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

  • #27,201
  • Oct 28, 2013 6:55am Oct 28, 2013 6:55am
Quoting venzen
{quote} hi Islander, IMO the turning point (down) was the subsequent impulse high around 1354. I'm shorting this 2nd wave down to 1310 area. Probably a zigzag lasting a few days or the week - so multiple stints with a few long scalps too. edit: good - i just saw your post - you got the high!

Yes, the high so far and now I'm waiting to see what the NY Open brings.....
Trading Levels with WRBs
  • #27,202
  • Oct 28, 2013 7:11am Oct 28, 2013 7:11am
Quoting Islander
{quote} Yes, the high so far and now I'm waiting to see what the NY Open brings.....

I misunderstood your post first time round - you wanted to know the reversal point going up, right? and i told you the wave top

So what are you looking for in the NY session with regards to Gold? Any particular levels or PA move perhaps?

I'm keeping an eye on Silver too, and it seems to have more range than Gold now in the NY...
cryptocurrency everytime
  • #27,203
  • Oct 28, 2013 7:45am Oct 28, 2013 7:45am
the market seems reluctant to let go of the highs and PA is drifting sideways even as the wave degrees are increasing in magnitude and latent power. I guess once the majority "click" that correction is underway and join in, PA should drop like something really heavy, like a stone, or lead - no heavier than that...

I anticipate lots of reactions spiking up and a B wave at some point could retrace almost back to current levels... as 2nd waves go, the reversal at the 1310 area should be swift.
cryptocurrency everytime
  • #27,204
  • Oct 28, 2013 7:57am Oct 28, 2013 7:57am
Quoting venzen
{quote} I misunderstood your post first time round - you wanted to know the reversal point going up, right? and i told you the wave top So what are you looking for in the NY session with regards to Gold? Any particular levels or PA move perhaps? I'm keeping an eye on Silver too, and it seems to have more range than Gold now in the NY...
half an hour ago we saw a LH in the 1353 area, but it was on lower volume without any divergence on the 5m chart, so I'm waiting for more confirmation before thinking of selling. Also, as I type, all of the 30 EMAs from 1M up to 1D are green, which suggests another push up....so I'll stay out and wait for a clearer signal...
Trading Levels with WRBs
  • #27,205
  • Oct 28, 2013 8:14am Oct 28, 2013 8:14am
Quoting venzen
{quote} Rhodie, Thanks for gifting us with your words of wisdom. 2 questions: 1) Where are you getting your statistics from? 2) Does your quotation marks around \"predicting the future\" also apply to your own statement \"This week we say goodbye to the 1330's\" ? It's fine and well to opine about the markets and the punters but I would check the tone I use when addressing my equals.
A1: My stats come from reputable people and organisations such as http://ashraflaidi.com/forex-news, http://www.zerohedge.com/ and many others.
A2: It is interesting to note that your quotation comes without the context of ..."Remember, anything can happen..." which is easily understood to mean that this is not foretelling the future, but a guess at what may be possible.

Reply to comment: Tone is not of consequence on the markets, but there is no direct reference to any equals as there are none. From what I can see, you are all mostly more experienced than I, and I would not deign to call myself anyone's equal. There are millions of punters who have bought the same marketing hype and are generally trying to earn a buck out of it. I was merely suggesting to those who are not finding that they are getting ahead with their packages to try something different; a new method, a new model, a new direction of thought... anything different that the general flock of sheep are not using.

As I write this, London brokers are going in to work after delays and there is a second new High of the Day. We await the US session for the News on housing in less than an hour. We shall see how accurate the Analytics engine is on my system which I cannot share for IP rights and copyright issues. The bulls are rearing to go, but the bears are reigning them in. So far the 1330's have not had a look in to the day's trading, so the analysis is true so far. The accumulation and aggregation of positions is being done via machines at a rapid pace. Is this the point at which we get long? In my uneducated opinion, the 1330's may well be left behind for a while, but hey, who knows? Anything can happen, like the 99 mph winds through London today.... people dead, hundreds of trees blocking transport links, warning to avoid travel...
You win, you lose. All else is history. The future does not exist.
  • #27,206
  • Oct 28, 2013 8:30am Oct 28, 2013 8:30am
There was an equal high in the 13:00 gmt candle on a good volumed red 5m spinning top with negative divergence on the 15m - I sold 1 unit at 1351.77......
Trading Levels with WRBs
  • #27,207
  • Oct 28, 2013 8:33am Oct 28, 2013 8:33am
Quoting Islander
{quote} half an hour ago we saw a LH in the 1353 area, but it was on lower volume without any divergence on the 5m chart, so I'm waiting for more confirmation before thinking of selling. Also, as I type, all of the 30 EMAs from 1M up to 1D are green, which suggests another push up....so I'll stay out and wait for a clearer signal...
good idea. the US data could see a spike up.
cryptocurrency everytime
  • #27,208
  • Oct 28, 2013 8:39am Oct 28, 2013 8:39am
Quoting The Rhodie
{quote} A1: My stats come from reputable people and organisations ....I was merely suggesting to those who are not finding that they are getting ahead with their packages to try something different; a new method, a new model, a new direction of thought... anything different that the general flock of sheep are not using.... Anything can happen, like the 99 mph winds through London today.... people dead, hundreds of trees blocking transport links, warning to avoid travel...
Rhodie,

Fair enough, I must have misread your meaning first thing after I woke up...

Sounds like things are really rough in the Republic of London! Sorry to hear that and I hope that damage and injury is limited.
cryptocurrency everytime
  • #27,209
  • Oct 28, 2013 8:47am Oct 28, 2013 8:47am
Twenty minutes to go...

All bets are OFF. Trading the 1 min charts are great fun and so far unpredictable, as always. Chart patterns are telling an interesting story about the bulls and bears today. the UK storm has stirred the markets up a bit and now looks like a test of the daily low in xau. Spread has narrowed and looks like a tiger ready to pounce.
You win, you lose. All else is history. The future does not exist.
  • #27,210
  • Oct 28, 2013 9:05am Oct 28, 2013 9:05am
Quoting Islander
There was an equal high in the 13:00 gmt candle on a good volumed red 5m spinning top with negative divergence on the 15m - I sold 1 unit at 1351.77......
I had my TP set for $5.00 just above the DP and it missed by about 15 cents, so I closed for ~$3 well before the news and I'm finished for the day - need to check boats before the tail end of that UK storm hits us tomorrow....
Trading Levels with WRBs
  • #27,211
  • Oct 28, 2013 9:14am Oct 28, 2013 9:14am
Quoting Islander
{quote} I had my TP set for $5.00 just above the DP and it missed by about 15 cents, so I closed for ~$3 well before the news and I'm finished for the day - need to check boats before the tail end of that UK storm hits us tomorrow....
Hi Islander and Rhodie,
Are you guys both in the UK?

More and more of this extreme weather is happening around the Globe. We got crushed here last year in NY between Sandy, etc. Not looking forward to another winter...
Hope things don't get too bad over there.

Take a look at this chap!
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,212
  • Oct 28, 2013 9:19am Oct 28, 2013 9:19am
Not the most important releases but regardless of any "Green" printing Gold has made a new high after holding firm through Asia.
Seems there wasn't more than a 3/5 USD dip since friday's close.

Just a suggestion. If you guys are scalping I would tend to favor longs, in the chance of getting picked up on a nice "wave" up.

no pun intended to the picture above.!
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,213
  • Oct 28, 2013 9:20am Oct 28, 2013 9:20am
Gold should be long for couple of month. Just play with the timing.
I just wondering the possibility of Oil go up to 200 level. May be.............
Face both Win and Lose bravely
  • #27,214
  • Oct 28, 2013 9:22am Oct 28, 2013 9:22am
Great charts yesterday Ramses and Venzen thanks for taking the time to share. I have been a bit lazy in my charting as of late.

Should things keep strong mid term target remains 1550.
Quoting RamsesII
Really good analysis venzen; ----------------- but only because I'm ultra bullish to 1500+... {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,215
  • Oct 28, 2013 9:24am Oct 28, 2013 9:24am
Quoting Cowboy11
Gold should be long for couple of month. Just play with the timing. I just wondering the possibility of Oil go up to 200 level. May be.............
If it did that might be the best trade of the century.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,216
  • Oct 28, 2013 9:30am Oct 28, 2013 9:30am
Quoting okanemici
{quote} Hi Xtrade, how do you use the daily and the weekly ? For me switching from 15 min to 4h was the best thing that has happened to me.Will be glad if I can learn more about daily and weekly.Nowadays I'm also looking at the monthly charts .When I looked at the monthly chart 2 weeks ago I had a strong feeling that november would be the rock n roll month for gold !

I just saw this post.

Yes, switching from the lower TF charts at first, to the higher TFs is certainly a daunting task. Sometimes it seems almost impossible to people.

Yet, with time and practice I think many would find it is actually easier to trade, offers far more profit potential, as well as exposes you on a regular basis to more
history, which in turn as I think I mentioned yesterday, becomes tattooed into the brain eventually. Eliminating the need to constantly look at historical data or keep various versions/ chart studies of longer term charts.

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

When it is slow and my trades are not intended to last long I"ll use the H1 to trade off of. Yet, I still incorporate and follow what is happening on the H4, daily and weekly.

I'll be happy to go into further detail a bit later in the day if you are around.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,217
  • Oct 28, 2013 9:34am Oct 28, 2013 9:34am
hello,long on gold(my opinion)

GL

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when GOD brings you a challenge he also gives you the power to deal with it
  • #27,218
  • Oct 28, 2013 9:45am Oct 28, 2013 9:45am
Quoting XTrade
{quote} If it did that might be the best trade of the century.
It may be possible, the usage of U is getting smaller and smaller.
A lot of countries have put up indirect restriction to prevent those hot money from flowing into their countries.
Face both Win and Lose bravely
  • #27,219
  • Oct 28, 2013 9:51am Oct 28, 2013 9:51am
be careful bears...
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Don't have an ego. Always question yourself and your ability.
  • #27,220
  • Edited 9:55am Oct 28, 2013 9:52am | Edited 9:55am
Did you all wave goodbye to the 1330's? We are at the boundary of 1360's. Look back over my posts and see if what the analysis was correct from last week... maybe today we get to see the 1363 borderpost before seeing a new direction? Nobody can predict the future. All I have are the indicators and history for my suspicions.
You win, you lose. All else is history. The future does not exist.
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