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

  • #601
  • Jun 25, 2010 10:26am Jun 25, 2010 10:26am
Inserted Video
  • #602
  • Jun 25, 2010 10:34am Jun 25, 2010 10:34am
I closed the rest of my position at 55.5, I may regret it if 52 proves to be a solid support. It's going to be really interesting to see what it does on monday, the break of 52 tells me a fairly seamless continuation will follow.
  • #603
  • Jun 25, 2010 10:37am Jun 25, 2010 10:37am
Quoting six gun
Have not even read this myself yet
Niall Fuller is a top guy and uses good technical analysis that WORKS.

http://www.learntotradethemarket.com...1f6bFTwYR1wtMW

**Edit**
Hey XTrade mate - this guy is singing from our hymn sheet!
I hope this will help people on this thread make informed decisions about their trades and cut out some of the guessing.

Thanks for sharing that.

An old guy told me once to forget the news - that everything known in the world is already digested and human behaviour reflected in the price action.
I have no enemy; I make Incautiousness my Enemy.
  • #604
  • Jun 25, 2010 10:37am Jun 25, 2010 10:37am
Double post :@

My phone acts really wierd here.
  • #605
  • Jun 25, 2010 10:40am Jun 25, 2010 10:40am
Quoting jimobiwan
Thanks for sharing that.

An old guy told me once to forget the news - that everything known in the world is already digested and human behaviour reflected in the price action.
True but then there's the Swiss National Bank.
  • #606
  • Jun 25, 2010 10:51am Jun 25, 2010 10:51am
Is there a relation between the G8 or such a meeting and Gold

From my faint memory i remember, sometime back, after such a meeting there was a sharp correction in Gold.

Somebody said, that some of them would sell some of reserve gold to implement what was promised at the meeting.

Does any of you feel it makes sense...
  • #607
  • Jun 25, 2010 11:00am Jun 25, 2010 11:00am
Always does. That is why I am getting positioned today. Always falls about 100-150.
  • #608
  • Jun 25, 2010 11:05am Jun 25, 2010 11:05am
I think they are all going to come out of the G-20 with some fairy tale everything will be alright line... I just don't think people will bite...My sense is that is going to move big before the close.. I would guess up then down on Monday while people digest the rhetoric.
  • #609
  • Jun 25, 2010 11:07am Jun 25, 2010 11:07am
Quoting auther
Is there a relation between the G8 or such a meeting and Gold

From my faint memory i remember, sometime back, after such a meeting there was a sharp correction in Gold.

Somebody said, that some of them would sell some of reserve gold to implement what was promised at the meeting.

Does any of you feel it makes sense...

I probably made sense back then because there was a time when GOVTs did sell due to the situation at that time. The situation is different now.

Best to drive looking forwards though. Often you interpret the news one way but the price moves the other way.

We dont argue with Mr Market who is right and who is wrong.

Close stop losses means we survive to play again when the next setup comes around. Its better than "being right" and account-less
I have no enemy; I make Incautiousness my Enemy.
  • #610
  • Jun 25, 2010 11:11am Jun 25, 2010 11:11am
"President Barack Obama, backed to some extent by Nicolas Sarkozy of France, wants economic stimulus to continue until the global recovery is unambiguously secure. In the opposite corner is Germany's Angela Merkel, now oddly aligned with Britain's new political leadership in thinking the time is right for fiscal austerity." -telegraph.co.uk
  • #611
  • Jun 25, 2010 11:15am Jun 25, 2010 11:15am
in the last few ways the gold surge (new highs forming) always came in days the USD was tanking, so I don't believe this is a coincidence.

Exactly the same with Oil
  • #612
  • Jun 25, 2010 11:19am Jun 25, 2010 11:19am
it also used to come on days when the Euro was tanking but not today?
  • #613
  • Jun 25, 2010 11:23am Jun 25, 2010 11:23am
Just bought some more. SHINK or swim.
  • #614
  • Jun 25, 2010 5:58pm Jun 25, 2010 5:58pm
THis is a great article. Yes, you are correct, much of what we have been saying he seems to agree with!

Quoting six gun
Have not even read this myself yet
Niall Fuller is a top guy and uses good technical analysis that WORKS.

http://www.learntotradethemarket.com...1f6bFTwYR1wtMW

**Edit**
Hey XTrade mate - this guy is singing from our hymn sheet!
I hope this will help people on this thread make informed decisions about their trades and cut out some of the guessing.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #615
  • Edited 6:44pm Jun 25, 2010 6:43pm | Edited 6:44pm
Explicit? Ha,

Explicit would be the following,

Producing a trade idea and showing a chart of what are doing in REAL TIME.
This would also entail
A. An entry area
B. A stop area
C. A desired TP level
D. The risk reward of the trade.

Area = within a 300 pip or 3$ range.

Please stop leading new members here into a theory of shorting the Gold market when the safer, smarter, play in a massive bull market is to buy dips,
hold on to a trade and take profit at resistance.

Any one could come on here and say I "shorted" or " oh yeah went long earlier" and I am winning and be full of it, as many do.

Quoting steroidman
Uhh, please, I have been pretty explicit about moving IN and OUT. I am a five to ten dollar scalper looking for the big fall DURING one of my moves. If it starts to move against me, I bail.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #616
  • Jun 25, 2010 7:34pm Jun 25, 2010 7:34pm
I will tell you the truth. Trade number 25 is lousy so far. Its at the same price as when I went in, and I get to stew on it all weekend.

So the truth be known, I wish I hadn't taken the trade. I hate being held over a couple of days. Feels like a trading halt.

So far, gold has been doing great. But when the market tanks AND commodities go down. That is when everyone will go, what the hell is that? And its called deflation. Where all the air is drawn out of a room of tired partiers.

And this is gold thread, not a lets all go off the cliff holding hands at the top thread.

If I am wrong about this, I will eat the biggest crow pie you can find. I am the first to admit when I am wrong. Only thing is, I have hung out with the people who make markets in the pink sheets, otcbb, nasdaq, NYSE and forex.

And you know what, they always paint a picture, helped by the media, to get all of you, to LOSE as much as you can.

And again, NO big senior outfits are buying up gold juniors. AT ALL. NONE. Ask yourself why? What do they know? That apparently most here don't?

What was talked about in the secret gold conference where the ticket was 300,000 USD? Held by Clinton, and entertained by Travolta, Cruise, Jayz, Beyonce and Elton?

If you don't know or can't figure it out, then keep buying, hoarding and burying.

Just looking to keep things real, never liked blonde cheerleaders in high school either.
  • #617
  • Jun 25, 2010 7:35pm Jun 25, 2010 7:35pm
I have to agree XTrade here.

This is the main gold and silver thread on forex factory.
A lot of people watch this without posting.
Gold and silver are such a good investment.
I would say in the near future, they will be the best investments there are.

Any one can say they have a system that is more accurate.
That gives win after win after win.
But it isn't available to others and it is top secret.

People will post what they will but they should explain their trades.
I went short and nothing much more concrete.

On other threads and forums I follow it is usual to post the chart with your fibs, trendlines, support lines, candle stick patterns, macd - whatever it is you use.
Say why you are thinking about the trade.
The pros and cons of the trade.
The take profits targets, the stop loss, the type of stop loss.

This way others can discuss this with you and we can all learn from the exercise.
Otherwise what is the point of posting on a forum at all?

That is what a quality thread is about our else it degenerates into a phoney bragging gallery which is useless.

The link I put up for Nial Fuller - he identified candle stick setups which would have made a profit.
I am going to try to continue in the vain with these charts.
Over the weekend I'll post the charts showing the candles.
This will help people see candles setups as they arise and we can start discussing them.
This way educated and lower risk trades can develop which will benefit us all.
  • #618
  • Edited Jun 26, 2010 5:14am Jun 25, 2010 7:49pm | Edited Jun 26, 2010 5:14am
Quoting steroidman

So far, gold has been doing great. But when the market tanks AND commodities go down. That is when everyone will go, what the hell is that? And its called deflation. Where all the air is drawn out of a room of tired partiers.
Gold and silver are going to tank - that is BS
Commodities are going to tank - sugar, corn, cattle, pork, oil - basic stuff we live by? We can get by without an ipad or designer clothes but get real. These are the very things that will not tank.
When the phoney fiat currencies go up in smoke, gold and silver will be what is left.

[quote]
And this is gold thread, not a lets all go off the cliff holding hands at the top thread.
[/QUOTE}

What is this comment about?

Quote
And again, NO big senior outfits are buying up gold juniors. AT ALL. NONE. Ask yourself why? What do they know? That apparently most here don't?

So what is this about?
Are you saying that gold mines are worthless holes in the ground?
Tell us what they know as clear most here don't

Quote
What was talked about in the secret gold conference where the ticket was 300,000 USD? Held by Clinton, and entertained by Travolta, Cruise, Jayz, Beyonce and Elton?

If you don't know or can't figure it out, then keep buying, hoarding and burying.

Who is paying $300 000 for a secret gold conference.
What "secret" conference has big name stars entertaining.
What did John Travolta and Tom Cruise do in the entertainment side?
They are actors - was there a play or some such?

Well I will obviously have to keep buying and hoarding cos I can't make any sense out of this.
  • #619
  • Jun 25, 2010 8:14pm Jun 25, 2010 8:14pm
Look,

I don't care about a "Gold Conference" with Travolta and Clinton and Jayz?! Please.

I don't care wild theories with no backup. Market's go up and down, they have bull runs and bear runs. THis is no secret.

I do care about the trend and profiting from it.

When the trend is up as it is now, I am primarily buying.
When it is down I will be selling.
Simple.

If you cannot realize that we are in an uptrend, I cannot help you.

That being said, in response to your remark implying that some of here are "cheerleading" Gold, well, buying dips during an uptrend and taking profit is a working strategy that has consistently produced solid long term profits more -so than counter trend trading on a few small shorts adding to the potential of getting one's a$$ handed to them.

As a trader, I adapt to the "scenerey" at hand, up or down. A market maker cannot change the price of gold. Sorry.

If you don't like the analysis, discussion and trade calls in this thread remember, No one is forcing you to come here.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #620
  • Jun 25, 2010 10:11pm Jun 25, 2010 10:11pm
OK - Now back to what is important.

Gold is hovering just below recent record highs and looking to retest.

There has been a difference of opinions and/ or direction @ the G20.

Long and Short: (just a part)

EU= Wants to decrease spending in order to stabilize Global Economies
USA = Wants to increase spending.

I am reading and will post some commentaries thru out the weekend as I find them.

Enjoy everyone.
X
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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