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

if you use gmma i think you will not confused about the market, mate.
http://charts.mql5.com/3/881/goldmic...g-point-of.png

Silver & Gold to go down from here.

Gold will go down to 1270.
Silver will go down to atleast 19.90

up up welcome 1300

Sorry for the sellers! lovey day to go long from 20,100... We will break 20,500 soon
Gold will touch the downline ....

And pigs might fly in the middle of July.

Is that your wish or command?

What charts do back up your sentiment with that we too might look at your thoughts and not think your idea is unfounded? Don't make the same wildaccusations about gold without backing up your dreams...

There are rules on the thread. May pay to read those old line at least once, friend.
+++
Summary of gold for the past week
+++

Nothing new to report. As if! The rally since 27th Decber 2013 continues unabated. THe driving forces behind the move seem to be a concoction of upbeat market sentiment against the reality of political spin being consistently proven wrong in Washington and the rest of the world. At the moment, the only state in the United States of America that is long on the economy is The United States of DC and the White House spin doctors. Government appears to have blown so much smoke up its own a$$ that it believes its own bull. Yellen throws out some continued threats about continued taper and Uncle Sam's jobs numbers are still shrinking. The poor are getting fired and the rich are getting stinking rich. Sooner or later the rich will have no employees and the poor will have no money and rebel. The smart investors, the middle class are putting their money to safety in precious metals and other hard commodities which is driving the gold market higher and the property bubble to bursting point.

Gold just proves that the global economy is slowing down to a standstill as China begins to falter on economic growth and expansion. Europe is discovering to its cost that the farming of jobs out to China is probably the worst idea that Maggie Thatcher ever came up with. Breaking the union grip on British industry sent their manufacturers to the wall because board members were more interested in fatter profits that the wellbeing of the nation that they lived in. The US economy is discovering that China is a huge risk to their survival and if China attacks Japan then there is a big chance that there will be a proxy war that is that cannot be won with aircraft carriers by any agressor or defender. The economics of war would determine that a market crash would vote the financial power out of the market into depression.

The only solution is for Japan to stop prinitng it's valueless currency and start manufacturing jobs figures like the US already is. The fact that a little election in Japan can put that much faith in the Yen means the battle is far from over. As all but one American state is bearish on growth means that Obama is now in his last term and with poll figures at the lowest since ever before... well, Mugabe would be proud. A dictatorship without bloodshed so far. What's next? A famine or dustbowl like the Great Depression? I think the midwest better be prepared for a long hot summer and little monetary rain. Gold is long and $60 away from being properly bear.

If gold cannot rally to 1360, and falls over here, it will begin a long climb much higher into 1400 as a most likely outcome. However, if it climbs to 1360 and falls over, then we can expect a fall down for a while then see it rise towards 1500's or more. Physical demand in gold is down and the South African mines are about to close agains t the wishes of the workers. Knowing that the Mine bosses are slave drivers, there will be increased pressure from their government o keep the mines open, ALA Mugabe Regime tactics of guns and wages. Gold must therefore rise in price or suffer scarcity and rise in price. A slowdown in demand for gold globally has begun to change as reality kicks in for realist traders. 1181 was as close to cost price gold as we were likely to get. Maybe the next down leg will show a new cosr of gold support....

No sign of any divergences yet on 4H & Daily. Possible targets are 1313 (red); 1326(Right shoulder's target profit) & 1352. At any of those targets a pullback to 1285 is possible. Must watch the indicatores then for possible reversal signs.

A fantastic summary + post

I'm wondering if you still think the bears are in control. Your analysis seemed reasonable, however 7 days later your say this....."If gold cannot rally to 1360, and falls over here, it will begin a long climb much higher into 1400 as a most likely outcome. However, if it climbs to 1360 and falls over, then we can expect a fall down for a while then see it rise towards 1500's or more." I'm confused.

Took 1/3rd off my longs at 1312.5. Still very bullish obviously. I wouldn't short this.

I can' post any chart because I am at work, so sorry for that but if you look at the daily chart or even better at the weekly, you will see that we have a descending triangle break-out, or a descending triangle failure which is extremely bullish. That probably tells us the overall up-trend is still intact, so still more to come.
---------
ok, here is the chart:

All gold bears of the last 24 hours, please explain your analysis: I'm extremely interested in your interpretation of bearishness.

They are probably too dumbfounded to explain now.

Heading towards first Target

IMO,it was obvious we'd all be abducted by aliens before any significant downward move but we can all learn from each other in myriad ways.

Why?

Don't you get it yet?

The TREND IS UP SHORT and LONG term - that means Mid term - ie:weeks are shit.

It doesn't matter.

Why do you need to Short Sell a commodity with a proven track record of SUCCESS!!!!!!!!!!!????

I am still long from 1190 and 1255. with MULTIPLE TPs Hit, being that I trade off multiple accounts.

I can't even remember when I opened up my position trading account last.... Likely two or 3 weeks ago.


How bout' this - WHY DO YOU CARE?
why do you want to know the answer?
what purpose will it serve?

I can give it to you - only after you answer my questions.

THX
XT-

Awesome chart observation. I had mentioned last week once 1280 goes, it's up and up with a speed bump at 1305, now we have easily surpassed that level.

Short term targets, meaning several day trades, ie: length of time in trade is at least 3 to 15+ days....

1415 + 1450 then 1495.

1400 if bullish momentum - as expected and forecasted here, would pick up on breach of 1280 and especially 1300 psychological level would accelerate easily,
further upwards movement.

1550 remains the Shortest LONG TERM GOAL.

Nice chart - but after using them all you really DO NOT need indicators.

Fundamentals and technically naked charts do just the same.

IMO. Trade as you will and good luck.

XT-

XT, why so nervous?
Anyone trades according to his/hers trading plan. It's their money, no need to prove anything.

For more than 1 year I was and I am still very bullish on gold and especially silver. Never believed in the deflation thing.
Regardless when you entered, the whole set-up looks good if you are bullish. I understand to be bearish at 17xx or even at 15xx, but now? And still, check, please, retail traders sentiment, it is amazing. Scalping mentality and gold is not for scalping. Or, how is the word, scalpable?!)

For the three day line chart lovers, look at how the first day paved the path, then support, and - now further "trending"

I expect a correction upon 1325 or 1350 but no less than 1300 as of now.

Take a peek.....

XT-
GL
BEST!

Open AT the CLOSE OF 24 HOURS then rising! can't get better than that.............