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

  • #16,341
  • Feb 13, 2012 7:18am Feb 13, 2012 7:18am
start your first channel upside at 10 19 2008 if you want to be technically correct
Quoting jsr
A chart with the info.

"Forgot" to mention possible descending channel. lol.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,342
  • Feb 13, 2012 8:45am Feb 13, 2012 8:45am
Weekly chart, right? Done.

XTrade, i'm reading about speed lines. Thanks.

lilpip, thanks, I'll check it.

Since friday I was checking swing points before and after 1762.97 SH.

I've been taught that trend is shifting when Swing Low that led to HH (or SH that led to LL) is broken and there is price acceptance.

Others use the 123 pattern approach. Similar, not equal.

Using the first approach, these are Swing Lows previuos to HH that have not been tested:

(Assuming swing lows as TD points level 1)

1756,40m15
1756,40m30
1756,40H1
1754,83H4

If TD Points level 2 required:
1756,40level 8m15
1756,40level 4m30
1754,83level 7H1

So since price has many days below 1754,83 and 1756,40, I assume there is price acceptance.

Now I'll add your suggestions to tune my analysis process.

btw, I read once that Demark draws trendlines from right to left, giving more importance to most recent data. I use that approach. Any comments on that?
  • #16,343
  • Feb 13, 2012 10:13am Feb 13, 2012 10:13am
Quoting jsr
.......
btw, I read once that Demark draws trendlines from right to left, giving more importance to most recent data. I use that approach. Any comments on that?
That is only way that makes sense, to determine current trend and how it applies currently looking at most recent data points.

I never understand how someone who might be trading on a 1 minute or 5 minute chart talks about the monthly trend and using a monthly chart going back a decade or more.

BTW DeMark is Da man. I use many of his techniques.
  • #16,344
  • Feb 13, 2012 10:23am Feb 13, 2012 10:23am
Ok, technically how low can we go ?

W
  • #16,345
  • Feb 13, 2012 2:06pm Feb 13, 2012 2:06pm
Quoting Walt
Ok, technically how low can we go ?

W

Somebody said 1650, but its been long, what a lazy day, the graph has moved forward, maybe 1670 now?

I personally don't see it falling, but if it has to go down to go up then what are they waiting for?
  • #16,346
  • Feb 13, 2012 8:14pm Feb 13, 2012 8:14pm
1650 is only the number of the breakout of the symm t.

Thus, would be a retest point . There is no guarantee and personally I wouldn't
count on it, if you are short.

Better off buying dips. In my opinion.

There are probably resting buy stops just below the midline. See blue.

Quoting forexfacts
Somebody said 1650, but its been long, what a lazy day, the graph has moved forward, maybe 1670 now?

I personally don't see it falling, but if it has to go down to go up then what are they waiting for?
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,347
  • Feb 13, 2012 8:20pm Feb 13, 2012 8:20pm
nice post lp
Quoting lilpip
I guess I got hung up on the words gold is in a bear market and not your intent.
Although Im not convinced it is a bear market till were on the south side of 1600 I myself thru some shorts on in that area 1754-62 and 34.50 area and as posted earlier that I would hold till proven wrong.

swing h/l is simple as your abc.
look at your 5 min. whats h/l ? your 3 5 min whats h/l? whats h/l on your next 3or 4 15 15min? 4hr. etc., name your timeframe.
whats 15 min trend ? 1hr?, 4hr? daily?,weekly? monthly ?,quarterly?yearly?
Just as you look at the...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,348
  • Feb 13, 2012 8:48pm Feb 13, 2012 8:48pm
Quoting XTrade
on the second coin the Mexican Libertad if you catch a low mintage year the retail value can go into the 100s+
http://www.apmex.com/Resources/Catal.../65202_Obv.jpghttp://www.apmex.com/Resources/Catal.../59040_Obv.jpg
thanks for the heads up will look into and keep eyes open.
  • #16,349
  • Feb 13, 2012 10:00pm Feb 13, 2012 10:00pm
Quoting SunTrader
I never understand how someone who might be trading on a 1 minute or 5 minute chart talks about the monthly trend and using a monthly chart going back a decade or more.
BTW DeMark is Da man. I use many of his techniques.
myself, I cant speak for those researching back decades however their is a niche for those that do.
for me Ill consider up to the past 3 years trends and at those significant levels be it highs, lows or middle, doing so one would know where we are at whithin the major trend.
After considering the primary trend one would then also consider the current data of how the lesser trends of the weekly and daily support or resistance and how they are lining up with the stronger 3 year trends s/r .
one would throw the 5 min. on for direction out of thse major support or resistance price level using the daily levels which line up with weekly which line up with yearly or 3 year price levels.
to sum it up in a few words is that it helps to be aware of knowing where one is standing as they are in the cycles within cycles and for some it starts with the 5 min.

Ill have to look up demarc.
  • #16,350
  • Feb 13, 2012 10:22pm Feb 13, 2012 10:22pm
Quoting lilpip
myself, I cant speak for those ........

Ill have to look up demarc.
But when trading extreme short term, as I said 1 and 5 minute charts, it is meaningless what happened months ago. Total BS.

Now if someone is entering on a 1 or 5 minute chart for a move that might last days or weeks then ok a long term monthly chart makes sense.

Also Tom DeMark (with a k).
  • #16,351
  • Feb 13, 2012 10:46pm Feb 13, 2012 10:46pm
Quoting SunTrader
But when trading extreme short term, as I said 1 and 5 minute charts, it is meaningless what happened months ago. Total BS.

Now if someone is entering on a 1 or 5 minute chart for a move that might last days or weeks then ok a long term monthly chart makes sense.

Also Tom DeMark (with a k).
thats a 10-4 on meaningless
found demark
  • #16,352
  • Feb 13, 2012 10:53pm Feb 13, 2012 10:53pm
fun at the movies
Inserted Video

Inserted Video
  • #16,353
  • Feb 13, 2012 11:24pm Feb 13, 2012 11:24pm
I have a bad foot injury trade well.
night.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,354
  • Edited 2:15am Feb 14, 2012 12:40am | Edited 2:15am
Shorted at 1726.00

Shorted again at 1719 on the spike
  • #16,355
  • Feb 14, 2012 5:18am Feb 14, 2012 5:18am
Quoting HotBiscuits
Shorted at 1726.00

Shorted again at 1719 on the spike
whats' your target and SL level?
I have no enemy; I make Incautiousness my Enemy.
  • #16,356
  • Feb 14, 2012 5:19am Feb 14, 2012 5:19am
Quoting XTrade
I have a bad foot injury trade well.
night.
get well soon!
I have no enemy; I make Incautiousness my Enemy.
  • #16,357
  • Feb 14, 2012 5:26am Feb 14, 2012 5:26am
Quoting lilpip
myself, I cant speak for those researching back decades however their is a niche for those that do.
for me Ill consider up to the past 3 years trends and at those significant levels be it highs, lows or middle, doing so one would know where we are at whithin the major trend.
After considering the primary trend one would then also consider the current data of how the lesser trends of the weekly and daily support or resistance and how they are lining up with the stronger 3 year trends s/r .
one would throw the 5 min. on for direction out of...
Hi lilpip. I've been trying to understand, but it is still a puzzle for me. Can you give me a link for a detailed way to apply your system for direction?

Thanks in advance.
  • #16,358
  • Feb 14, 2012 5:32am Feb 14, 2012 5:32am
Quoting XTrade
I have a bad foot injury trade well.
night.
I'm sorry to hear that. Get well soon.
  • #16,359
  • Feb 14, 2012 5:51am Feb 14, 2012 5:51am
bot @ 1718, stop = 1712, tgt = 1736

Playing the falling wedge game on 30min chart
  • #16,360
  • Feb 14, 2012 6:08am Feb 14, 2012 6:08am
Since sunday i have a pending entry order (sell) @ 1736 SL @ 1741 TP @ 1716. I think i'll remove it. I was some 3$ move to get triggered.

1733 seems to be now a pivot point. At least, it became a resistance.

In my charts there is no recent visit to 1726 zone. (FXCM)

I had another entry order @ 1723.46, and today's high is @ 1722.40. I removed this, since I'm awake now. lol.
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