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

  • #30,921
  • Dec 23, 2013 12:24am Dec 23, 2013 12:24am
:thumbsup

COOL! I'd like to do some discussion in here on future targets after the new year!

Quoting Mitchoss
We are on the same page I like that. Mind you none of my trades will be held for an extensive period of time, UNLESS we see a surge through 20.50 on silver, a retreat and great bounce off 20.50 flipping it into support. Similarly in gold, a break out and re-test of 1250 flipping it to support. {quote}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,922
  • Dec 23, 2013 12:46am Dec 23, 2013 12:46am
Friday clear break of 1200 resistance already turned into support with no more testing?
  • #30,923
  • Dec 23, 2013 1:04am Dec 23, 2013 1:04am
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Pecuniae obediunt omnia
  • #30,924
  • Dec 23, 2013 1:24am Dec 23, 2013 1:24am
I personally would have liked to see a stronger bounce off 1200, but the markets are thin so it might be all we have to work off at this moment.

Trade with SL's in place. Markets can be quite volatile with low volume - high swings

I am personally hoping for a run at 1220 tonight. I wouldn't close any of my positions, I would hedge and see how the 1210 reacts first before making any calls to hold long or close my longs.

I'm happy either way, its been a profit day so far, and my SL are now at BE after closing a couple of positions.

Quoting jimi
Friday clear break of 1200 resistance already turned into support with no more testing?
  • #30,925
  • Dec 23, 2013 1:26am Dec 23, 2013 1:26am
Yes mate I will be very active in January, I can see a great month of range trading with all the discussions around the FED. Alot of money to be made in range trades.

Quoting XTrade
:thumbsup COOL! I'd like to do some discussion in here on future targets after the new year! {quote}
  • #30,926
  • Dec 23, 2013 3:41am Dec 23, 2013 3:41am
can see some bearish bars i think ..
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  • #30,927
  • Dec 23, 2013 3:45am Dec 23, 2013 3:45am
short:

Price 1202.5
TP1 1191 (115 Pips)
TP2 1182 (205 Pips)

SL 1209.0 (65 Pips)
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  • #30,928
  • Edited 4:46am Dec 23, 2013 4:25am | Edited 4:46am
Hey Guys ,

double bottom Potential in weekly chart !
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Find your passion and work hard
  • #30,929
  • Dec 23, 2013 5:21am Dec 23, 2013 5:21am
I know this is not the setting for DOW trading, but is anyone else seriously considering shorting right now at 16230... I won't, even though my indicators are screaming to. I'll be interested to see where we sit tomorrow morning on the DOW. If that thing falls, I expect gold/silver to go up.

I feel this is a dummy breakout and will tank hard in Jan, as the powers to be do not want to see more tapering, and this was a mere 'test' to see if they could keep floating the market this way.

my $0.02.. just throwin it out there
  • #30,930
  • Dec 23, 2013 5:38am Dec 23, 2013 5:38am
Quoting Mitchoss
I know this is not the setting for DOW trading, but is anyone else seriously considering shorting right now at 16230...
I'm not a Dow player but i wouldn't consider shorting any indexes or equities right now. Momentum , sentiment & recent data shows great improvement in the USA economy ... so price may correct , but not sure if its worth the risk!
"It's the Margin, Stupid."
  • #30,931
  • Dec 23, 2013 6:16am Dec 23, 2013 6:16am
Quoting saeedbarzvar
Hey Guys , double bottom Potential in weekly chart ! {image} {image} {image} {image}
Sorry it's impossible for time being to see 1500 level , gold price targeting 1100 - 1050

"
More Declines
Bullion reached $1,186 an ounce on Dec. 19, within $6.60 of this year’s low reached in June. Thirteen analysts surveyed byBloomberg News expect gold to fall this week, 10 are bullish and four neutral. That’s the fourth bearish outlook in five weeks.
Futures slumped 29 percent this year to $1,194.10 an ounce, poised for the first loss since 2000. The Standard & Poor’s GSCI gauge of 24 commodities slid 1.5 percent, while the MSCI All-Country World index of equities jumped 18 percent. The Bloomberg Dollar Index, a gauge against 10 major trading partners, rose 3.5 percent. The Bloomberg Treasury Bond Index fell 2.9 percent.
Gold “is now likely to grind lower throughout 2014”,Jeffrey Currie, the head of commodities research at Goldman Sachs Group Inc. in New York, said in a telephone interview Dec. 19. Prices will reach $1,050 by the end of 2014, the bank said in a Nov. 20 report. Societe Generale SA and Bank of America Merrill Lynch are also forecasting more declines.'
GREENIUS
  • #30,932
  • Dec 23, 2013 6:21am Dec 23, 2013 6:21am
my view
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GREENIUS
  • #30,933
  • Dec 23, 2013 7:17am Dec 23, 2013 7:17am
Quoting greenius
my view {image}
i may be wrong but in my view your are selling into a possible double bottom.
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just do it
  • #30,934
  • Edited 1:06pm Dec 23, 2013 7:45am | Edited 1:06pm
Quoting thodie
{quote} i may be wrong but in my view your are selling into a possible double bottom. {image}
Double bottom still a possibility and not yet formed to based our analyses, also find flag patterns formed continues
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GREENIUS
  • #30,935
  • Dec 23, 2013 8:02am Dec 23, 2013 8:02am
Long gold from my rejection zone hope it breaks 1205-1207 TP 1220
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  • #30,936
  • Dec 23, 2013 8:09am Dec 23, 2013 8:09am
I don't believe in the validity of the double bottom either.

Once we break through 1180 it's going to be a very quick trip down to 1130/40.
  • #30,937
  • Dec 23, 2013 8:26am Dec 23, 2013 8:26am
Among most of double bottom, the second rejection is more quick than the first one, so this is why I think this time we can see a more deep price.
  • #30,938
  • Dec 23, 2013 8:46am Dec 23, 2013 8:46am
i think double bottom or double top is not a character of xauusd price actions. i can not see any double bottom or top from 2000 on major charts .
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  • #30,939
  • Dec 23, 2013 9:43am Dec 23, 2013 9:43am
Quoting sel
i think double bottom or double top is not a character of xauusd price actions. i can not see any double bottom or top from 2000 on major charts . {image}
Yeah, looks more like a bear flag continuation than double bottom to me...
"Where you want to be is always in control, never wishing, always trading.
  • #30,940
  • Dec 23, 2013 11:31am Dec 23, 2013 11:31am
Quoting greenius
my view {image}
same here

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