XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 193 | Metals Mine

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

  • #3,841
  • Mar 24, 2011 9:58am Mar 24, 2011 9:58am
What is happening to Gold and Silver.. They are trading insanely.... My goodness... Is there any resistance for these two....?
  • #3,842
  • Mar 24, 2011 10:59am Mar 24, 2011 10:59am
Maybe the reason why gold is not moving as quick as silver?

http://traderdannorcini.blogspot.com...hate-gold.html

"Imagine Fed Chairman Ben Bernanke testifying before Congress saying that the current rise in prices of many goods is only "temporary" and "relatively modest" if the gold price were soaring beyond $1650 and higher! Do you think anyone would take anything that the Chairman said seriously? Copper can soar higher and most will not notice it. Even if it does, it is generally explained as a positive because we are told it is a sign of strong economic growth ahead. Crude oil and energy prices can rocket higher and that can be attributed to geopolitical unrest among oil producing nations. Food can rise sharply and everyone notices that but such things are often explained away by citing weather conditions, supply constraints, etc. but a rising gold price? How does one explain that away?"

Manipulation in gold alone?
"The reason I was born and came into the world is to testify to the truth."
  • #3,843
  • Mar 24, 2011 11:29am Mar 24, 2011 11:29am
Quoting highlander2
I will be going long above 1407, today see's a nice pin bar formation off the 50day ema, overall trend is still up. Sl wil be below 1392, yesterdays low.
Closed final 1/3 at 1447, this was a great trade.

Pinbars have been very profitable in gold over the past few months, I dont look at news or at fundamentals what-so-ever, this simple pattern tells me all I want to know

Gold and silver has basically been a turkey shoot for the past few months, enjoy it while it lasts!
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  • #3,844
  • Mar 24, 2011 11:39am Mar 24, 2011 11:39am
More like a Hammer than PinBar.
  • #3,845
  • Mar 24, 2011 11:46am Mar 24, 2011 11:46am
so the question now is do we get the obligatory 60 dollar pull back from a new high? Could this be #6
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  • #3,846
  • Mar 24, 2011 11:57am Mar 24, 2011 11:57am
1 hour evening doji star forming ..
carefull fellows..
good trading
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  • #3,847
  • Mar 24, 2011 12:00pm Mar 24, 2011 12:00pm
Quoting Euroscum
so the question now is do we get the obligatory 60 dollar pull back from a new high? Could this be #6
may probably be ...ı am expecting your red candles.....
  • #3,848
  • Mar 24, 2011 12:17pm Mar 24, 2011 12:17pm
and wedge breached down...
money management is vital....
good luck
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  • #3,849
  • Mar 24, 2011 12:20pm Mar 24, 2011 12:20pm
hi bootleger,
if you are around what are your levels?
thanks
  • #3,850
  • Mar 24, 2011 12:27pm Mar 24, 2011 12:27pm
sorry bootleger ı meant lilpip
  • #3,851
  • Mar 24, 2011 12:51pm Mar 24, 2011 12:51pm
people - as i stated earlier this week, remember it's op ex on Monday. absolutely typical gold behaviour to cream the breakout traders.......

beeb
  • #3,852
  • Mar 24, 2011 12:56pm Mar 24, 2011 12:56pm
Now what was this.. Took a short position of 5 ounce on gold at 1446, SL 1450 and TP 1436.. Just went away for an hour or so to watch the India Australia match,, and now it it is trading at 1433... Wish i had not set the TP limit.... lolzzz....
  • #3,853
  • Mar 24, 2011 1:18pm Mar 24, 2011 1:18pm
Quoting Pratik
Now what was this.. Took a short position of 5 ounce on gold at 1446, SL 1450 and TP 1436.. Just went away for an hour or so to watch the India Australia match,, and now it it is trading at 1433... Wish i had not set the TP limit.... lolzzz....
Congrats! You made $50, that's the most important. It's a nice luxury to miss profit, the important thing is to have something in your pocket.

I made even "worse": I closed MANUALLY my shorts (28 oz) from 1446 at 1441 . EUR 100 profit, EUR 200 missed. Whatever... now I'm long from 1431 . I love such days with big moves, it's a scalper's paradise!


@beeb: what's this "op ex"? google didn't help me at this one...
"The reason I was born and came into the world is to testify to the truth."
  • #3,854
  • Mar 24, 2011 1:39pm Mar 24, 2011 1:39pm
Quoting harvest3r
Congrats! You made $50, that's the most important. It's a nice luxury to miss profit, the important thing is to have something in your pocket.

I made even "worse": I closed MANUALLY my shorts (28 oz) from 1446 at 1441 . EUR 100 profit, EUR 200 missed. Whatever... now I'm long from 1431 . I love such days with big moves, it's a scalper's paradise!


@beeb: what's this "op ex"? google didn't help me at this one...
Thanx mate... BTW any specific reason for such a sudden and steep fall....?
  • #3,855
  • Mar 24, 2011 2:03pm Mar 24, 2011 2:03pm
Quoting Pratik
Thanx mate... BTW any specific reason for such a sudden and steep fall....?
It is called profit taking New high, good time to cash in.
  • #3,856
  • Mar 24, 2011 2:05pm Mar 24, 2011 2:05pm
I dont understand why gold move down so quickly like that. I have the long position at 4500. God blesses me!
  • #3,857
  • Mar 24, 2011 2:16pm Mar 24, 2011 2:16pm
Quoting quyenpt84
I dont understand why gold move down so quickly like that. I have the long position at 4500. God blesses me!
You're not supposed to buy the top, unless you like the mother of all drawdowns.
  • #3,858
  • Mar 24, 2011 2:32pm Mar 24, 2011 2:32pm
Quoting harvest3r
..........
@beeb: what's this "op ex"? google didn't help me at this one...
I'll answer for beeb - Options expiration.
  • #3,859
  • Mar 24, 2011 2:40pm Mar 24, 2011 2:40pm
Quoting SunTrader
I'll answer for beeb - Options expiration.
Hi, what's the effect of op ex for the pairs ?
  • #3,860
  • Edited 7:14pm Mar 24, 2011 3:10pm | Edited 7:14pm
Quoting bLiTzCaT
Hi, what's the effect of op ex for the pairs ?
look at your screen.....

seriously, call options sellers do not want buyers to exercise - they ensure this by taking the metals down.....all part of the great metals conspiracy

beeb

ps should also mention (thought it was obvious, but on reflection maybe not) that rollover to a new futures month, particularly at end of quarter, means that a number of institutions will be selling their longs to book profits.....
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