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

  • #16,681
  • Feb 23, 2012 10:38am Feb 23, 2012 10:38am
dear xtrade.

what is dtl?
  • #16,682
  • Feb 23, 2012 10:38am Feb 23, 2012 10:38am
Why didn't you set an order to buy the dip at 1770 ? You'd be up a
$10 move.

Patience or you will close your trade prematurely at a loss then the market will advance.

Quoting whatfx
Grrr...........! I hate losing.....come on pips
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,683
  • Feb 23, 2012 10:38am Feb 23, 2012 10:38am
double top line?
  • #16,684
  • Feb 23, 2012 10:47am Feb 23, 2012 10:47am
DOWN TREND LINE

---------------

If I look at it on lower TF's it is broken at 35.07
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,685
  • Feb 23, 2012 10:52am Feb 23, 2012 10:52am
i see this on the weekly chart.
thanks.
  • #16,686
  • Feb 23, 2012 11:53am Feb 23, 2012 11:53am
AHA!!!

Now you are learning !!!

Quoting stevebalmmer
i see this on the weekly chart.
thanks.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,687
  • Feb 23, 2012 11:54am Feb 23, 2012 11:54am
Quoting Pommegranate
Silver is headed towards 35.5 today.
I guess I was right 2 hours ago!
  • #16,688
  • Feb 23, 2012 11:55am Feb 23, 2012 11:55am
I really have to say I don't think I have ever seen such an overwhelming amount of chart patterns supporting bullish continuation than at current.

They are on Multiple Time frames. Mostly the Higher.

1. Symmetrical Triangle broken bullish - Weekly
2. Bull Flag - Weekly/Daily - Broken Bullish
3. Inverse H&S - Breaking Bullish NOW. Weekly/Daily
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,689
  • Feb 23, 2012 11:57am Feb 23, 2012 11:57am


The DTL from the last high is now broken and lightly tested.

See below.

Quoting Pommegranate
I guess I was right 2 hours ago!
Price may have advanced from charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAG_line_break weekly close up.GIF Size: 18 KB
Click to Enlarge Name: XAG_line_break weekly.GIF Size: 18 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,690
  • Edited 12:26pm Feb 23, 2012 12:10pm | Edited 12:26pm
I've been watching this downtrend line with great interest. On my charts, however, it's got a little way to go til broken (circa 35.76 if it was to continue straight up). Really in 2 minds whether to TP or be patient and see if it storms through.

Thanks to all regular posters on this thread who are a constant source of great insight and inspiration to a novice / lurker like me. Special thanks to Xtrade for the time and effort you have put in to making this thread such an excellent resource for gold/silver traders.

Edit - okay, whichever way you draw your lines (and looking back, not sure how accurate mine were anyway) it's well and truly broken now. Question is, what's the next target?

Quoting XTrade


The DTL from the last high is now broken and lightly tested.

See below.



Price may have advanced from charts.
  • #16,691
  • Feb 23, 2012 12:14pm Feb 23, 2012 12:14pm
I will also try my best to add some value to this thread, so when the Silver and Gold futures markets will settle today then I will show you guys how I made money today and yesterday.

I've enjoyed this thread a great deal so this will be my payback.

Thanks guys!
  • #16,692
  • Feb 23, 2012 12:15pm Feb 23, 2012 12:15pm
Welcome! Glad to hear it. Please do follow up.
Quoting Pommegranate
I will also try my best to add some value to this thread, so when the Silver and Gold futures markets will settle today then I will show you guys how I made money today and yesterday.

I've enjoyed this thread a great deal so this will be my payback.

Thanks guys!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,693
  • Feb 23, 2012 3:09pm Feb 23, 2012 3:09pm


Needs to take the 50 week SMA topside - then 38 to 38.50
40...

Quoting Laminator
I've been watching this downtrend line with great interest. On my charts, however, it's got a little way to go til broken (circa 35.76 if it was to continue straight up). Really in 2 minds whether to TP or be patient and see if it storms through.

Thanks to all regular posters on this thread who are a constant source of great insight and inspiration to a novice / lurker like me. Special thanks to Xtrade for the time and effort you have put in to making this thread such an excellent resource for gold/silver traders.

Edit - okay, whichever way...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,694
  • Feb 23, 2012 8:22pm Feb 23, 2012 8:22pm
Quote
Like I said Gold can be harder to trade than a single currency pair, it is still a commodity and subject to other market conditions.

For instance - supply and demand - Global market conditions- ie: Greece, US news, Fear, etc. - etc. etc.

Someone else just posted "there is no easy ride or free lunch" That could not be more true when trading PMs.

Especially under volatile headline driven conditions.


What's nice about this weeks move is 3 FOLD.

The Techs are there to support it
The news is supporting the techs
The price is not...



Really appreciate the way you teach us, Thanks.
  • #16,695
  • Feb 23, 2012 9:00pm Feb 23, 2012 9:00pm
testing 1776
  • #16,696
  • Feb 24, 2012 12:49am Feb 24, 2012 12:49am
Well resistance has not been broken inthe first attempt. I have decided to wait now whether price goes below 1772 or attacks d1 resistance again.
  • #16,697
  • Feb 24, 2012 2:58am Feb 24, 2012 2:58am
I have taken a long position at 1780 and i believe the price would be moving up as pivot point has been shifted to 1783 and R1 is at 1792. So can we expect the price to rise till 1792 by today.

Please put forward your analysis and help me out in this.

Regard
Paras
  • #16,698
  • Feb 24, 2012 4:57am Feb 24, 2012 4:57am
Hello all ......
I think it's a correction for the drop and we will see a sharp decline mostly because in the recovery of the euro does not have a need for a safe haven of gold and this is my opinion
Thank you.
  • #16,699
  • Feb 24, 2012 5:38am Feb 24, 2012 5:38am
Quoting ameer.tahoe
Hello all ......
I think it's a correction for the drop and we will see a sharp decline mostly because in the recovery of the euro does not have a need for a safe haven of gold and this is my opinion
Thank you.
on the other hand an increasing euro leads to a weakening of the USD thus increasing spot gold price. Lots of factors...USD is seen as a safe haven as well.
  • #16,700
  • Feb 24, 2012 5:49am Feb 24, 2012 5:49am
Dear fibbonix
I hope that your words be true, but when you see the frame that I see daily the following week will be landing in order to fill the vacuum until I think 1650 and after the price will jump to higher levels
Thank you.
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