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

  • #33,421
  • Apr 8, 2014 4:48am Apr 8, 2014 4:48am
Quoting spinozagr
If it closes today above 1310.... we are getting to a new price range of 1310-1341... {image}
Where do you see another retracement level? I thought it would bounce off 1316-1317, but the NY session is not even here, don't know what the price might do at that time.
  • #33,422
  • Apr 8, 2014 5:50am Apr 8, 2014 5:50am
Quoting Monkeybuss
{quote} Where do you see another retracement level? I thought it would bounce off 1316-1317, but the NY session is not even here, don't know what the price might do at that time.
Really have know idea for short term... what i can tell you is what my long term sentiment says according to my charts...

First target 134x, next 137x and when we departure for south 126x

of course there will be retracements but cant predict them... for short term i just follow the 20MA which is very profitable for me (TF1hr)

Trade safely mate
The good thing with the future is that it is progressively approaching...
  • #33,423
  • Apr 8, 2014 6:11am Apr 8, 2014 6:11am
TF 1 HOUR

the behavour (power) of currencies
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The good thing with the future is that it is progressively approaching...
  • #33,424
  • Apr 8, 2014 6:25am Apr 8, 2014 6:25am
Quoting spinozagr
TF 1 HOUR the behavour (power) of currencies {image}
http://fxtrade.oanda.com/analysis/open-position-ratios

I usually use this site to look for open close positions.

Thank You for your long term view. I will wait and see what the next phase is.
  • #33,425
  • Apr 8, 2014 6:39am Apr 8, 2014 6:39am
Quoting spinozagr
{quote} Bat pattern in progress... Will it confirmed? {image}
mate:
for below you don't have to answer if you feel no need to ok
just curious ...
is this bat pattern really worked well?
i come across alot in ff.

cheers
  • #33,426
  • Apr 8, 2014 7:17am Apr 8, 2014 7:17am
Quoting tlpfx14
{quote} mate: for below you don't have to answer if you feel no need to ok just curious ... is this bat pattern really worked well? i come across alot in ff. cheers
for me works well, but to tell you the truth this formation at the moment is just a speculation...

Most people use it after reaching the D point and many others from C point... Very few people use the b point because it is just TOO RISKY...

As a method is quite relative to Gartley method... i will send you later a very good link with all these ab=cd, gartley etc etc patterns

Take care
and as we said
Believe in Go(l)d
The good thing with the future is that it is progressively approaching...
  • #33,427
  • Apr 8, 2014 6:56pm Apr 8, 2014 6:56pm
Quoting Mave
KiwiOz, 1 more chart please, if you have !
Hi Mave.....Too early to tell yet, but the retracement may be over.
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Money Makes Money
  • #33,428
  • Apr 8, 2014 10:28pm Apr 8, 2014 10:28pm
Quoting KiwiOz
{quote} Hi Mave.....Too early to tell yet, but the retracement may be over. {image} {image} {image}
Hi KiwiOz, love these charts. could you give out those two pdfs for this method!
this might retrace more, target unknown really. reason - didn't test the friday high of 1306.70.
A trade should be based on an assumption based on facts
  • #33,429
  • Apr 9, 2014 12:20am Apr 9, 2014 12:20am
Quoting KiwiOz
{quote} Hi Mave.....Too early to tell yet, but the retracement may be over. {image} {image} {image}
Hi KiwiOZ,

Can You please tell me the name of the charting method you are using(the lines coming from your supp/ress)? Seems pretty interesting and I would like to check it out.
I would appreciate it. Thanks
  • #33,430
  • Apr 9, 2014 12:31am Apr 9, 2014 12:31am
Quoting Mave
{quote} Hi KiwiOz, love these charts. could you give out those two pdfs for this method! this might retrace more, target unknown really. reason - didn't test the friday high of 1306.70.
Sure.. Download the files from "my profile" home page
Money Makes Money
  • #33,431
  • Apr 9, 2014 12:47am Apr 9, 2014 12:47am
Quoting KiwiOz
{quote} Sure.. Download the files from "my profile" home page
Hey Kiwioz,

i had read those pdf files..
but the way you draw this lines is differnt then the way written in that file.....


in that file it is wriiten that..."true points of support are only those which low has two candles to the left of it and two candles to the right of it which lows do noe exceed the low you are using"

but in some your trend lines you draw this cant be find......
i have atteched it..
i will be glad to have some explation of it plzzzzzzzzz
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  • #33,432
  • Apr 9, 2014 1:00am Apr 9, 2014 1:00am
Quoting devang
{quote} Hey Kiwioz, i had read those pdf files.. but the way you draw this lines is differnt then the way written in that file..... in that file it is wriiten that..."true points of support are only those which low has two candles to the left of it and two candles to the right of it which lows do noe exceed the low you are using" but in some your trend lines you draw this cant be find...... i have atteched it.. i will be glad to have some explation of it plzzzzzzzzz {image}
That is correct devang.....As I have stated before, I have taken DeMarks system to a new level. At the time he was on to a good thing but did not follow it through to it's full potential. The PDFs are just to give you an insight into the basics. Best to read the PDFs then practice what you see on my charts until they make sense to you...Takes a while to get the hang of it....I know I don't post very often, but that's because I hardly ever use charts under 1H ....Cheers.
Money Makes Money
  • #33,433
  • Apr 9, 2014 1:08am Apr 9, 2014 1:08am
thanks Kiwioz for reply....

As you said i agree with you..but as i am new to your system can you explain how i should start ?
the method of calculation of price target i got it...
but the main thing in this system is to draw correct trend line...if it gows wrong,we have to bear with huge losses..

i cant understand in uptrend which lows i should use to draw trend line, and in down trend which highs i should use to draw a true trend line???

The way you use can you explain me ??????
it will be helpful to me and others also.....
  • #33,434
  • Apr 9, 2014 2:05am Apr 9, 2014 2:05am
Quoting devang
thanks Kiwioz for reply.... As you said i agree with you..but as i am new to your system can you explain how i should start ? the method of calculation of price target i got it... but the main thing in this system is to draw correct trend line...if it gows wrong,we have to bear with huge losses.. i cant understand in uptrend which lows i should use to draw trend line, and in down trend which highs i should use to draw a true trend line??? The way you use can you explain me ?????? it will be helpful to me and others also.....
First, All targets are Possible, Never a certainty.
Lines drawn from the lowest point & to top of spikes are never as good as taking a more conservative approach. Best to miss out on a few pips when price charges through the target lines than to take the extreme targets only to find it not quite reached then reversed against you. whilst you sleep.
You will see a different way of drawing the lines for minor retracements as against trend targets.
My advise is to practice on a demo account running in conjunction with you live account, Post your charts & I will happy to correct them for you.
I have thought of starting a thread on this system but I'm not sure how much interest there is to warrant it. Running a threads take a lot of dedication & time.
Money Makes Money
  • #33,435
  • Apr 9, 2014 3:29am Apr 9, 2014 3:29am
Quoting KiwiOz
{quote} Sure.. Download the files from "my profile" home page
ty man
A trade should be based on an assumption based on facts
  • #33,436
  • Apr 9, 2014 3:29am Apr 9, 2014 3:29am
Quoting devang
{quote} Hey Kiwioz, i had read those pdf files.. but the way you draw this lines is differnt then the way written in that file..... in that file it is wriiten that..."true points of support are only those which low has two candles to the left of it and two candles to the right of it which lows do noe exceed the low you are using" but in some your trend lines you draw this cant be find...... i have atteched it.. i will be glad to have some explation of it plzzzzzzzzz {image}
Take the present trade for instance. On the 15min chart. Great for scalping only........2 reasons to be confident in the 1st target. 1. Heading back to the Daily pivot. Happens almost every day. 2. Double confirmation of the target with the Magnetic lines. That makes triple confirmation. I will be really Pissed off it it does not work out.
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Money Makes Money
  • #33,437
  • Apr 9, 2014 8:22am Apr 9, 2014 8:22am
OzOzOz .. 1295/87 ?
A trade should be based on an assumption based on facts
  • #33,438
  • Apr 9, 2014 3:14pm Apr 9, 2014 3:14pm
Howzit XT all!

Gold Spot 4H

Back to channel up 1306 now S/R FOMC put the dollar back down and equities rallying again.
next ladder entry 1315 position targeting 1430 area

Seems to be more of a fundamental trade these days but the usual S/R levels are working

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  • #33,439
  • Apr 9, 2014 3:40pm Apr 9, 2014 3:40pm
Quoting KiwiOz
{quote} First, All targets are Possible, Never a certainty. Lines drawn from the lowest point & to top of spikes are never as good as taking a more conservative approach. Best to miss out on a few pips when price charges through the target lines than to take the extreme targets only to find it not quite reached then reversed against you. whilst you sleep. You will see a different way of drawing the lines for minor retracements as against trend targets. My advise is to practice on a demo account running in conjunction with you live account, Post...
Hey Kiwi

Im kiwi lol... I too have been impressed with your method and a couple of months ago tried it out in demo, my results were ok, but I seem to draw lines in different places to you as I was following what the pdf said. I think a new thread for your system would be great and help us to learn and perfect your system!

cheers
rex
  • #33,440
  • Apr 9, 2014 4:07pm Apr 9, 2014 4:07pm
Quoting JimmyC
Howzit XT all! Gold Spot 4H Back to channel up 1306 now S/R FOMC put the dollar back down and equities rallying again. next ladder entry 1315 position targeting 1430 area Seems to be more of a fundamental trade these days but the usual S/R levels are working {image}
Hi, what time zone/broker do you use?
here's my h4 chart
Attached Image
A trade should be based on an assumption based on facts
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