying under 1290 for couple days until US gov's temporary fix....experts were expecting gold to remain low if US gov comes to solid resolution BUT since the nature of fixing is temporary and with conditions it makes USD vulnerable even if short term.....this means Gold got back to 'fashion' again...short or long-term.

Gold moved up exactly following US senate decision. there was no other major influence.

I agree that XAU loves fundamentals...and as per FXCM's USD Index VS Gold - they started to go in sync (not reversing each-other) from September, which is unusual...

but it seems gold and usd reclaiming their rivalry again.
always draw trendlines
  • #26,935
  • Edited 7:56pm Oct 21, 2013 7:31pm | Edited 7:56pm
Ok, so here´s why I´m short gold. technically speaking everything points south, all points are on the chart. What do you think XTrade? (off course I mean the 100sma has been tested as resistance now on the chart)

http://i.imgur.com/sc3O0Cl.jpg
  • #26,936
  • Oct 21, 2013 8:15pm Oct 21, 2013 8:15pm
Quoting RamsesII
looks like possible 4th wave tri ,,, i'll look to buy "e" {image}

Thanks Ramases, i don't have to post a chart! I see a triangle too and we should reach the end of E later today or tomorrow. The depth of E is unknown but it will most likely overshoot the LTL as people pile in thinking the bear has awoken. On reversal I will also ease in. Let's hope we get an extended 5th to 1,345!
cryptocurrency everytime
  • #26,937
  • Oct 21, 2013 8:39pm Oct 21, 2013 8:39pm
Quoting GqOrlando
Ok, so here´s why I´m short gold. technically speaking everything points south, all points are on the chart. What do you think XTrade? (off course I mean the 100sma has been tested as resistance now on the chart) {image}

hi GqOrlando,

I see some wave labels on your chart and want to point out a technicality related to the 'guidelines' of EW:

Generally an impulse wave (12345) unfolds between parallel channel lines. As you can see on your chart the wave down had broken channel and this calls into question its function. Due to breaking channel and also the presence of many three wave structures skews my judgement toward this wave down being a triangle (abcde) or even a vanilla A-B-C. The presence of many 3 wave structures and absence of a containing channel generally says: "correction".

Also, the first touch of the 100MA is clearly, as you say, a rejection. Yet the current challenge of 100MA seems different. PA approached it in an impulsive manner (12345) and is now in consolidation just below it - i.e. no rejection and bounce, but apparently gathering energy to punch through it.

This is just my interpretation of the technicals and I am not married to this opinion. However, it does imply that we are heading up in what can be either another leg of a triangle or the beginning of a major push to new highs. Ultimately, this kind of long term predication does not influence our day-trading but sometimes it's nice to look at what the tea-leaves say

The current juncture of PA is a crossroads and it will be interesting to see what Gold does.
cryptocurrency everytime
  • #26,938
  • Oct 21, 2013 8:49pm Oct 21, 2013 8:49pm
Quoting tk5
look mate, I strongly believe budget agreement moved Gold...it was dying under 1290 for couple days until US gov's temporary fix....experts were expecting gold to remain low if US gov comes to solid resolution BUT since the nature of fixing is temporary and with conditions it makes USD vulnerable even if short term.....this means Gold got back to 'fashion' again...short or long-term. Gold moved up exactly following US senate decision. there was no other major influence. I agree that XAU loves fundamentals...and as per FXCM's USD Index VS Gold -...

Do I hear a British accent as I read? LOL!! Please tell me yes, otherwise I'm going to the homepage.

I will discuss fundamentals with you till the cows come home.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,939
  • Oct 21, 2013 8:54pm Oct 21, 2013 8:54pm
Quoting venzen
{quote} hi GqOrlando, I see some wave labels on your chart and want to point out a technicality related to the 'guidelines' of EW: Generally an impulse wave (12345) unfolds between parallel channel lines. As you can see on your chart the wave down had broken channel and this calls into question its function. Due to breaking channel and also the presence of many three wave structures skews my judgement toward this wave down being a triangle (abcde) or even a vanilla A-B-C. The presence of many 3 wave structures and absence of a containing channel...
Most appreciated, and I see what you mean after the channel BO the 5 wave structure might be invalidated. The retarcement of the leg 4 on my chart is quite deep and much depeer than previous structure (I just got a huge deja vu by the way) and this would mean that we have entered a new cycle. But if we look back to January highs we are still inside powerfull down cycle and ponit C retraced exactly 50% of the first leg; which would make the ABC on my chart wave 2 of the bigger picture.

I mean we can get caught up in this and swirl it around but you are correct it will be interesting to see what gold does.
  • #26,940
  • Oct 21, 2013 8:57pm Oct 21, 2013 8:57pm
WOOOOOWWWW,

You must have nice weather, women and drinks there in the paradise Island you say you live!!!

Well,
You should be well in-tuned then with AUSSIE- KIWI - HKD - YUAN - etc and all the gold that flows in and out right under your nose there.

Do you know or ever ask yourself how much money that passes through has, blood, heroin, cocaine, or diamond or gold flakes on it?

Not that that makes a difference.---------------

Especially here.

But if you want to get fundamental it will....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
91 traders viewing now