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

  • #31,381
  • Jan 8, 2014 5:00pm Jan 8, 2014 5:00pm
trust it. 8am -12 pm sometimes you can finish the day by 10:30 am est.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,382
  • Jan 8, 2014 5:04pm Jan 8, 2014 5:04pm
Quoting XTrade
trust it. 8am -12 pm sometimes you can finish the day by 10:30 am est.

'SH!T - IN all honesty sometimes the day is done in a half hour or less.

by knowing news, knowing S/R, positioning and risking properly. NO THEY ARE NOT ALL WINNERS -

buT,

More OFTEN than NOT - THEY ARE - if you do the homework.

if and only if. this is not solely a tech game.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,383
  • Jan 8, 2014 5:41pm Jan 8, 2014 5:41pm
This is my view, entering on the break on a 6 hour pin bar.
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insideBars==boss
  • #31,384
  • Jan 8, 2014 5:47pm Jan 8, 2014 5:47pm
done - within the exactr dollar...


Quoting xtrade
damn, man.... There's my test and almost close to a 30 cent or 50 cent difference- shit -- cant get much closer! I really gotta say here for the noobs there is a ton to learn. A gold / silver / pt / pd and usdx as well as eur / gbp / aud ticker main two for gold first - always on your screen, if not a chart. For the noobs - chart daily watching, not daily bars - just daily price action in respect to news / fundies, then techs should always be your backside "jump off" or -take trade- points. Really think i am that psychic? Well, maybe 25%... Lol...
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,385
  • Jan 8, 2014 5:48pm Jan 8, 2014 5:48pm
Done again.. sorry for double.. people need to learn though....

20 cents off close!!!!!!!

Quoting XTrade
{quote} ediT: 50cents...sorry! 30 CENTS OFF WITH AN HOUR TO gO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! all in good fun, after enough time it's routine! {image}
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,386
  • Jan 8, 2014 10:27pm Jan 8, 2014 10:27pm
Looks like a big decision point coming up for Daily / Weekly gold.

Daily seems to be supporting the weekly divergence (earlier post ) but...

“Things always become obvious after the fact”
― Nassim Nicholas Taleb
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  • #31,387
  • Jan 8, 2014 10:48pm Jan 8, 2014 10:48pm
After falling nearly $300/oz. on 6/28, Gold (XAUUSD) has just completed a retest of 6-month lows in the 1188 area on 12/20. On the chart above, you can clearly see the double pattern unfolding. Gold’s slow and steady rebound has led to three days above the previous downtrend line. RSI is a technical indicator that traders use to determine momentum.
RSI generates a buy signal when it moves below 30 and rise to above 30. RSI also generates a buy signal when it moves above 50. RSI stands at 54 which is bullish for gold. Measuring the height of the pattern we get about 245 gold pips. Adding this to the top of the pattern and we get a profit target just above $1600/oz. Remember to place no more than 2% of your account at risk on any one trade as pattern failure and whipsaws are possible that could trigger stops. The double bottom pattern can be a ‘golden’ ticket for traders because its ease of use.[/justify]

[http://www.dailyfx.com/forex/educati...m_on_Gold.html[/justify]

]nice information[
  • #31,388
  • Jan 8, 2014 10:50pm Jan 8, 2014 10:50pm

  1. View-2: Sideways - Range-Bound
  2. Logic: Psychology, inputs/signals from senior members & Price Action analysis.


I have a reason to believe that this will remain range-bound for sometime & then fall freely. If you've noticed, I shared my short view earlier & recent PA goes hand in hand with that. If I believe that it has peaked out & if that is true, it wouldn't just fall freely. There has to be some sideways PA. Secondly, I would like to follow the current short trend.

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  • #31,389
  • Jan 9, 2014 12:41am Jan 9, 2014 12:41am
I expect gold to go short today.
You win, you lose. All else is history. The future does not exist.
  • #31,390
  • Jan 9, 2014 12:57am Jan 9, 2014 12:57am
Quoting The Rhodie
I expect gold to go short today.

Any idea how far you think she'll fall? My sentiment is "short", but I'm holding a couple of longs from 1222.
  • #31,391
  • Jan 9, 2014 1:13am Jan 9, 2014 1:13am
Quoting goldJunkie
View-2: Sideways - Range-Bound Logic: Psychology, inputs/signals from senior members & Price Action analysis. I have a reason to believe that this will remain range-bound for sometime & then fall freely. If you've noticed, I shared my short view earlier & recent PA goes hand in hand with that. If I believe that it has peaked out & if that is true, it wouldn't just fall freely. There has to be some sideways PA. Secondly, I would like to follow the current short trend. {image}

view 2 - - just not the part of falling "freely" this will not happen.

supports have been put forth many a time and sub 1000 USD gold right now would be a DISASTER not just for
traders, but "Good old boy bankers" as well and China. It will not stay if it even happens.

Was going to rest but will post a quick chart - keep in mind THIS IS A COMMODITY not an FX pair...

This is just a quick chart with a hand drawn fan on it. The Lowest the bear move could achieve is 1050 - only sub on dip. that would put
silver at about 10/13 USD per t oz. and I would be buying PHYSICAL OnlY HAND OVER FIST!!!! So let's get it done or move up.
my sentiments.

Night.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,392
  • Jan 9, 2014 1:18am Jan 9, 2014 1:18am
I have had a number of people ask what I "see". The key thing is that I wait for specific set ups in the market. Unfortunately I cannot describe them all here as they occur, so I shall be setting up a twitter feed soon. If the market is going short for the day there is historical information that tells me how likely that is. We are due a drop to somwhere around 1219. I cannot predict the future. Nobody knows what is going to happen. All I do is wait for these setups: a test of the high before going short, volume to massively increase and a marker in my system that says to short the mother out of the market at a particular instant at tick level. Usually I get it bang on nearly every time.

I don't use a TP so that I can scrape out the most from my trades as possible while at the same time being dynamically open to change in sentiment to trade in the opposite direction. Remember that the market moves in 2 directions simultaneously: forward and up or forward and down. The overall position for the next couple days looks to be the long side, but today should see a good short come in.
You win, you lose. All else is history. The future does not exist.
  • #31,393
  • Jan 9, 2014 1:18am Jan 9, 2014 1:18am
Quoting XTrade
{quote} view 2

  • #31,394
  • Jan 9, 2014 1:21am Jan 9, 2014 1:21am
Quoting Uglybug
{quote} Any idea how far you think she'll fall? My sentiment is "short", but I'm holding a couple of longs from 1222.

In your case I would put my SL up to 1223 on the longs so that you don't make a loss at all and remove the TP from the longs so you manually control when the profit is cleared. That way you are protected from flash crashes and still safe to make profit.
You win, you lose. All else is history. The future does not exist.
  • #31,395
  • Jan 9, 2014 1:24am Jan 9, 2014 1:24am
Weekly SILVER SPOT and MONTHLY GOLD now attached. ONE BAR IS A MONTH avg 30 DAYS. so please don't make any irrational remarks like

"we may see sudden drops to 650 / 700" Only fools say such things...

Not saying gold doesn't have "falling potential" - Because I will not be convinced we are out of RANGE which we ARE IN NOW,
until it is above 1450 at least. 1350 would be nice.

Silver showing signs of bottoming.

Platinum and Palladium on a 30 day chart are kicking AG AND AU's asses....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,396
  • Jan 9, 2014 1:29am Jan 9, 2014 1:29am
Major DTLs are all broken now, there is no way to logically redraw them to suit anyone's needs.

Both metals are in range.



Quoting vallauris
Looks like a big decision point coming up for Daily / Weekly gold. Daily seems to be supporting the weekly divergence (earlier post ) but... “Things always become obvious after the fact” ― Nassim Nicholas Taleb {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,397
  • Jan 9, 2014 1:32am Jan 9, 2014 1:32am
I'll gladly add them to my charts to show anyone interested tomoro.

Yet, I still maintain we are range bound until a decisive break occurs.

The DTLs have been gone for some time. People just like to redraw them every time there is a low. even though support /major/ are not broken.

Damn, go down more. I really don't care.

Just ANOTHER OPPORTUNITY TO BUY PHYSICAL at a discount and HEDGE USING FX or FUTURES if NEED BE.

RANGE.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,398
  • Jan 9, 2014 1:34am Jan 9, 2014 1:34am
back into congestion area with EU open and London OTW.

Night.

CYA at NY.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,399
  • Jan 9, 2014 1:48am Jan 9, 2014 1:48am
LAST and CLOSING thought...

IF the GBP was anywhere CLOSE to the weight of the EUR (EUR over 50%) to the USD in the USDX -
Said USDX would be in deeeeeeep sh!t right now. Outdated and antiquated. At least FXCM made the USDOLLAR trade.........

Look at it.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,400
  • Jan 9, 2014 1:56am Jan 9, 2014 1:56am
Quoting The Rhodie
{quote} In your case I would put my SL up to 1223 on the longs so that you don't make a loss at all and remove the TP from the longs so you manually control when the profit is cleared. That way you are protected from flash crashes and still safe to make profit.

Cheers
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