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

  • #31,801
  • Jan 19, 2014 3:05am Jan 19, 2014 3:05am
I think it will be the best position to buy gold and silver this year early the upcoming week. I will buy silver when the market has opened. It canīt go much more sideway. It will either go up or down. And I think it is great probability for the pair to get up. The greater probability the better upswing. Letīs see what happens. No expectations.
  • #31,802
  • Jan 19, 2014 3:35am Jan 19, 2014 3:35am
What do You think? It's good plan?

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  • #31,803
  • Edited 3:51am Jan 19, 2014 3:37am | Edited 3:51am
Quoting XTrade
I dont know the validity of your DTL as I cannot see where it stems from, The range created by the so far double bottom has broken many a daily DTL already. The chart is moving sideways at the moment with no clear direction besides range as of now which should suggest up or rejection at mid point which would be appx 1300. If we use 1200 and 1400 for the smallest range. The 50% fibo retrace of origin 1920 to low 1180 = 1550 so for longer term trading / position trading it remains a valid target. Interesting to see that with the USD rising Gold did...
I've re-worked the DTL and its definitely not valid... This is good!
  • #31,804
  • Edited 6:16am Jan 19, 2014 3:50am | Edited 6:16am
The re-look of the Daily (this time using a futures chart) is a bit more revealing for the next couple of weeks

The inverted head and shoulder appears valid and forms a part of a break-out of a falling wedge, this raises the greater probability of upside in the medium term.
The futures chart also has a number of windows or "gaps"which will serve as very good targets on the way up.

Wedge Target (Last turning point) - 1263/67 Gap Target 1305. I note the window created 20 June 13 was closed aggressively 19 Aug.

1375 is a wedge touch and the top of the wedge 1435 opens the DB target with a window close to 1500...

I'm looking for this as an active entry for next week.

I have short position JSE T40 and am expecting a correction (strikes in SA could cause bigger problems for the miners BUT the USDZAR has become very weak making the sale of Gold from mine side quite significantly more profitable)
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  • #31,805
  • Jan 19, 2014 5:22am Jan 19, 2014 5:22am
Expecting to see 1290 to 1300 before a resumption of the down trend........
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Money Makes Money
  • #31,806
  • Jan 19, 2014 7:23am Jan 19, 2014 7:23am
Quoting JimmyC
Howzit XAU/USD Sir XT, some technical thinking… my 2c I’m a Technical analyst so if I’m missing something on the Supply and Demand cycle, accept my apologies. Gold has begun to trend since an arguable double bottom 1180/79. The subsequent appearance of the hammer on 31 Dec 2013 shows the breakout of a falling wedge and initiates the uptrend. The falling wedge target has been reach where price finds itself at present and we’re at a long time resistance support 1254/55. This is all interesting as an inverse head and shoulders is evident with the neckline...
Thanks for your technical analysis Jimmy! I agree with that and already had limit order placed key level to short as a hedge to my large long positions.
Also the large font is great for reading.
  • #31,807
  • Jan 19, 2014 7:25am Jan 19, 2014 7:25am
Quoting XTrade
What is it? I read enough already.. ? At least provide the thread with a headline then a link - otherwise no one cares. Just MVHO XT- {quote}
haha perhaps he's worried that posting the headline will have NSA and FBI knocking at his door, they don't want this gold manipulation story to go out too widely.
  • #31,808
  • Jan 19, 2014 8:57am Jan 19, 2014 8:57am
Quoting Mrdj
What do You think? It's good plan? {image}
This is extractly what I see and expect in next two weeks. 1268 fits the down-trend resistance line and the topping of Dec 10th. 1268 is also the old strong support before December. I do not think this resistance will break in January. But no matter it breaks or not, low risk to trade this resistance and if it does break, go long!
  • #31,809
  • Jan 19, 2014 9:39am Jan 19, 2014 9:39am
I think bulls should be worried about the little w1 going into tl /pivot
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #31,810
  • Jan 19, 2014 11:14am Jan 19, 2014 11:14am
Quoting Bones
I think bulls should be worried about the little w1 going into tl /pivot {image}
4+ touches, I already posted it 3 weeks ago, we are putting longs and worry about it being broken to the upside
  • #31,811
  • Jan 19, 2014 3:39pm Jan 19, 2014 3:39pm
Quoting Bones
I think bulls should be worried about the little w1 going into tl /pivot {image}
either way even on a dip the line is too steep to maintain for Long term and Gold will end up ranging out of it one way or another.

Just wait.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,812
  • Jan 19, 2014 3:39pm Jan 19, 2014 3:39pm
Does no one see the massive and OLD support where the double bottom was made????
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,813
  • Jan 19, 2014 3:42pm Jan 19, 2014 3:42pm
Quoting XTrade
Does no one see the massive and OLD support where the double bottom was made????

I can see it. Itīs best time of the year to go long early coming week in my opinion.
Twitter: FutureRates
  • #31,814
  • Jan 19, 2014 4:24pm Jan 19, 2014 4:24pm
Quoting XTrade
Does no one see the massive and OLD support where the double bottom was made????
Sure Big double bottom so you Buy?
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  • #31,815
  • Jan 19, 2014 5:45pm Jan 19, 2014 5:45pm
US bank holiday is today, Monday, gold will climb up then.
Gold is my pleasure.
  • #31,816
  • Edited 6:28pm Jan 19, 2014 6:10pm | Edited 6:28pm
Quoting elruso
{quote} Sure Big double bottom so you Buy? {image}

Been trading range mostly but YEAH long since 1190 going into the third week!
1/2 profit taken already at first test of 1250

AND

OH -
1255 new minor support.

Nice crack of minor resistance here outta the Aussie gate tonight. Bulls are coming back!
all the while while the USDX is rising...........
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,817
  • Jan 19, 2014 6:29pm Jan 19, 2014 6:29pm
Quoting elruso
{quote} Sure Big double bottom so you Buy? {image}

BTW that's not even a considerable DTL yet, let it get three rejections then we'll see.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,818
  • Jan 19, 2014 6:33pm Jan 19, 2014 6:33pm
Quoting Bones
I think bulls should be worried about the little w1 going into tl /pivot {image}

Why is the line conveniently drawn AFTER the Range of 1550 to 1800 and excluding the HIGH of 1920 or even 1900?

I guess that's all just "water under the bridge right?"

Well. no worries here mate! Any one using TA on a weekly knows even with NO DIRECTION that DTL WILL NOT LAST it is too steep and at this point been INVALIDATED by 3 OTHER BROKEN = ranged out and Break out DTLS on the daily.

But - for some reason, bears cannot except the fact of switching sides or actually taking a "long"
Look at a 10 year - it might help.

G/L
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,819
  • Jan 19, 2014 6:38pm Jan 19, 2014 6:38pm
Always fun to watch gold rise with the USDX too...!!!

ALWAYS consider all angles - never simply use correlations. Friday's trend continues.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,820
  • Jan 20, 2014 1:42am Jan 20, 2014 1:42am
Quoting KiwiOz
Expecting to see 1290 to 1300 before a resumption of the down trend........
I tend to agree with your thinking but not the prices.
You win, you lose. All else is history. The future does not exist.
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