My Guess. US need to build more infrastructure. So they need cheap raw material such as oil and silver. When China needed raw material. Oil went up to 120. Silver to 22. It's always market manipulation for the benefit of US.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #38,504
- Nov 11, 2016 1:44pm Nov 11, 2016 1:44pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #38,505
- Nov 11, 2016 1:48pm Nov 11, 2016 1:48pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
some have asked me what would be good stop loss. well I have been waiting for 1219-1220 level for past 2-3 months. I believe 1215 should not get breached.
ones who have faith in my analysis, you guys can go long at 1263-64 i.e current price with stop loss at 1260
- #38,516
- Nov 13, 2016 7:16am Nov 13, 2016 7:16am
I think it will still touch 1215-1216 and than a lift off expected
1210 is the 50% retracement of the entire bull run from dec/jan and could offer support. Lets see where the price opens on sunday.
Charts: XAUUSD/UJ/EU. Tools: stoch/daily pivots/fibo/channels. Scalper.
Hi that's what I said last month. as that was a good level to go long and eventually It went back to 1307 level. when it was 1263 due to unexpected move which market makes lot of times it went back to 1244 ish level however it came back up and made move to 1307.
also then if you would look it move to 1270 and then 1262 level provide it support and too back to 1307.
now around 10 days ago I said short at 1304 and expecting a big drop, it did happen however US election spiked it up to 1307 that was again unexpected spike but eventually it came down.
now talking about my current analysis, the price has come back to 1219 level which I though would come around first week of November. so if this happened in line with my own views that giving me strong intuition that it will go high from now.
but I always said there are lot of factors to consider before going long. though I am confident it will go up from 1219.dont forget below:-
1. there is always a market risk, analyst are not 100 percent, though every some analyst have higher rate of success and some have less, analyst have to show confidence in their analysis if they believe in themselves.
2. 1215-16 is good support and again 1210 is good Fibonacci 50% level which you mentioned in your post too, and then 1200 is strong psychological support level , 1191 is good level as price retraced from there last time and 1182 is very strong support level as it has been tested 3 times at least in past 3 years.
3. its year end so lot of uncertainty due to less volatility
4. lot of economic activities happening, BREXIT, US elections, US interest rate.
all the above and many more factors can effect this price movement of gold
However to conclude. I feel confident with my analysis because I have been waiting for this level for past 3 months that it will test around 1219 and then go up. now its upto people to believe ignore or criticize or support as there are always chances to go wrong and time will tell.
also then if you would look it move to 1270 and then 1262 level provide it support and too back to 1307.
now around 10 days ago I said short at 1304 and expecting a big drop, it did happen however US election spiked it up to 1307 that was again unexpected spike but eventually it came down.
now talking about my current analysis, the price has come back to 1219 level which I though would come around first week of November. so if this happened in line with my own views that giving me strong intuition that it will go high from now.
but I always said there are lot of factors to consider before going long. though I am confident it will go up from 1219.dont forget below:-
1. there is always a market risk, analyst are not 100 percent, though every some analyst have higher rate of success and some have less, analyst have to show confidence in their analysis if they believe in themselves.
2. 1215-16 is good support and again 1210 is good Fibonacci 50% level which you mentioned in your post too, and then 1200 is strong psychological support level , 1191 is good level as price retraced from there last time and 1182 is very strong support level as it has been tested 3 times at least in past 3 years.
3. its year end so lot of uncertainty due to less volatility
4. lot of economic activities happening, BREXIT, US elections, US interest rate.
all the above and many more factors can effect this price movement of gold
However to conclude. I feel confident with my analysis because I have been waiting for this level for past 3 months that it will test around 1219 and then go up. now its upto people to believe ignore or criticize or support as there are always chances to go wrong and time will tell.
{quote} But a month ago you recommended others to go long @ 1263 {quote}
- #38,518
- Nov 13, 2016 11:48am Nov 13, 2016 11:48am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
