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XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #28,722
- Nov 22, 2013 1:17am Nov 22, 2013 1:17am
Good chance of a retracement back to 1258...............{image}
in this chart what shold be stoploss and why?
if you can explain it..................
- #28,724
- Nov 22, 2013 2:00am Nov 22, 2013 2:00am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
{quote} Ahh, thanks for the reply, appreciate itHave you a link to any articles you find useful regarding it, or should I just google it?
Money Makes Money
- #28,725
- Nov 22, 2013 2:03am Nov 22, 2013 2:03am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Money Makes Money
- #28,726
- Nov 22, 2013 2:08am Nov 22, 2013 2:08am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Money Makes Money
- #28,728
- Nov 22, 2013 2:12am Nov 22, 2013 2:12am
{quote} here y'go {image} {image} {image}
Have you any long positions open at the moment? From what I see with price, it is moving up very slowly, but not making any new highs, from watching this happen over and over again, i think price is pushed up to where the banks/MM want it, then it sells off, just a thing to maybe watch out for.
insideBars==boss
- #28,729
- Nov 22, 2013 2:28am Nov 22, 2013 2:28am
- Joined Jul 2011 | Status: good | 4,295 Posts
{quote} Thanks, I will take a read over those later on this afternoon
Price manipuation is likely, because if yesterday's low was the bottom then PA is hanging around for what for?
Maybe PA creeps lower again to a nominal new low like yesterday. There is just no conviction in any of the moves - up or down.
cryptocurrency everytime
- #28,731
- Nov 22, 2013 4:49am Nov 22, 2013 4:49am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Money Makes Money
- #28,733
- Nov 22, 2013 5:10am Nov 22, 2013 5:10am
- Joined Jul 2011 | Status: good | 4,295 Posts
lot of work you give me there, rhythmrig! perhaps you can put it on a chart and save the global audience having to repeat it individually
I get your point though. There is the opportunity for market bears to take this thing and tear it down. However: coming down - ever since August - there has been H&S after H&S and now in the second downtrend since then more potential H&S patterns are tippy toed around and then its down a bit - oh no - up a bit more - oh my, back down a bit more... So, my question is why would this time be different? See what i mean?
The bears have had two downtrends now and this time they came within $60 of the Cycle degree low and still... a bit to the right, down ... right more... it's not a piece of pooh, man! it's Gold! just do the deed we're all gathered for and take this thing down!
If they haven't done it by now I don't see it happening this time round. Going up is more profitable, if you look at the uptrends since the June low, they're swift and dynamic.
I get your point though. There is the opportunity for market bears to take this thing and tear it down. However: coming down - ever since August - there has been H&S after H&S and now in the second downtrend since then more potential H&S patterns are tippy toed around and then its down a bit - oh no - up a bit more - oh my, back down a bit more... So, my question is why would this time be different? See what i mean?
The bears have had two downtrends now and this time they came within $60 of the Cycle degree low and still... a bit to the right, down ... right more... it's not a piece of pooh, man! it's Gold! just do the deed we're all gathered for and take this thing down!
If they haven't done it by now I don't see it happening this time round. Going up is more profitable, if you look at the uptrends since the June low, they're swift and dynamic.
cryptocurrency everytime
- #28,734
- Nov 22, 2013 5:22am Nov 22, 2013 5:22am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Good chance of a retracement back to 1258...............
I'm not getting any decent reversal signals so maybe a further drop to 1227 before a bounce.
Money Makes Money
- #28,735
- Nov 22, 2013 5:45am Nov 22, 2013 5:45am
lot of work you give me there, rhythmrig! perhaps you can put it on a chart and save the global audience having to repeat it individually
Ive added a 50 level to all of these ...if you look on the chart posted at the candle on the 18th of June the 5/3/3 stoch hit the 5o level and turned down. Look at the other stochs at this point meaning the high 1385 to 1180 . We have $205 drop from that turn on the stoch......now look at the 5/3/3 on the 19th of November it hit the 50 level and turned down this high is 1277 . 1277 -205 = 1072.
So that method was based on the stochastic observation.
Over to the head and shoulder pattern we have the left shoulder low 1272 and the right low 1249 ......draw a trend line from those two points with ray on and recently price hit 1240 . If you measure the peak of the head to the neckline you get $168 . 1240 -168 = 1072 .
This is a decent probability based on two separate methods measuring price and with two separate patterns that being the head and shoulders formed and the stochastic's.
Also note on the past drop in June that happened over a 9 day period...I Am not saying this will happen or even reach that target but this is why we are here and analyzing charts on direction and probabilities and its what i have picked up over the past few days and to me i would be more confident heading for that target based on the above.
- #28,739
- Nov 22, 2013 6:12am Nov 22, 2013 6:12am
- Joined Jul 2011 | Status: good | 4,295 Posts
{quote} Its a probability........ I'm not going to get into what i think (Big Picture ) at this point is for gold it would take me way too long. I will post a chart as an observation only based on where price is and was then to look left on chart on some recent history and look at some stochastic patterns. I have added three stochastic to the chart. ... {image}
Fine analysis and I like the way you use the stochastic indicators.
This is a real possibility and a high probability opportunity. What we have to do is identify the confirmation signs that will prompt us to take action (open short).
I believe that if PA goes north from here, then this H&S could come back into play in a few weeks, so let's see what gives today!
cryptocurrency everytime
- #28,740
- Nov 22, 2013 6:18am Nov 22, 2013 6:18am
The month chart indicated that it is on the C cycle (ABC), where is the bottom we dont know, it should be this or next month. 1180 is critical, if break, than the target is 960.
Can start to accumulate if your pocket is deep enough.
If this month close above 1180, should try long.
Can start to accumulate if your pocket is deep enough.
If this month close above 1180, should try long.
Face both Win and Lose bravely