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

  • #221
  • Jun 4, 2010 1:27pm Jun 4, 2010 1:27pm
Goin short @ 1217.50
  • #222
  • Jun 4, 2010 3:33pm Jun 4, 2010 3:33pm
Haven't gone short yet, will do so on Sunday/Monday.
  • #223
  • Jun 4, 2010 6:04pm Jun 4, 2010 6:04pm
Thought you were short already?

Also 700$ Gold is "doubtful" in the near future. (I suppose anything can happen though)

In any case that would be a great price to back up the "physical bullion truck"
however expect $100 dollar premiums on 1 oz. so 800 per ozt.

To put in FX terms a $100 Gold move = a 10,000 pip XAU/USD move.
So from 1200 to 700 = 50,000 pips

If you can take and sustain that trade, why not trade futures? I say go for it if you are behind it.

http://www.forexfactory.com/showpost...&postcount=327
Quoting steroidman
Went in pretty hard about a half an hour ago, SHORT. This could be it. Seems everyone is bullish, including the papers, no lineups mind you, but that doesn't matter, they don't have any gold anyways in the banks.

See how it goes this time, hope it doesn't grind me for four days like the last time.
Quoting steroidman
Haven't gone short yet, will do so on Sunday/Monday.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #224
  • Jun 4, 2010 6:07pm Jun 4, 2010 6:07pm
I am hoping to have some analysis up over the weekend.

1200 has proven to be a purely psychological level of support shown in todays action.

1197 looks strong for short term and we had a nice bounce off the line today
Hitting appx 1220.

I wish everyone a great weekend.
XTrade.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #225
  • Jun 4, 2010 7:59pm Jun 4, 2010 7:59pm
Correction nearing an end here...I think one reason gold has not reached new highs this week is because of the strengthening dollar

XAU/EUR and XAU/AUD have reached all time highs once more

I will double my longs on Sunday and hold for the long term barring another move lower.

hf all
  • #226
  • Jun 4, 2010 8:48pm Jun 4, 2010 8:48pm
Hey Bro!
Was cooking up a chart and some commentary and got busy...

XAU/EUR and XAU/GBP will continue to reach highs, the Euro is going to 1.125 if not lower.

Here is a quick chart for weekly/monthly GOLD. We did have a BULLISH close on the monthly which in my view is VERY important to the continuation of the current trend.

WE are in a LONG term bull cycle - . - end of story. If and when we are breached and compromised, you will see that the majority of my trades will be looking for short opps while trading and long opps buying physical.

Now, until then - IT IS CLEAR that on the chart the "LONG" position in
AU/ USD /EUR / GBP / any Fiat currency is the one that PAYS for the buy and hold.

THis is not to say that we cannot have a bearish correction over time - yet even if the weekly channel is broken through market/ time /order change and fundamentals it is going to take a lot to derail this trend and I DO not see it.

I will set my sights for higher gold and buy the dips where the shorts either close, or get squeezed out.

Yet AGAIN, there is a Massive buying interest in India as well as Physical Demand for Gold coins, bars, that awaits.

This trend is supported by multiple moving averages and solid supports.
Do people really think that this is the end of financial turmoil in the world?
PLEASE - do yourself a favor and GET REAL. This is the Beginning - ONLY making Golds yellow glow brighter.
X

Quoting __UnknowN__
Correction nearing an end here...I think one reason gold has not reached new highs this week is because of the strengthening dollar

XAU/EUR and XAU/AUD have reached all time highs once more

I will double my longs on Sunday and hold for the long term barring another move lower.

hf all
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD_weekly_range_intact.GIF Size: 34 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #227
  • Jun 5, 2010 12:10am Jun 5, 2010 12:10am
1228 is minor resistance..if we had passed 1197 yest could hv seen 1178 lvls but there was good buying in india in physical and yeah u r right x trade 1200 is very good psychological lvls,, it was good nice bounce and closing above 1218 is expecting bullishness further in mrk
  • #228
  • Jun 6, 2010 3:39pm Jun 6, 2010 3:39pm
Hello XTrade. I am new here but have been trading gold and silver for a while. this has been a good thread to read. you have put some good work in here. I will try to be a constructive and helpful poster here
  • #229
  • Jun 6, 2010 7:57pm Jun 6, 2010 7:57pm
Welcome,
That's great! (Thank you as well)
Please feel free to share your views here we are not discriminatory.
Long - short, bull bear, etc!

Currently I am working on 2 different strategies for gold one for the bullish view with levels and likewise one for the bearish view with levels.

I will hope to post them tonight or tomorrow.
X

Quoting forexrexfx
Hello XTrade. I am new here but have been trading gold and silver for a while. this has been a good thread to read. you have put some good work in here. I will try to be a constructive and helpful poster here
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #230
  • Edited 8:37pm Jun 6, 2010 8:35pm | Edited 8:37pm
I am looking for a pop to come in gold any minute.

1214 doesn't seem to want to budge. if it does I will look for a retest of 1200 area before a move higher.

The Aussie/USD has moved almost 100 pips south in tonight's opening session.
Euro has painted a fresh new low into the 1.18s and the GBP is bouncing up and down as usual.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #231
  • Jun 7, 2010 8:10am Jun 7, 2010 8:10am
Closing my short now @ 1212

Looks like its gonna go down further, but don't wanna take chances with so much uncertainty around.

Quoting auther
Goin short @ 1217.50
  • #232
  • Jun 7, 2010 9:41am Jun 7, 2010 9:41am
Good exit!!!

Gold just jumped 10 bucks! North that is

currently @ 1226 and looking higher
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #233
  • Jun 7, 2010 10:17am Jun 7, 2010 10:17am
This is now a 2000 pip or $20 breakout.

Keep an eye on it as gold advances as the clear leader in the precious metals sector today
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #234
  • Jun 7, 2010 10:39am Jun 7, 2010 10:39am
Quoting XTrade
This is now a 2000 pip or $20 breakout.

Keep an eye on it as gold advances as the clear leader in the precious metals sector today
Yes, the silver is lagging behind gold today
  • #235
  • Jun 7, 2010 11:53am Jun 7, 2010 11:53am
Yeah, just managed in the nick of time...

Going short again @ 1237...


Quoting XTrade
Good exit!!!

Gold just jumped 10 bucks! North that is

currently @ 1226 and looking higher
  • #236
  • Jun 7, 2010 2:27pm Jun 7, 2010 2:27pm
Quoting auther
Yeah, just managed in the nick of time...

Going short again @ 1237...
yikes
i take it your account has been going through a lot of pain huh?
  • #237
  • Jun 8, 2010 4:51am Jun 8, 2010 4:51am
Hmmm... This one hurt... Stopped out at 1247

Quoting dakoo
yikes
i take it your account has been going through a lot of pain huh?
  • #238
  • Jun 8, 2010 7:47am Jun 8, 2010 7:47am
India gold trade has been witnessing slackness in buying since the start of May as record high prices dented demand.

May imports fell to around 17-18 tonnes from 28.6 tonnes in the same month a year ago.
  • #239
  • Jun 8, 2010 9:46am Jun 8, 2010 9:46am
New record high this AM -

Quoting Jim Wyckoff
Comex gold futures notched another fresh all-time record high early Tuesday, as investors continue to seek out the precious yellow metal as a safe-haven asset amid heightened financial, economic and geopolitical uncertainty. August Comex gold last traded up $6.50 an ounce at $1,247.30 after hitting a new high of $1,254.50 in early trading.

A main bullish feature for gold continues to be traders purchasing the metal with European currencies as a hedge, or even as a speculative play, against further weakening of those European currencies. Bullish technicals are also driving new speculative buying interest in gold. The new all-time high scored Tuesday only added to bullish upside technical momentum.

News reports overnight said the German government announced an 80 billion Euro reduction in its budget. Reports also said protesters have hit the streets in Spain. The Euro currency hit this week has it another fresh four-year low amid the financial crisis in the EU. Gold also has hit a fresh all-time high when priced in Euros.

The U.S. dollar index is near steady Tuesday morning, and this week has hit a fresh 14-month high.

The London A.M. gold fix was $1,248.00 versus the previous P.M. fixing of $1,215.00.
http://www.kitco.com/reports/KitcoNewsJune82010_am.html
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #240
  • Edited 11:24pm Jun 8, 2010 11:23pm | Edited 11:24pm
Nice record today, hopefully squeezing out some unwanted (yet necessary shorts,
however seems they were all long.

In any case the price has come off a bit back to minor support area around
the 1235 level give or take 500 pips for typical asian range.

London killed it this am! Pushing Gold higher! the AM LDN fix came in just below 1250 in the high 40's

I am interested to see the validity of this line around 1235.

If 1200 furthermore 1197 area hold on correction, (although we should be out of correction now with todays PA) I am setting my sights to 1300 and 1350 as next record highs.

If positioning use stops always a few hundred underneath supports with discretion. If scalping, why be afraid to buy at these levels? Hey, sell for that matter, 300 to 500 pips is 3to 5 no matter how you stop it or trailing stop it or slice (close it)!!!!

Good luck everyone,
See ya tomorrow late NY.
X
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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