I just checked the timing of the record high for silver. I came a few days after the record high for gold. So maybe there is a dealy - in which case there will be a further rise in silver and it would be prudent to wait before shorting it.

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

This might well be a good call. I am just uncertain this is the top - gold is breaking records but silver spiked up to $19.81 when gold hit the record before - we haven't even got near there yet.

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

Price progression has a reasonable attempt at fibs. The swing low to swing high is almost at 127% It is Friday and there has been a really good push so profit taking will happen. A lot of the institutional traders will push like hell to reach a ...

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

Yeap it popped 1260. That is decisively higher. I think "they" are losing their grip on gold and the market has got its way. So much for China's public stance on gold! If it follows the push up like at the end of the May it could make 1280 with ...

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

Looking at the 5M chart there have been sells just under 1260, my guess is this is profit taking. If price drifts then many will want to lock in profit they have made in this push to the new all time high and price will come down but there is ...

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

Hmmmm Well after a brief fall back from the highs yesterday, gold stayed at the top of our triangle not being beaten back by more than a few dollars. Not much profit taking there. Then pop straight through the top of the triangle. So as seemed ...

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

For me the methods used by J16 are not about trying to predict every move of a pair. You will be wrong as often as right. The point is to find signs on the charts which will predict a move which can be exploited for profit. Identify trouble areas in ...

james16 Chart Thread

For me there are two maybe three trend lines. First is one right back from 2005 which sits at 1020 at the present time Second one from the big dip in gold in October 2009 - this is at 1145 level now Lastly a more recent one from Feb./March 2010. ...

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

No this will not be the top for the year unless it is 31st December on your calendar.

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

I don't have an open position right now. What I would like to do is stick a small sum on at a nice low in the trend and ride with it, topping up as the profit accrues. This trend is not going to go away. Gold and silver will explode, especially ...

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

I have lived in many places and used to think when things were bad it was the place. It never was the place, it was always me. My state of mind was usually to do with women - and things not going right. Then the place would seem bad. If I came ...

james16 Chart Thread

Well the gold price almost smacked its head on the highest ever price this afternoon in the UK. From the chart with the ascending triangle on, it was getting tighter and tighter in that wedge. It popped up today - we had expected this to happen in ...

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

The trend is up. The trend is up. There is a way to play without touching and that is to accept large draw downs. You know the trend is up and has been up since 2001. There is every reason for the trend to continue. You would need to scale down your ...

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

Happy 5th Birthday to the trend — Plenty of candles for the 5th anniversary.

james16 Chart Thread

What you should have is a proforma for trades. On this you put the usual stuff, the pair, the date blah blah. The pairs range and any characteristics you know of that are important. Then what it is on the chart that is making you think about the ...

james16 Chart Thread

I can get gold at a little bit above spot price it is the silver I have a problem with as the price of bars/coins is several dollars above spot. I am looking for the lowest price source. I guess you could go for scrap silver but then you can't be so ...

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

XTrade I agree buy a coin a week, a coin a month, and your silver nest will gradually grow. What you describe is price averaging. If you invested your silver money all at once you might get a nice low price, but you might get a higher price, it is ...

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

That gold is making my mouth water.

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

Thank god it wasn't a silver bullet ghous - now that would be serious! LOL. But truly some of these smaller markets get cornered by a few, which is why forex is so open - it is too big to tamper with for more than a few minutes.

james16 Chart Thread

Nice one mate! We all need a break or you get stale and make dumb decision and lose the profit you made. I am short on silver at the mo - up £14 - now £20 - now £10 LOL

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