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

  • #29,261
  • Nov 27, 2013 5:52pm Nov 27, 2013 5:52pm
Bitcoin just hit $1080 - it may get close to the price of Gold but it won't stay there - too many sell orders filling in below: $37mil bids vs $20mil asks
cryptocurrency everytime
  • #29,262
  • Nov 27, 2013 5:56pm Nov 27, 2013 5:56pm
Quoting venzen
{quote} GL, also consider duplicating that TL and placing it under the decline - you'll notice a perfect channel which is the hallmark of a motive wave - it's reversal is inevitably on (or slightly below) the lower channel TL. We can speculate that it may have already bottomed and reversed and is now on the way up, but my own experience is that - as long as PA is pointing downward while inside the channel TLs - direction is down. Typical behaviour following reversal is a thrust upwards through the channel and out above the upper TL - but this does...
I wonder if what you mean by trend channel reversal is shown in the chart 4H chart below.
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  • #29,263
  • Nov 27, 2013 5:57pm Nov 27, 2013 5:57pm
last post for today.
monthly close is near... yearly close either
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just do it
  • #29,264
  • Nov 27, 2013 6:25pm Nov 27, 2013 6:25pm
Quoting thodie
last post for today. monthly close is near... yearly close either {image} {image}

To me this looks like a potential double bottom hitting before years end...

Also if you look back to your July 2008 box end, you can see the strong support, old resistance we already hit at 1230.

Anything can happen, yet I don't see 1200 going even with a 20 USD reaction low or wick to 1180 as we had last time.

Furthermore and lastly, 1000 and rather 1050 are protected by massive SMA support as well as an even stronger horizontal support / again old resistance.

You seem to have a line at 1k.

Using your chart thodie ! THX!
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #29,265
  • Nov 27, 2013 6:31pm Nov 27, 2013 6:31pm
Time for a rest!

In any case a few good products to keep in mind for the future.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #29,266
  • Nov 27, 2013 6:39pm Nov 27, 2013 6:39pm
thx xtrade,

i use the SMA 20/50/100 in my trading, the price "behavior" itself near the SMA, i only post it with the 1month TF.
didnīt make a screenshot of all charts with the SMAīs. it remarkable.

the line on the chart below is the SMA100 today @ 1099$ - next month probably 10bucks higher.
so if the doulbe bottom fails the SMA100 should provide a decent support as usually.

now really last post, good night
just do it
  • #29,267
  • Nov 27, 2013 8:10pm Nov 27, 2013 8:10pm
Quoting Gold-lover
{quote} Nice chart. But divergence on what direction? To the downside? Thnx
it had already played out . with US holiday around, its going to be subdued .
  • #29,268
  • Nov 27, 2013 9:48pm Nov 27, 2013 9:48pm
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Here is my silver chart. Planning to buy from last green zone.
Discussion is an exchange of knowledge;argument is an exchange of ignorance
  • #29,269
  • Nov 27, 2013 10:06pm Nov 27, 2013 10:06pm
Quoting Gold-lover
{quote} I wonder if what you mean by trend channel reversal is shown in the chart 4H chart below. {image}
I very much doubt that, we have had a double top, with a pin bar with high volume at each top, and in the lows, the volume is very low, if a reversal was to occur, I would expect higher volume in the low and lower volume on the second top, for now I think we will have some sideways movement due to the US bank holiday then down to 1210, maybe 1180, but my short TP is 1210 to be on the safe side of things, I will start looking for longs around that area after a double bottom occurs on H4 with high volume on the 2nd bottom, note that this will be a double bottom on the weekly chart...

In the screenshot, you can see no volume in the low compared to the high... Also, we have completed a retrace to the 23.6 fibo, which has happened after every drop.
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insideBars==boss
  • #29,270
  • Nov 27, 2013 10:51pm Nov 27, 2013 10:51pm
I believe that gold will turn strong from now onward.........
Face both Win and Lose bravely
  • #29,271
  • Nov 28, 2013 12:01am Nov 28, 2013 12:01am
Good morning everyone!

Looking like we are still in the range, from 1236 (or 1234) to 1241, which already have been tested at the beginning of Asian session.

If 1241 holds once more, I will cover most of my longs @ 1240-1241. Dont know what London traders will think, but it is definitely interesting to test the low again in UK session.

Turn to ranging mode...
  • #29,272
  • Edited 12:45am Nov 28, 2013 12:16am | Edited 12:45am
Cool! seems good luck is with me!

Thinking the stops of sellers will be triggered around 1242-1245, which may further lift the price to 1247.5?

Will sellers become buyers after this breath? Or we are back into range again?
  • #29,273
  • Nov 28, 2013 12:54am Nov 28, 2013 12:54am
By the looks of the PA we are getting into a tight trading space here, I am waiting for a break of this triangle before I make any decision on what to do. Orders set incase I miss the breakout cos I am gona take a sleep lol.

Rejecting the daily pivot at the moment though.
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insideBars==boss
  • #29,274
  • Nov 28, 2013 1:16am Nov 28, 2013 1:16am
Looking at geometry, I'm wondering whether gold doesn't break lower, but turns around 1245.5? Could be good if it does.
You win, you lose. All else is history. The future does not exist.
  • #29,275
  • Nov 28, 2013 1:27am Nov 28, 2013 1:27am
Quoting LarryLU
{quote} On technical side, we just touch BB lower band two days ago. Usually a touch of either upper/lower side means strongly overbrought/sold, and commodity has very strong mean-reversion price action (since I was quantitative analyst before, so I believe it, and I believe mean-reversion is frequently used in the trading system/alsorithmic system of many hedge funds trading commodities).
Which BB and which TF, please?
  • #29,276
  • Nov 28, 2013 1:31am Nov 28, 2013 1:31am
Quoting ikdenk
{quote} Which BB and which TF, please?
Normal BB with period 20 and stdev 2. TF is daily.
  • #29,277
  • Nov 28, 2013 1:41am Nov 28, 2013 1:41am
Looks like no more defending @ 1241
  • #29,278
  • Nov 28, 2013 1:42am Nov 28, 2013 1:42am
Quoting LarryLU
{quote} Normal BB with period 20 and stdev 2. TF is daily.
Very impressive indeed, especially when you add BB20/3.

I also use these on 5 min chart for scalping, check it out!
  • #29,279
  • Nov 28, 2013 1:48am Nov 28, 2013 1:48am
Quoting ikdenk
{quote} Very impressive indeed, especially when you add BB20/3. I also use these on 5 min chart for scalping, check it out!
Looks nice on 5m chart! GJ!
  • #29,280
  • Nov 28, 2013 1:52am Nov 28, 2013 1:52am
Quoting LarryLU
{quote} Looks nice on 5m chart! GJ!
Dear, I think u have a position in oil too, so what r u going to do with it. Stop Loss or wait for the upward move.
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