XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1936 | Metals Mine

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

  • #38,701
  • Dec 2, 2016 12:42am Dec 2, 2016 12:42am
Hey GoldGirl....Silver has just done a textbook A B C to the downside...looking like a impulsive up move

and my Dollar model says down now till the year end...

kinda confirmed with bonds....we're getting rid of liquidity after the election ran it up

Quoting goldgirl
{quote} From 1190 - 1169, pretty good pips now. Waiting for it to reach 1150 by Friday.
  • #38,702
  • Dec 2, 2016 2:50am Dec 2, 2016 2:50am
I close my short. Wait and see what happen with monthly NFP news next 4.5 hours after NY session open ..... Today a little bounce up after red unemployment news yesterday.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #38,703
  • Dec 2, 2016 5:40am Dec 2, 2016 5:40am
Quoting Gbp/jpy
Hey GoldGirl....Silver has just done a textbook A B C to the downside...looking like a impulsive up move and my Dollar model says down now till the year end... kinda confirmed with bonds....we're getting rid of liquidity after the election ran it up {quote}
yeah good advice. Your a real smart one.
  • #38,704
  • Dec 2, 2016 5:41am Dec 2, 2016 5:41am
Keep those bearish comments coming from others.

The more bulls the merrier.

Also watching NFP for possible sentiment shift.
  • #38,705
  • Dec 2, 2016 5:56am Dec 2, 2016 5:56am
Quoting SunTrader
Keep those bearish comments coming from others. The more bulls the merrier. Also watching NFP for possible sentiment shift.
Do you really think Non farm can change the sentiment? I am very unsure about that.
Very bad number will for sure give a spike up in gold. But I do not think it will change sentiment.

Italy and what happens there in weekend will shift sentiment if it goes bad.

FOMC and ECP in December is also on the table and can give some changes.

So for now maybe if we get a double with very bad Non farm + Italy fail it change before FOMC and ECB IMO and then it starts with non farm today. If Italy goes as expectation is ( no changes ) there will be no changes for now with sentiment still down until further and non farm will be a spike and sell opportunity if numbers are bad.
Trading in the shadow of SM
  • #38,706
  • Edited 9:00am Dec 2, 2016 7:49am | Edited 9:00am
NFP is no red no green ..... imho seem like will continue down. Put sell limit 1172 - 1174. SL 1180
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #38,707
  • Dec 2, 2016 2:22pm Dec 2, 2016 2:22pm
The global economy is recovering. USA data is getting better every month and EUR data, at least, shows decline in weakening speed. Commodity price increasing is a sign of this recovery and in the other hand may make better future for emerging economies. I believe this can be a reasonable intellectual framework for thinking about Gold fundamental situation. In technical view, as you can see in below picture, Gold had a risky year in 2016 because of ambiguous factors like ISIS, USA elections, OPEC deals, middle east conflicts and etc. These factors increased demand for Gold after about 5 years price decreasing. But after lightening the situation about most of these factors Gold price broke 23.6%, 38.2% and 50% support levels of Fib retracement for the last rising wave. The November candlestick was the most important try for breaking the golden ratio of Gold price. I believe it could weak this support level very much. I expect December candle will be the final arrow shouted to heart of gold price in 2016. Wait for prices below 1100$.
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  • #38,708
  • Dec 2, 2016 4:13pm Dec 2, 2016 4:13pm
Despite US December rate hike almost totally priced in, I can still see a little up-movement til ~102.5 by late December - lets see....
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  • #38,709
  • Dec 2, 2016 5:02pm Dec 2, 2016 5:02pm
Quoting Earleone
{quote} Do you really think Non farm can change the sentiment? ...
Absolutely ... it can. Did it this time, obviously no with the number being basically in the expected range.
  • #38,710
  • Edited 5:51am Dec 3, 2016 4:38am | Edited 5:51am
Quoting SunTrader
{quote} Absolutely ... it can. Did it this time, obviously no with the number being basically in the expected range.
Yes . HL and HH on 1 H timeframe. Bullish daily candle and bullish close on weekly. USD index with bearish close. And with the risk event in Italy for weekend we can have seen the floor and possible also that the correlation to USD become weaker again. I am switching to a neutral outlook short term for now and watching 1200 level that is key for bullish IMO how it looks now.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDXWeekly.png Size: 45 KB
Trading in the shadow of SM
  • #38,711
  • Dec 3, 2016 7:20am Dec 3, 2016 7:20am
Quoting IPMan
{quote} I think it may fall to 1115
I think so too, but I am not sure I want to hold a position open for so long.
  • #38,712
  • Dec 3, 2016 7:21am Dec 3, 2016 7:21am
Quoting Earleone
{quote} Yes . HL and HH on 1 H timeframe. Bullish daily candle and bullish close on weekly. USD index with bearish close. And with the risk event in Italy for weekend we can have seen the floor and possible also that the correlation to USD become weaker again. I am switching to a neutral outlook short term for now and watching 1200 level that is key for bullish IMO how it looks now.
Like I said previously:

"Keep those bearish comments coming from others."
  • #38,713
  • Dec 3, 2016 12:59pm Dec 3, 2016 12:59pm
Something interesting on Gold corrections: 3 out of the last 4 corrections were all $165 moves (yellow lines) 5th time the charm?
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  • #38,714
  • Dec 3, 2016 1:28pm Dec 3, 2016 1:28pm
It already is $174+
  • #38,715
  • Dec 3, 2016 6:03pm Dec 3, 2016 6:03pm
Quoting SunTrader
It already is $174+
Then long overdue a bounce eh?
  • #38,716
  • Dec 3, 2016 6:28pm Dec 3, 2016 6:28pm
Quoting Ren1058
{quote} Then long overdue a bounce eh?
Nothing to say it can't stay overdue. Just like overbought/oversold can stay that way longer than traders expect.

Should doesn't mean will.
  • #38,717
  • Dec 4, 2016 3:36am Dec 4, 2016 3:36am
Bullish on metals.
  • #38,718
  • Dec 4, 2016 5:26pm Dec 4, 2016 5:26pm
Quoting SunTrader
{quote} Nothing to say it can't stay overdue. Just like overbought/oversold can stay that way longer than traders expect. Should doesn't mean will.
and sometimes should means will
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  • #38,719
  • Dec 4, 2016 7:15pm Dec 4, 2016 7:15pm
Quoting Ren1058
{quote} and sometimes should means will
Sometimes means sometimes it does. Other times it doesn't. That is the very definition of sometimes.

Never, will, should, always, guaranteed, no doubt, has to are words used by newbies. Thought you would like to know to keep it in mind for the future?? Maybe not.
  • #38,720
  • Dec 4, 2016 7:17pm Dec 4, 2016 7:17pm
Bounce it did. And then splat.
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