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

  • #31,601
  • Jan 13, 2014 5:30pm Jan 13, 2014 5:30pm
Looks like it could go to aroud 1300 and then fall down.
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Money never sleeps I can hear the dollar calling me
  • #31,602
  • Jan 13, 2014 5:40pm Jan 13, 2014 5:40pm
Quoting Ulterior
{quote} tomorrow a big day for silver its make or break day, lets see what it holds for us. I will probably add to my gold position if it breaks up

Why do you think tomorrow is so big - just outta curiosity?

All we have is the dual "retail sales" m/m for big USD news. Which I would venture to gain after the holiday season would be near + or - forecast.

This is not a release that will really be "big" for AG.

You guys should start following Platinum and Palladium as well. The PGMgroup has a lot of insight at times, yet will also teach people about how support and resistance works as well as the added bonus of the varied FUNDAMENTAL differences, between AG - AU and PT/PD.....

Just a thought.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,603
  • Jan 13, 2014 6:01pm Jan 13, 2014 6:01pm
Quoting XTrade
{quote} Why do you think tomorrow is so big - just outta curiosity? All we have is the dual "retail sales" m/m for big USD news. Which I would venture to gain after the holiday season would be near + or - forecast. This is not a release that will really be "big" for AG. You guys should start following Platinum and Palladium as well. The PGMgroup has a lot of insight at times, yet will also teach people about how support and resistance works as well as the added bonus of the varied FUNDAMENTAL differences, between AG - AU and PT/PD..... Just a thought....

where about?
Gold is my pleasure.
  • #31,604
  • Jan 13, 2014 6:40pm Jan 13, 2014 6:40pm
image below

looks quite bearish - hidden divergence preceeded by previous two divergent tops. trend changing? time will tell. meanwhile, conditions met for a short @1253 sl 1255.50. i think if it breaks 1256, will reconfirm up trend continuation and may hitch a ride to the up side on small retracement then. for now am short. tread carefully though, may be a trap!

...no tp. will close when stochs reverse at any level turning north...
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  • #31,605
  • Jan 13, 2014 6:42pm Jan 13, 2014 6:42pm
Quoting vaidas7777
Timing is good for gold only for this week historicaly. But for silver timing is good til february
Gold maybe, because perhaps the Chinese are busy buying physical Gold traditionally for the Chinese New Year, which is around the corner. But just curious why Silver is good till Feb?
The true fact is market doesn't care, risk mgt is important.
  • #31,606
  • Jan 13, 2014 6:51pm Jan 13, 2014 6:51pm
Quoting XTrade
{quote} Why do you think tomorrow is so big - just outta curiosity? All we have is the dual "retail sales" m/m for big USD news. Which I would venture to gain after the holiday season would be near + or - forecast. This is not a release that will really be "big" for AG. You guys should start following Platinum and Palladium as well. The PGMgroup has a lot of insight at times, yet will also teach people about how support and resistance works as well as the added bonus of the varied FUNDAMENTAL differences, between AG - AU and PT/PD..... Just a thought....
I am only technical chart trader, I dont read any news. Tomorrow will be either a break of long term trendline or not. Cheers
  • #31,607
  • Jan 13, 2014 8:03pm Jan 13, 2014 8:03pm
Quoting Ulterior
{quote} I am only technical chart trader, I dont read any news. Tomorrow will be either a break of long term trendline or not. Cheers
One major DTL for silver is already and has been broken for quite some time, while in weekly charting and daily for that matter, although sloping down, the price has remained above the break with the same double bottom if not better than Gold potentially.

Technically speaking.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,608
  • Jan 13, 2014 8:46pm Jan 13, 2014 8:46pm
Quoting XTrade
{quote} Why do you think tomorrow is so big - just outta curiosity? All we have is the dual "retail sales" m/m for big USD news. Which I would venture to gain after the holiday season would be near + or - forecast. This is not a release that will really be "big" for AG. You guys should start following Platinum and Palladium as well. The PGMgroup has a lot of insight at times, yet will also teach people about how support and resistance works as well as the added bonus of the varied FUNDAMENTAL differences, between AG - AU and PT/PD..... Just a thought....
Hi XT,

Which websites will you recommend for reading news for fundamentals??

Thanks!

-dric

EDIT: Fundamentals for Metals. I've been reading Kitco, CNBC(sometimes), Bloomberg (sometimes), dailyfx. I still feel like I'm missing something.. :-s
  • #31,609
  • Jan 13, 2014 9:21pm Jan 13, 2014 9:21pm
Quoting XTrade
{quote} One major DTL for silver is already and has been broken for quite some time, while in weekly charting and daily for that matter, although sloping down, the price has remained above the break with the same double bottom if not better than Gold potentially. Technically speaking.
Can you show the broken dtl?
  • #31,610
  • Jan 13, 2014 9:31pm Jan 13, 2014 9:31pm
Quoting The Rhodie
{quote} That may even be a bit ambitious. Tomorrow we shall see.
Just entered 2 SHORTS (on the basis of a signal), SL @ 1280. According to my PA, the next couple of bars on Daily Chart should begin to show bearish signs. If a reversal is indeed taking place after a rally of past 2 weeks, some volatility must take place that would be reason I have placed SL fairly away.
  • #31,611
  • Jan 13, 2014 9:37pm Jan 13, 2014 9:37pm
Quoting dric
{quote} Hi XT, Which websites will you recommend for reading news for fundamentals?? Thanks! -dric EDIT: Fundamentals for Metals. I've been reading Kitco, CNBC(sometimes), Bloomberg (sometimes), dailyfx. I still feel like I'm missing something.. :-s
www.kitco.com
www.reuters.com
www.marketwatch.com
www.oilngold.com

Bloomberg is good too.


BBC world news is great as well - for web or TV.

Sydney Morning Herald if you trade Aussie.


AND FOREX FACTORY CALENDER
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,612
  • Jan 13, 2014 9:38pm Jan 13, 2014 9:38pm
Quoting trexy123
{quote} Can you show the broken dtl?
Sure.

Give me a few.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,613
  • Jan 13, 2014 9:41pm Jan 13, 2014 9:41pm
Is this indeed a SIX minute chart? M6??? You cannot forecast mid or long term properly IMO- using/ on scalping charts if so. Divergence or any minor chart pattern setups will conclude likely within the next bars. I suppose you are scalping? Otherwise IDK?!

Quoting msood
image below looks quite bearish - hidden divergence preceeded by previous two divergent tops. trend changing? time will tell. meanwhile, conditions met for a short @1253 sl 1255.50. i think if it breaks 1256, will reconfirm up trend continuation and may hitch a ride to the up side on small retracement then. for now am short. tread carefully though, may be a trap! ...no tp. will close when stochs reverse at any level turning north... {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,614
  • Jan 13, 2014 9:56pm Jan 13, 2014 9:56pm
Quoting XTrade
Is this indeed a SIX minute chart? M6??? You cannot forecast mid or long term properly IMO- using/ on scalping charts if so. Divergence or any minor chart pattern setups will conclude likely within the next bars. I suppose you are scalping? Otherwise IDK?! {quote}
hi xt - no this is an offline chart (named m6 because its a non std interval on mt4) - the candle unit is price not time. its a 3$ range bar. my previous shorts were indeed scalps. this one i might hold on to longer or close early depending on the pa. i do not trade based on multiple time periods - only what i see on my chart - which currently is a up trend, showing signs of weakness...
  • #31,615
  • Jan 13, 2014 9:57pm Jan 13, 2014 9:57pm
Quoting goldJunkie
{quote} Just entered 2 SHORTS (on the basis of a signal), SL @ 1280. According to my PA, the next couple of bars on Daily Chart should begin to show bearish signs. If a reversal is indeed taking place after a rally of past 2 weeks, some volatility must take place that would be reason I have placed SL fairly away.
Forgot to mention the selling price 1251
  • #31,616
  • Jan 13, 2014 10:15pm Jan 13, 2014 10:15pm
Quoting trexy123
{quote} Can you show the broken dtl?
SPOT SILVER WEEKLY.

Here you go, I even did two and then added current ranges - horizontal high low and pivot area.

In true technical analysis you cannot just "redraw lines as the price changes to suit your fancy"

Either the initial analysis WORKS or it doesn't. UNTIL it breaks, in a HUGE way.

Like I said Old DTL already broken twice any way you slice it - it is OLD AND OLD and OVER.

Now we are in range again, notice the double bottom and the chart time frame,
Weekly trumps daily, daily trumps H4, H4 trumps H1 so on and so forth.........
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,617
  • Jan 13, 2014 10:18pm Jan 13, 2014 10:18pm
Quoting XTrade
{quote} www.kitco.com www.reuters.com www.marketwatch.com www.oilngold.com Bloomberg is good too. BBC world news is great as well - for web or TV. Sydney Morning Herald if you trade Aussie. AND FOREX FACTORY CALENDER
Going to add this to my bookmark list now. Thanks heaps !

-dric
  • #31,618
  • Edited 10:49pm Jan 13, 2014 10:37pm | Edited 10:49pm
Quoting dric
{quote} Going to add this to my bookmark list now. Thanks heaps ! -dric
If you want to learn how to trade fundamentals FIRST start with getting yourself acquainted with the ECONOMIC CALENDER,

then start using the sites if you like.

YOUR OWN CHOICE AND OPINION ON HOW YoU RISK YOUR MONEY IS ALWAYS PARAMOUNT.

NO one, can and will do this better than you.

Does it take years, F- YEAH. Hard work and Losses - Yeah, but, in the end, to be able to use these markets to your benefit is worth it.

Get smart. I love techs, I love news and Fundamentals.

an old futures trader tried to tell me I had to choose - if I was going to use Techs or fundies, I said I DO BOTH.
He claimed it wouldn't work. LOL 4/5 years later I am still here.

YOU WANT AS MUCH EDGE AS POSSIBLE.

News moves the market,
Techs are there for the players to place orders and trade range when there is no news.
Fundamentals are for longer term, yet will always dominate the techs.

It's simple, why would someone just "take a trade based on nothing but levels"? IF THERE IS NO NEWS THEN YEAH! TRADE RANGE.

In FX and GOLD especially yøu cannot JUST pay attention to the techs, how do people think they get made?
No news today, 10 USD swing.

Hey to each is own, I know a slew of great tech traders - yet there is ALWAYS a HUMAN aspect to this game.
News and Fundies drive that. Black box or bot trading may be ok if you have a super start system..... Likely you are not goldman sachs.

So, say you entered a short before the last NFP just because whatever techs you had said
SHORT,
you would have been BLOWN UP QUICKLY on the NFP which you had no clue about. There is no half assing here in my Very honest opinion.

not trying to offend anyone - just open eyes. People can draw all the pretty pictures they want, but when an FOMC or NFP or UNEMPLOYMENT drops,
what does your complicated pretty picture do?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,619
  • Jan 14, 2014 1:49am Jan 14, 2014 1:49am
Extreme compression - bias to the upside - headfakes possible
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  • #31,620
  • Jan 14, 2014 1:58am Jan 14, 2014 1:58am
Quoting XTrade
{quote} If you want to learn how to trade fundamentals FIRST start with getting yourself acquainted with the ECONOMIC CALENDER, then start using the sites if you like. YOUR OWN CHOICE AND OPINION ON HOW YoU RISK YOUR MONEY IS ALWAYS PARAMOUNT. NO one, can and will do this better than you. Does it take years, F- YEAH. Hard work and Losses - Yeah, but, in the end, to be able to use these markets to your benefit is worth it. Get smart. I love techs, I love news and Fundamentals. an old futures trader tried to tell me I had to choose - if I was going...
Hi XT!

As always, thank you for your time and effort to teach newbies like me. Much appreciated!

I need to clarify, when you say News and Fundamentals, do you mean that News to be Breaking News? While Fundies mean something like Overall Supply and Demand which relates to Mining Companies and Market Sentiment in Physical gold???

I always thought that News == Fundamentals.. :/

Thank you !

-dric
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