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

  • #31,441
  • Jan 9, 2014 3:10pm Jan 9, 2014 3:10pm
Quoting skassacomput
Bearish flag on H1? What do you think about? {image}
don't see it mate, any few candles look more like a bullish flag if anything at first glance/

Can you zoom into the area? or circle it?

mebbe I'm just not seeing what you are
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,442
  • Edited 3:40pm Jan 9, 2014 3:20pm | Edited 3:40pm
Here we are---
Bearish flag on H1

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If you do not know who you are, the Forex is the worst place to find you
  • #31,443
  • Jan 9, 2014 3:23pm Jan 9, 2014 3:23pm
Quoting adamjn
Here is this weird auto trading bot at its work again... {image}
I think it was pure market makers buying and selling with themselves
  • #31,444
  • Jan 9, 2014 5:12pm Jan 9, 2014 5:12pm
Quoting LarryLU
{quote} I think it was pure market makers buying and selling with themselves
Yeah - still waiting on a response for that one, even when the market is absolutely dead, the tick chart will always move - mainly from the actual
spread fluctuating in price not necessarily on actual price action or any sort of momentum. Actually growing curious as to what the bot does.
Personally I don't like bot-trading for Gold at all.

I do however have what I consider to be a pretty awesome idea for the ULTIMATE Gold (and PMs) as well as Oil/GOLD_Bot! But, for now I am keeping it to myself!

I mean that last dead area isn't even a 50 cent back and forth, it's all between 1228.13 and .18

you can catch the same kind of thing before certain news releases as well.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,445
  • Jan 9, 2014 6:15pm Jan 9, 2014 6:15pm
Quoting XTrade
{quote} don't get it? what is it doing besides looking at a tick chart in a slow day? I don't see a trade anywhere?

Idk what it is tbh, was just a guess.
insideBars==boss
  • #31,446
  • Jan 9, 2014 7:36pm Jan 9, 2014 7:36pm
Gold is going to break up above 1228 tonite, still holding my long from 1225 !
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  • #31,447
  • Jan 9, 2014 8:19pm Jan 9, 2014 8:19pm
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  • #31,448
  • Jan 9, 2014 8:23pm Jan 9, 2014 8:23pm
Nice looking triangle there. Although we are Technically sideways to bearish in mid term time spans - I have found these often break north more often than south,
especially on the daily. Long term it is still bullish, just in corrective phase, now finally seems to be correcting north from the correction south after the all time high in the 1900s. if that makes sense! Short term we have been bullish regardless of the USDX - "Dixy" really ain't doing much anyway!

Look at all the spikes down! Seems the result has been people/traders/funds/gvmnts swooping in and grabbing any discount still available so far in 2014.

Just even EYING IT at 1217/1220 area you can clearly see a nice looking horizontal interim support formed thus far.

Look at all that congestion on the 3 day below! Should she stay above the past days I am expecting another run on 1250 in upcoming sessions --->
B U T, --->
= As I had mentioned I usually notice a skew from the ADP number and the real NFP. ALSO another thing to keep in mind is that these are EARLY NEW YEAR
employment numbers / data, so there is always a bunch of help hired even FULL TIME for the holidays all to be out of work soon enough.
THUS, creating a faulty and even more skewed outlook of the REAL job market and creation.

February jobs data should be way more accurate then tomorrow when all these potentially lucky NEW employees get CANNED / AXED / FIRED / ADIOS AMIGOS! soon!

still holding half trade from sub 1200. TPd some @ 1245 area.

Oh and BTW nice- so far she is already above 1228!



Quoting okanemici
Gold is going to break up above 1228 tonite, still holding my long from 1225 ! {image}
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,449
  • Jan 9, 2014 8:36pm Jan 9, 2014 8:36pm
Quoting XTrade
Nice looking triangle there. Although we are Technically sideways to bearish in mid term time spans - I have found these often break north more often than south, especially on the daily. Long term it is still bullish, just in corrective phase, now finally seems to be correcting north from the correction south after the all time high in the 1900s. if that makes sense! Short term we have been bullish regardless of the USDX - "Dixy" really ain't doing much anyway! Look at all the spikes down! Seems the result has been people/traders/funds/gvmnts swooping...

Now it is printing 1232 , what I expect is attached.A move to 1245-1250, then a chop there, possibly a drop to 1230 then up or down depending on the market conditions and PA.
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  • #31,450
  • Jan 9, 2014 8:38pm Jan 9, 2014 8:38pm
it will return to 1227 just before big news, very low volume, just a sto phunting and expanding triangle play I posted before
  • #31,451
  • Jan 9, 2014 8:46pm Jan 9, 2014 8:46pm
Quoting XTrade
Nice looking triangle there. Although we are Technically sideways to bearish in mid term time spans - I have found these often break north more often than south, especially on the daily. Long term it is still bullish, just in corrective phase, now finally seems to be correcting north from the correction south after the all time high in the 1900s. if that makes sense! Short term we have been bullish regardless of the USDX - "Dixy" really ain't doing much anyway! Look at all the spikes down! Seems the result has been people/traders/funds/gvmnts swooping...

Now 1233.5, looks like in all this time I've done one notewothy call just on time
  • #31,452
  • Jan 9, 2014 8:47pm Jan 9, 2014 8:47pm
oooonly looong waiting today 1238 or more ))
  • #31,453
  • Jan 9, 2014 8:49pm Jan 9, 2014 8:49pm
take your long profits on the first signs of weakness, dont be fooled
  • #31,454
  • Jan 9, 2014 9:05pm Jan 9, 2014 9:05pm
last breath and fall from 1235,50...
  • #31,455
  • Jan 9, 2014 9:10pm Jan 9, 2014 9:10pm
hey gr8 - there is a gold traders hang out here - visiting ff after a long time, now trading goldusd only.

here's what i am doing atm:

3 shorts xauusd from 1235
another 3 pending 1238
first target 1228 (one-third, and set rest to BE)
second target 1220
third target 1217

sl all at 1240.50, close all in any case 30 mins before nfp
  • #31,456
  • Jan 9, 2014 9:13pm Jan 9, 2014 9:13pm
Caution is definitely advised in proceeding trades for gold and silver at this juncture indeed, BOTH ways not just long.

A. Tomorrow's news for short term.
B. Still sideways with overtones of bearish for mid term
C. Dips getting scooped up for mid term as well (for the shorts)
D. Unexplained legitimately spikes DOWN like earlier this week mid term (for longs)
E. Potential to correct further, However, potential to be bottoming mid to long term for BOTH sides.
F. Long term price is still trending up either way you slice it, take a ten year chart and draw some MAJOR TLs on it. Still up. bottom line.
G. Costs of living ever increase where there is LACK of job creation as well as an already high unemployment rate.
H. Geopolitical Financial distress, unemployment, massive national debt public and private, war, as well as a multitude of different and varying factors are still very real concerns regardless of what the Powers that be say or allow to be printed in the daily rags.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,457
  • Jan 9, 2014 9:17pm Jan 9, 2014 9:17pm
Quoting Ulterior
take your long profits on the first signs of weakness, dont be fooled
there is absolutely no reason and sign to fall below 1224 for now !!! Last pullback is made to daily 20 and now targeting daily 50 !!!
  • #31,458
  • Jan 9, 2014 9:18pm Jan 9, 2014 9:18pm
Welcome aboard!

Certainly all possible ahead of news and even just trading the range. Again why if not in a profitable position already, caution is advised.

Why don't you want to trade the NFP though? If the ADP number actually does match the NFP the shorts will certainly be in affect tomorrow.
It seems you are shooting for varied 10 USD movements which is totally logical for the current price action.
So I don't blame you for not trading NFP.


Either way the market will likely just bob up and down fizzling out either where it was before the release or at an appx 15 USD gain or loss depending,



then the week will be done and we can start it all over on Monday!


XT-


Quoting msood
hey gr8 - there is a gold traders hang out here - visiting ff after a long time, now trading goldusd only. here's what i am doing atm: 3 shorts xauusd from 1235 another 3 pending 1238 first target 1228 (one-third, and set rest to BE) second target 1220 third target 1217 sl all at 1240.50, close all in any case 30 mins before nfp
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,459
  • Jan 9, 2014 9:20pm Jan 9, 2014 9:20pm
Quoting okanemici
{quote} there is absolutely no reason and sign to fall below 1224 for now !!! Last pullback is made to daily 20 and now targeting daily 50 !!!
I am sorry, i dont use moving averages, I just see it will return to 1227 before news, thats it
  • #31,460
  • Jan 9, 2014 9:24pm Jan 9, 2014 9:24pm
okanemici does make a valid point however in mentioning the 1220 interim support.

Also she (gold) has decided to follow upside as short term price action has been. Nice break here and a plus 7 USD move for AusAsian session already.

If not already positioned I would likely be waiting until after the news tomorrow and then scaling into a position.

if 1240 goes with some steam - hello 1250 retest and likely no "fat finger funny business"
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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