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

Sell Gold....

Here are some unusual analysis Projections from 25th November's close and open into 26th's Australian open. Because of the fascinating alignment through the day I sat up and watched this to analyse the setup to see how accurate it would become. The multi-frame Z-Scope analysis showed well in advance that there was potential for te price to move into the projected price box. Anyone who takes the time to study this image will notice that everything is entirely geometrically measured and placed. The patterns are exactly parallel and lengths are identical and boxes proportiately sized to the drawbacks. The rules for this systemare simple, but effective. It's not very often that you see a system so simple for Techgnical analysis that is so incredibly accurate and is successful more than 80% of times. It is particularly good for trending sets to pick peaks and turning points.

The red zones are danger times where I avoid trading unless there is clear evidence of a good trade occuring, as in this instance. I modified the Fibo time zones to document key timing points in the day too. By way of description:

To help focus timing points, use of fibo time scales from low leg to next low leg was used. Another fibo timing was used to measure the volume inputs.
Coincidental trading areas are measured to find potential market turning points from historical data.

1. The white Z-scope shows the 1st leg's projected termination potential: Success.
Convergence notes:
-The projection leg was mirrored to trend by spikes upwards as is usually done with channels to obtain the projection box area center point;
-Swing point timing fib coincided nicely with the LBMA fix;
-Provided the first price fib with retracement for the day.
-A Low to High timing fib was used to analyse potential timing points.

2. The blue Z-scope shows the 1st leg's 2nd projected termination potential: 100% Successes. (3 timing, 3 pricing)

3. The green Z-scope shows the Blue Z-Scope's leg's projected termination potential: 100% Successes. (2 timing, 2 Prices)
-Missed the green short opportunity...
-Pricing Fib connected almost exactlyand was in the blue box, but market moved away too fast so I waited for better entry.
Convergence Notes:
-Market delayed move, so parallel alignment was used for projection box area center point
-A Low to High timing fib met exactly with Z-Scope alignment projection box area center point!
-Z-Scope terminated within the Larger Blue's scope.
-Fib level hit the exact point of timing.

4. The yellow Z-scope shows the Green Z-Scope's leg's projected termination potential: 50% Successes. (2 timing)
Convergence Notes:
-Scope area terminated inside both previous scopes' regions which was a very strong indicator that that was the turning point in the market.
-Timing fib point coincided perfectly with last point testing the HoD which meant a short opportunity. When it pulled back upwards, I placed a new entry short within the 3 zones immediately after the high test. Short @1256.3 [1 pip short of best poss. entry!] Stop @1258.1
-Broke my No Trade Zone rule because it was grey-area time of 24 mins out of max 30 mins trade potential.



Summary:
Entire leg was in-channel topping action. All indicators were proven accurate at the time.

I liked this analysis which was why I have saved it for the forum. Every day I erase everything and start from scratch as though I have never seen it all before. Fresh eyes and an new perspective. No bias and no baggage. Anyone wanting to learn that system has only to study the image to see how it is done.

It was on the rug!

Ask was 1252.1, bid was 1251.6

THis is the funniest video of market traders I have ever seen. They all use the BAA system, to great effect.

What a joke! Honestly you really should rethink who you get your trade advisement / investment advice from.

The second this idiot appeared wearing a mask of Zimbabewe bucks and sounded even a quarter serious I had to shut it off, while laughing of course.

From what I did manage to hear in response-
This one is brilliant "GOLD and SILVER are not backed by anything" Let's think about that...... - - - well, no S#!T ! They are Gold and Silver. Tangible Assets.
FIAT currency is BACKED by NOTHING. It is simply a form of payment to settle debts / legal tender - public or private as it says on the USD.
Nor is it able to be legally converted into anything else as it was when we and other countries were on the Gold Standard.

This is the reason why they can continually just print away problems causing what you can see with the ZIMBABWE notes INFLATION which is POSITIVE for gold.
In the case of the Zimb's they are in a mode known as HYPER INFLATION.

Why not just print more if we don't have to back it by anything??....................................................

And this idiot is standing there telling you / us that he believes in stockpiling this currency... I mean give me a break.

FIAT - "Let it be done" or rather for currency "it shall be" in terms of this worthless slip of cotton paper with ink on it is worth 100 USD -
WHY? - Cause we said so, and it says it on the front.

In any case - not to bash or burst your buddies brilliant investment plan but he should know-----------

"""

Despite attempts to control inflation by legislation, and three redenominations (in 2006, 2008 and 2009),

use of the Zimbabwean dollar as an official currency was effectively abandoned on 12 April 2009 due to the skyrocketing inflation. According to some sources, a person would starve on just a billion Zimbabwe dollars. [3]This was a result of the Reserve Bank of Zimbabwe legalising use of foreign currencies for transactions in January 2009.[4]

Currencies such as the South African rand, Botswana pula, pound sterling, euro, and the United States dollar are now used for all transactions in Zimbabwe; the policy of the government of Zimbabwe has insisted that any attempts to reintroduce Zimbabwean currency should be considered only if industrial output improves.[5]

" " "

I'm sure the vast majority of the country wishes they had even a 10th of an ozt of zgold in hand.

Morning all,

I agree with your assessment, XT, except on the point of Gold ownership. Why? Because I think the problem is country specific - meaning the hyperinflation is fenced in by the country borders and the logistics of survival are therefore tied to physically being inside the borders. All transactions are in fiat, so when the hunger pangs start one has to convert one's Gold to fiat and then buy food with the fiat, since a market trader or shop won't accept the Gold as payment. How do they know it's real Gold? And even if it IS, the vendor/shop owner will have to convert it to Fiat to settle inventory purchase or other fiat transactions.

It's reminiscent of Germany in the 30s or Lebanon during the 80s - once hyperinflation has reduced the majority to day to day survival, it sucks in businesses who provide commodities and services too and everyone in the country borders lives hand-to-mouth. Yet, cross the border and the problem vanishes! But neighbouring countries impose strict movement control to prevent influx.

So, not saying you are wrong - you're right: even the most extreme Gold pessimist would realize the value of Gold in such situations - but what I'm getting at is that a fiat based economy in hyperinflation spirals downward precisely because it uses a baseless currency. It destroys wealth and if Gold owners do not shift their wealth out of country quickly - AND migrate at the soonest - they are guaranteed to live hand-to-mouth. And that shows the end game - fiat is clearly a cancer because when things go wrong - everything, including Gold - loses value in the contained region caught in hyperinflation.

Deflation is another story - and we're probably going to learn all about it in the coming years - as debt becomes unsustainable in more and more regions. This is where I think Gold will show it's true value. Not as a currency or trade token but as a commodity that is convertible to cash - the same cash that is in abundance during hyperinflation becomes the scarcity during deflation. So fiat is with us for a while longer until the return of a Gold standard or encrypted value token can replace it!

Venzen, I get what your saying and that's why I put "wish." Some banks in other countries will accept and dispense gold and silver in turn for cash.

Also at the end I included that this currency no longer exists or rather is "USED" due to the fact that even I think 20 Billion would not buy enough for a day's food for a family.

Also, in the beginning of the ZWD it replaced the Rhodesian dollar and was initially worth more than the USD!

The wiki post on how the country kept redenominating the notes is actually quite interesting.

The link is in the last post - hyperlinked to some words about cancellation.

Cool ! I used to have four 23" screens too at one time ... when I tried to immitate the 'Irish Gambler' ... I had extremely hot streaks for a while .... dan days when I totally sucked ... sometimes I saw how everything interlinked perfectly and managed to do over 300 pips in eur/usd on my best day ... but when I sucked I did so too in a big way ...I traded mainly on feel at that time ... I am much more structured and logical nowadays ...

HISTORIC or is that HYSTERICAL POST!!!

this will be the next entry of the trader.

GOLD WEEKLY CHART

(MELTING ICEBERG SHAPE)

We may see sudden drops to the 680-850 area. BE CAREFULL !!!

XT, i intend to check the link as soon as my country internet is back to normal. Thailand's internet backbone is disconnected due to protests in the capital. No major worry... some party politics. When a buddy abroad asked me what's going on via whatsapp i realised 3G is working somehow... Satellite? Anyway, trying to type onthis phone is doing my head in so talk later!

Having a laugh while reflecting over things ... (it should be obvious where I got the first part of this post from lol): http://localsfoolsgold.blogspot.be/2...ting-over.html

Thanks.

Looking for another test of 1255-1258 in the next session with strong rejection from those levels to confirm the top.

I hope my trade plan works out.

People (((and I say "people" because this is not just geared towards the OP, rather there is becoming a crowd all with a similar naked LT chart and similar target/s)))
like to keep throwing around 500 to 700 dollar drops in gold that "should be coming" by next quarter with absolutely no fundamental, news, or really even technical reasons.

Even if gold were to drop to 700 unless all global worries about finance were to vanish overnight, jewelers, bullion banks and others who use gold to hedge no longer saw the need to be hedged, and why not throw in several central banks selling lots of metric tons into the market, after an almost 700 USD correction from the high to current price it is just not feasible to give these forecasts for the upcoming weeks.

At least people should provide some kind and at that - VARIOUS - different supporting reasons of WHY they "think" this "might" happen.

All I seem to see from the people that are posting this is all of a sudden they are on a weekly or monthly - Likely because the H4 is moving sideways, and see a support around 700 and guess what - now that number is on the chart cause' their on the monthly.

Now, I am not ruling out any possibilities as the market has proven time and time again it can and will do anything. But rather asking for some valid reasoning behind
these sweeping statements that float around making them especially questionable when condensing even larger moves ie: 650 USD into a short and "undetermined" usually reported as "soon" time frame.

-----------> RELATED <-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

This would be the basically the equivalent to my saying - "Soon" or by Q1- 2004

- Brent Crude will be trading @ 55 USD per barrel.

Award Winning Analysis. Thank you.

Hello traders and have a great weekend.
Is there a head and shoulder forming in 15 TF ?

Looks like it..

What's it going to be?

NetDania Friday close $1251.14