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

  • #33,481
  • Apr 14, 2014 11:13pm Apr 14, 2014 11:13pm
will see PA at the TL to go long
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A trade should be based on an assumption based on facts
  • #33,482
  • Apr 14, 2014 11:30pm Apr 14, 2014 11:30pm
gold is in range action now. Bulls will be in control if they push daily close above 1340. Likewise, bears will take over, if the D1 close
below 1295-1300. Currently sideways action.
  • #33,483
  • Apr 14, 2014 11:38pm Apr 14, 2014 11:38pm
Quoting ruffryders
gold is in range action now. Bulls will be in control if they push daily close above 1340. Likewise, bears will take over, if the D1 close below 1295-1300. Currently sideways action.
we're due for a test of 1340 to confirm the resistance/ bear strength?
A trade should be based on an assumption based on facts
  • #33,484
  • Apr 14, 2014 11:51pm Apr 14, 2014 11:51pm
Quoting Mave
{quote} we're due for a test of 1340 to confirm the resistance/ bear strength?
it could be both ways. However, I don't see much of a sell off on gold due to tensions mounting UKR/RUS.
  • #33,485
  • Apr 15, 2014 12:03am Apr 15, 2014 12:03am
Quoting ruffryders
{quote} it could be both ways. However, I don't see much of a sell off on gold due to tensions mounting UKR/RUS.
This has reversed or back to the mid term trend for me. It reversed the same way from 1392. Bad enough that couldn't catch. Good part - levels are defined, enough room to trade. All the best.
A trade should be based on an assumption based on facts
  • #33,486
  • Apr 15, 2014 3:41am Apr 15, 2014 3:41am
Quoting Mave
{quote} This has reversed or back to the mid term trend for me. It reversed the same way from 1392. Bad enough that couldn't catch. Good part - levels are defined, enough room to trade. All the best.
I won't touch gold, until in D1 close full body candle above 1340. Until then Gold is in unchartered territory, still pretty much controlled/manipulated by the bears.
The bear push is already fading, but apparenetly the bears are not done yet with gold.
  • #33,487
  • Apr 15, 2014 3:52am Apr 15, 2014 3:52am
It looks as if peace has been declared

Return to 1284 or deeper correction
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  • #33,488
  • Apr 15, 2014 4:00am Apr 15, 2014 4:00am
Quoting ruffryders
{quote} I won't touch gold, until in D1 close full body candle above 1340. Until then Gold is in unchartered territory, still pretty much controlled/manipulated by the bears. The bear push is already fading, but apparenetly the bears are not done yet with gold.
This thing is clearly manipulated. the 15M drop from ~1360 in june last year to the 1M drop in dec. bears are in control for sure and the way it has reversed from 1330.91(on my chart) , i'd be interested at the PA when it reaches 1260.xx
also its the delivery month, so ti won't be wrong to expect that price soon. also the manipulators don't play that dirty, just look at the H4 H1 MACD.. its fun !
A trade should be based on an assumption based on facts
  • #33,489
  • Apr 15, 2014 4:11am Apr 15, 2014 4:11am
Ascending the trend line breakdown coupled with a cross over of 40-day EMA to 20-day EMA caused Gold prices to test $1302 level. Horizontal line support near $1301.50 becomes important for the yellow, breaking which it can test $1296. However, a sharp fall in MACD blue line signals a mild reversal towards $1310 again.
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  • #33,490
  • Apr 15, 2014 4:29am Apr 15, 2014 4:29am
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Strong SUPPORT at 1305.73/1301.176
Fibo 23.6.
waiting for BULLISH trail back
#15946e
  • #33,491
  • Apr 15, 2014 4:34am Apr 15, 2014 4:34am
any idea which NEWS effects GOLD price most? and fundamentals?
#15946e
  • #33,492
  • Edited 4:58am Apr 15, 2014 4:48am | Edited 4:58am
Quoting hms_galaxy
{image} Strong SUPPORT at 1305.73/1301.176 Fibo 23.6. waiting for BULLISH trail back
a reaction/such a drop from 38.2 generally indicates continuation of the existing trend.
1302.85 (bearish belt hold line candlestick on M15, if i have the name right, pure demand) should be watched for a further move down.

last 2 weeks reminds me of XT when he said, gold doesn't care about trendlines and will pass through them like knife through butter. i'm not sure about the later part.
A trade should be based on an assumption based on facts
  • #33,493
  • Apr 15, 2014 5:39am Apr 15, 2014 5:39am
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  • #33,494
  • Apr 15, 2014 5:49am Apr 15, 2014 5:49am
manipulation will have to end at some stage. http://finance.yahoo.com/news/chines...041137552.html
  • #33,495
  • Apr 15, 2014 6:11am Apr 15, 2014 6:11am
Quoting Mave
{quote} a reaction/such a drop from 38.2 generally indicates continuation of the existing trend. 1302.85 (bearish belt hold line candlestick on M15, if i have the name right, pure demand) should be watched for a further move down. last 2 weeks reminds me of XT when he said, gold doesn't care about trendlines and will pass through them like knife through butter. i'm not sure about the later part.
well done
#15946e
  • #33,496
  • Apr 15, 2014 6:13am Apr 15, 2014 6:13am
Quoting ruffryders
gold is in range action now. Bulls will be in control if they push daily close above 1340. Likewise, bears will take over, if the D1 close below 1295-1300. Currently sideways action.
as noted previously, today's close will be important. I'd prefer to see gold pullback into the range to support further upside. If we close strong below 1295 the bears will take over this place.
  • #33,497
  • Apr 15, 2014 6:16am Apr 15, 2014 6:16am
Quoting ruffryders
manipulation will have to end at some stage. http://finance.yahoo.com/news/chines...041137552.html
This is how FX and commodity market runs. ever heard of WallStreet, FXCM market manipulation? I guess U r older than ur trading age only
#15946e
  • #33,498
  • Apr 15, 2014 6:18am Apr 15, 2014 6:18am
Overall, feels like profit taking and derisking before release of chinese data on Wednesday. If D1 closes below 1295 can go for 1250.
  • #33,499
  • Edited 6:57am Apr 15, 2014 6:47am | Edited 6:57am
This should serve as a reminder to look left and look close. Won't get fooled again

EDIT - in the meantime we're in the NFP day range.
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A trade should be based on an assumption based on facts
  • #33,500
  • Apr 15, 2014 1:43pm Apr 15, 2014 1:43pm
some trader sold 64 mt of gold today on spot market, causing this sell off. However, the tone still remaind bearish, gold was booted from recent highs and failed to keep above 1325. Trading at 1300, however daily losses extended as far as 1286.

Once 1270-75 is taken out, further move down towards 1190-1200 is expected.

This is also supported by weak price action on Platinum, currentry trading @ 1438, however with CNY news overnights, could extend losses to 1415-20 area initially, if this won't hold the price, Platinum can crack more downside and target 1320-1340 area. Price action is also very weak, price structure on Platinum vulnereable to bear pressure currently.

GL, take care!
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