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

  • #1,081
  • Edited 12:43am Jul 23, 2010 12:39am | Edited 12:43am
Figured I should point this out. Perfect example of a "would be" successful rollover trade.

-->This trade should have been left open.... Or retaken as the initial sentiment was there, yet I got caught up with GBP and EUr...
We did "dip" yet nothing that would have taken out stops, result would have been a nice $15 dollar move as we tested 1200 today in NY.
Patience was the key. The call was right!
Learning lesson! What can you do!

Quoting XTrade
Going to scalp here.
Long at 1185.43 looking for another 300+ pippies
Quoting XTrade
This price action is dead. May be in for a further dip...
Too late in the day to trade now, will have to come back tonight.
Took my 50 pips and ran.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,082
  • Jul 23, 2010 5:28am Jul 23, 2010 5:28am
where can i find a chart of the CRB index? Does it move around all day like XAU? I have just read about CRB index, never actually seen one.
I have no enemy; I make Incautiousness my Enemy.
  • #1,083
  • Jul 23, 2010 10:29am Jul 23, 2010 10:29am
Quoting jimobiwan
a flag seen on 1H. Outside day up yesterday so yesterday's H i view as a higher low (1180.55). Stayed above 100dma for last four days. Looking to go long. Set at 1185.
hasnt hit my 1185 so got in manually 1189. Today has hit 18dma on first attempt back to the top side. Expecting it to try again monday.
I have no enemy; I make Incautiousness my Enemy.
  • #1,084
  • Jul 23, 2010 12:20pm Jul 23, 2010 12:20pm
Yeah this may be a good entry.

We have made three higher lows forming a TL

1175 - 1182 and 1186 areas with highs now

appx 1195 -1198 - 1201 & 1203.60 areas.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,085
  • Jul 23, 2010 1:14pm Jul 23, 2010 1:14pm
Not expecting much here before the weekend though.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,086
  • Jul 25, 2010 1:29am Jul 25, 2010 1:29am
daily holding up since the last break low but the weekly looks vulnerable.

any views? EUR seems it cant make up its mind. Will there be a fear factor that will push Au back up?
I have no enemy; I make Incautiousness my Enemy.
  • #1,087
  • Jul 26, 2010 12:18am Jul 26, 2010 12:18am
Quoting jimobiwan
hasnt hit my 1185 so got in manually 1189. Today has hit 18dma on first attempt back to the top side. Expecting it to try again monday.
Turns out actual entry @1188.2 L

See what happens on Frankie open. Currencies mostly hovering except JPY which is weakening at last.
I have no enemy; I make Incautiousness my Enemy.
  • #1,088
  • Jul 26, 2010 5:39am Jul 26, 2010 5:39am
Quoting jimobiwan
Turns out actual entry @1188.2 L

See what happens on Frankie open. Currencies mostly hovering except JPY which is weakening at last.
Took it at 93.

Daily not looking healthy now. Touched 18dma on 14JUL and again last fri still cant climb back over. Looking to the dark side now.

JPY tried to climb lower by now back to low 87 .... Some volatility ahead.
I have no enemy; I make Incautiousness my Enemy.
  • #1,089
  • Jul 26, 2010 7:32am Jul 26, 2010 7:32am
i took the small drop this morning with a rather shoddy entry so i got a rubbish ROI on it. The bounce at 86 felt a little premature. I was expecting a point lower, it is now time to decide if I look for a long or expect a breakout lower.

A rally makes more sense but even though we have an inverted hammer on the hourly i don't like the idea of it going now. if i can get a long at 86 then cool, otherwise i may wait for a better time.
  • #1,090
  • Jul 26, 2010 7:53am Jul 26, 2010 7:53am
did a L in at 1187. Not looking for it to break above 18dma yet. Todays dip has broken the up trendline if you look at the 4H.

A days' range from today's DH would bring PA to the recent low of 75, slightly below the 100dma and the 61.8% Fib (1267H:1125L).
I have no enemy; I make Incautiousness my Enemy.
  • #1,091
  • Jul 26, 2010 8:06am Jul 26, 2010 8:06am
meh my pedantic style made me hold out for a price 30c lower and as a result i missed this promising breakout.
  • #1,092
  • Jul 26, 2010 8:37am Jul 26, 2010 8:37am
Quoting jimobiwan
did a L in at 1187. Not looking for it to break above 18dma yet. Todays dip has broken the up trendline if you look at the 4H.

A days' range from today's DH would bring PA to the recent low of 75, slightly below the 100dma and the 61.8% Fib (1267H:1125L).
Took that long as a scalp at 91.2 - better than nowt

We are in an inside day. will stand aside for now but Overall it looks weak.
I have no enemy; I make Incautiousness my Enemy.
  • #1,093
  • Jul 26, 2010 9:38am Jul 26, 2010 9:38am
woops i wasnt paying attention there. It looks like we may have a direction for the next couple of days. 65 next barrier?
  • #1,094
  • Jul 26, 2010 5:12pm Jul 26, 2010 5:12pm
Gold my be vulnerable to further downside - buying interest seems tamed. Yet selling hasn't breached 1180

Silver is in a TIGHT 23 appx cent range!

Let's see what happens tonight.

Quoting 17121712
woops i wasnt paying attention there. It looks like we may have a direction for the next couple of days. 65 next barrier?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,095
  • Jul 26, 2010 8:15pm Jul 26, 2010 8:15pm
Setting up on the chart NOW!

I will post a follow up chart!.

Keep informed and WATCH silver as well!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,096
  • Jul 26, 2010 8:19pm Jul 26, 2010 8:19pm
I am taking a long here at 1185 to target 1190 plus
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,097
  • Jul 27, 2010 5:11am Jul 27, 2010 5:11am
set S@1195
Set L@1167

Busy today so not watching.
I have no enemy; I make Incautiousness my Enemy.
  • #1,098
  • Jul 27, 2010 11:08am Jul 27, 2010 11:08am
I have been busy the past few days and not able to be up to the minute.

My last trade was closed at BE.

Gold is getting HIT today, this was evident on the chart for some time now.


Is anyone on this short?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,099
  • Jul 27, 2010 11:09am Jul 27, 2010 11:09am
I was long
margin call
danm
  • #1,100
  • Jul 27, 2010 11:15am Jul 27, 2010 11:15am
If you take a look at USD/CHF
you can see that the dollar has been strong against Swissy,
YET,
GBP and EUR continue their rallies...

We are at a crucial spot here and it if a close is produced below 1160, we may be able to expect further chart damage.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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