XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1767 | Metals Mine

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

  • #35,321
  • Mar 10, 2016 1:10pm Mar 10, 2016 1:10pm
Quoting edyraper
{quote} closes above 1275 may not be bearish ... {image} silver may help gold bulls, 16.22 is there {image}
haven't been expecting that 123x retrace how ever , that was quick up move , silver still way under 16.22 , it may pull up gold with it up to 1300
  • #35,322
  • Mar 10, 2016 4:38pm Mar 10, 2016 4:38pm
I expect a bounce in the Dollar, even if it is only a short term one, based on hitting various support levels (tl, fibs etc) and reaction to wide range today. Which of course means an opposite reaction in gold:
Attached Image (click to enlarge)
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  • #35,323
  • Mar 10, 2016 7:29pm Mar 10, 2016 7:29pm
Potential short opportunity at 1291, SL above 1308. Targeting 99x.
  • #35,324
  • Mar 10, 2016 8:48pm Mar 10, 2016 8:48pm
good morning gold traders

ECB might not be the biggest announcement of the week watch out for BPOC over the weekend

Exclusive: China to ease commercial banks' bad debt burden via equity swaps - sources

It seems that the G20 meeting last week gave a green light to CB's to through the kitchen sink at current slow down
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #35,325
  • Mar 10, 2016 8:50pm Mar 10, 2016 8:50pm
Quoting diggo
Potential short opportunity at 1291, SL above 1308. Targeting 99x.
Good luck with that
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #35,326
  • Mar 10, 2016 8:51pm Mar 10, 2016 8:51pm
Quoting SunTrader
I expect a bounce in the Dollar, even if it is only a short term one, based on hitting various support levels (tl, fibs etc) and reaction to wide range today. Which of course means an opposite reaction in gold: {image}
I don't think dollar strength will effect gold right now mate
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #35,327
  • Mar 11, 2016 12:18am Mar 11, 2016 12:18am
Actual Gold outlook from J.Kennedy of EWI

Sixer
Attached Image (click to enlarge)
Click to Enlarge Name: EW-Gold 10.3.16.gif Size: 47 KB
  • #35,328
  • Mar 11, 2016 12:34am Mar 11, 2016 12:34am
Quoting Sixer
Actual Gold outlook from J.Kennedy of EWI Sixer {image}
  • #35,329
  • Mar 11, 2016 12:54am Mar 11, 2016 12:54am
Quoting Sixer
Actual Gold outlook from J.Kennedy of EWI Sixer {image}
I'm not ew expert but think this chart was before price pierced his 5th high so he probably will be updating his count
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #35,330
  • Mar 11, 2016 1:54am Mar 11, 2016 1:54am
With due respect to J. Kennedy, here's an XAUUSD alternate wave count:

Strong impulsive PA and wave count since 3 Dec 2015 low suggests a major trending impulse wave (C) advance, more likely a straight 5 waves impulse than an ED.
Projection of such impulse pattern could see Gold reaching 1540.00 by the year end with ease.

Anyway, immediate price action could see retracement towards 1144.00 area before resuming uptrend.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH4 11Mar16b.png Size: 41 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #35,331
  • Mar 11, 2016 2:14am Mar 11, 2016 2:14am
Srry guys, you miss the "Big Picture" of Gold

Sixer
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  • #35,332
  • Mar 11, 2016 3:27am Mar 11, 2016 3:27am
This is frustrating. For a moment there I thought there'll be a breakout above 1280, but apparently that didn't happen. Can the last two attempts to break above that level be counted as a double top?
  • #35,333
  • Mar 11, 2016 3:36am Mar 11, 2016 3:36am
Quoting mlawson71
This is frustrating. For a moment there I thought there'll be a breakout above 1280, but apparently that didn't happen. Can the last two attempts to break above that level be counted as a double top?
Just wait for NY opens that's when liquidity kicks in if ther is any chance of break today then most probably will be during US session

and in in my opinion that's not a double top mate
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #35,334
  • Mar 11, 2016 4:07am Mar 11, 2016 4:07am
My guess is it'll pull back around today's pivot at 1260 area, which is also where SMA 50 of H1 lining up nicely.. No major US or Euro news for today.. So it'll most likely be technical moves by major players then.. Again, need to see confirmation candle/formation in the area for assurance on how it'll play out.. We'll see..
  • #35,335
  • Mar 11, 2016 4:08am Mar 11, 2016 4:08am
I think we see 1300 this month. Next stop if we break 1300 is 1400
  • #35,336
  • Mar 11, 2016 5:14am Mar 11, 2016 5:14am
I just see dont see anything obvious to make comment on gold. however i see gbpusd going to 1.4350
  • #35,337
  • Mar 11, 2016 6:08am Mar 11, 2016 6:08am
can see it rising now . but dont have time to trade, going away for lunch
  • #35,338
  • Mar 11, 2016 7:30am Mar 11, 2016 7:30am
Quoting gold-analyst
completely agree with you here james. its amazing when it is going up how every one starts predicting its going up and when its is going down people change trend too but still everyone struggles to trade at times. anyways wont say a great as i didnt make any gains but wont call it a bad day either as losses were fraction of yesteday gains {quote}
It's just human nature to go with the flow - I know I do it often enough, although I know I shouldn't.

Gold is still undecided, unfortunately, and I'm not opening any positions before I see it move in a definite direction.
  • #35,339
  • Mar 11, 2016 7:52am Mar 11, 2016 7:52am
resistance test was rejected during Asian session now US open it will probably have another go at the 1275 level if Bulls succeed the next level a little above 1300
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #35,340
  • Mar 11, 2016 7:54am Mar 11, 2016 7:54am
Usually most Friday's (excluding NFP Friday's) any move of significance, if one happens at all, happens prior to NY lunch hour.
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