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

  • #421
  • Jun 18, 2010 4:56pm Jun 18, 2010 4:56pm
Hello

I am interested in trading commodities. Can u pls advise which inidcator or system can help me in trading Gold and Silver

Appreciate your help

Cheers!
  • #422
  • Jun 19, 2010 12:43am Jun 19, 2010 12:43am
Fundamentals, Sentiment, Price Action, Moving averages, Support and resistance.
edit: oh and volume and volatility. Study all these and some history on Gold and the way futures work.

Quoting forexzak
Hello

I am interested in trading commodities. Can u pls advise which inidcator or system can help me in trading Gold and Silver

Appreciate your help

Cheers!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #423
  • Jun 19, 2010 12:46am Jun 19, 2010 12:46am
That's great! Juniors are appealing, do you not focus on the big boys, Barrick, Anglo, etc?

Quoting steroidman
Finished all my selling of my holdings in SLTA. Went from almost .05 to .30.

The next big junior gold winner is smng, trading at .035. This is for entertainment purposes ONLY. Only bet your forex winnings. Lol. If there are any.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #424
  • Edited 1:02am Jun 19, 2010 12:49am | Edited 1:02am
This is the formation before breakout.

Quoting XTrade


I have RE-Plotted the Triangle Using H4 charting for more validity.
...... My bias remains north as of right now.
Attached Image (click to enlarge)
Click to Enlarge Name: gold_falling wedge_REPLOTH4.gif Size: 28 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #425
  • Edited 1:26am Jun 19, 2010 1:03am | Edited 1:26am
This is the follow up of the breakout thru the symmetrical triangle found earlier this week.
The pattern began forming last week. The break was expected and there were 2 options to play this trade safely, resulting in nice profits.

Note: This is an H4 chart, increasing the Time Frame will greatly increase the validity of patterns.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold_SYMtri_FollowUP_June.GIF Size: 71 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #426
  • Jun 19, 2010 1:26am Jun 19, 2010 1:26am
Chart added to last post
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #427
  • Jun 20, 2010 11:21am Jun 20, 2010 11:21am
Quoting XTrade
That's great! Juniors are appealing, do you not focus on the big boys, Barrick, Anglo, etc?
Thanks
  • #428
  • Jun 20, 2010 1:25pm Jun 20, 2010 1:25pm
There is a lot too learn, but gold is very volatile these days and it will pay off!
Quoting forexzak
Thanks
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #429
  • Jun 20, 2010 2:12pm Jun 20, 2010 2:12pm
you better not trade gold. is not for everyone.



Quoting XTrade
There is a lot too learn, but gold is very volatile these days and it will pay off!
  • #430
  • Edited 6:29pm Jun 20, 2010 5:41pm | Edited 6:29pm
I take it this post is not to me, in any case,

No it is not, at times it is more unforgiving than currencies.


Like I said it is extremely volatile these days.

Just got in, going to check market.

Quoting geocatalinfx
you better not trade gold. is not for everyone.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #431
  • Jun 20, 2010 6:13pm Jun 20, 2010 6:13pm
Gold Opens http://www.kitco.com/images/live/gold.gif

This is the true -Non market maker open_
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #432
  • Jun 20, 2010 6:44pm Jun 20, 2010 6:44pm
SMNG was bought because I think it will go to .20 cents fairly rapidly. So twenty grand becomes 80k. Is Barrick going to do that for me anytime soon?

And it probably goes to .75 after I am gone, THIS YEAR.
  • #433
  • Edited Jun 21, 2010 4:30am Jun 20, 2010 7:31pm | Edited Jun 21, 2010 4:30am
No, Probably not,

I love the play on juniors, yet every time I go to buy stock I take the money and put it into physical.

I can't and won't stop, I even have recycling plans of base metals to buy my weekl silver bar or coin, Gold, I buy all the time.




Quoting steroidman
SMNG was bought because I think it will go to .20 cents fairly rapidly. So twenty grand becomes 80k. Is Barrick going to do that for me anytime soon?

And it probably goes to .75 after I am gone, THIS YEAR.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #434
  • Edited 10:10pm Jun 20, 2010 9:37pm | Edited 10:10pm
If you are going to hoard anything for what is around the corner, I would hoard tons of food, water, guns and tradeable items. GOLD is going to be the worst. Silver is better, and you better be able to defend it.

Anyways, watch SMNG. U will believe on the next one.
  • #435
  • Jun 21, 2010 4:52am Jun 21, 2010 4:52am
Hey Guys,

How do you think the Chinese News on Yuan would impact Gold...

Some say that it boosted rally on riskier assets, does it mean less appeal for Gold in the short term ?
  • #436
  • Jun 21, 2010 5:29am Jun 21, 2010 5:29am
By the way, I am close to going ALL IN on a gold short. Too bad I missed the 1265, it may have been the top.

Again, why am I negative on the price of gold? Lots of reasons. Stated previously. There is technology now that finds oil and gold that is not public, that makes both almost worthless now. But that is not going to surface anytime soon.

Plus there are billions of ounces in the ocean. Don't get too bubbled on this one.
  • #437
  • Jun 21, 2010 9:06am Jun 21, 2010 9:06am
Quoting steroidman
By the way, I am close to going ALL IN on a gold short. Too bad I missed the 1265, it may have been the top.

Again, why am I negative on the price of gold? Lots of reasons. Stated previously. There is technology now that finds oil and gold that is not public, that makes both almost worthless now. But that is not going to surface anytime soon.

Plus there are billions of ounces in the ocean. Don't get too bubbled on this one.
I agree to your view to some extent with some correction.

Here is what i heard from a neutral resource, someone who is working as a Engineer and is least interested in trading.

Coming to your point, there is sufficient technology already to locate the reserves, but it was difficult to extract the resources due to their remote location where generation of energy and connectivity for the purpose of extraction activities was a challenge. But with growing technology it is now becoming more and more possible to generate sufficient energy in remote locations independently. Hence we would see the results of these in time to come, but shorting the market while day trading for this reason is stupidity. But Physical Gold may be hit if this becomes a success. So just make sure your investment is diversified and not fully invested in commodities.
  • #438
  • Jun 21, 2010 12:13pm Jun 21, 2010 12:13pm
Some profit taking and fairly sharp correction present on the chart.

Possible dip to buy here, but waiting a for things to stabilize.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #439
  • Edited 12:27pm Jun 21, 2010 12:15pm | Edited 12:27pm
Quoting XTrade
Some profit taking and fairly sharp correction present on the chart.

Possible dip to buy here, but waiting a for things to stabilize.
I bought @ 1241.45


You have successfully opened a new DAY TRADING deal.
The details of your deal are:
Open reason: By user
ID: 6371992
Deal opening date: 21-06-2010 17:01
Buy currency: XAU
Sell currency: USD
Amount : 40.00 XAU
Rolling until: 28/06/2010
Deal rate: 1241.45
Margin (USD): 400.00
Stop loss rate: 1231.45
Take profit rate: N/A


Will not hold for too long... Will book profit for short gain, that is if there is gain

I feel like am standing on quicksand
  • #440
  • Jun 21, 2010 12:28pm Jun 21, 2010 12:28pm
Quoting auther
I bought @ 1241.45



ID: 6371992
Deal opening date: 21-06-2010 17:01
Buy currency: XAU
Sell currency: USD
Amount : 40.00 XAU
Rolling until: 28/06/2010
Deal rate: 1241.45

Will not hold for too long... Will book profit for short gain, that is if there is gain

Your Day Trading Deal 6371992 has been closed.
The closing details are:
Closing reason : By User
Closing rate : 1242.45
Deal opening date: 21-06-2010 17:01
Profit: 40.00 USD
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