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

  • #241
  • Jun 9, 2010 12:56am Jun 9, 2010 12:56am
Hi all. I was stopped out earlier on a TStop @ 1247.

I am going to test this level of validity 1235 and I am long from 1236
tp 1 @ 1245
tp 2 open

tight stop below 1230 and buy limits set
nite
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #242
  • Jun 9, 2010 12:59am Jun 9, 2010 12:59am
clearly asia has no interest in selling gold and LDN will tell the tale.

even if I am stopped put I am looking for the next high to be around 1275

next 1300 with possible dip between.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #243
  • Jun 9, 2010 1:08am Jun 9, 2010 1:08am
1228 is support and think we need to see 1260
  • #244
  • Jun 9, 2010 1:35am Jun 9, 2010 1:35am
buy limit @ 1224.40
Many choose unhappiness over uncertainty.
  • #245
  • Jun 9, 2010 10:22am Jun 9, 2010 10:22am
Quoting auther
Hmmm... This one hurt... Stopped out at 1247
If only i had kept a higher stop loss i'd be making good profit now Idea was right , timing was wrong
  • #246
  • Jun 9, 2010 5:45pm Jun 9, 2010 5:45pm
This was a good trade, I took it as well.

Let the other one stop out for small loss, made back positive here a nice 1000 pip move. I just took profit - looking for a dip and waiting for asia to come on line.

Quoting Dan Gilbert
buy limit @ 1224.40
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #247
  • Edited 7:23pm Jun 9, 2010 6:40pm | Edited 7:23pm
In again on dip

Long @ 1231.

Let's see what kind of action we get tonight.

may just look for some scalps depending on PA

So far market seems very tame.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #248
  • Jun 9, 2010 7:31pm Jun 9, 2010 7:31pm
Quoting XTrade
This was a good trade, I took it as well.

Let the other one stop out for small loss, made back positive here a nice 1000 pip move. I just took profit - looking for a dip and waiting for asia to come on line.
.
Many choose unhappiness over uncertainty.
  • #249
  • Edited 8:03pm Jun 9, 2010 7:42pm | Edited 8:03pm
For tonight, I would like to see 1235 taken in the immediate sense,
otherwise in a bearish scenario, breach and hold on 1229 area and 1224 area may suggest correction from recent high first testing 1221 and possible 1209.

We had a nice afternoon uptrend going, then after market switch the minor tl was passed through. May be best to sit out at the moment Until things heat up a bit.

That is if not in a position already in profit.

* edit: closed last position almost at BE looking for better entry. ( Have to run out for a minute) Looks like we are going down a bit.

I expect buyers to re-enter on supports. Use your discretion.

Going to read some news.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #250
  • Edited 9:14pm Jun 9, 2010 9:12pm | Edited 9:14pm
Gold testing the current corrective line, breach here (rightback around 1231.50) should suggest further upmove, however 1235 is still necessary to take out in the immediate.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #251
  • Jun 9, 2010 9:24pm Jun 9, 2010 9:24pm
Quoting XTrade
For tonight, I would like to see 1235 taken in the immediate sense,
otherwise in a bearish scenario, breach and hold on 1229 area and 1224 area may suggest correction from recent high first testing 1221 and possible 1209.

We had a nice afternoon uptrend going, then after market switch the minor tl was passed through. May be best to sit out at the moment Until things heat up a bit.

That is if not in a position already in profit.

* edit: closed last position almost at BE looking for better entry. ( Have to run out for a minute) Looks like we...

Gold regained some footing on Thursday after falling the previous day on comments by Federal Reserve Chairman Ben Bernanke that the metal was sending a different signal in response to inflation.
  • #252
  • Edited 10:05pm Jun 9, 2010 9:34pm | Edited 10:05pm
Here we Go!!!

Posting experimental chart in a minute in this post please refresh to view

Edit:

Chart attached. Just some experimental TA I was playing with earlier.
Since the last high gold has been correcting off the red line, yet from the last dip to 1197 area there are supports as well as this afternoon's bounce to help form the lower tl.

All drawn on H1. Please keep in mind this is shorter term TA for price action analysis. (not daily / weekly)

These lines formed a somewhat symmetrical triangle, with the break candle forming outside the downtrend line. There is a possibility of retest of said line. If the retest is does not allow breach I will consider this a valid break and look to take 1235 next.

Asia can be tricky, where potential breaks often turn into range.
Attached Image (click to enlarge)
Click to Enlarge Name: XAU_m30_6_09_triangle.GIF Size: 41 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #253
  • Jun 9, 2010 10:41pm Jun 9, 2010 10:41pm
Long AUD.

Seems northbound movements on Cable - EUR/USD - Aussie - Southbound swissy have taken some capital out of Gold.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #254
  • Jun 10, 2010 7:26am Jun 10, 2010 7:26am
Wanting to short @ 1228


Limit details:
Amount (XAU) 10.00
Reserved until 17/06/2010
Amount to risk (USD) 50.00
Buy currency USD
Sell currency XAU
Deal rate 1228.00
STOP LOSS rate 1233.00
  • #255
  • Jun 10, 2010 7:33am Jun 10, 2010 7:33am
I am going long in GOLD ........... at mcx 18720-18750
  • #256
  • Jun 10, 2010 8:07am Jun 10, 2010 8:07am
Quoting auther
Amount (XAU) 10.00
Amount to risk (USD) 50.00
Hi, Auther, I am curious what is the leverage you are using? I don't know about you guys, but for me as a rookie (just 8 months experience) I can't play this game with more than 1:30.. I am on real account not demo..Cheers to all!
  • #257
  • Jun 10, 2010 8:37am Jun 10, 2010 8:37am
Quoting vioilaunch
Hi, Auther, I am curious what is the leverage you are using? I don't know about you guys, but for me as a rookie (just 8 months experience) I can't play this game with more than 1:30.. I am on real account not demo..Cheers to all!
1:250

Real Account.

As far as the limit trade goes, it dint hit 1228 If only i had set it much lower... it fell from 1227 to 1220... damn
  • #258
  • Jun 10, 2010 10:38am Jun 10, 2010 10:38am
gOLD can be extremely devastating to an account as well as rewarding.
Due to the nature of the price action. $25 (2500) pip moves are not uncommon in a day.

If you are live and want exposure I suggest using 1:100 standard leverage however, decreasing your lot size to micros. Be that 1 micro lot if that is what suits you. For instance 1000 pip move would net you $10 - if it was a loss - well that's quite sustainable.


Quoting vioilaunch
Hi, Auther, I am curious what is the leverage you are using? I don't know about you guys, but for me as a rookie (just 8 months experience) I can't play this game with more than 1:30.. I am on real account not demo..Cheers to all!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #259
  • Jun 10, 2010 10:39am Jun 10, 2010 10:39am
Gold "Profit-Taking Reflex" Continues as Dollar Slips, S&P Says Greek Default "Not Inevitable"
Analysis - Commodity Market Commentaries
Written by BullionVault | Thu Jun 10 10 10:03 ET


Quote
Gold slipped for the second session running in London on Thursday, dropping 2.5% from Tuesday's new record highs as European stock markets held flat but the US Dollar also ticked lower on the currency market.

The Bank of England and European Central Bank both voted to keep interest rates on hold, sticking since spring 2009 at 0.5% and 1.0% respectively.

Gold priced in Sterling and Euros rallied from 3-session lows Thursday lunchtime, bouncing higher from £835 per ounce and €32,500 per kilo.

"Gold is undergoing a reflexive movement," says...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #260
  • Jun 10, 2010 11:03am Jun 10, 2010 11:03am
Auther it seems to me there is already a short in play,
Gold is still struggling with that downtrend line from 1250 - I posted a chart with it in it for reference.

Be careful though. When the price gets a bit lower there may be some explosive longs coming into play.

Good luck,
X

Quoting auther
Wanting to short @ 1228
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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