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

  • #27,021
  • Oct 22, 2013 11:11pm Oct 22, 2013 11:11pm
How does this rationale equate to making money when THE LONGS ARE WINNING!!!!!!!!!!!!!!!!!!!!!!!!!!!

Obviously - or I "hope" for them these are not positions and only mere 100 pip scalps......
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,022
  • Oct 22, 2013 11:11pm Oct 22, 2013 11:11pm
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  • #27,023
  • Oct 22, 2013 11:16pm Oct 22, 2013 11:16pm
Quoting XTrade
How does this rationale equate to making money when THE LONGS ARE WINNING!!!!!!!!!!!!!!!!!!!!!!!!!!! Obviously - or I "hope" for them these are not positions and only mere 100 pip scalps...... {image}

Oh and don't get me WRONG it IS ALWAYS this WAY on this forum.

ALWAYS.

Learn something.
from the "popular opinion" because it is always LATE AND WRONG. Thus, people give money to GOLDMAN SACHS, JPM CHASE, ETC

Get a clue............. THESE PAIRS ARE MAKING NEW HIGHS WEEKLY!!!!!!!!!!!!!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,024
  • Oct 22, 2013 11:25pm Oct 22, 2013 11:25pm
Quoting TheArcher
{image}

Don't mind candle spikes, only use the bodies. That is where the TRUER support and resistance is,

the Wicks are only reaction Highs and Lows.

Try Using a line chart to do your S/R analysis and you will see the difference.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,025
  • Oct 22, 2013 11:27pm Oct 22, 2013 11:27pm
Of course for any analysis we can use the wicks, I only was trying to suggest to you a different means of drawing truer s/r.

Wicks, usually turn out to be useless for instance 1180 Gold Wick spot. truer support came in @ appx 1200 and the bodies are there to show it.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,026
  • Oct 22, 2013 11:31pm Oct 22, 2013 11:31pm
Quoting xtrade
suntrader, not sure where you are - but i would like to see you posting again. I tried to pm you but it seems i cannot. Thanks, xt........... Ps i know you are around. Come home brother.

i sent you a pm suntrader.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,027
  • Oct 22, 2013 11:31pm Oct 22, 2013 11:31pm
Quoting XTrade
{quote} Love these charts archer!

Quoting XTrade
{quote} LOVE IT and YES that IS THE ULTIMATE QUESTION!!!

so, do i get another voucher for this ?

* tongue in cheek *
  • #27,028
  • Oct 22, 2013 11:35pm Oct 22, 2013 11:35pm
Quoting TheArcher
{quote} {quote} so, do i get another voucher for this ? * tongue in cheek *

If only I could my man, If ONLY I COULD...

You just keep up the good work and I will always be behind you.

Slack off and I will drop off.

Yet, I have confidence in you as a budding trader, one needs that, I got it, now I give back,
I know you won't let me down.

XT
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,029
  • Oct 22, 2013 11:39pm Oct 22, 2013 11:39pm
Xtrade: Those are very lovely comments. Your words speaks that u r a very decent person. Thanks for sharing ur work.


Quoting XTrade
{quote} If only I could my man, If ONLY I COULD... You just keep up the good work and I will always be behind you. Slack off and I will drop off. Yet, I have confidence in you as a budding trader, one needs that, I got it, now I give back, I know you won't let me down. XT
  • #27,030
  • Edited Oct 23, 2013 12:08am Oct 22, 2013 11:49pm | Edited Oct 23, 2013 12:08am
Quoting ssaqeel
Xtrade: Those are very lovely comments. Your words speaks that u r a very decent person. Thanks for sharing ur work. {quote}

ssaqeel,

Thank you. I try to be fair and just, but by all means follow the rules I have set forth in the first post.
I could impose some silly voucher rule to post in this thread,

Yet,

I think it would ruin the point. For any of the few that have actually read the first 20 pages - you can see I posted to myself.
The point being a place for (me to express and share my knowledge) and for NEWBIES that share the same PASSION for GOLD and SILVER that I do and want to learn from someone/s
that know a bit more.

Thank you for your post it is truly generous.
XTrade
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,031
  • Oct 23, 2013 12:12am Oct 23, 2013 12:12am
Quoting XTrade
{quote} correcto, just look for 5 to 7 max then flip.
Here's your and the other "guy's" 5 USD scalp complete.

Go for 7 IMO. then Cut it if you are scalping.

If you are short well you know the S/R levels. Get out when you see fit -

Long we know the S/R levels as well as they are the same!!!!!!!!!

HARDY HAR HAR
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,032
  • Oct 23, 2013 12:15am Oct 23, 2013 12:15am
Honestly for the scalper shorts I would NOT look MUCH PAST 1330 on this,
Hence my 7 USD easy in easy out scalp suggestion and that is pushing it... I only scalp for 3 to 5 USD moves.
Day trade for 10 to 20 as many times as I can.

Position for 100 to 500 USD moves.

G/L
XT-

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,033
  • Edited 2:09am Oct 23, 2013 12:31am | Edited 2:09am
I detest missing strong moves - especially if I saw one coming...

Yesterday I missed most of the 5th wave going up (as correctly anticipated by the green PA path and Oct Pivot on my analysis chart) because I got suckered by the UK market open. I saw multiple divergences across TFs (on what I perceived to be the end of wave 4) and entered long just before the London open. PA went up but got smacked down - stopping out my position before beginning the uptrend. I instantly lost confidence - forgot all my analysis - and started thinking "This might be wave D of wave 4, give it time". PA just kept on going and at NFP release I leapt in long - closed too soon - went short at 1,332 - and basically made a big mess of what was a clean, clear opportunity.

I expect PA might turn back up around 1,332. If it doesn't, much lower can unfold in what may be the wave 2 correction (62%) of this advance as shown by the green PA path.

It happens, but unfortunately my broker doesn't give cash rewards for trading like Mr Bean.

http://ubuntuone.com/3Z9ObpP9mpH6EgGINMnoHf
cryptocurrency everytime
  • #27,034
  • Oct 23, 2013 1:46am Oct 23, 2013 1:46am
1345 is mounth pivot line above that we move higher i say, 1331 is Daily pivot under that we go lower, actually i am long from 1316 and 1320 took my sl to 1325 will wait if we break 1350, i wont short this untill we go under 1325.
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  • #27,035
  • Oct 23, 2013 2:14am Oct 23, 2013 2:14am
Quoting venzen
I detest missing strong moves - especially if I saw one coming... Yesterday I missed most of the third wave going up (as correctly anticipated by the green PA path and Oct Pivot on my analysis chart) because I got suckered by the UK market open. I saw multiple divergences across TFs (on what I perceived to be the end of wave 4) and entered long just before the London open. PA went up but got smacked down - stopping out my position before beginning the uptrend. I instantly lost confidence - forgot all my analysis - and started thinking "This might...
LOL, basically the exact same thing happened to me. My S/L was at 1310,00, one single spike went to 1309,97...After that I also started to hesitate and for some reason started to meddle with HDD partitions, something I had procrastinated for a long time. Needless to say computer didnīt work afterwards and by the time I finished repairing it, I saw that I gold has risen by 3k pips. Must be the karma thing or something.
  • #27,036
  • Oct 23, 2013 3:48am Oct 23, 2013 3:48am
Quoting Jorsik
{quote} LOL, basically the exact same thing happened to me. My S/L was at 1310,00, one single spike went to 1309,97...After that I also started to hesitate and for some reason started to meddle with HDD partitions, something I had procrastinated for a long time. Needless to say computer didnīt work afterwards and by the time I finished repairing it, I saw that I gold has risen by 3k pips. Must be the karma thing or something.
Bad Luck, eh?


anyhow, good to know I'm not the only shmuck in the market yesterday!

funny how we choose those critical moments to engage in tasks that detract from our bread-and-butter. It's happened to me a few times now that I decide to make a trading journal entry while waiting for PA to confirm something. By the time I hit save and look at the chart it had confirmed exactly what I wanted to see but had gone beyond the point where I can make a safe entry. Then I make a journal entry about only making journal entries at specific times and PA hits my prior scalp target and reverses... and me with the mouse hovering over 'Save'...

Aw shucks... let's resolve to stay focussed on the task at hand and not to get phased by market open/close fake-outs!
cryptocurrency everytime
  • #27,037
  • Oct 23, 2013 3:55am Oct 23, 2013 3:55am
A close under 1327 should open the door to 1312. 50/50 chance this retracement is over. I have targets North & South on the weekly. Gotta play it as it comes.
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Money Makes Money
  • #27,038
  • Edited 4:32am Oct 23, 2013 4:15am | Edited 4:32am
http://i44.tinypic.com/hs9j6o.png


After highest price at 1344.600 formed, price is moving down to develop a new Consensus Area between previous High (1327.010) and Current High (1344.600). So, i think we'll see a sideway movement until price move above 1344.600.

(XTrade, sorry for my bad English)

DRT
  • #27,039
  • Oct 23, 2013 4:57am Oct 23, 2013 4:57am
Quoting KiwiOz
A close under 1327 should open the door to 1312. 50/50 chance this retracement is over. I have targets North & South on the weekly. Gotta play it as it comes. {image} {image}
so, DeMark can be applied on 15min chart too ? i thought DeMark would work best on 4hrs and above charts .
  • #27,040
  • Oct 23, 2013 5:19am Oct 23, 2013 5:19am
Quoting TheArcher
{quote} so, DeMark can be applied on 15min chart too ? i thought DeMark would work best on 4hrs and above charts .
Once you learn how to "tweak it" you can even use it for scalping on the 1min chart.
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