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

  • #27,221
  • Oct 28, 2013 10:06am Oct 28, 2013 10:06am
Quoting eitan1010
hello,long on gold(my opinion) GL {image}
ok,

hinaf for now..

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when GOD brings you a challenge he also gives you the power to deal with it
  • #27,222
  • Oct 28, 2013 10:44am Oct 28, 2013 10:44am
Quoting eitan1010
{quote} ok, hinaf for now.. {image}

I believe small turning south from 138 to 123 and then up a lot.
  • #27,223
  • Oct 28, 2013 10:48am Oct 28, 2013 10:48am
Quoting RamsesII
be careful bears... {image}
and the ED 5th alternate...
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Don't have an ego. Always question yourself and your ability.
  • #27,224
  • Oct 28, 2013 10:54am Oct 28, 2013 10:54am
Quoting RamsesII
be careful bears... {image}

spot on , well done
  • #27,225
  • Oct 28, 2013 10:59am Oct 28, 2013 10:59am
Newbie member here. Anyhow, been looking at the charts and predictions already.
Somehow .. it seems like gold went down straight away. Now i'm kinda stuck at 1361 buy though. Margin going down and such. Anyone idea, will it raise up again soon enough ? Probably 1365? haha
  • #27,226
  • Oct 28, 2013 11:00am Oct 28, 2013 11:00am
Quoting razaali
{quote} spot on , well done
count is still uncertain without the 3 of 3 "WOW" move... would favour the ED 5th
Don't have an ego. Always question yourself and your ability.
  • #27,227
  • Oct 28, 2013 11:01am Oct 28, 2013 11:01am
Quoting XTrade
{quote} 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! {image}
Hi XTrade -I'm in the Balearic Islands, about 150 miles south of Barcelona and so we don't get the UKs really bad stuff......and that guy is really brave and IMO a tad foolish too because if he wipes out others will have to go and rescue him.....

BTW, I hope you guys don't mind my lower TF charts, I'm trying out gold for my intra-day swing trading as a change from FX....
Trading Levels with WRBs
  • #27,228
  • Oct 28, 2013 11:09am Oct 28, 2013 11:09am
Quoting RamsesII
{quote} and the ED 5th alternate... {image}
hi XTrade and friends,


aw shucks... i really missed the ending diagonal blow-off by not heeding Ramses's advice to change my count. I was being over-exhuberant in my confidence that PA had turned down because I had 5 waves complete - and now look: Heavily short from the low 1350s and still 200 pips to go before i am in the green again. I almost pee'd in my sarong when that last wave 5 jumped the TL and just kept going!

I guess in my favour is the fact that an ending diag is normally swiftly and completely retraced, so i should see profit before closing shop for the day - but i wrote myself a stern reprimand in my journal and tomorrow i'll read it and feel the shame for making assumptions.

Thanks Goodness I was careless in close proximity to an ED and not a 5000 pip stampede to 1420. We'll catch that one when wave 2 has done it's good work correcting the advance and cleared the indicators for the wondrous wave 3 of 3 to come
cryptocurrency everytime
  • #27,229
  • Oct 28, 2013 12:31pm Oct 28, 2013 12:31pm
Quoting Islander
{quote} Hi XTrade -I'm in the Balearic Islands, about 150 miles south of Barcelona and so we don't get the UKs really bad stuff......and that guy is really brave and IMO a tad foolish too because if he wipes out others will have to go and rescue him..... BTW, I hope you guys don't mind my lower TF charts, I'm trying out gold for my intra-day swing trading as a change from FX....
Welcome Islander,

No we don't and thanks for sharing.

This thread was/ is intended for any TF any style, any combo, mainly to focus on Spot gold and silver.
As well as for more well versed trader to have a discussion place and to help newbies where they see fit.

Futures discussion is welcome as well as ETFs, I like to discuss and analyze oil as well from time to time here.

I also trade intraday when things are slow,
and when I am scalping I tend not to post every entry and exit as it is unnecessary especially when taking 4+ scalps per hour.

In any case, Nice to hear you are not in the storm, I hope to my buddies across the pond she doesn't hit too hard.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,230
  • Oct 28, 2013 12:36pm Oct 28, 2013 12:36pm
Quick analysis.

This is a great day for scalping, another 10 USD swing down. What more could you ask for?

Thus, should we stay above the 1350 handle,
with a new and likely today's DAILY high already in @ +1362xx
now back on support area 1350+

We should be in TUNE or on track for a push to 1375 and then a blast perhaps after minor consolidation straight through 1400 to come
in sessions following.

XT-

Running out,
See you guys later.
Longs still riding.
G/L
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27,231
  • Oct 28, 2013 1:07pm Oct 28, 2013 1:07pm
Time to sell ? we hit a long downtrend line
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  • #27,232
  • Oct 28, 2013 1:42pm Oct 28, 2013 1:42pm
Quoting XTrade
{quote} Hi and welcome thanks for sharing. Yes, news I suppose is really it's own beast, so if one doesn't want to trade it or let a trade ride through it, it is usually best to just stay out. In any case, looking at your chart if you compare the \\"steepness\\" of the old DTLs and the New Up trend line - it is a bit steep. It may not break right off the bat, especially if sentiment has flipped, but, sooner or later it will likely even out a bit resulting in one of the two areas you have outlined as horizontal supports. I'd think 1330 area would...
Hi XTrade,

Thanks for taking the time commenting on my chart. It helps a lot..
Btw, I have updated my chart and my short term bias is down. Targeting at 1315.00. Wish me luck
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  • #27,233
  • Oct 28, 2013 2:04pm Oct 28, 2013 2:04pm
Quoting error0024
Newbie member here. Anyhow, been looking at the charts and predictions already. Somehow .. it seems like gold went down straight away. Now i'm kinda stuck at 1361 buy though. Margin going down and such. Anyone idea, will it raise up again soon enough ? Probably 1365? haha
1. Don't assume anyone knows the future here. Nobody can predict the future. All we have is history and technical analyses to guess more accurately at the probabilities of the direction of the market and even lesser extent the level at which the market will move.
2. Be patient. Use small bids with a stop or you could lose everything in your account and then some.
3. Before you pick a system to learn, understand all the terminology here.
4. Mentors are invaluable and expensive. Soime only teach one on one, like Larry Pesavento.
5. Get books and read them thouroughly.
6. When your margin approaches 10% of your original equity you are in danger of having your account closed. Trade on 100th of your equity at most to begin with.
7. Survive to trade another day without blowing your capital. Always use protective measures. Don't count your wins, they happen. Minimise your losses: you have absolute control on how big you lose (or little).
8. It takes hours to put in a daily high or low. It takes weeks or even months to put in regional highs and years to put in All-time highs/lows.
9. History can teach you much about the direction a market is going. 20/20 hindsight is better than 0/0 foresight.
10. If all else fails, don't place a position.

Hope these rules help you survive to trade profitably to begin with.
You win, you lose. All else is history. The future does not exist.
  • #27,234
  • Oct 28, 2013 2:10pm Oct 28, 2013 2:10pm
Quoting XTrade
{quote} 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! {image}
Yes, old chap. Very much an English gent in the country. Tea anyone? I fancy a new car.
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You win, you lose. All else is history. The future does not exist.
  • #27,235
  • Oct 28, 2013 2:36pm Oct 28, 2013 2:36pm
Quoting XTrade
{quote} 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...
Hi Xtrade , thank you for your valuable view.I can't agree more.Look forward you to give some more detail.
  • #27,236
  • Oct 28, 2013 3:05pm Oct 28, 2013 3:05pm
Quoting The Rhodie
{quote} Yes, old chap. Very much an English gent in the country. Tea anyone? I fancy a new car. {image}
Shame old chap - an English gent should drive one of these - or one of David Brown's products from Newport Pagnal.....my old car was 4133RW, although I drove this one many times too...
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Trading Levels with WRBs
  • #27,237
  • Oct 28, 2013 3:41pm Oct 28, 2013 3:41pm
Russia Reduces Gold Holdings for First Time in a Year


http://www.bloomberg.com/news/2013-1...ices-drop.html
  • #27,238
  • Oct 28, 2013 3:52pm Oct 28, 2013 3:52pm
It seems like most traders are looking towards 1370 with a high degree of confidence. That is probably due to the next Fomc meeting but these news should have already been included in the current price level. So, isn't this an opportunity to go short at every point considered too enthusiastic ?

I really appreciate the thread and the members.
  • #27,239
  • Oct 28, 2013 4:05pm Oct 28, 2013 4:05pm
Quoting gerry73
{quote} I believe small turning south from 138 to 123 and then up a lot.
go sleep on your nose..for scalping for me that was hinaf.

for u (greedy)maybee that was not hinaf.
when GOD brings you a challenge he also gives you the power to deal with it
  • #27,240
  • Oct 28, 2013 4:19pm Oct 28, 2013 4:19pm
Quoting Islander
{quote} Shame old chap - an English gent should drive one of these - or one of David Brown's products from Newport Pagnal.....my old car was 4133RW, although I drove this one many times too... {image}

Very nice and sedate. Unlike my taste, unfortunately. I very much enjoyed the Nissan GTR doing the 0-60 in 3.2 seconds out my gate. That was easily the best feeling of a supercharged twin-turbo jet sound I have heard. As much as I'd like a Ferrari I am unable to qualify paying THAT amount of money for insurance! I considered a Lambo, but Brit roads are decidedly not suitable for such a low-slung deck-skimmer. Ahh, we can all dream, but seriously think that this market in XAU is going to keep testing higher. As an example, I include a chart of EUR:JPY with a bit of ancestry...

Nothing stays the same. Gold is next.
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You win, you lose. All else is history. The future does not exist.
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