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

Try this:

http://www.babypips.com/school

At the time It seems that it faces difficulties to go above 1260 (1hr)... and get in the long area (blue)... lets see what the future will reveal...

The roof was the High of Day at that time. Now gold has shot for the sky and failed to breah the previous highs. Second highest level this week, so what is holding it back? NFP?

Still locked in a range, been that way for like 3 weeks now...

Looking at H4 candle, again just like yesterday, look at the tail. Resistance and fail to rally to yesterday high.
Another bull trap?

it looks like... Forex for ever...

Gold current movement... my personal view.

Daily TF


H1 TF


So, I'm looking for short at retracement. Price may hit at least 261.8% fibo level. But usually, once there is pin bar reversal candle, you can expect the price to hit level 423.6% which is happen at the lowest zone of 2013. This should be a very good trade.

Another simple way to trade... clean chart!

Yes. Gold is looking rather bearish atm after earlier failed attempt to retest the high.

Lets see 1251 is being supported.

To be honest, I am rather confused by the price action this week. Therefore chosen to stay out.

5 attempts in the last 11 days to conquer the 1270-1280 area none of them have held & pulled back to the 1250-1255.

above 1280 explosive quick move to 1322-1333, However, time is running out for that....

Friday’s NFP report will be a decision time. Below 1255 plunge towards 1235 - 1230 or 1225-1220.

After a very positive week of trading for me, I am very pleased with the net results. Gold has moved predictably every day that I have actually traded it and very successfully at that.As we now enter the PM US session, I can see a general move towards lower price and I think we might even be greeting 1247 sometime soon. There is no special time frame on that, but certainly with the current market, it may well be today or tomorrow if not next week.

I do have concerns about the market that extend my bullish bias on gold for the shorter term but an overall bearish flavour is losing its savour as the market has now been ralying higher against the new that the world really IS facing a global crash. That news was released to the dismay of the FED and the American population in general. The Japs are very happy that their lot is improving because the noises China has been making are distracting the politicians long enough for the financial markets to be heard bleating loudly about the DOW Jones crashing in the near future. Mark down 27th March as a potential timing point.

This is a bear market on a bull run. You have been warned, so exercise caution.

I couldn't agree more with your analysis, I have 2 short positions at the moment, and am taking another one on the break of the H6 bearish engulfing bar, 1252.14.

As for targets, I will be taking profit at 1240, 1220 and then SL will be kept around 1240 for the 3rd position in case 1180 breaks.

Hi Mates! How's everyone doing in here! Been taking a little break from posting, but back now!
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Guys - You gotta be careful here. Technically and simply speaking we are really a bit stuck with a nice trading range.

For Shorts, I wouldn't be looking for anything more than negative 10 USD swings ATM so from spot now at 1261 TP 1 1255/50 really for 10 and then again the 1240 target with a possibility of a reaction low and reversal at 1238/5.

The longs while still not enough large cap specs to break 1300 are inching the price up whenever possible from the PIVOT area 1250 & 1255.

Price continually reverts back to this area, then makes a new weekly high in the 1270's and the APRIL GC Did hit 1280.10 as a recent high.

So that being said, we are @ 1260 - look at the congestion area below and the spike high to about 1275. Thus, entries if the pivot say 1252.5 (to split the diff between 1250 and 1255 are optimal for entries if it looks like the pivot will hold for northbound trains. This opens us up to various northbound targets. Again ,safely using 5s and tens. I would / AM looking for TPs around 1260 / 1270 and 75 then on breakout 1280 and breach to open up 1295 resistance and the big round number of 1300 psychological resistance and support.

Definitely exploit the range and use it to one's benefit, just don't get out of control with too many scattered positions and TPs that are too far out of the range.

Right now - bulls will and many are waiting for a close above 1280/1 to suggest higher prices ensured. Many people trading smart, would rather a worse entry however with the assurance that most likely the position will go in ones favor, as it picks up momentum.

Bears, want desperately to see gold drop off, the fundamentals are not supportive, and furthermore, it seems 1230 will not break or close below, really more so 1235.

Likewise, when the market settles and you see a nice low on a dip, more often than not on the past few weeks, the trade,
"long off a low" has been working and producing nice 20 to 30 USD swing trades depending on your patience level.

1220 is wishful thinking at the moment, 1240 - well she hasn't dipped below 1245 / 1250 appx this week.

Where are the entries? And what is the reasoning here?

Take a look at the ONE Month. Here are some simple charts.

Not so powerful yet, but in the charts below you can see broken DTLs and a Mini trend emerging. It has so far been reliable for the past 30 with nice peaks and valleys,
as well as Higher Highs and Higher Lows.

Still vulnerable to downside risk, yet, time is passing / still in current monthly channel and the low's aren't holding.

Trade what's on the chart.

For Longer term charts like H4 through to weekly I use SMAs on close usually.

For daytrade or shorter term like H1 and below I'll sometimes switch them up to Exponentials and Keep them on the close.

Any dips from here is a good buy. If we'll have Unemployment (6.5) and NFP positive today ill buy the dips of those... Long term Buy gold.

Another view of the same chart. 1280 immediate resistance to break northside. Downside, 1235/30 only after passing through 1250.

NFP tomorrow. Unemployment RATE tomorrow.

An elementary question: why are the previous results for the non-farm payrolls not tallying to the actual results when viewed? If one goes to the home page of FF we see tabulated:

Actual Forecast Previous
Jan 10 2014 74K 196K 241K

Dec 06 2013 203K 180K 200K

Why isn't the December "Actual" figure 241K?

Hi XTrade, thanks for the chart, very nice! Looks like a V-bottom, but it is nice to see the eve and adam double bottom.

The longs look like that didint eat their breakfast..