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

  • #9,461
  • Aug 29, 2011 8:58am Aug 29, 2011 8:58am
Quoting fawaol
Oanda is good in many reasons like that:
1) Very fast excecution - mt4 lagging fatally.
2) Summary position mangement - great thing for scalping.
3) Nonstandart timeframes - 5s, 10s, 30s & so on.
4) Onchart changing stops, profits.

I keep both platforms opened.

sorry, agree on OANDA fast execution. FXCM is slow, though.
trading is my zen
  • #9,462
  • Aug 29, 2011 8:59am Aug 29, 2011 8:59am
Everyone remaining ominously silent...

Watching 1778 for short term, should serve as support, got supported few times there after 1830.
  • #9,463
  • Aug 29, 2011 9:16am Aug 29, 2011 9:16am
Quoting Icosahedron
Everyone remaining ominously silent...

Watching 1778 for short term, should serve as support, got supported few times there after 1830.
I'd like to see it test 1830 again. I think that big HNS on gold is a little bit.. awkward? I can't take that seriously
  • #9,464
  • Aug 29, 2011 9:17am Aug 29, 2011 9:17am
Quoting Icosahedron
Everyone remaining ominously silent...
Ok, I will break the silence:
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-08-26-214926_1017x507_scrot.png Size: 25 KB

  • #9,465
  • Aug 29, 2011 9:22am Aug 29, 2011 9:22am
Quoting Firsh
I'd like to see it test 1830 again. I think that big HNS on gold is a little bit.. awkward? I can't take that seriously
Same. Can't really understand how it's going to pull back so far, but I see a lot of buzz about 1600 and 1650... To be honest, I'm unable to track the reasons behind those claims.
But, I guess the pros know much better than me.

Still going some short-term long near 1780.


7bit - that was creative.
  • #9,466
  • Aug 29, 2011 9:34am Aug 29, 2011 9:34am
If this really forms a H&S (what I firmly believe) with a neck line around 1700 and then this huge 210$ h&s will be broken this would project a target of another 210$ + lower to the 1480$ level.

1480 could then serve as the neckline for an even bigger H&S of 433$ height and send it down to around 1050$

this is what I am currently seeing in the charts.
  • #9,467
  • Aug 29, 2011 9:41am Aug 29, 2011 9:41am
gold below 1800 it can be drop again ? i think gold key 1800 if break will be down side again in profit taking. what do you think?
  • #9,468
  • Aug 29, 2011 9:44am Aug 29, 2011 9:44am
Quoting 7bit
If this really forms a H&S (what I firmly believe) with a neck line around 1700 and then this huge 210$ h&s will be broken this would project a target of another 210$ + lower to the 1480$ level.

1480 could then serve as the neckline for an even bigger H&S of 433$ height and send it down to around 1050$

this is what I am currently seeing in the charts.
Nice view, i bet more on 1600 level but if the bears start to play everything is possible!
  • #9,469
  • Aug 29, 2011 9:46am Aug 29, 2011 9:46am
Quoting beeb
I was hoping that price would revisit the lows so when I saw point 2 was not as high in the fork as point 1 (despite being higher horizontally) I was alerted to the possibility of weakness.

beeb
Seems that you are following Tim Morge lessons. Good job!
  • #9,470
  • Edited 10:24am Aug 29, 2011 10:00am | Edited 10:24am
Quoting mahdiquant
Seems that you are following Tim Morge lessons. Good job!

Wrong.

I don't like or use Tim Morge at all - I find Paul Coghlan a far better teacher and much more incisive in his analysis.....

beeb
  • #9,471
  • Aug 29, 2011 10:15am Aug 29, 2011 10:15am
Personally I wouldn't mind seeing a retrace to the 1600 - 1550 area. A good 50% to 62% retrace would really be in line with making new highs down the road (Jan 2011 swing poing). Commodity bull markets run on average 17 - 22 years (Jim Rogers) and we are at 10-11 years so far. So a big pull back like this would actually be healthy. $200 - $400 drop for a several thousand gain is just a drop in the bucket LONG TERM.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #9,472
  • Aug 29, 2011 10:23am Aug 29, 2011 10:23am
Quoting 7bit
If this really forms a H&S (what I firmly believe) with a neck line around 1700 and then this huge 210$ h&s will be broken this would project a target of another 210$ + lower to the 1480$ level.

1480 could then serve as the neckline for an even bigger H&S of 433$ height and send it down to around 1050$

this is what I am currently seeing in the charts.

Given your new thread this just has to be a provocative post here lol......

Apart from the notorious unreliability of H & S formations, and excluding all the technical support levels, in order to see gold at $1050 again IMHO you would need to solve:

1. Inflationary concerns
2. Booming money supply
3. Market jitters
4. Central bank diversification

Good luck

beeb
  • #9,473
  • Aug 29, 2011 10:30am Aug 29, 2011 10:30am
Quoting beeb
Given your new thread this just has to be a provocative post here lol......

Apart from the notorious unreliability of H & S formations, and excluding all the technical support levels, in order to see gold at $1050 again IMHO you would need to solve:

1. Inflationary concerns
2. Booming money supply
3. Market jitters
4. Central bank diversification

Good luck

beeb
Add inventing Philosopher's stone to the list.
  • #9,474
  • Aug 29, 2011 10:38am Aug 29, 2011 10:38am
Quoting Firsh
Add inventing Philosopher's stone to the list.
Haha! Nice one. I think the closest they have come to the philosopher's stone is gold plated tungsten bars. If you can't make it, fake it.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #9,475
  • Aug 29, 2011 10:41am Aug 29, 2011 10:41am
Quoting beeb
Given your new thread this just has to be a provocative post here lol......

Apart from the notorious unreliability of H & S formations, and excluding all the technical support levels, in order to see gold at $1050 again IMHO you would need to solve:

1. Inflationary concerns
2. Booming money supply
3. Market jitters
4. Central bank diversification

Good luck

beeb
here's a nice article to read, courtesy of The Vancouver Sun dated 28 Oct 1933:-

http://news.google.com/newspapers?id...eme+test&hl=en
  • #9,476
  • Aug 29, 2011 10:47am Aug 29, 2011 10:47am
Quoting beeb
Given your new thread this just has to be a provocative post here lol......

Apart from the notorious unreliability of H & S formations, and excluding all the technical support levels, in order to see gold at $1050 again IMHO you would need to solve:

1. Inflationary concerns
2. Booming money supply
3. Market jitters
4. Central bank diversification

Good luck

beeb

tat was a gd one!
  • #9,477
  • Aug 29, 2011 11:34am Aug 29, 2011 11:34am
Looking for that breakout at once...

Still seeing 1778 as short term support, and 1802 (100SMA on M15) as short-term resistance.

The price is moving downwards very, very slowly, but I think it can only go within that range (1778-1802) if it doesn't have some violent surge in mind.
  • #9,478
  • Aug 29, 2011 12:02pm Aug 29, 2011 12:02pm
Quoting _BBKing_
hello,
i would like to post 2 charts.
h4 n weekly

h4 shows me price lost red TL n found support @its ema200.
possible move to near 1860/65 where will find TL from below + upper bands + last week opening price.

in weekly price found resist at FE161.8 of last wave (1309-1578-1475) building that kind of candle after 6 straight up candles.

i dont think move from 1900 was only due to taking profits.....

in few words, i see much probable a move to 1600 area than a move above actual highest. or better, not clearly a good setup to buy now a med/long...
90% of traders use TA, indicators and prediction
  • #9,479
  • Aug 29, 2011 1:19pm Aug 29, 2011 1:19pm
ZUPv86 showed a bullish bat (harmonic) on M15, 4 bull candles since then. Don't think it'll last though..
  • #9,480
  • Aug 29, 2011 1:36pm Aug 29, 2011 1:36pm
Talking about a 1500 level or 1600 level is a bit too down I think.. Even when this h & s indicates 1600... I know that bears and those shorting gold are really wanting to see the metal going down further, but im not talking about personal profits, just about the objective point of what could/can happen.

More like 1700 sounds logic to me, to go to 2000, which is a FACT at this time, only question is when will that happen. I still believe September looks decent to reach 2000.

But again, that's my view, time will tell.
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