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

Gold Prices coming down towards important support near $1318, encompassing horizontal line and 20-EMA, breaking which $1315 can become intermediate support before the yellow metal declines to 1309 and 1306 levels. Should it extend its down trend below 1306, it is vulnerable to test $1300 on an immediate basis. On the upside, $1326 and $1331 becomes immediate resistances.

As said, Gold prices broke below the horizontal support line near $1318 and also tested $1309 level. From the current level, the EMAs (20 and 40) zone, near $1316, is likely to become strong resistance should the 20-EMA (Orange) successfully trades below 40-EMA (Orange Red). On the downside, a sustained trading below $1306 can make the yellow metal vulnerable to test $1300 on an immediate basis, breaking which $1290 can become important support for the gold prices to test.

As the yellow metal broke below $1309, the prices are trading near important support level of $1306, breaking which it can extend its downwards towards $1300, $1290 and $1285 levels. On the upside, support turned resistance near $1309 and $1312 becomes immediate resistances for the yellow metal, breaking which $1315 and $1318 can become next levels. Sustained trading above $1318 can become a signal to test $1325.

this is much more interesting than watch the Gold movements these days...

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abt time 4 u 2 C a therapist MF

TF 1HR

nice abcd bullish pattern

BUY LIMIT @ 20.75
SL @ 20,6

venceremos

"Shooting Star" on H4 signals the nullification of $1325 breakout. The yellow metal can once again decline to $1322 and $1317. On the upside, $1341 can bcome strong resistance level.

Agreed.

But the day bar closing was strong enough: above previous highs & higher than 1325.
I think that the top is to form for a couple of days.

Yes, i do agree with you. 23.6% Fibo can become a strong resistance near $1342-43 region, breaking which the descending trend line near 1370 can become important resistance level for the yellow meal. Moreover, the crossover of 50-day EMA to the 100-day EMA is closely taking place, which in turn can become additional support for the up-move of Gold prices.

target 1332 done start down trend

It seems a bullish break-out, suggesting continuation of the recent appreciating trend.
Would continue to remain buyer on every dip for initial up-move till 1350 and then 1370.

Would be cautious only if it breaks below 1310

10 minutes for the candle to close intraday we might be looking for an opotunity to buy in the next hour on xag

That said, however, we know that the bottom of the market is 0. All we can do is guess where we imagine it may possibly tend towards for a period of time at specific times. That is a summation of 5 individual possibilities that makes the guess 1 in 125 chance of being correct. Consider that a correct guess becomes less likely over the number of times it si to be guessed and the answer then doubles to less likelihood of 1 in 540 chance that's about 4 times more likely a guess than the lottery of 49 numbers with a single guess.

Effectively you would have to bet $540 to expect a return of $1 as a median average return using trends. Bear in mind that trends are not a reliable marker unless you accept that the average is the start of your investment phase and the end you continue investing at the same vector eventually wiping your profit back to the starting value fairly rapidly...

So what is best? Use your head to calculate what you are prepared to lose in order to gain a modest 10% increase as a minimum over 1 year on your original capital. That is better than most bank rates, so worth the effort (minimal) for reasonable returns.

When the market has begun rising for the current frame of timeand you have not bid on it within 7 pips of that rise, you have missed the bus. Wait for next chance. Simple but safely effective rule to minimise losses and protect your capital.

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To: The Rhodie | From: xxxxx | Sent: Mar 5, 2014 3:06
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Hi,
The reason is we dont know where is the bottom of the market. We only base on the past data and reaction to predict the future destination.

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To: xxxxx | From: The Rhodie | Sent: Feb 27, 2014 10:34pm
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If the market is rising why would you want to buy at the top or middle? surely it's better to buy at the bottom end where it is now if you think the market is rising?

Although I don't have time to trade like I used to, I will keep an eye on the market. I see that in the months since my last post, nothing substantial has changed and market remains rangebound since April 2014, more or less. Consider what has to change in order for the market to rise or fall substantially beyond the $1250-1400 range... and then wait for those circumstances to appear and then you can reasonably expect to get the direction right for a change.

Go figure...

Gold false break down yet again or what? Had nice 50++pips profit one second and then the next minute price went up to hit my break-even... My TP was couples of pips away, think I was a little greedy as usual.

Have a question for the day traders, what is your usual daily TP target in pips? Mine is 60 pips but I often my trades getting really close to my TP befor price bounce back... Am I aiming for too much?

https://charts.mql5.com/5/117/xauusd...al-markets.png

Hi, maybe you can help me please. I´m looking for some indicator of perform (which commodity will perform better). I hope that you understand me :-). Many thanks for your help.

Gold prices likely to re-test $1310 should the current H1 candle closes below $1321.

15-min chart, anticipating Gold to break below the trend-line support and drift lower to re-test 1312-13 level.