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

gold target up 132x

New Government of the BJP party seem to start their work on the bullion and jewellery industry of India. Import restriction were eased and now private companies are being allowed to import gold while they were restricted before. Due to this i believe that their will be more gold been imported and purchased by Indian which might help gold to cross the resistance level of 1308 and 1330s.

http://timesofindia.indiatimes.com/B...w/35445634.cms

Gold prices testing important resistance level. Chances are higher that it will come down. If not, it can witness $1321 level today itself

I'm told this is bullish

I think its undecided

worth a try @ 1.284 if it bounces there tomorrow, starting as a scap ending as who knows... imo

Silver is leading Gold.

Its stuck I tell you

DX is strengthening,

Gold
I think she's a bear, but just keeps tight... No longer tradable, till she breaks anyway

Daily chart

Above the 200 sma, in symmetrical triangle should be 60% probability of southerly break but, almost at pattern failure and... loss of volatility noted.
Asian demand is going to peak at the same time as the dollar strengthens, this isn't a recipe for bullishness

[quote=JimmyC;7489868]{quote} Its stuck I tell you DX is strengthening, Gold I think she's a bear, but just keeps tight...

She's setting up for the bear on the long term EW count, to complete the 1st wave (a 3 legged wave A) of a multi-year correction since the all time high of Sep 2011.
And silver in unison.

COPPER
Copper might not be relevant on this thread, but it is viewed as a reliable leading global indicator, with the ability to predict turning points in the global economy.
It came off a triangular pattern on the 2 Jan2014 and declined in a trending impulse wave. Now setting up for bears again.
Question is would other markets like metals, equity etc. follows ?

I think the global move will be opposite to the "triangle" breakout. So if it will be broken up or down, the soon reversal will proceed....I'd advice not to follow the breakout hoping to get big gain.

Sorry sir but that is an invalid head and shoulders pattern

The symmetrical triangle in H4 chart of Gold continue to signal $1287-$1301 range. Hope to see huge volatility after consolidation phase gets over. Wish to see the downside.

On the H4 chart, the price is moving down strongly along with a bearish trend and every time the price touches the upper line of the channel as a resistance hurdle, the supply pressure increases and a reversal is seen. On the other hand, below the bearish trend line the price is moving upward inside a secondary bullish channel. If the lower line of the channel around $1275 is broken below, we are expecting the slid to be continued. And of course on the other hand if the $1310 resistance level is broken up strongly, a price development is in place as an assumption

http://forex-fa14.blogspot.com/

GOLD H4

is it true?
reply please

yep

WTF

I had a long position in with a stop at 1290... the stop did not fill and the position remains open in profit. I wonder if the broker is going let my profits stand or try to say I should have been stopped out before the move up.


Update:
my broker is in Australia and I get the daily statement at 5 pm est, so far it is still showing I have two trades in profit from the up move last closing at 1311.27.

whether this will be the case when the market opens is another matter, if it does open below 1290 and my stops are not filled I will have to manually close them and have a hop think about the next attempt.

Update 2:
yeah that was brought back pretty quickly down to 1292... but at least they kept my trade open.