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

Quoting Uglybug
Can someone please explain this price action?
testing 1217 - if broken - testing 1223-4
Gold Annihilation System
Quoting Uglybug
Can someone please explain this price action?
here it is
Attached Image (click to enlarge)
Click to Enlarge Name: gold 222.jpg Size: 194 KB
Action
Short
Price
1212
TP1
1199 (135 Pips)
TP2
1191 (215 Pips)




SL
1218 (55 Pips)
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Quoting Rebels
Action Short Price 1212 TP1 1199 (135 Pips) TP2 1191 (215 Pips) SL 1218 (55 Pips)

Good move, apart from I have my TP set at 1178, which I think will happen on this run downward if we break the recent H4 low.
insideBars==boss
Good Luck Short Trader... Well Done Long Trader... Cant see much for today, I'm sure that the correct Trend for this last 2013 week still blur. Just need to wait and see. Nothing much I can do for this week just keep my view on Bullish for myself.
You are a Fun-Loving Trader (I do better when i have fun)
One of the great advantages of thin session trading, is ahead accurate measure of volume behavior ... for example, today 2% rally on Sliver confirms either less interested to short under 19.50 or buying tendency above the number ! If you actually notice the rally on Sliver started on a two 5 min candles couldn't close under the number.

This feeds my bias over the range formulated on Sliver, which i have been trading for the last two weeks. It could also be an early indication of a short term " reverse " above 20.00 level. ( But the reverse senario, is still in early stage and remains weak due to lack of momentum )
"It's the Margin, Stupid."
Quoting bugsbunny110
{quote} here it is {image}
Bugsbunny110...thanks. Let me ask the question another way.

The USD looks stronger than it has been for a while. This would suggest a weakening gold price.
But that's not happening. To add insult to injury, it's climbed more than $15 today!

I just don't get it! A modest climb of $5 or 6 maybe, but $15?

So, why did it do this? I'm feeling very bruised.
Quoting Uglybug
{quote} Bugsbunny110...thanks. Let me ask the question another way. The USD looks stronger than it has been for a while. This would suggest a weakening gold price. But that's not happening. To add insult to injury, it's climbed more than $15 today! I just don't get it! A modest climb of $5 or 6 maybe, but $15? So, why did it do this? I'm feeling very bruised.
Put in your mind, that gold chart like deep retracement and in most of times make good patterns which is works good
Battle of the Pitchforks.

4 hour chart

Red down, Blue up.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd 27 Dec.jpg Size: 166 KB
Damn, had my TP on my longs at 1220 for gold and 20.42 for silver. didnt quite make it

Good price action, to me seems bullish if 1210 and 19.68 hold. Good luck to all

For me to HOLD my longs for any decent period I would have to see a break above 1225 and flip it to support in gold and likewise in silver a breach of 20.50 and handle as support.

For now I'm watching PA and will TP if momentum north does not persist.

Mitch
weekly pivot 1214 Daily pivot 1210, above these numbers we go up may touch 1227 i say, yesterday we couldnt stay above 1215 lets see if it can manage now.
Attached Image (click to enlarge)
Click to Enlarge Name: goldm15.png Size: 32 KB
Watching on Sliver 19.80 for a possible low of the second bull leg , if any...
"It's the Margin, Stupid."
They are buying again on dip off the DP

this shitty does not wanna fall anymore......
I would not be trying to fight the current price action. I also would not recommend entering the market right now. These are the days that can burn small accounts.. very volatile moves, can be mistaken for breakouts and infact be fakeouts. Manage whatever positions you have open and get ready for the next range trade (thats where the real money is made)
Quoting jimi
They are buying again on dip off the DP this shitty does not wanna fall anymore......
Jimi do not be eager. ;-) It looks like XAU tested power of bears. If you look on H1 timeframe you can see there is new butterfly pattern (bearish). My opinion is even today we can see test of 1200 and I am still bearish (still not tested AB=CD target) - XAU may test 1180 zone before the end of 2013.

I wish you a lot of green pips ;-)
Quoting monman
{quote} Jimi do not be eager. ;-) It looks like XAU tested power of bears. If you look on H1 timeframe you can see there is new butterfly pattern (bearish). My opinion is even today we can see test of 1200 and I am still bearish (still not tested AB=CD target) - XAU may test 1180 zone before the end of 2013. I wish you a lot of green pips ;-)
you are right ;-)

but now we have on H1 tf a bullish pinbar right off daily pivot

strong bullish signal seems to me
Quoting jimi
{quote} you are right ;-) but now we have on H1 tf a bullish pinbar right off daily pivot strong bullish signal seems to me
Yes, I know about that pinbar, but if you trade pinbars, you know that the first (and in market with low volatility often the last) target is HIGH of previous candle - 1212.45. I do not think it is big issue ;-)
can anyone suggest a good trading platform for me ty.... ever heard of neto trade ...r they good ty
Quoting jimi
{quote} you are right ;-) but now we have on H1 tf a bullish pinbar right off daily pivot strong bullish signal seems to me
No hard feelings jimi, you seems jumpy. Price hardly moved much since the past hours. (Because of your post, I went to check if my broker feed is down, but feed is good). H1 pinbar don't look bullish to me.
The true fact is market doesn't care, risk mgt is important.
Quoting jimi
{quote} you are right ;-) but now we have on H1 tf a bullish pinbar right off daily pivot strong bullish signal seems to me
There is a double top, with a bearish engulfing, and if you look at H4, there are 2 bearish pin bars, so I am selling.
insideBars==boss
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