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

  • #27,101
  • Oct 24, 2013 1:07pm Oct 24, 2013 1:07pm
Quoting umair55
{quote} thanks alot bro for ur assistance
Anytime buddy!!
Cheers!
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,102
  • Oct 24, 2013 1:09pm Oct 24, 2013 1:09pm
KADC, nice to have you back!

Great analysis.



Quoting KADC
Weekly (not shown), gold is approaching 50 RSI, possibly when price hits the descending trend line (red on the daily below). The mid-line (blue) is my target for a \"real\" pull-back, doubly so if it coincides with descending resistance (red) and triply so if daily RSI is at 60 as that is frequently a reactive level, quadruply if weekly RSI is at 50 which is a key reversal level. {image} 8-hour (below) is just to show the current ascending channel gold seems to be in, the Fibonacci for this full move down (black), and the Fibonacci for the prior...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,103
  • Oct 24, 2013 1:33pm Oct 24, 2013 1:33pm
Quoting Bo_fajer
nice break off DTL BUT I see a good resistance @1351 with divergence on MACD and almost RSI I think selling @1341 with SL@1360 and TP @1310 is fair for this chart Breaking 1351 buy chance with a SL@1330 Tp@1400 that what I think any feedback I'll be thankful {image}
Great chart Bo,

If you take a horizontal line across at say appx 1345 on the very same chart you will see if you look back that the "truer" resistance is already broken,

1353 is only resistance because of that wick that touches it or "reaction high" we always want to beat those.

1345/50 has a bit more history.

The recent TL as you have well showed is a bit steep even for H4 - thus, I believe perhaps next week we should see some correction,
yet I truly think this trend is far from over.

No qualms with your trade idea at all as long as the Price Action and News justify it for the time it is placed.

Nice job.

XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,104
  • Oct 24, 2013 2:20pm Oct 24, 2013 2:20pm
Current Board. For ALL PMs.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,105
  • Oct 24, 2013 2:21pm Oct 24, 2013 2:21pm
If she can sustain 1340 or even above 1333, we should be in for a NICE ride up - down - then - UP next week...

I M O.
Thanks.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,106
  • Oct 24, 2013 2:25pm Oct 24, 2013 2:25pm
The system I use is unique and cannot be found anywhere on sale, yet. It has completed it's Alpha and Beta testing and is used in LIVE trading daily with years of success. The subtle turns and changes in market sentiment are picked up dynamically and real-time with everything whispering at you telling which way it may move next. It's not the "Holy Grail" of fortelling, but pretty darn close.

Apparently the next target of the market in XAU:USD looks set @1363.9 which was the last high of 20 Jun '13. I don't expect that it will stop there either. It is quite possible that it may continue to 1380, possibly even nearer @1400 region in the coming weeks after a small retracement this Friday and Monday. The future is unwritten. With the weakening USD and a flight to Euro strength, anything can happen.

I cannot understand why anyone wants to risk more than 10 pips in a stop. With the last hike from Non Farm Payroll a couple days ago, I managed to nail the low of the day 1311.71 on a 1 min chart, and the eventual high I hedged @1342.9 in less than 20 mins. My stop on the long was only 6 pips. Not once did the market question that position. Have I discovered someting or missed a trick?
You win, you lose. All else is history. The future does not exist.
  • #27,107
  • Oct 24, 2013 2:39pm Oct 24, 2013 2:39pm
Quoting XTrade
If she can sustain 1340 or even above 1333, we should be in for a NICE ride up - down - then - UP next week... I M O. Thanks.
How about 1345.32 or 1342.52? Maybe we can expect a bounce off either of those levels before going higher?
You win, you lose. All else is history. The future does not exist.
  • #27,108
  • Oct 24, 2013 3:16pm Oct 24, 2013 3:16pm
Quoting The Rhodie
The system I use is unique and cannot be found anywhere on sale, yet. It has completed it's Alpha and Beta testing and is used in LIVE trading daily with years of success. The subtle turns and changes in market sentiment are picked up dynamically and real-time with everything whispering at you telling which way it may move next. It's not the \"Holy Grail\" of fortelling, but pretty darn close. Apparently the next target of the market in XAU:USD looks set @1363.9 which was the last high of 20 Jun '13. I don't expect that it will stop there either....

Nice that you have a system that works.

I use the simplest of techniques and they always work, yet I am a tech and news trader, so.....

In any case welcome.

XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,109
  • Oct 24, 2013 3:17pm Oct 24, 2013 3:17pm
Quoting The Rhodie
{quote} How about 1345.32 or 1342.52? Maybe we can expect a bounce off either of those levels before going higher?

I don't see why not.

The trend is a staircase pattern - very familiar and often repetitive of GOLD.

My next mid term target is 1420.

edit, after some correction at a point which I am unsure of as of yet.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,110
  • Oct 24, 2013 8:37pm Oct 24, 2013 8:37pm
AS - we - are NOW..

I always love the three day line.

So once again here it is, NY gains pared until tomorrow's session.

I expect a minor range dip, yet I also see any dip below 1333 being bought.

WE will see...

xt-
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,111
  • Oct 24, 2013 8:40pm Oct 24, 2013 8:40pm
Quoting The Rhodie
{quote} How about 1345.32 or 1342.52? Maybe we can expect a bounce off either of those levels before going higher?
@ 1345 now --- ALERT---

I would hang tight for 1342 in this case but would have ZERO confidence in a trade shooting to anywhere sub 1325 ATM
IMO
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,112
  • Oct 24, 2013 9:23pm Oct 24, 2013 9:23pm
I think if people need advice on trades it would be helpful to know:
A. What your bias is and why.
B. WHAT TIME FRAME you are trading = in the case you have not disclosed it already via word or chart.
C. If you actually have planned setup in mind with a stop and a TP. OR
D. You are just scalping.

These few items of mental / technical inventory will help us to guide you best.


Otherwise, it's all just conjecture.

ALWAYS ASK QUESTIONS AND POST YOUR ANALYSIS EVEN IF YOU DON'T HAVE EVERY THING IN PLACE!!!!!

Welcome ALL,
Thank you,
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,113
  • Oct 24, 2013 9:32pm Oct 24, 2013 9:32pm
I just woke up to eat and relax before returning to bed, but I thought I would note that the Professional Charts (name of the web-based charting software) I use on my old laptop (NetDania won't work on it anymore) to keep an eye on things while I'm relaxing shows hourly RSI at rising support at reactive level 50 and price action has fallen to Tuesday's high (likely support). 5- hour RSI (next time frame up on this software) shows RSI very close to rising support (hard to get a good read with this software) and 5-minute RSI has broken falling resistance indicating and end to downward movement in the short term (though I'd like to see it happen at a lower level). RSI and Fibonacci are rendered somewhat differently on this software, and again, it's hard to get a good read with this software, but if these are accurate (and I hadn't already made my money for the week) I'd be looking to go long at this point, increase my position at $1,342.50, and place a stop at $1,341.50 (just below the top of 5 or 6 hourly candles). This gives a 3 to 1 risk/reward if price bounces back up to today's high from this point and 4-1 if price hits the second entry point without stopping out.
You can always make money tomorrow provided you don't lose it today.
  • #27,114
  • Oct 24, 2013 10:34pm Oct 24, 2013 10:34pm
Morning all,

Does anyone know a source for historical OHLC data for Gold? I have downloaded a spreadsheet from Kitco but the data is EOD only. Googling this brings up similar (EOD) and paid for databases. I imagine the data exists for free like it does for most currencies.

I would like to do some data crunching and OHLC would be preferable.

any pointers will be much appreciated
cryptocurrency everytime
  • #27,115
  • Oct 24, 2013 11:16pm Oct 24, 2013 11:16pm
1 Hour chart - MACD divergence.

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  • #27,116
  • Oct 25, 2013 12:40am Oct 25, 2013 12:40am
Quoting XTrade
I always love the three day line. {image}
i hate this 3 day line chart by kitco. very confusing for me.

i am sure u might love it for some more in-depth technical reasons ... but then , one man's meat is another man's poison .
  • #27,117
  • Oct 25, 2013 2:17am Oct 25, 2013 2:17am
Gold needs to retrace before it can advance further. Targeting around 1310.
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Money Makes Money
  • #27,118
  • Oct 25, 2013 3:11am Oct 25, 2013 3:11am
Quoting Mave
H4 trade idea - three drives down in the direction on main trend.. setup invalid @ 1330/1352 target 1280/1200 {image}
expecting a retrace to 1300/1290 (50/61.8)..
reasons -
high of 1351.91 (my broker only) intact
thick purple line (can we call it intermediate pivot/trend line? 'm really confused)
price respecting 78.6 fibo.

Any advice on momentum will be helpful.

trigger - two closes below 1341.50 on H1 or M15

watch out for consumer sentiment
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A trade should be based on an assumption based on facts
  • #27,119
  • Oct 25, 2013 3:40am Oct 25, 2013 3:40am
Quoting XTrade
AS - we - are NOW.. I always love the three day line. So once again here it is, NY gains pared until tomorrow's session. I expect a minor range dip, yet I also see any dip below 1333 being bought. WE will see... xt- {image}
Last night I said: (I am in the UK)
Quoting The Rhodie
{quote} How about 1345.32 or 1342.52? Maybe we can expect a bounce off either of those levels before going higher?
And so far that is the range and has held close to that all day so far. I expect the market to retrace from about 1344.9 to test the LoD.
You win, you lose. All else is history. The future does not exist.
  • #27,120
  • Oct 25, 2013 4:24am Oct 25, 2013 4:24am
TA: stocs overbought ?

FA: weak germany => weak euro => strong USD => weak gold ?

i am aware that UK has better news , but the Efficient Germans are the de-facto leader of Europe.
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