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

Hit price and more importantly time resistance:

Hey sun trader it's been a year or so since I've been around.
I haven't gone back and read any post but I notice you have mentioned a key words "more importantly time" that most do not consider.
From my angle and speaking of "time"the 2015 " primary"yearly trend comes from that 1248-58 area which happens to line up with the "secondary trend" quarterly highs your time line is showing .
meaning major resistance or if she flips major support.
of coarse the "lesser"monthly trend is topped also.

Hi Suntrader,
So you think it's going south?
with that pinbar at major resistance, I think so

Hi lilpip I just started posting here again myself last month.

Speaking of quarterly:

Yes among reasons pinbar is one on intermediate basis. But also trend has and continues to be down - except on a short timeframe.

Wed daily
1246
1226
1206
Eye on the 5 min and 1226 response
although major , secondary and lesser trends are dowm we still take it a day at a time.
daily bias is up from 1226
bounce noted

Good morning NY
lets see if 1226 holds or flips .
eyes on 1233-34 response.
eyes on the 5 min.

thur daily
bias still up from 1226 along with about same range
but would have like to see a close above 1233-34 area if we were going north

Today was another pinbar type daily candle.

Still bearish for me until such time.

From my angle,
Rotation back to yearly pivot and quarterly highs area 1248-58 area noted.
I have to go with the trend which would be down from line in sand 1259.
However, first things first where's day and week close?
The daily weekly and monthly breakout is noted the the stronger trends of quarterly at (breakout) point and the yearly at (flipping) point at $1259

Swiss National Bank euro peg lifting throws everything including Gold into flux.

I'm giving it and the market time before I decide what I think is next.

But price is approaching my line in the sand make or break level.

A coincidence that the first post I read here in a long time is about the Swiss Franc which, in addition to Russia finally dropping the petrodollar, was what I was primarily contemplating this morning. I agree with Richard Perry from Hantec Markets that this may have been a forerunner to the long-awaited, potentially trillion Euro ECB QE that may be announced next Thursday that the Swiss didn't want to be tied to.

I'm bearing in mind that ECB QE could be largely priced into the Euro and precious metals, so if it is announced it may not necessarily cause the reaction you might expect, at least not initially, so like any major announcement, trade at your own risk. Combined with the already 15,000 oil job cuts in the U.S. and a U.S. economic plan that relied on oil industry jobs for growth which are disappearing instead (projections already down 250,000 jobs), the US Dollar run may come to an end at the FOMC minutes the following Wednesday despite an ECB QE announcement with negative Euro follow through which could be either good or bad for metals.

At the moment I'm holding gold long on a daily close above the prior $1,250 peak high and likely into the ECB announcement next week as I believe that will be the next catalyst, one way or the other, and likely hold the resulting direction into the FOMC the following week.

Daily, weekly, and monthly RSI are all pointing up, daily and weekly RSI are above 50 and monthly RSI is in an ascending channel which is bullish, and the descending weekly RSI resistance line going back to 2012 is at 60 (currently 55), all of which suggests further upside. The 78.6% retracement sitting at $1,300 looks like a good target to me.

Daily gold

Fri daily
1274
1252
1230
bias up from thur daily high breakout 1247-1252 fri pivot
eyes on 1258-59 response

hi all, one question please out of the topic

I am using alpari.co.uk

I cant trade gold from their platform... (i do not know about the other pairs)

They have technical problems or something more serious?

Does anybody knows?

Thnaks in advance

alpari has gone bust am also their client and am very worried

I think alpari might had some positions in USD/CHF and they got crushed in that. due to very big fall in that.
Meanwhile here are my plans for GOLD

Hi

Trade safely when banks rock the markets

?

1298 weekly high noted
rotation back to support next?

Will see how potential buy zone responds on retest.
Also my eyes will be on that 1240 area