XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1915 | Metals Mine

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

  • #38,281
  • Oct 31, 2016 4:15am Oct 31, 2016 4:15am
Quoting Uturn2
XAUUSD 1H Chart: Cheers, U2 {image}
How did you count the corrective a? Wave A must be at the bottom isn't it?
  • #38,282
  • Oct 31, 2016 5:13am Oct 31, 2016 5:13am
XAUUSD 15M Chart:
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD 161031 15M [1].png Size: 59 KB
Wait, or you will be slaughtered!
  • #38,283
  • Oct 31, 2016 5:16am Oct 31, 2016 5:16am
Quoting IPMan
{quote} How did you count the corrective a? Wave A must be at the bottom isn't it?
It's called Harmonic Elliott Wave.
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: #HEW Struc Short.jpg Size: 16 KB
Attached Image
Wait, or you will be slaughtered!
  • #38,284
  • Oct 31, 2016 5:52am Oct 31, 2016 5:52am
Quoting Uturn2
{quote} It's called Harmonic Elliott Wave. Cheers, U2 {image} {image}
Ah I see, thanks!
  • #38,285
  • Oct 31, 2016 5:58am Oct 31, 2016 5:58am
Quoting IPMan
{quote} Ah I see, thanks!
So you still count it as the starting of wave v, am I right?
  • #38,286
  • Edited 6:38am Oct 31, 2016 6:23am | Edited 6:38am
Quoting IPMan
{quote} So you still count it as the starting of wave v, am I right?
XAUUSD 4H Chart:
This is how I view it.
Edit: Green Wave -a- / -b- / -c- / -i-
Long long way to go if the count is correct.
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD 161031 4H [1].png Size: 19 KB
Wait, or you will be slaughtered!
  • #38,287
  • Oct 31, 2016 6:33am Oct 31, 2016 6:33am
Quoting Uturn2
{quote} XAUUSD 4H Chart: This is how I view it. Long long way to go if the count is correct. Cheers, U2 {image}
Whew okay
  • #38,288
  • Oct 31, 2016 7:18am Oct 31, 2016 7:18am
It's pretty much a magnet to 1300.00 and 18.00 at this point. We eill see how forceful the push is
  • #38,289
  • Oct 31, 2016 8:05am Oct 31, 2016 8:05am
Magnets pull, not push.

And IMO it is being pulled ... down.
  • #38,290
  • Oct 31, 2016 8:20am Oct 31, 2016 8:20am
Quoting SunTrader
Magnets pull, not push. And IMO are pulling it ... down.
Can be. I have a daily ( orange ) and a weekly ( red ) channel on attached chart.

My expectation is that we get an HL around or above the low weekly channel ( That will be a bear trap for the lower TF ) It will break out of this ( one way ore the other. I expect bullish break after HL on daily above or around weekly channel low)

Think we can get very volatile week .
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDDaily.png Size: 33 KB
Trading in the shadow of SM
  • #38,291
  • Oct 31, 2016 8:21am Oct 31, 2016 8:21am
Gold is testing the support at $1,270 which coincides with (MA)89 on the four-hour time-frame. I don't intend to open a new short before it breaks below that level.
  • #38,292
  • Edited 8:44am Oct 31, 2016 8:34am | Edited 8:44am
XAUUSD 30M Chart:
OK, Bulls are back?
Long 1274 TP 1294
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD 161031 30M [1].png Size: 61 KB
Wait, or you will be slaughtered!
  • #38,293
  • Oct 31, 2016 9:06am Oct 31, 2016 9:06am
XAUUSD 1H Chart:
Strong 1H Close?
Correction over?
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD 161031 1H [3].png Size: 54 KB
Wait, or you will be slaughtered!
  • #38,294
  • Oct 31, 2016 9:12am Oct 31, 2016 9:12am
Quoting Earleone
{quote} Can be. I have a daily ( orange ) and a weekly ( red ) channel on attached chart. My expectation is that we get an HL around or above the low weekly channel ( That will be a bear trap for the lower TF ) It will break out of this ( one way ore the other. I expect bullish break after HL on daily above or around weekly channel low) Think we can get very volatile week . {image}
Move down from late Sept (-7.48%) is clearly impulsive. Move up from early Oct lows (+2.93%) is clearly corrective.

Which probabilities say once correction is over new lows to follow.
  • #38,295
  • Oct 31, 2016 9:13am Oct 31, 2016 9:13am
Re-posted because it matters!

From Jed and Kirk Norwood:
If you follow your indicators, and trade the way you read the market,
then you will be in the minority.
For every winner there are nine losers.
That is why the winners win so big,
and the losers keep on doing what they do, and keep on losing.
Then they still wonder what is happening to them,
and why they can not make money in the market.
I use all of this noise as a heads up to check my indicators,
get my own reading on the market, then make my own decision.
The more noise I hear that the market is going in a certain direction,
the harder I look at my indicators, and make sure I know what my signals are telling me.
It takes time to learn to be in tune with the market, but once you find the connection,
you will be more relaxed and patient, waiting for the market to tell you what to do.
It is at this point that you will start to make the big bucks.
The market is a lonely business, so you have to find a balance between being alone,
and whom you talk to about the market.
Find some like-minded traders and help each other grow and trade wisely.
You will also find that once you are steady in your trading,
there will be many people wanting to get your advice on the market.
When you tell them you do not know what the market is going to do,
they wonder why you cannot look into your crystal ball and give them advice.
Well it is because the market is not telling you right then what it is going to do.
At this point I let them know that my indicators are not set up yet,
so I am calmly waiting for the proper signal.
Study, have fun trading and prosper.
Wait, or you will be slaughtered!
  • #38,296
  • Oct 31, 2016 9:19am Oct 31, 2016 9:19am
Quoting SunTrader
{quote} Move down from late Sept (-7.48%) is clearly impulsive. Move up from early Oct lows (+2.93%) is clearly corrective. Which probabilities say once correction is over new lows to follow.
It can happen if we get an overshoot for Nonfarm on friday. I can not think about other scheduled events that can break it out of the weekly pattern. The unscheduled events and surprises mostly push gold up.
Trading in the shadow of SM
  • #38,297
  • Oct 31, 2016 9:24am Oct 31, 2016 9:24am
It's look like Gold forming inverse Cup n Handle now.
Attached Image (click to enlarge)
Click to Enlarge Name: gold_pattern.jpg Size: 183 KB
  • #38,298
  • Oct 31, 2016 9:26am Oct 31, 2016 9:26am
SUCCESS = METHOD, TIMING, BOUNDARIES and TIME.
Always do what is in your best interest.
Patience will achieve more than force.
Relax! The market tells you what to do, and when to do it.
Let it happen, and let it not happen.
Relax! If you get Stopped Out, the trade was successfully executed.

Cheers, U2
Wait, or you will be slaughtered!
  • #38,299
  • Oct 31, 2016 9:45am Oct 31, 2016 9:45am
Quoting marshadaddy
It's look like Gold forming inverse Cup n Handle now.{image}
Yes..
  • #38,300
  • Oct 31, 2016 10:07am Oct 31, 2016 10:07am
Quoting Uturn2
XAUUSD 1H Chart: Strong 1H Close? Correction over? Cheers, U2 {image}
Still bear though, I didn't open any trades coz there's too much fake movement
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