Hi All
Was wondering if daytraders here that are experienced with Gold and silver.
Am contemplating to start trading with the Gold and silver:
Any advise at all?
Any good strategies or indicators?
what the the Gold and Silver trading “rules”
Cheers
There may be several experts to trade Gold & Silver probably you can find on babypips. Well I don’t know about them and there is a one thread which I follow everyday started by Chris Capre for price action trading. He normally provides his analysis on Gold/Silver and other pairs with technical charts. Please have a look. Hope you can clarify doubts with him if any.
http://forums.babypips.com/newbie-island/45414-understanding-price-action-chris-capre-65.html
I am not an expert however; I keep trading in gold and silver. I just follow the current value and the upcoming chances of getting the price down or up. I mostly buy when the price goes down and keep it till it gets too high.
All technical analysis used in currencies can be used on Gold and Silver. Watch out for news though as news effects Gold alot.
As it was mentioned in the previous technical analysis of Silver dated 2014.03.13, according to the formed signs, there was a potential for ascending of price which finally happened. Buyers were successful in reaching to the highest price of 21.769 and after that the price has started to decrease.Currently price in Weekly , daily and h4 time frames is under 5-day moving average that shows descending of price during the net candles.As it is obvious in the picture below, there is an AB=CD harmonic pattern between the top price of 22.149 and the bottom price of 20.088 with ideal ratios of 76.4 to 127.2 that warns about descending of price from the D point of this pattern.
RSI indicator is in saturation sell area follows the bottom price of 20.088 and warns the possibility of ascend during the next candles.One of the important signs for descending is breaking of Down Trend line (made of 2 top prices). Given the current situation of price, the best confirmations for ascending and reformation of price is closing of bullish candle in Daily time frame and being of price above 5-day moving average in H4 time frame.
Silver had a strong and without reformation descending trend during the recent weeks and could record the bottom price of 16.665.Right now this price level is one of the important supportive levels in front of the price. According to the recent strong descending, price is in saturation sell area and there is the potential for ascending and price reformation.
According to the formed movements in the price chart, between the top price of 22.160 and the bottom price of 16.665 there is an none-ideal AB=CD harmonic pattern with the ratios of 78.6 and 161.8 that warns about changing price direction and price reformation. RSI indicator is in saturation sell area and confirms the D point of this pattern by the next cycle and warns about the potential of ascending of the price during the next days.Generally until the price level of 16.665 is preserved, the price has the potential for ascending and reformation.
[B]Technical Analysis of Silver dated 2014.10.08 [/B]
I trade gold and silver in order to diversify my portfolio plus they offer great trading opportunities. As far as indicators and strategies that is something you need to figure out.
Wow, ok. Just saw that this was a post from 2013…just ignore my response!
Hi there,
I’m not an expert in Gold trading, but i use this indicator to forecast the trend of EU and Gold. it’s free and no repaint. Check it out.
Cheers,
Silver was in a strong and consistent descending trend during the recent month that sellers during this descending trend were successful in achieving the lowest price level of 15.042.In weekly time frame the previous week candle was closed as a Hammer candlestick pattern that shows the indecision for ascending or descending. If this pattern confirms, there will be the potential for changing price direction.
According to the formed movements in the chart, there is AB=CD harmonic pattern with ideal ratios of 50 and 200 between top price of 25.087 and the bottom price of 15.042 that warns about changing price direction from the D point(Morning Star Candlestick Pattern) of this pattern.RSI indicator in daily time frame is in saturation sell area and also it is in divergence mode with the price chart that warns the potential for ascending of the price during the next candles. Generally until the price level of 15.042 is preserved, the price has the potential for ascending and reformation.
