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

  • #16,121
  • Feb 4, 2012 6:23pm Feb 4, 2012 6:23pm
Quoting kill56
save this darn thing on u screen and read it every day befor u start trading
Simple but so important - if only someone had hammered this in to me when I started out, thankyou for reminding us now
  • #16,122
  • Feb 4, 2012 8:38pm Feb 4, 2012 8:38pm
both technical and fundamental indi were screaming at 1760 that short gold
but since I have 2 mnth old buy @1793 couldn't take that
my believe in demand supply have increased more
  • #16,123
  • Edited 8:52pm Feb 4, 2012 8:51pm | Edited 8:52pm
Quoting jaimini
both technical and fundamental indi were screaming at 1760 that short gold
but since I have 2 mnth old buy @1793 couldn't take that
my believe in demand supply have increased more
I expect Demand to rise from Here. Not a Perpetual Bull but Bullish from here.
Test 1,743, 1,750 & 1,763 thereafter.

B

Edit* Add. Will try to get a couple @ 1,722 or so.
  • #16,124
  • Feb 5, 2012 4:37am Feb 5, 2012 4:37am
So, Bemac, you don't think price can drop to 1714-16 or even test the 1668-80 zone which was the last resistance that needed to be drilled with a skyrocketing move?

What is your expected floor? 1720?
  • #16,125
  • Feb 5, 2012 5:39am Feb 5, 2012 5:39am
Quoting lilpip
Rotation back or on towards feb. highs ?
feb monthly
1827
1687
1547
daily close 1759 noted.
Watching weekly high area 1754-59 for direction sis lines up at higher timeframe level also, silvers yearly pivot area 34.50 noted , same question here rotation back ?.
rotation back noted.
this weeks pivot 1708 area.
monthly 1680-1687
more fun with pictures and commentary
http://www.wealthwire.com/news/metals/2617
  • #16,126
  • Feb 5, 2012 5:43am Feb 5, 2012 5:43am
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  • #16,127
  • Feb 5, 2012 7:26am Feb 5, 2012 7:26am
http://e1202.hizliresim.com/u/5/2g7fw.png
  • #16,128
  • Feb 5, 2012 7:34am Feb 5, 2012 7:34am
Quoting Bemac
I expect Demand to rise from Here. Not a Perpetual Bull but Bullish from here.
Test 1,743, 1,750 & 1,763 thereafter.

B

Edit* Add. Will try to get a couple @ 1,722 or so.
coming week will be crucial
now i'm scared of gold after this shitty daily bar
i desperately wants to close my order
hope it respects daily demand and continue move up from 1700
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  • #16,129
  • Edited 10:53am Feb 5, 2012 8:01am | Edited 10:53am
There is something that is intriguing me. I've read that an impulsive wave must be faster than a corrective wave.

Now, it took 18 days to bring price from 1762.90 to 1522.40 and 25 days to get back to 1762.97.

So far, this wave is slower than previous one.

In fact, since September High, bearish waves are faster than bullish waves.

If this is an impulsive wave 1802,70 must be reached and exceeded at or before Feb 17.

Or should I stop comparing waves speeds?
  • #16,130
  • Feb 5, 2012 10:30am Feb 5, 2012 10:30am
Quote
Now, it took 18 days to bring price from 1962.90 to 1522.40 and 25 days to get back to 1962.97.

I maybe wrong but the highest gold ever saw was $1914, right ?
  • #16,131
  • Feb 5, 2012 10:52am Feb 5, 2012 10:52am
It was a double typo. I meant 1762.90 and 1762.97. Dangerous, eh?

Let's Liquidpaper it.

Thanks.

PD Higher price was 1920.70.
  • #16,132
  • Feb 5, 2012 11:06am Feb 5, 2012 11:06am
Quoting jsr
It was a double typo. I meant 1762.90 and 1762.97. Dangerous, eh?

Let's Liquidpaper it.

Thanks.

PD Higher price was 1920.70.

Now, it sounds like an informative post, Thanks, i was wandering about the 18 and 25 days stuff as well, so now it all makes sense
  • #16,133
  • Feb 5, 2012 11:34am Feb 5, 2012 11:34am
Great rules! Thanks for posting, a refresher is always necessary!

Quoting kill56
read with me

i know its the weekend but i did remember those rules, its posted at the grave yard read and pic the ones u feel its will help u with u trading

save this darn thing on u screen and read it every day befor u start trading
10 GOLDEN TRADING RULES FOR SUCCESS IN FUTURES & FOREX TRADING


It is a well known fact that 90 percent of investors lose money in futures and forex trading, 5-7 percent break even and only 3-5 percent make money. Given the high casualty...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,134
  • Feb 5, 2012 11:40am Feb 5, 2012 11:40am
About bearish pullback / "we need to go down"

TA can only help us project future price.

In trading, it is likely that after a breakout of $80 + out of a range of $10
There will be some correction.

This does not mean a full fledged reversal.

Let me remind you, the price has been sliding and we have broken major resistance to the UPside.

Wait for the supports (old resistances) to be tested. Then make a decision.

All I see on the weekly is a candle waiting for the next movement.
A hanging man or some other such name.

This is OVER the current downtrend line which (broken up) on the weekly appears to be tested already.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,135
  • Feb 5, 2012 4:24pm Feb 5, 2012 4:24pm
There seems to be a general belief that the BLS report on Friday was way out of whack and BS. It is an election year after all.

I'm betting we finish up on Monday. Greece has in principal agreed to further austerity measures to secure more bailout money.

http://www.bloomberg.com/news/2012-0...talks-set.html
  • #16,136
  • Feb 5, 2012 5:31pm Feb 5, 2012 5:31pm
Quoting Bemac
I expect Demand to rise from Here. Not a Perpetual Bull but Bullish from here.
Test 1,743, 1,750 & 1,763 thereafter.

B

Edit* Add. Will try to get a couple @ 1,722 or so.
I agree and I have been long since the open today.

scfx
The best indicator is price.
  • #16,137
  • Feb 5, 2012 8:14pm Feb 5, 2012 8:14pm
Hi everyone, have been waiting for a good spot to enter short. Price seems to be finding some resistance at daily pivot. So I have entered a short position from 1,735.20 SL 1,740.50. I have an open target at the moment, I will watch to see where price goes. See chart H1
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  • #16,138
  • Feb 5, 2012 8:25pm Feb 5, 2012 8:25pm
Quoting jaimini
me 2
wanted to close my 2 month old buy @ 1793
Id say going forward you might want to reconsider your mm as there has been some major areas for a rescue of that position.
  • #16,139
  • Feb 5, 2012 9:09pm Feb 5, 2012 9:09pm
I have also switched short after taking profits on my long.

looking for a test of 1725.....

scfx
The best indicator is price.
  • #16,140
  • Feb 5, 2012 9:15pm Feb 5, 2012 9:15pm
$1735 at the moment.

So $1790 first or $1680 ?
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