Technical Templates

[goldtop]

Trading Plan for Silver in the upcoming week, from Tuesday onwards:

Silver is in a bullish trend
My bias will still be looking for longs by waiting for the pullback.
The ideal plan is to wait for Silver to pullback to round numbers like 46.00 to 45.00 to enter.

You certainly received the green light to load up again on the metals this week. In fact it's been a case of nice orderly pullbacks on everything anti-dollar given the continued "bullish-risk" outlook since late last week.

[spotfx]

Gold walking up the garden path & Silver already knockin on the door at current levels.....been quite a ride for you metals speculators the past month huh?
Offers @ 1520 & 40 now beginning to stack up on trips back with reported light buy stops atop those levels....very insipid to say the least.



The buck taking a bit of a breather this week at 76.0, eyeing those 2 prior supply zones at 650 & 750 already priming eur/usd stops on the approach to the 1.40/1.3750 supports.
Should be quite a tussle if the buck can hold it's own this week.

[jjay]

I doubt the Banks recent meeting minutes will offer any assistance when they're released later today. Judging by the soft tone of the latest data the best you can hope for is merely an acknowledgement of (temporary) higher inflation & a confirmation that rates aren't going be lifted any time soon.

If that message is loud & clear at 2.00pm & we get a sniff of elevated risk appetite in the air you can wave bye bye to your 76.50 for a wee while yet Frankie boy!

But as we always say boys & girls....................wait see how the influences impact the sentiment, track the dominant momentum & simply play the pullbacks. It's all in the reading of the tea leaves!

[goldtop]

That's as maybe, but knowing that isn't going to have any affect at all on whether you decide to execute & profit from the short to medium term movement of gold & silver.

At the retail speculative level that you're working from all that's required to put money into your trading account is to quantify whether the risk of betting long or short matches the value of taking on the bet in the first place.

That will be determined by assessing the current market influence affecting the relevant instrument & marrying it up with a technical view.
That analytical combination will be the trigger to either take the bet or stand aside until you're satisfied the odds are more favorable.

That's as deep as it needs to get when you're betting at the retail level.

[Joe Whitehorse]

Rom,
As much as I'm sure most folks appreciate your contributions to the forum, can I request you post content that more accurately reflects the material & general theme of this particular thread.

I'm pretty sure I don't need to point out that this thread is exclusively focused on the presentation, application & execution of a simple, effective trading framework engineered to encourage novices & experienced practitioners alike the opportunity to expand the structure & add their own specific tools to safely navigate around the spot forex market.

If posts aren't directly related to the framework, set ups, triggers & accompanying (current market drivers & influences) entry criteria then they're deemed as off-topic, distracting & irrelevant.

I'm sure if you initiate a fresh thread in the appropriate section of the forum focusing on & encouraging this type of debating participation, then those interested parties will find their way to your discussion topic.

[JimmyMac]

You are more than well aware that the primary function of this thread is to demonstrate & highlight the benefits of constructing & maintaining a simple, uncluttered & efficient technical framework designed to engineer a consistently positive expectancy model by placing long/short bets trading short term directional momentum.

Trouble with most novice (& a good percentage of experienced) traders is they waste their valuable time & energy focusing on information that has very little bearing or immediate impact on achieving that objective.

What benefit or value do you imagine the comments highlighted below offers a novice trader reading this thread seeking some simple, easily assimilated visual assistance in determining whether he/she should consider betting long or short gold/silver during the current London trading shift?

If our money is physical gold, we know what we have, money. If our money is in USD or EUR, well? How much money is that tomorrow?
After a Saudi oilpipe has been blown up?

I have i friend who are millions in cash. Gold is too risky? I think not. Cash is too risky.
New mercantile exchange for gold opened in Hong Kong yesterday ??

I'll tell you shall I?
Nothing.

Instead of trying to appear clever by regurgitating the useless garbage of some product (book) salesman or copy pasting verbal diarrhoea from your usual collection of asshat analysts who couldn't trade their way out of a paper bag if you left the top open, how about posting & demonstrating your personal view, accompanied by a well documented technical chart, showing the potential upside/downside of a particular instrument & the specific reasonings behind your view?

After all, that's what this thread is all about.

[goldtop]

You communicate Combination Strategy should not include fundamentals or intermarket analysis?
From previous page:

All of the comments from previous posts you've just highlighted contained clear statements of intent accompanied by chart examples indicating the necessary information.

Where's your detailed view regarding directional stance, upper/lower potential contact zones, likely area's of conflict, technical chart accompanyment etc etc??

[JimmyMac]

I don't want to disturb this thread.

You're not disturbing the thread, you're simply being asked to transfer your comments re; gold/silver into a clearly defined tradeable opportunity that thread viewers will understand & be able to quantify.

You'll note that 99% of the thread content is pitched at short-term directional momentum.
Comments are virtually always aimed at identifying, qualifying & presenting opportunities that are accompanied by a technical chart explanation that's easily assimilated by viewers & followers of the content.

The majority of observers will undoubtedly be novice or rookie traders. It's helpful to keep things very simple & uncluttered so they can match any fundamental comments & views with a technical slant (including levels/zones/reasonings etc).

I don't understand what happened today, EURUSD down 125 pips, Gold up 20 dollar.
When USD becomes more worth, Gold should fall (in dollar) ...?
Today Gold skyrocketed since price in dollar went up and dollar went up at the same time.

It's been very much a flight to safety today.
Gold, Dollar, Swiss = a safe haven play when events or market psychology is spooked.

Euro is once again being pressured today due to the latest Greek shenanigans.
Greece (further) downgraded to B+ by Fitch means EU/IMF funding is put on hold.
Thin Friday markets + usual end of week profit taking adding to liquidity concerns.

Usually it's simply a fear-knee jerk reaction move which gets equalized over the next few sessions as risk fears become subdued, but it can cause panic & chaos in the meantime!

[whipcrack]

If our money is physical gold, we know what we have, money. If our money is in USD or EUR, well? How much money is that tomorrow? After a Saudi oilpipe has been blown up? The rumours are physical silver is not for sale at todays paper levels.

Gold is too risky? I think not. Cash is too risky. Then the option if putting some cash into gold contracts, and close those contracts when see a "top" in gold.

I've asked this question on another thread, but given the above comments are posted here in a primarily technically dominant discussion thread can I ask what strategy are you currently utilizing to actively trade Gold & Silver Rom?
because it's not actually very clear from your comments what technical (or alternative?) model you're using to consistently trade these contracts.

[Edward Revy]

Hi everyone,
please consider this "gold/silver" issue solved and closed. I hope everyone understands that we want to keep this thread focused on the topic.
Rom, please respect the request from other forum members, thank you!
Should we see any more posts related to the issue, I would have no choice but delete every single comment on page 28.

Thank you & happy trading!
Edward