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  • #961
  • Jul 14, 2010 1:56am Jul 14, 2010 1:56am
Looks like the bullish flag is breaking up.

I am holding long and going to rest.

Lets see how this goes.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #962
  • Jul 14, 2010 3:29am Jul 14, 2010 3:29am
All the major indices are likely to fall today.
They have been going up for over a week and are in or near overbought areas now.

The dollar is weak, with the EUR looking like it is heading for 1.3.
GBP/USD is going up too and this is with the admission the true public sector debt in the UK is around 4 trillion when everything is added in. I think when everything is added in for many more countries figures like this will not be uncommon.

Well so much for fiat currencies and the great wall of money from China.
  • #963
  • Jul 14, 2010 8:07am Jul 14, 2010 8:07am
new long @1207 cuz

$10 pull back from recent H
20WMA on 4H at 1207
is near 23.6% FIB on daily (having bounced back from 38.2%
I have no enemy; I make Incautiousness my Enemy.
  • #964
  • Jul 14, 2010 10:50am Jul 14, 2010 10:50am
Quoting XTrade
not ATM.

We have a potential bullish flag on the H1.

If it breaks we get appx 2000 pips. from about here. 1211.
putting the price Right at a minor resistance area in 1230 zone.

will add chart so refresh this post

I am long @ 1210+
Quoting jimobiwan
new long @1207 cuz

$10 pull back from recent H
20WMA on 4H at 1207
is near 23.6% FIB on daily (having bounced back from 38.2%
Nice Trades....

I took few small scalps but missed this one...

So, did i miss the train or can i still catch up!!!

  • #965
  • Jul 14, 2010 10:50am Jul 14, 2010 10:50am
Quoting jimobiwan
new long @1207 cuz

$10 pull back from recent H
20WMA on 4H at 1207
is near 23.6% FIB on daily (having bounced back from 38.2%
------------

Nice little pop. Will hold longer cuz:

 

  1. Bullish engulfing candle on 4H
  2. Broke yesterdays' DH
  3. Day Range not done
  4. DXY breaking below yesterday's low

I have no enemy; I make Incautiousness my Enemy.
  • #966
  • Jul 14, 2010 10:59am Jul 14, 2010 10:59am
Quoting jimobiwan
------------

Nice little pop. Will hold longer cuz:

 

  1. Bullish engulfing candle on 4H
  2. Broke yesterdays' DH
  3. Day Range not done
  4. DXY breaking below yesterday's low

It fell back from almost the same level as yesterday's high...

Double Top Or Cup & H???
  • #967
  • Jul 14, 2010 11:03am Jul 14, 2010 11:03am
Quoting jimobiwan
------------

Nice little pop. Will hold longer cuz:

 

  1. Bullish engulfing candle on 4H
  2. Broke yesterdays' DH
  3. Day Range not done
  4. DXY breaking below yesterday's low

-------

stopped out @1214.8

that was a surprise. Glad i raised the stop.

Watching for an outside day down...........
I have no enemy; I make Incautiousness my Enemy.
  • #968
  • Jul 14, 2010 11:04am Jul 14, 2010 11:04am
Quoting auther
It fell back from almost the same level as yesterday's high...

Double Top Or Cup & H???
Phew!!! It took out the complete pop...n more

hmmm.... Definitely not C&H...

Well, Quickly shorted silver as it had not retraced as much as what gold did...

fingers crossed...
  • #969
  • Jul 14, 2010 11:05am Jul 14, 2010 11:05am
Quoting jimobiwan
-------

stopped out @1214.8

that was a surprise. Glad i raised the stop.

Watching for an outside day down...........
Awesome... U must thank the Gods
  • #970
  • Jul 14, 2010 11:18am Jul 14, 2010 11:18am
I can't believe what is happening...if 1205-1206 doesn't hold, then we're doomed, the longs I mean Still.. it's the 4th time this 1216-1217 is tested and won't give way....are we going then in the other direction????
  • #971
  • Jul 14, 2010 11:25am Jul 14, 2010 11:25am
Quoting vioilaunch
I can't believe what is happening...if 1205-1206 doesn't hold, then we're doomed, the longs I mean Still.. it's the 4th time this 1216-1217 is tested and won't give way....are we going then in the other direction????
I have my shorts in place

In Silver tho... In profit for now...
  • #972
  • Jul 14, 2010 11:47am Jul 14, 2010 11:47am
Quoting auther
I have my shorts in place

In Silver tho... In profit for now...
Quick thinking. We dont have minilots here in Ag or Au so that puts Ag out of reach for the time being.
I have no enemy; I make Incautiousness my Enemy.
  • #973
  • Jul 14, 2010 11:53am Jul 14, 2010 11:53am
I am looking at 1201/02 area to go long, (After it bounces from the line)
Once in - will try and test my patience to 1225+
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  • #974
  • Jul 14, 2010 11:56am Jul 14, 2010 11:56am
Quoting jimobiwan
Quick thinking. We dont have minilots here in Ag or Au so that puts Ag out of reach for the time being.
Whats the lowest size available with ur broker... the lowest i have is 300XAG with a spread of 700pips... I know thats SAD... thats why i hardly trade silver..
Closed it for profit...

Setting up for long in gold

GL
  • #975
  • Edited 12:03pm Jul 14, 2010 12:01pm | Edited 12:03pm
Quoting auther
Whats the lowest size available with ur broker... the lowest i have is 300XAG with a spread of 700pips... I know thats SAD... thats why i hardly trade silver..
Closed it for profit...

Setting up for long in gold

GL

Ag lot size is:
"
The size of transaction for silver is at the multiple of 5,000 ounces. "

bid 18.2200 ask 18.2650

How does that compare? I'm not sure what 300XAG means
I have no enemy; I make Incautiousness my Enemy.
  • #976
  • Jul 14, 2010 12:18pm Jul 14, 2010 12:18pm
Quoting jimobiwan
Ag lot size is:
"
The size of transaction for silver is at the multiple of 5,000 ounces. "

bid 18.2200 ask 18.2650

How does that compare? I'm not sure what 300XAG means
300 ounces and multiples of the same is what i have

so your spread is 450 mine is 700

So spread-wise yours is better, lot-wise i have smaller.

For Gold i have multiple of 10 ounces with a spread of 70 pips
  • #977
  • Jul 14, 2010 12:23pm Jul 14, 2010 12:23pm
Quoting auther
300 ounces and multiples of the same is what i have

so your spread is 450 mine is 700

So spread-wise yours is better, lot-wise i have smaller.

For Gold i have multiple of 10 ounces with a spread of 70 pips

me - 100 oz lots for Au

spread is normally 50 but it can stretch to 100 or 250 if there is hectic trading.

and that lasts only maybe 30 mins. it fluctuates, particularly in NYT, so i keep an eye on the spread. Sometimes when not focussed i trade without noticing a large spread.
I have no enemy; I make Incautiousness my Enemy.
  • #978
  • Jul 14, 2010 12:36pm Jul 14, 2010 12:36pm
now they squish the shorts.

today's H just about touched the 18 and 45dma at 1220, 1219 respectively and failed to hold above 38.2% Fib ret.

We've had 4 days knocking around this range.

I reckon eventually it will get up over this confluence of tech resistance - or not (always like to remind myself that PA is most important)

DXY is supportive.
I have no enemy; I make Incautiousness my Enemy.
  • #979
  • Jul 14, 2010 1:04pm Jul 14, 2010 1:04pm
WASHINGTON (MarketWatch) -- Federal Reserve officials concluded at their June policy meeting that

 

  1. the pace of the recovery was likely to be slower than they had earlier hoped,
  2. they saw no immediate need for more easing of monetary policy,
  3. Officials agreed that it would be a good idea to study what steps "might become appropriate" if the economy took a sharp downturn.
  4. Fed officials did not appear overly alarmed about a slowdown.
  5. None of the 17 top Fed policymakers are forecasting a double-dip.
  6. Only a few cited some risk of deflation.
  7. The Fed's formal forecasts made slight downward revisions to growth and inflation in 2011 and 2012 and
  8. saw a slightly higher unemployment rate in 2011.

I have no enemy; I make Incautiousness my Enemy.
  • #980
  • Jul 14, 2010 1:55pm Jul 14, 2010 1:55pm
Quoting auther
I am looking at 1201/02 area to go long, (After it bounces from the line)
Once in - will try and test my patience to 1225+
Like the way u think!!!!
i got in at 1203.90 w/TP at 1217.75 around 75units
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