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

Amasat , Just wanted to ask about the chart u have been posted . It's that u mean the trading might run in the box of geo that u have colour ?

Don't understand much about the method u used , but might explain a lil bit ?

yes, and then some retracement so I can reload shorts to 1200.

we hope that this time you are right sir.

From the record of previous low , I guess we can get the support at 1260 and bounce back to 1303 before entering a lower PA . hope it might goes right .

I wouldn't take any s/r level as strong in these market conditions. Gold has been regularly pushed down every time US economy meltdown appears evident. One day FED's fraudulent game will be exposed hopefully. Tapering a possibility in December is a joke. If that happens it will be a kind of joke tapering in terms of quantity.

I'm very very wrong this time.
i got whacked!

Good long entry point---> 1260

Anyone remember this scenario ???

Now I enter Long.......

Watching 270 till then no longs for me

more downside most likely the coming days: http://localsfoolsgold.blogspot.be/2...been-cast.html Edit: corrected small typo of stop moving to 1285.60 in my post.

where S.L.?

I don't believe it. Just spent an hour typing something sensible for you all and did something SO STUPID that I lost the lot. Ahh well, the life of a trader.

Basically this is what I can see ahead based on a proprietry system:

We saw the market broke an important level of support today and there remains a last bastion of Bull Hope: 1251.64. If the market breaks this level in the next few days you had better get your parachutes out, 'cos we are going down to hell and then maybe back to 1400's level or even higher some time long afterwards...

"The world is setting up for a crash in the stock markets that will make the Great Recession look like a child's idea of trouble." -- Professor of Economics, Oxford, England, July 2007 (Name witheld).

Nobody knows the future, but the indicators are pointing more closely to this event in our lifetime. People in educational circles are aware of it, politicians argue about it daily around the world and the media are constantly quoting such an event, Hollywood makes movies about it. So far, we have not seen it happen.

Opinion makes money for the people who voice it, not the ones who trade on it. The markets tell the truth about your trade activities: check your account balance and tell me how accurate your predictions from others' opinions have been overall. If they have not even made you more than a modest 10% increase monthly compounded annually, you're better off investing with a brokerage and paying the tax on it. At least that is safer than TRADING LIKE THIS.

This is the time to be short in my opinion from 1268.5 with a stop at 1270, and don't change a thing until you are absolutely sure that the market has smacked down and instantly moved away on a 1min picture (chart). Our professional analysis is that gold is descending below 1251.64 possibly to 1221.6 in the next few days and maybe even during the beginning of next week. From there we might reasonably expect a sharp rally to levels we have not seen for a number of months. This is opinion based on professional analysis tools that have earned it's designers millions in GBP and allowed the designer to develop it over a 6 year period. This is opinion. History repeats itself. That smack downwards will look like a bee stinging it's victim and then move up and away without looking back for many days. Other markets bottom differently, but this is gold and this is what it does.

anything can happen, but there are several parts of the above analysis I quite like / tend to agree with (not everything though)

But hope as we do it's for his account to discover that actually, the market disagrees with him maybe...? Friday will tell if this statement is correct or not. Do let me know, please. I am interested.

I an glad to read that you do not agree with everything, because it shows a level of intelligence that we require as traders to decide on our methodology. Without intelligence, we are more accurate in our assessments but more likely to base trades on emotion. Emotion kills most trades before they are placed.

The recent behaviour of gold reminds me of an excited young teen male who has discovered he may actually bed the girl from the bar whilst he's drunk then wakes up the next morning and realises what he actually slept with... and then the truth happens. The glorious night before is not quite so glorious in the morning when the hangover kicks in and the morning-after dawns on him with her in his bed and a blank memory asking "wtf just happened???"

OK, so your stop out reached, now what you do, go long?

Hi Greenstar. Re: your request for my CCI indicator......... It is the Woodies CCI which I managed to get included into the MT4 indicators code base. I do not use anything else. tried & rejected the rest. I will try to download it to the Xau/Usd thread for you. Let me know if you need help setting it up like mine. I presume you are using MT4. I have it for Marketscope too. Cheers.

I have attached this to mt4 but can you tell me what this indicator is for