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

  • #33,201
  • Mar 28, 2014 6:50am Mar 28, 2014 6:50am
very uncertain about the next move so am tightening my trailing stop on my short
  • #33,202
  • Mar 28, 2014 6:54am Mar 28, 2014 6:54am
It seems that the things getting clear...

ADX and Stock agree for shorting... Renko seems to create a red candle... MA20 seems it is broken that hour

short in track....

the only thing that concerns me is that we are changing session...

If Renko candle turns red during NY session i will definetely short it...
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The good thing with the future is that it is progressively approaching...
  • #33,203
  • Mar 28, 2014 7:23am Mar 28, 2014 7:23am
Rule No1 .... never ever be greedy

hit and run
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The good thing with the future is that it is progressively approaching...
  • #33,204
  • Mar 28, 2014 7:25am Mar 28, 2014 7:25am
Quoting tlpfx14
{quote} spino: do you see mb + ib + ib ? imho - the price will break out soon {quote} mate: u r good with various trading tools as i noticed. i wish i knew how to read renko
Thanx Tlpx...i am not good...just follow my rules/charts

i am not sure what those abbreviations mean? could you tell me?
The good thing with the future is that it is progressively approaching...
  • #33,205
  • Mar 28, 2014 7:27am Mar 28, 2014 7:27am
Awesome short volume for beginning of NY sesh with no major news driving sell off. Asian session gains smashed away within an hour of trading, looking at possible 1250 by end of NY session, though I'll either scale out as partial close or TP altogether at sign of stalling prior to close. Best wishes to all.
  • #33,206
  • Mar 28, 2014 7:31am Mar 28, 2014 7:31am
Quoting chaosclio
Awesome short volume for beginning of NY sesh with no major news driving sell off. Asian session gains smashed away within an hour of trading, looking at possible 1250 by end of NY session, though I'll either scale out as partial close or TP altogether at sign of stalling prior to close. Best wishes to all.
us personal spending is in 1 minute
  • #33,207
  • Mar 28, 2014 7:47am Mar 28, 2014 7:47am
ok...128x is confirmed...

so whats next?

Well as i said in my previous post... there is no 50% in fibo numbers... i dont know how but in any case it is using widely on trading...and in some cases there is selph-fullfilment prophesy on this number

But for me the real retracement is from 61,8%....

Would it go to 1260 (61,8%) ???

At the end of the day we might have some signs...lets see
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The good thing with the future is that it is progressively approaching...
  • #33,208
  • Mar 28, 2014 7:47am Mar 28, 2014 7:47am
Quoting MrBurns
{quote} us personal spending is in 1 minute
Not a market mover apparently... currently bouncing off 50% Fibo from 26 Dec low to 17 Mar high. I feel this resistance level will fail soon and continue its merry way South but watchful waiting is the key. Lucky I got some great tunes going haha. This is Daily chart sorry to cutout TF. And I'm lazy haven't removed a trendline or two that has been broken don't judge me lol.

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  • #33,209
  • Mar 28, 2014 7:58am Mar 28, 2014 7:58am
Quoting chaosclio
{quote} Not a market mover apparently... currently bouncing off 50% Fibo from 26 Dec low to 17 Mar high. I feel this resistance level will fail soon and continue its merry way South but watchful waiting is the key. Lucky I got some great tunes going haha. This is Daily chart sorry to cutout TF. And I'm lazy haven't removed a trendline or two that has been broken don't judge me lol. {image}
how do you find using tht choice of price candle? could never make heads or tails of them. From your chart, i can see a bounce but supply is at the 61.8 from what your chart is telling me. Previous R/S
  • #33,210
  • Mar 28, 2014 8:00am Mar 28, 2014 8:00am
Silver/Pound Moving ....

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  • #33,211
  • Mar 28, 2014 8:10am Mar 28, 2014 8:10am
Quoting MrBurns
{quote} how do you find using tht choice of price candle? could never make heads or tails of them. From your chart, i can see a bounce but supply is at the 61.8 from what your chart is telling me. Previous R/S
Yep indicates to me current buyer interest at 1290, and potentially at around 1262. I had to zoom out to Daily so you could see the Fib I was talking of. Do you mean the black bars instead of red/green candles? Helps me focus on trend when there is no colour, just found it works for me. I do watch lower TFs intraday hourly/4 hrly and compress the bar spacing.
  • #33,212
  • Mar 28, 2014 8:10am Mar 28, 2014 8:10am
...it is incredible how the price fit on this methodology....1282 seems to be the under limit at the momment, according to Envelop... future will tell
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  • #33,213
  • Mar 28, 2014 8:15am Mar 28, 2014 8:15am
Quoting chaosclio
{quote} Yep indicates to me current buyer interest at 1290, and potentially at around 1262. I had to zoom out to Daily so you could see the Fib I was talking of. Do you mean the black bars instead of red/green candles? Helps me focus on trend when there is no colour, just found it works for me. I do watch lower TFs intraday hourly/4 hrly and compress the bar spacing.
ok thats fair, horse for course i suppose and whatever works for one person may not work for the next. With Candle Sticks i find there is more of a signal when you have S/R but with good patterns such as pin bars, engulfing candles etc. Maybe I have not taken enough notice of the ones you use to see the patterns myself
  • #33,214
  • Mar 28, 2014 8:29am Mar 28, 2014 8:29am
Quoting MrBurns
{quote} ok thats fair, horse for course i suppose and whatever works for one person may not work for the next. With Candle Sticks i find there is more of a signal when you have S/R but with good patterns such as pin bars, engulfing candles etc. Maybe I have not taken enough notice of the ones you use to see the patterns myself
I still see the bullish/bearish engulfing bars, inside bars, high/low test bars and reversals etc, to me candles are complicating charts too much haha. Enough complication with BB, S/R levels, moving averages and trendlines. I use volumes for entry, MACD convergence/divergence for possible exit and sometimes RSI if I'm holding longer term but I try not to make it a headf*%k to open a chart. I do have charting software with more indicators but currently I'm testing myself by only using the MT4 platform for analysis.
  • #33,215
  • Edited 9:10am Mar 28, 2014 8:47am | Edited 9:10am
Early indication, but IMO PA WILL break the 50% fibo at 1288. Good volume pushing shorts for it to be able to hold at this level for long, maybe in for some sideways action for some time. (5 min chart shown). (Edited I could beproven very wrong though with a lot of buyer interest from here!!)

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  • #33,216
  • Mar 28, 2014 9:11am Mar 28, 2014 9:11am
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  • #33,217
  • Mar 28, 2014 9:23am Mar 28, 2014 9:23am
Quoting spinozagr
{quote} Thanx Tlpx...i am not good...just follow my rules/charts i am not sure what those abbreviations mean? could you tell me?
mb=maser bar
ib=inside bar

just notice pin bar on h4 on both gold and silver

i am all out

cheers
  • #33,218
  • Mar 28, 2014 9:30am Mar 28, 2014 9:30am
Next areas to look for ... if you trade this that is. Gold is to harsh for me.
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  • #33,219
  • Mar 28, 2014 9:53am Mar 28, 2014 9:53am
hi
buy in 1292 sl 1284 target 1307 &1313
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  • #33,220
  • Mar 28, 2014 10:07am Mar 28, 2014 10:07am
Quoting spinozagr
Good sign for bulls: this inside (almost) straigh Line inside the box USALLY means the near end of the trend and the beggining of a reverse prosess... {image}
is getting bigger... good sign for long in the upcoming days... especially if the prices crosses the MA(50) @1298...
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The good thing with the future is that it is progressively approaching...
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