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

  • #28,081
  • Nov 14, 2013 7:38am Nov 14, 2013 7:38am
Amazing. Larry Pesavento said this morning in his daily video that gold was likely to be worth shrting @1287. Being a doubter, it has actually taken my demo account into profit immediately. Nice one, Larry. Those AB=CD patterns actually are really accurate. I haven't seen anything like them in any system.
You win, you lose. All else is history. The future does not exist.
  • #28,082
  • Nov 14, 2013 7:38am Nov 14, 2013 7:38am
Quoting venzen
{quote} i hope today is your lucky day - that's a high risk gamble... but by my analysis you're going to score big in a few minutes.
Thanks.
Now lets set SL @1283.2 so that I will gain for jonny walker anyhow, and can comfortable wait for 1311.
  • #28,083
  • Nov 14, 2013 7:39am Nov 14, 2013 7:39am
Quoting morfasie
{quote} You think we started that C wave now?

KO and I are counting this differently - for me we have been in wave C since the low near 1260 a few days ago. We are now going up in the final subwave 5 of C... give it time to unfold - sometimes it will look like it's topped but will push further each time till we clear 1300

M15 from 8hrs ago

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_M15_14Nov2013.png Size: 70 KB
cryptocurrency everytime
  • #28,084
  • Nov 14, 2013 7:43am Nov 14, 2013 7:43am
Quoting venzen
{quote} KO and I are counting this differently - for me we have been in wave C since the low near 1260 a few days ago. We are now going up in the final subwave 5 of C... give it time to unfold - sometimes it will look like it's topped but will push further each time till we clear 1300 M15 from 8hrs ago {image}

Thanks mate, yeah final wave C. I have a SL at 1278 with a take profit at 1304, good lukc gents
  • #28,085
  • Nov 14, 2013 7:47am Nov 14, 2013 7:47am
Quoting The Rhodie
Amazing. Larry Pesavento said this morning in his daily video that gold was likely to be worth shrting @1287. Being a doubter, it has actually taken my demo account into profit immediately. Nice one, Larry. Those AB=CD patterns actually are really accurate. I haven't seen anything like them in any system.

Where can we view his daily videos?
  • #28,086
  • Nov 14, 2013 7:49am Nov 14, 2013 7:49am
Quoting The Rhodie
Amazing. Larry Pesavento said this morning in his daily video that gold was likely to be worth shrting @1287. Being a doubter, it has actually taken my demo account into profit immediately. Nice one, Larry. Those AB=CD patterns actually are really accurate. I haven't seen anything like them in any system.
I could have misread a previous message. I thought LP recommended shorting at 1276 yesterday (yesterday Honolulu time).
  • #28,087
  • Nov 14, 2013 7:50am Nov 14, 2013 7:50am
I'm short my live acc.
You win, you lose. All else is history. The future does not exist.
  • #28,088
  • Nov 14, 2013 8:05am Nov 14, 2013 8:05am
It is time.
  • #28,089
  • Nov 14, 2013 8:14am Nov 14, 2013 8:14am
Quoting Greenstar
{quote} I could have misread a previous message. I thought LP recommended shorting at 1276 yesterday (yesterday Honolulu time).
Only reason I mention it is that I tried it, just before leaving for work yesterday; that's why stop losses are key. I think the reason we turned around yesterday was the surprise of Yellen's advance release of her comments. Today's q and a will affect the market of course. I won't be able to watch but good luck to everyone else who can.
  • #28,090
  • Nov 14, 2013 8:14am Nov 14, 2013 8:14am
I am holding my long contract.

with a TP 1297.

with the news , any suggestion where gold is heading?

thanks in advance
  • #28,091
  • Nov 14, 2013 8:26am Nov 14, 2013 8:26am
My two hour chart tells me that I was even more late than I actually thought earlier on, in fact there was quite the long there around 1270 with the double inside bar. My only excuse for totally missing it was the fact that I was litterally asleep. Seems I wasn't quite awake yesterday during daytime either too much and too focused on both the daily and the weekly stuff. Feeling lucky to have gotten in somehow. Lucky and dumb so late.
  • #28,092
  • Nov 14, 2013 8:27am Nov 14, 2013 8:27am
Quoting venzen
{quote} KO and I are counting this differently - for me we have been in wave C since the low near 1260 a few days ago. We are now going up in the final subwave 5 of C... give it time to unfold - sometimes it will look like it's topped but will push further each time till we clear 1300 M15 from 8hrs ago {image}

I also think wave C starting and am targeting 1314.cheers
  • #28,093
  • Nov 14, 2013 8:34am Nov 14, 2013 8:34am
Quoting jimmij
{quote} Thanks. Now lets set SL @1283.2 so that I will gain for jonny walker anyhow, and can comfortable wait for 1311.
jimmi, i hope you did the wrong thing and pulled back that SL below 1281 !
cryptocurrency everytime
  • #28,094
  • Nov 14, 2013 8:38am Nov 14, 2013 8:38am
Quoting morfasie
{quote} Where can we view his daily videos?
My mentor sends them to me every morning.

Short worked. Nice profit and removed at 1281.9
You win, you lose. All else is history. The future does not exist.
  • #28,095
  • Nov 14, 2013 8:41am Nov 14, 2013 8:41am
Quoting venzen
{quote} jimmi, i hope you did the wrong thing and pulled back that SL below 1281 !

1/5 gold closed at 1383.2, the rest longs still holding and all silver.
BTW on 1h there is inverted head and shoulders on xag as I see it.
  • #28,096
  • Nov 14, 2013 8:45am Nov 14, 2013 8:45am
Quoting Greenstar
{quote} Only reason I mention it is that I tried it, just before leaving for work yesterday; that's why stop losses are key. I think the reason we turned around yesterday was the surprise of Yellen's advance release of her comments. Today's q and a will affect the market of course. I won't be able to watch but good luck to everyone else who can.

hi Greenstar,

i hope she sticks to the straight-and-narrow during q&a and doesn't say something crazy like "policy objectives? girls just wanna have fun!"
cryptocurrency everytime
  • #28,097
  • Nov 14, 2013 8:48am Nov 14, 2013 8:48am
Quoting jimmij
{quote} 1/5 gold closed at 1383.2, the rest longs still holding and all silver. BTW on 1h there is inverted head and shoulders on xag as I see it.

noted - and an inverted something&shoulders in M5 XAU too
cryptocurrency everytime
  • #28,098
  • Nov 14, 2013 8:56am Nov 14, 2013 8:56am
if gold break 1288 we should see 1295-98 next
  • #28,099
  • Nov 14, 2013 8:56am Nov 14, 2013 8:56am
http://i1116.photobucket.com/albums/...ps61c2ad7c.jpg

Hi, first time posting in Gold thread, hope to be able to learn gold and silver trading.

Flushed out 2 weeks ago on my first gold and silver trade by anticipating bottoms. Lesson learnt, trade small or trade demo if new.

Thanks in advance.
The true fact is market doesn't care, risk mgt is important.
  • #28,100
  • Nov 14, 2013 8:59am Nov 14, 2013 8:59am
I'd be extremely carefull with shorts, my 8H chart kinda morphed yesterday into a long signal too conforming the 2H signal: an Ib with a key-reversal just a bit further horizontally ... seems like this is putting in a much stronger bottom in then I think we'd actually have here ... the long is going to be a keeper for a while ...
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