XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1757 | Metals Mine

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

  • #35,121
  • Mar 7, 2016 10:29am Mar 7, 2016 10:29am
trading currencies is something against my own rules but could not resist oppurunity to buy USD/CAD wit stop loss of 1.3285
  • #35,122
  • Mar 7, 2016 10:32am Mar 7, 2016 10:32am
As gets said a lot, the market can never be too high or too low, overbought might be the case but doesn't mean it can't keep on going.
I'm still bullish on gold so will just follow the trend which looks up the moment so I've just been buying pullbacks.

With the current state of the global economy too its not surprising investors are piling into Gold. When everything goes bad finance wise, gold goes up.
  • #35,123
  • Mar 7, 2016 10:32am Mar 7, 2016 10:32am
Quoting gold-analyst
trading currencies is something against my own rules but could not resist oppurunity to buy USD/CAD wit stop loss of 1.3285
Got the same trade going but my stop is lower down below the 200 ma
  • #35,124
  • Mar 7, 2016 10:38am Mar 7, 2016 10:38am
looks like dragon has rebounded nicely , my favourite
  • #35,125
  • Mar 7, 2016 10:51am Mar 7, 2016 10:51am
seems like usd trying to fight against cad
  • #35,126
  • Mar 7, 2016 10:54am Mar 7, 2016 10:54am
Quoting Pip-Miner
{quote} My gold expert friend who works for a major bend snd trades millions said this will reverse slowly after hitting 1300 , his looking to buy at lower levels around 1164, for a bull run , the big one we will soon see
According to what I have for Elliott Wave analysis, this is highly probable, in fact, I am counting on it.
  • #35,127
  • Mar 7, 2016 10:55am Mar 7, 2016 10:55am
by the way i moved my stop loss to 1.3275 but not moving it any lower because if it has to go up then it will from here else it contradicts my analysis on usdcad currencies have never been my facvourite anyways
  • #35,128
  • Mar 7, 2016 11:39am Mar 7, 2016 11:39am
hate currencies, gold is my favorutie
  • #35,129
  • Mar 7, 2016 11:48am Mar 7, 2016 11:48am
without any doubts i see 1255
  • #35,130
  • Mar 7, 2016 2:58pm Mar 7, 2016 2:58pm
you can't short sell this unless you are suicidal.

note strong rsi divergence also. this is D1 chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB
  • #35,131
  • Mar 7, 2016 7:18pm Mar 7, 2016 7:18pm
Quoting asgcorp
you can't short sell this unless you are suicidal. note strong rsi divergence also. this is D1 chart. {image}
Agreed , I don't have the skill like gold analyst to make money against such a strong trend so it's all buy buy buy
  • #35,132
  • Mar 7, 2016 8:17pm Mar 7, 2016 8:17pm
Quoting asgcorp
you can't short sell this unless you are suicidal. note strong rsi divergence also. this is D1 chart. {image}
In your chart RSI is diverging with price and NOT confirming up move.
  • #35,133
  • Mar 7, 2016 8:27pm Mar 7, 2016 8:27pm
Quoting SunTrader
{quote} In your chart RSI is diverging with price and NOT confirming up move.
true but also RSI is way past the peak of 70 so the uptrend will continue. 70+ rsi considered overbought mainstream, however multiple assets have rallied in the past with the RSI in the overbought territory.

Meanwhile gold is @ 1272, and some shorts were taken by traders @ 1255. Cool.
  • #35,134
  • Mar 7, 2016 11:04pm Mar 7, 2016 11:04pm
Quoting asgcorp
{quote} true but also RSI is way past the peak of 70 so the uptrend will continue. 70+ rsi considered overbought mainstream, however multiple assets have rallied in the past with the RSI in the overbought territory. Meanwhile gold is @ 1272, and some shorts were taken by traders @ 1255. Cool.
  • #35,135
  • Mar 7, 2016 11:17pm Mar 7, 2016 11:17pm
From a psychological point. The gold market is ready for a change. But the technical aspects. A decline is occurring. So we need some patience. Gold may drop to 1191. It also has the potential to increase up to 1455. Good luck
  • #35,136
  • Mar 8, 2016 2:10am Mar 8, 2016 2:10am
Quoting Pip-Miner
{quote}
just hit new highs over 1274.
  • #35,137
  • Mar 8, 2016 2:21am Mar 8, 2016 2:21am
Quoting asgcorp
{quote} just hit new highs over 1274.
yeah I just smashed it with buys
  • #35,138
  • Mar 8, 2016 2:22am Mar 8, 2016 2:22am
let it retrace and I will apply. My famous "pyramid addin methodology " on it
  • #35,139
  • Mar 8, 2016 2:41am Mar 8, 2016 2:41am
currently smashing more. New highs
  • #35,140
  • Mar 8, 2016 2:48am Mar 8, 2016 2:48am
this area 0f 1270-5 is a strong resistance if we break through next resistance is aroundd 1300-25
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