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

  • #29,661
  • Dec 4, 2013 12:00am Dec 4, 2013 12:00am
I am also a newbie here but my feel is that Gold will go down
  • #29,662
  • Dec 4, 2013 12:02am Dec 4, 2013 12:02am
Quoting Pip Anon
{quote} Thanks Venzen! To me, gold and silver hold up really well to technicals. I filter out knee-jerk spikes because the key drivers behind the metals are dying.... until the are revived, it's down hill. Fundamentals hold true over the long run. Until sentiment at the institutional level changes, all else remains the same. Now, US prints good data, then gold retests lows 1179 I believe. I still hold a 1038 Q1 target. Silver is a little tricky because it's just more volatile day-to-day, but I believe a retest of yearly lows are in order. Being...

PA,

I like that analysis - the bigger picture in Gold is really so important and you summarized it well.

Bitcoin is not coming off it's highs and I wonder if it's going to just hold above $1000 from now on? Damn, a few days ago Bitcoin and Gold had the same price tag... of course they're functionally and sentimentally different kettles of fish, but the brief parity is significant - somehow - not sure how exactly! The USD is flirting with overbought highs and (if the inverse correlation holds true) we might see Gold push up for a bit from here - i'm looking at the chart now and it's got that 2-steps-fwd-1-step-back look in PA - but as you say: all things being equal - the Fed holds the reigns.
cryptocurrency everytime
  • #29,663
  • Dec 4, 2013 12:39am Dec 4, 2013 12:39am
Quoting venzen
{quote} PA, I like that analysis - the bigger picture in Gold is really so important and you summarized it well. Bitcoin is not coming off it's highs and I wonder if it's going to just hold above $1000 from now on? Damn, a few days ago Bitcoin and Gold had the same price tag... of course they're functionally and sentimentally different kettles of fish, but the brief parity is significant - somehow - not sure how exactly! The USD is flirting with overbought highs and (if the inverse correlation holds true) we might see Gold push up for a bit from...

I am just watching the USD Index now, looking very bullish at the moment, maybe we could see a further drop in gold today. Just a thought.
insideBars==boss
  • #29,664
  • Dec 4, 2013 12:42am Dec 4, 2013 12:42am
Hi XTrade,

How are you?
Here is my planning today...

DRT


http://i43.tinypic.com/2w1zhud.png
  • #29,665
  • Dec 4, 2013 1:15am Dec 4, 2013 1:15am
Quoting Drentaga
Hi XTrade, How are you? Here is my planning today... DRT {image}
Hey, I have seen a lot of people use that indi you have on your chart, do you mind sharing it do I can check it out?

Cheers
insideBars==boss
  • #29,666
  • Dec 4, 2013 1:35am Dec 4, 2013 1:35am
My analysis for the day is gold: Bearish. wait for a retracement and then to short it for the day. Let's see what happens.
You win, you lose. All else is history. The future does not exist.
  • #29,667
  • Dec 4, 2013 1:43am Dec 4, 2013 1:43am
Quoting The Rhodie
My analysis for the day is gold: Bearish. wait for a retracement and then to short it for the day. Let's see what happens.
Hardly any sign of retracement these few days. A slight rally will be sold off immediately. The bears must be hungry.
The true fact is market doesn't care, risk mgt is important.
  • #29,668
  • Dec 4, 2013 2:15am Dec 4, 2013 2:15am
Quoting Ssm
{quote} Hardly any sign of retracement these few days. A slight rally will be sold off immediately. The bears must be hungry.
Winter time now = Bears goes hungry. no intention to hibernate....lol...
can be found where TROUBLE is
  • #29,669
  • Dec 4, 2013 2:36am Dec 4, 2013 2:36am
Quoting The Rhodie
My analysis for the day is gold: Bearish. Wait for a retracement and then to short it for the day. Let's see what happens.
Keep making the mistake of tight stops too early. Made some small losses, but got analysis right so far.
You win, you lose. All else is history. The future does not exist.
  • #29,670
  • Dec 4, 2013 2:49am Dec 4, 2013 2:49am
Quoting The Rhodie
{quote} Keep making the mistake of tight stops too early. Made some small losses, but got analysis right so far.

Trending again. The trend is your friend...........
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 36 KB
Money Makes Money
  • #29,671
  • Dec 4, 2013 2:51am Dec 4, 2013 2:51am
Quoting The Rhodie
{quote} Keep making the mistake of tight stops too early. Made some small losses, but got analysis right so far.
With the current PA, your SL must be really tight. I couldn't even find a decent retracement to short.
The true fact is market doesn't care, risk mgt is important.
  • #29,672
  • Dec 4, 2013 2:52am Dec 4, 2013 2:52am
Hello traders,

After my elliott wave analysis, I will state, the trend of the day for trading.

Action : Short/Sell, 3 wave degrees downtrend

Type signal : BREAK OUT,conservative
Applies to : Traders
Conservative Target :1186.0223
2nd Target :1197.2791
Wave degree (1st) :Minute
Wave :3
Wave degree (2nd) :Minuette
Wave :3
% signals wave 2 :17.1071
% signals wave 3 :63.5993
% signals wave 4 :5.7542
% signals wave 5 :13.5393
Late Exit Alert :1231.6671
Earlier Exit Alert :1228.2441
  • #29,673
  • Dec 4, 2013 3:32am Dec 4, 2013 3:32am
Quoting Ssm
{quote} With the current PA, your SL must be really tight. I couldn't even find a decent retracement to short.
I'm waiting to see gold test 1219.4 before shorting again. Z scope says that ios a potential consideration, but market is weak, and may not make it there.
You win, you lose. All else is history. The future does not exist.
  • #29,674
  • Dec 4, 2013 4:50am Dec 4, 2013 4:50am
H1 bear flag still in play, this implies large downside risk with 1180 as target. It will only be negated if we go higher than 1226.
Attached Image (click to enlarge)
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"Where you want to be is always in control, never wishing, always trading.
  • #29,675
  • Dec 4, 2013 4:53am Dec 4, 2013 4:53am
I have three charts based on what im confident will play out .....remember the head and shoulder pattern on the daily and its target 1072. All these channels and stochastic are based on fib numbers.
Attached Image(s) (click to enlarge)
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  • #29,676
  • Dec 4, 2013 4:58am Dec 4, 2013 4:58am
Mates, Sorry I want to ask a question,
Some friends told me that there is some websites can give you the data of the news specially NF before it is release for the public within 60 seconds before like reuters
So I went to reuters.com and I failed to get it

Is that right?????
  • #29,677
  • Dec 4, 2013 5:24am Dec 4, 2013 5:24am
Quoting bugsbunny110
Mates, Sorry I want to ask a question, Some friends told me that there is some websites can give you the data of the news specially NF before it is release for the public within 60 seconds before like reuters So I went to reuters.com and I failed to get it Is that right?????

tell them that you know the site which gives info about prices before an hour )
  • #29,678
  • Dec 4, 2013 5:26am Dec 4, 2013 5:26am
Quoting eugenyk
{quote} tell them that you know the site which gives info about prices before an hour )
hahahaahhaha
nice comment
  • #29,679
  • Dec 4, 2013 5:31am Dec 4, 2013 5:31am
Watch out for the USD announcement today (not that you need warning). Gold has revolved around very symmetrically. I would be very careful here. It looks like a dangeous setup that can go either way and for a big price change.
You win, you lose. All else is history. The future does not exist.
  • #29,680
  • Dec 4, 2013 5:34am Dec 4, 2013 5:34am
I think we will test 1205-1200 level soon.
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