XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1692 | Metals Mine

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

  • #33,821
  • Jul 7, 2014 5:49am Jul 7, 2014 5:49am
Overall uptrend signified by the ascending trend lines likely to remain present until the break of 20.880 and 20.810. Consequently, 20.50 and 20.20 and 19.80 become important supports to watch.
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  • #33,822
  • Jul 7, 2014 9:19am Jul 7, 2014 9:19am
After much meditation I'm beginning to wonder whether Forex is a viable way of making money. Four times I entered new trades and immediately the market moved against me each time. It was incredible to watch! I will not make the mistake of trading when there's low volatility as I did at the start of the Asian market today. It is almost as if the market movers can assess individual trades and move it in their favour. To compound issues, my broker's platform keeps on freezing. When this happens I cannot monitor in real time where the market is going. I've complained. They tell me they're working on it. Yet, I'm not getting compensated for missed trades or not being able to close a trade because of the faulty system.
  • #33,823
  • Jul 8, 2014 7:03am Jul 8, 2014 7:03am
Gold prices again signaling a test of 1329.50 on the break of 1323. Down side support of 1318 still remains strong.
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  • #33,824
  • Jul 8, 2014 7:57am Jul 8, 2014 7:57am
gold / silver ratio weekly chart...

a big sorry for those who didnīt bought (physical) silver in May
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just do it
  • #33,825
  • Jul 8, 2014 10:24am Jul 8, 2014 10:24am
Hello to all my friends
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  • #33,826
  • Jul 8, 2014 10:33am Jul 8, 2014 10:33am
Quoting thodie
gold / silver ratio weekly chart... a big sorry for those who didnīt bought (physical) silver in May {image}
No matter if this sorry is still valid there is one truth: This bussiness is really hard...
The good thing with the future is that it is progressively approaching...
  • #33,827
  • Jul 8, 2014 12:38pm Jul 8, 2014 12:38pm
Quoting thodie
gold / silver ratio weekly chart... a big sorry for those who didnīt bought (physical) silver in May {image}
Nice chart
A trade should be based on an assumption based on facts
  • #33,828
  • Jul 8, 2014 11:25pm Jul 8, 2014 11:25pm
Quoting spinozagr
{quote} No matter if this sorry is still valid there is one truth: This bussiness is really hard...
yup, iīll sell 20% Ag at a ratio of 50, 25% at 40, 30% at 30, below 35 start buying gold... and hopefully reverse it in a couple of years

Quoting Mave
{quote} Nice chart
thx
just do it
  • #33,829
  • Jul 9, 2014 7:10am Jul 9, 2014 7:10am
Silver Prices remains on the edge. However, a close above 21.20-30 region is a must before it tests $22 in near term.
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  • #33,830
  • Jul 10, 2014 1:28am Jul 10, 2014 1:28am
Gold prices re-testing $1329.50-1330 resistance zone. Should the yellow metal successfully breaches the resistance, it can rally towards $1335 and $1338 in no time. Downside support of $1323 becomes immediate for the bullion prices.
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  • #33,831
  • Jul 10, 2014 4:35am Jul 10, 2014 4:35am
Quoting Fx_Anil
Gold prices re-testing $1329.50-1330 resistance zone. Should the yellow metal successfully breaches the resistance, it can rally towards $1335 and $1338 in no time. Downside support of $1323 becomes immediate for the bullion prices. {image}
FX Anil, whats gonna happen now? What do you think?
  • #33,832
  • Jul 10, 2014 5:34am Jul 10, 2014 5:34am
Watching gold and silver closely for exhaustion on the upside. Hope these volumes kick in soon, markets have been dry as a bone of late...
  • #33,833
  • Jul 10, 2014 7:55am Jul 10, 2014 7:55am
Gold prices likely to re-test $1329 levels.
  • #33,834
  • Jul 11, 2014 5:29am Jul 11, 2014 5:29am
Declining MACD and continued observance of descending trend line on H1 chart pushed the yellow metal towards $1329. However, a break of 1339 can fuel the yellow metal towards $1350.
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  • #33,835
  • Jul 14, 2014 1:06am Jul 14, 2014 1:06am
Quoting Fx_Anil
Declining MACD and continued observance of descending trend line on H1 chart pushed the yellow metal towards $1329. However, a break of 1339 can fuel the yellow metal towards $1350. {image}
Being a bit late in achieving the 1329 target. However, the yellow metal is likely to continued ranging in $1306-23 zone for the upcoming week in absence of major factors that are specifically firing the precious metals.
  • #33,836
  • Jul 15, 2014 2:35am Jul 15, 2014 2:35am
Having tested the $1309 level (and even jumping below that till $1303) the gold prices are expected to reverse towards $1322 on the break of $1310. However, a sustained trading below $1302 can force the yellow metal to test $1290
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  • #33,837
  • Jul 15, 2014 6:33pm Jul 15, 2014 6:33pm
It's been a while since I've posted or done any co-moderating here. I hope discussions are going well and everyone is making money.

I've noticed all the professional pundits have turned instantly bearish on gold: Every move to them is a change of direction. I'd like to point out on the 4-hour chart (in hindsight an 8-hour chart might have been better) that gold has merely dropped to the bottom of it's current short-term bull channel and I'd expect a return to $1,326 before the next pullback.

Gold 4-hour chart
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You can always make money tomorrow provided you don't lose it today.
  • #33,838
  • Jul 15, 2014 6:48pm Jul 15, 2014 6:48pm
Quoting KADC
It's been a while since I've posted or done any co-moderating here. I hope discussions are going well and everyone is making money. I've noticed all the professional pundits have turned instantly bearish on gold: Every move to them is a change of direction. I'd like to point out on the 4-hour chart (in hindsight an 8-hour chart might have been better) that gold has merely dropped to the bottom of it's current short-term bull channel and I'd expect a return to $1,326 before the next pullback. Gold 4-hour chart {image}
Don't you think it'll go further down sir?
  • #33,839
  • Jul 15, 2014 6:48pm Jul 15, 2014 6:48pm
1285 is short target
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  • #33,840
  • Edited 7:40pm Jul 15, 2014 7:38pm | Edited 7:40pm
Quoting number15
{quote} Don't you think it'll go further down sir?
Possibly, but after a $68 dollar move down it's more reasonable to go short from a higher position after a bounce. From an hourly scalping perspective, $1,278, the 27.2% extension of this last move down on the hourly chart (purple Fibonacci but the extension is below the bottom of this chart) and the 38.2% (black Fibonacci) shown on the weekly chart is certainly a reasonable downside target if $1,293 is breached, and gold does love 27.2% extensions, but then again $1,293 was the 27.2% extension of the move down yesterday (black Fibonacci). Gold also loves 23.6% pullbacks so $1,313 would be the minimum from which I'd want to short from but my preference would be a larger pullback between $1,322-$1,325. In either case I'd like to see RSI back at either descending resistance on the hourly chart or at 50 before going short.

Gold hourly chart
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Bear in mind you can see on the weekly chart that gold is retesting the monthly descending trendline from the 2012 high and is at ascending RSI support and critical RSI 50 (remembering though that RSI requires a closing candle which we obviously don't have yet) so I'd prefer to see these levels breached before switching to an overall bearish bias.

Gold weekly chart
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You can always make money tomorrow provided you don't lose it today.
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