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-   -   XAU/USD & XAG/USD - Gold & Silver Traders Thread (https://www.metalsmine.com/showthread.php?t=222032)

XTrade May 4, 2010 9:37am | Post# 21

Gold,
 
Gold, coming off a tad from session highs above 1190,
currently trading @ appx 1185, closed these out @ appx 1190 -so we hit 1000 pips; Usually what I strive to catch 10 and 20 $ moves or 500 pip scalps.


Likely, looking to buy again after a little watching. Euro continues to print fresh yearly lows, cable getting crushed. Swissy finally breaks 1.09

Here is the pic/chart, forgot to post my older entry.

We are now above 600 pips which is about - 6 bucks/USD Gold "price" move. Not a bad trade.

USE YOUR DISCRETION. I have taken .1 off the lower entry

__UnknowN__ May 4, 2010 10:02am | Post# 22

silver
 
sigh @ silver dragging gold down again

looks like a repeat of last week. ill be looking to buy some gold next week when silver stops going down

XTrade May 4, 2010 11:23am | Post# 23

DOW, S&P, Commodities IE: Gold / Metals & Oil taking a hit this morning

Currently DOW down 242.75

Certain profit taking on Gold this AM after the 1190 hit.


Fear evident in market sentiments today

Obama discussing financials live also helps PLUNGE MARKETS LOL!!!!

Rumors of Spain needing bailout $$ - Euro / Germany still needs to make decision on Euro aid for Greece. This is the main FEAR factor,
EU uncertainty

VIX rockets

XTrade May 4, 2010 11:46am | Post# 24

Yeah silver took a whack this am.

Watching to see if Euro breaks .30

Looking for entry on Gold, things a bit volatile still.

May get back in above 1175. This will not last.

sigh @ silver dragging gold down again

looks like a repeat of last week. ill be looking to buy some gold next week when silver stops going down

ddinnov May 4, 2010 11:56am | Post# 25

1 Attachment(s)
Yeah silver took a whack this am.

Watching to see if Euro breaks .30

Looking for entry on Gold, things a bit volatile still.

May get back in above 1175. This will not last.
I went long at 1173.5, I have a different feed to most people as my 4H candle closes 1 hour before the US and Europe I think but the current candle that changed 1 hour ago looks like this:

I'm looking to get my stop to B/E ASAP
Click to Enlarge

Name: gold.gif
Size: 16 KB

XTrade May 4, 2010 12:00pm | Post# 26

Yes, Agree with that one (stop to BE).. I am with you on this Took entry as well @ 1175.

London closed now If nothing else I am expecting at least 1180 to 1185

Need to go out for a bit and may add trailing stop as well

I went long at 1173.5, I have a different feed to most people as my 4H candle closes 1 hour before the US and Europe I think but the current candle that changed 1 hour ago looks like this:

I'm looking to get my stop to B/E ASAP

ddinnov May 4, 2010 12:06pm | Post# 27

Yes, Agree with that one (stop to BE).. I am with you on this Took entry as well @ 1175.

London closed now If nothing else I am expecting at least 1180 to 1185
Yes that would be nice - seems to be creeping back up now. Stop is at B/E hope it doesn't get stopped out. haven't checked for news for the rest of the day - I hope we've had enough craziness for 1 day.

Speaking of craziness - someone I follow on Twitter just linked this:

http://kingworldnews.com/kingworldne...Catalyst_.html

XTrade May 4, 2010 12:08pm | Post# 28

Brief commentary quote
 
Quick read
By Jim Wyckoff
04 May 2010, 10:53 a.m.
Profit-taking pressure has hit the gold futures market Tuesday, as some traders decided to ring the cash register after recent solid gains that pushed June futures prices to a fresh five-month high of $1,193.80 early on.

June gold was last traded down $7.00 an ounce at $1,176.20. Sharp gains in the U.S. dollar index are also adding to some selling interest in gold Tuesday. The dollar index hit a fresh 12-month high and the Euro currency hit a fresh 12-month low amid the European Union's debt crisis...

XTrade May 4, 2010 12:42pm | Post# 29

1 Attachment(s)
Things are really shaken up today... This could take more time than I anticipated...

Thinking we may see 1165

Silver looks VERY tempting....
Click to Enlarge

Name: xag_whacked.gif
Size: 29 KB

XTrade May 4, 2010 1:00pm | Post# 30

All and all, we are still inside the upside channel,
coming up on some supports and MA support.

These selloffs have become somewhat typical after steep upmoves,
usually triggered on fundies and profit taking. & General market movements. DOW getting Killed today.
OH and FEAR!

Working on chart

steroidman May 4, 2010 1:20pm | Post# 31

Gold is the worlds best superconductor. Nano colloidal gold which I manufacture(and is the best in the world by a head, shoulder and a torso) has benefits that only the elite of the elite are aware of.

But at the same time, several inventors(including mine) have come up with satellite systems that delineate exactly where water, oil, gold, silver etc.. are. Notice how junior gold companies with billions of dollars sit idly by on old paradigms waiting to be bought out or jved like in recent past, and are avoided and NOT sought after.

There is...
Hope you are all enjoying the gold crash. As predicted. Again, the tell was the junior miners with the one and two million ounce deposits with 43-101's getting nothing from no one( I know that is bad english).

The attendees of the 300,000 US dollar a person gold conference knew this in advance. IMO.

vioilaunch May 4, 2010 1:24pm | Post# 32

I've been following the Commodities and Stocks forum for a while and I'd like to thank you all (esp. Xtrade) for your inspiring posts. For a newbie like me, it's really great to see other data, strategies and fresh news.
Concerning this move down, I think we should stay above 1165 in order to continue attacking 1200. However, with NFP, european debt issues and cartel reacting to getting closer to highs, we will have some stormy waves to ride on..
Steroidman, this not at all a gold crash. You haven't seen anything yet...If Europe's problems continue, China revalues and the US sits on a pile of notes...the world may have to reconsider gold's role in the whole global system.. It is the only real value, and it must be put on its rightful place..

XTrade May 4, 2010 1:26pm | Post# 33

We just hit 1190, (this AM) now there is a dip on market FEAR.

$14 dip is Not much of a crash!

Hope you are all enjoying the gold crash. As predicted. Again, the tell was the junior miners with the one and two million ounce deposits with 43-101's getting nothing from no one( I know that is bad english).

The attendees of the 300,000 US dollar a person gold conference knew this in advance. IMO.

XTrade May 4, 2010 1:34pm | Post# 34

You are welcome, Glad to see you enjoy the thread. Yes I agree with your sentiments. Looks like things are slowed a bit now and about to turn up

I've been following the Commodities and Stocks forum for a while and I'd like to thank you for your inspiring posts. For a newbie like me, it's really great to see other data, strategies and fresh news.
Concerning this move down, I think we should stay above 1165 in order to continue attacking 1200. However, with NFP, european debt issues and cartel reacting to getting closer to highs, we will have some stormy waves to ride on..

ddinnov May 4, 2010 1:53pm | Post# 35

I've been following the Commodities and Stocks forum for a while and I'd like to thank you all (esp. Xtrade) for your inspiring posts. For a newbie like me, it's really great to see other data, strategies and fresh news.
Concerning this move down, I think we should stay above 1165 in order to continue attacking 1200. However, with NFP, european debt issues and cartel reacting to getting closer to highs, we will have some stormy waves to ride on..
Steroidman,...
Don't forget there's the UK general election on Thursday as well

Iiiiit's crazy week!

__UnknowN__ May 4, 2010 5:02pm | Post# 36

There is like 0 chance silver goes up in the next few days but I dont have the balls to short it lol

steroidman May 4, 2010 8:15pm | Post# 37

Still short, although we could see a dead cat.

XTrade May 5, 2010 3:50am | Post# 38

Yeah, Yeah, Just the same as gold has been the LONG trade (1090) from 1110 thru 1145 thru 1190 now there is a short opp.

Welp!/?

That's the market for ya!

My outlooks have been posted on every #Group of this thread. But I will retrieve them and put into post with my next long..

X

XTrade May 5, 2010 3:54am | Post# 39

WHAT we have right now on H! is one side. -- actually the "bearish" side of a forming Cup & Handle.

This will mean,
Sideways with Accumulation,
Breakout, --- Likely Hitting more new highs ---
Selloff,
New support established,
End pattern

XTrade May 5, 2010 3:59am | Post# 40

I will be looking to watch about another 15 minutes more then scooping longs.

The CUP will have a bottom. It is getting placed now @ 1165.

Should we break that the next Solid support is 1145 and Gold is not dropping
another 20 Bucks on EURO markets with..etc.....etc.....Greece......Spain.....credit.........portugal......


Would be looking @ potential OIL / WTI and Brent Crude longs as well ATM


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