XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1567 | Metals Mine

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

  • #31,321
  • Jan 7, 2014 7:17am Jan 7, 2014 7:17am
Quoting Pipsoholic
My personal view on Gold... {image} Will look for long at 1230 area.
Update... Targetting 1250 level.
Attached Image (click to enlarge)
Click to Enlarge Name: gold 071014.PNG Size: 86 KB
Catch your dreams!
  • #31,322
  • Jan 7, 2014 7:29am Jan 7, 2014 7:29am
i see
Pecuniae obediunt omnia
  • #31,323
  • Edited 8:18am Jan 7, 2014 7:35am | Edited 8:18am
Look at D1 chart...
there is a descending cable and 1 pin bar with a shooting star coming up...
There is a H&S on H1...
I think we are going down...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 39 KB
If you do not know who you are, the Forex is the worst place to find you
  • #31,324
  • Jan 7, 2014 8:25am Jan 7, 2014 8:25am
Quoting Spec_And
{quote} Chart update, still looks on track to 1267, though we might get a little bit of profit taking at 1244. {image}
And we did get the profit taking, could retrace all the way back to 1219/1220.
"Where you want to be is always in control, never wishing, always trading.
  • #31,325
  • Jan 7, 2014 8:29am Jan 7, 2014 8:29am
Quoting Spec_And
{quote} And we did get the profit taking, could retrace all the way back to 1219/1220.
I am thinking first support @ 1223, second @ 1215. 1215 could be a strong support.
  • #31,326
  • Jan 7, 2014 8:34am Jan 7, 2014 8:34am
Have U missed the boat? Wondering whether to jump in now or wait for correction?
Face both Win and Lose bravely
  • #31,327
  • Jan 7, 2014 8:36am Jan 7, 2014 8:36am
Quoting Cowboy11
Have U missed the boat? Wondering whether to jump in now or wait for correction?
....wait for a correction and sell at 1231... tp 1216
If you do not know who you are, the Forex is the worst place to find you
  • #31,328
  • Jan 7, 2014 8:38am Jan 7, 2014 8:38am
Quoting Cowboy11
Have U missed the boat? Wondering whether to jump in now or wait for correction?
Im selling from 1236. Targeting 1223. Current SL 1231
  • #31,329
  • Jan 7, 2014 8:42am Jan 7, 2014 8:42am
Quoting Cowboy11
Have U missed the boat? Wondering whether to jump in now or wait for correction?
Situation doesn't looks good for the bulls. Especially we broke below 1235 (important Fib line).
The true fact is market doesn't care, risk mgt is important.
  • #31,330
  • Jan 7, 2014 8:45am Jan 7, 2014 8:45am
Quoting JimmyC
{quote} I've got this news: Reports said very heavy volume at the time of the price drop was recorded in gold futures–4,000 contracts in one second’s time, which could have been a big “fund” trader taking a long futures trade off the table. The price of February Comex gold was trading at $1,245.40 an ounce at 10:13 a.m. eastern standard time Monday morning, and then within one minute fell to a low of $1,212.60.
This is what I was saying yesterday.

Quoting Luther
... You'd have to know what price the contracts were bought to calculate the PL. I meant a single gold fund was the source of the dump versus a broader sentiment sell off, which could be a bank or anyone with a large ETF holding, not a hedge fund specifically.
Even though the spike was a single seller it gives the support level for downtrend continuation if it's retested and doesn't hold. If we don't bounce, it puts 1218 and 1214 back into play.
  • #31,331
  • Jan 7, 2014 8:47am Jan 7, 2014 8:47am
Quoting skassacomput
Look at D1 chart... there is a descending cable and 1 pin bar with a shooting star coming up... There is a H&S on H1... I think we are going down... {image}

Now I think that price will retrace from 1225 to 1231. Then go down to 1216

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 28 KB
If you do not know who you are, the Forex is the worst place to find you
  • #31,332
  • Jan 7, 2014 8:51am Jan 7, 2014 8:51am
Quoting goldJunkie
{quote} I can see Gold levels going way below 1190. I think it'll go down to 1120 or even lower. I'm simply trying to follow the recent trend. There would be a reversal, but, don't think its there yet. It seems Gold will remain erratic and irrational before it peaks out sooner than later.
I think I am on my path & this looks fine by far, not bad for a newbie even if its a beginner's success.
  • #31,333
  • Jan 7, 2014 8:53am Jan 7, 2014 8:53am
Quoting LarryLU
{quote} Im selling from 1236. Targeting 1223. Current SL 1231
I believe that you may close too early.
Face both Win and Lose bravely
  • #31,334
  • Jan 7, 2014 8:57am Jan 7, 2014 8:57am
Only looking at the TA on my weekly chart.. However, it kind of looks like a bearish continuation pattern. Nevertheless, the week is not over yet, so it is really too early to say for sure. However, if it is a bearish continuation pattern, it is one that will take it below 1180 for sure in my opinion.

Ya'll trade at your own calculated risk and good luck.
Luck has no place in trading. Leave that for the poker table.
  • #31,335
  • Jan 7, 2014 8:57am Jan 7, 2014 8:57am
Cut lost with min. loss. Didn't notice head n shoulder pattern.
Catch your dreams!
  • #31,336
  • Jan 7, 2014 8:58am Jan 7, 2014 8:58am
This wave should be quite strong. Most likely will break yesterday's low.
Face both Win and Lose bravely
  • #31,337
  • Jan 7, 2014 9:05am Jan 7, 2014 9:05am
Quoting Pipsoholic
Cut lost with min. loss. Didn't notice head n shoulder pattern.

This is the H&S on H1
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 68 KB
If you do not know who you are, the Forex is the worst place to find you
  • #31,338
  • Jan 7, 2014 9:19am Jan 7, 2014 9:19am
next flash crash to 1250
More on my Blog...
  • #31,339
  • Edited 12:14pm Jan 7, 2014 12:00pm | Edited 12:14pm
Buy @ 1230. TP 1249. SL 1224

Excuse me. After further analysis, I think it is not a good entry to me. Closed at BE.

Potential trade to me in next hours is:
Long @ 1221-1223. SL 1219. TL 1249.

In next days I think we can see a test of 1200 again. Then I will buy at that price.
  • #31,340
  • Jan 7, 2014 12:52pm Jan 7, 2014 12:52pm
Quoting skassacomput
{quote} This is the H&S on H1 {image}
Well spotted, good trade

Attached Image (click to enlarge)
Click to Enlarge Name: 1H Gold (FEB-14).png Size: 19 KB


Note DXY for the XAUUSD traders

Attached Image (click to enlarge)
Click to Enlarge Name: US Dollar Basket (DEC-13).png Size: 21 KB


Attached Image


Good night traders

G/L
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