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

bearish pennant in daily on XAG??

Here are two potential scenarios that could occur on 1-Hour Gold chart:

Scenario A: We expect the downtrend to continue towards 1430.00 which is the Classical AB=CD reversal Zone as illustrated.
Scenario B: Trend may find support at 61.8%,78.6% or 88.6% Fibonacci retracement as this could considered as a potential trend reversal toward the Gartley Reversal Zone.

1- Hour Gold chart: http://cmanalyst.com/wp-content/uplo...13/05/Gold.jpg

Why go with the pack, break out of the mold.

Call it what it really is - potentially CD = AB and not the other way around.

If you have a top and then another equal top, the 2nd top confirms and is the double top, not the 1st.

Also Elliott Wave Theory Wave 3 = 1 or wave 5 = 1 or wave 3, not the other way around.

Priority is always on the right hand side (most recent data) of the chart.

quote=SunTrader;6666313]{quote} Just so you know Robert Miner's count is different. Don't have time atm to post a chart.[/quote]

so i am very hapy if you have time for post a chart.. tanks

dıd you see 50 agaın, ok no thanks no 50...bye...

so i am very hapy if you have time for post a chart.. tanks
[/quote]
Here is my EW count. There are questions with it though that more daily bars might bring clarity. In lastest update from R Miner he just labels most recent swings 1,2 & 3 and with probable 4 completed this past week:

gold 13 may

fantastic risk reward right now to buy gold intraday. Three major supports is below.

Trading against the trend almost never is a fantastic risk/reward situation.

Maybe you can be a little more specific because there are always support (and resistance) levels present?

And most are meaningless without other confirming factors - time, momentum and pattern.

It might be a good opportunity to go long :

Can Gold drop to $800

What will be the highest price for gold you guys think?

"Can Gold drop to $800"

Why not?

+ + +

"What will be the highest price for gold you guys think?"

When?

Well, news came out. USA will not allow anybody to trade gold with Iran. Why they care about this worthless metal? Restrictions come in middle of summer. So price I guess is supressed also. But don't panic, cost of 1oz to take out of a ground is about 1300 dolars. 800? Can be, but only in case great depression

This was said when price came back below 1900 and then 1800 and then ........

it hit 1322.

If it stays above that level then no panic. If not woooo baby.

Anyone notice that Silver might have made a double bottom today?

Think it might be short-lived though.

A question open to anybody:

What risk:reward ratio do you recommend for XAG/USD at present, and why?

I'm trying to establish a money management system for trading this pair. Thanks.

Where the ultrabull traders?...why runaway.....

May be of interest to Gold Traders:

http://www.thetrader.se/2012/11/30/g...traday-charts/

It is truly surprising the price of Aluminum is not higher than Gold with all the folks wearing "manipulation" tinfoil hats.