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

  • #2,181
  • Nov 29, 2010 12:09am Nov 29, 2010 12:09am
Where to next? Hmmm...

Not bad trades here just want to see higher GOLD and higher EUR. Not that I really care about the EUR.

Gold on the other hand....
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,182
  • Nov 29, 2010 12:17am Nov 29, 2010 12:17am
Took prfit on second order about 900 pips.

Bought in again as seen below. Not trading London tonight.

So may just add trailing stops.

In the immediate sense we need to take out 1364 to follow up.
Otherwise may just fizzle out into consolidation mode for the next session or so...

Need to take a look at the news rack again...
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,183
  • Edited 5:17am Nov 29, 2010 3:12am | Edited 5:17am
bought 1356 and out 1366
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  • #2,184
  • Nov 29, 2010 7:53am Nov 29, 2010 7:53am
Quoting XTrade
Possible HEAD AND SHOULDERS forming on mid term charts,

I will add a chart but have run 4 now. please refresh or see new post before end of weekend.

IT ;could pan out and create a nice short. Sorry for any typos I am on my new wireless mac keyboard!!
if this is what your seeing
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  • #2,185
  • Edited 2:13pm Nov 29, 2010 1:38pm | Edited 2:13pm
I discussing it with someone and tHe volume does not support the H&S pattern.

GOld LOOKING to take 1370 whooo.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,186
  • Nov 29, 2010 1:49pm Nov 29, 2010 1:49pm
Out of curiosity: since when is gold being transacted on the forex market? Is it possible to ban the gold on this market?

I'm asking this because sooner or later there will be more paper gold than real gold and some measures will be applied in order to balance things.

P.S. Also applies for all the commodities
  • #2,187
  • Nov 29, 2010 4:19pm Nov 29, 2010 4:19pm
Quoting musclemike
Out of curiosity: since when is gold being transacted on the forex market? Is it possible to ban the gold on this market?

I'm asking this because sooner or later there will be more paper gold than real gold and some measures will be applied in order to balance things.

P.S. Also applies for all the commodities
When people holding the paper gold will ask for delivery, that will help up balancing things
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #2,188
  • Nov 29, 2010 4:40pm Nov 29, 2010 4:40pm
Yes, it is. They were trying to ban it when the new margin reqs happened.

Essentially Forex Gold is just speculating the spot price of Gold.
It is not backed by anything and you are not able to "take delivery" as you would with a futures contract.

It is the same as spread betting or trading "CFDs" in the UK.

I am surprised it has lasted this long.

Trading futures is far cheaper, yet requires more margin.

the typical 50 cent spread is large.

Quoting musclemike
Out of curiosity: since when is gold being transacted on the forex market? Is it possible to ban the gold on this market?

I'm asking this because sooner or later there will be more paper gold than real gold and some measures will be applied in order to balance things.

P.S. Also applies for all the commodities
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,189
  • Edited Nov 30, 2010 12:35am Nov 29, 2010 11:06pm | Edited Nov 30, 2010 12:35am
Hmm, so what you're saying is that: gold trading on forex market will end.


P.S. Guys, lets try and see when was the first time gold was traded on the forex market, i found out that the first rating for XAU/USD was in 1993, but i don't think that was a rate for the forex market trading. For example my platform-broker is trading metals only from 2009.
  • #2,190
  • Nov 30, 2010 3:17am Nov 30, 2010 3:17am
Slowly but surely my 1370 level has been cracked.

Looks like the USD and GOLD are somewhat positively correlated again

time to B R E A K O U T.

correlation study will be posted in minutes below.

I am long as usual. First entry around 64/5
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,191
  • Nov 30, 2010 3:34am Nov 30, 2010 3:34am
Wow i Love you Gold
SANTAI FX EA
  • #2,192
  • Nov 30, 2010 3:41am Nov 30, 2010 3:41am
[quote=XTrade;4208499]Slowly but surely my 1370 level has been cracked.

Looks like the USD and GOLD are somewhat positively correlated again

time to B R E A K O U T.

Hi XTrade,

Can you see vol? what is Vol tellling us?
I have no enemy; I make Incautiousness my Enemy.
  • #2,193
  • Nov 30, 2010 10:38am Nov 30, 2010 10:38am
THe Breakout was successful. Looks like a potential bullish flag on the Lower time frame charts.

I took off two lots - may add here. these were the trades.
Now i can take a look at the USD and Gold correlation.

Safe haven buying.....



Quoting XTrade
Slowly but surely my 1370 level has been cracked.

Looks like the USD and GOLD are somewhat positively correlated again

time to B R E A K O U T.

correlation study will be posted in minutes below.

I am long as usual. First entry around 64/5
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,194
  • Nov 30, 2010 10:43am Nov 30, 2010 10:43am
LOoks like GOLD IS GOING FOR THE BREAK!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,195
  • Nov 30, 2010 10:49am Nov 30, 2010 10:49am
Still waiting for 1400 to close some positions...in the last couple of days i was wondering if we'll touch the 1400 lvl this year...we'll see.
  • #2,196
  • Nov 30, 2010 11:30am Nov 30, 2010 11:30am
gold is ok so far , my weekly prediction 1414 or around whatever strong the usdx can be is still weaker than gold is .lost old chart by mistake & new one with indicators.

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #2,197
  • Nov 30, 2010 7:25pm Nov 30, 2010 7:25pm
we should see 1400 again, yet there is the hurdle of 1390 resistance.

Once that goes we are good.

Secondly, my correlation chart is not working - I will try to re post it.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,198
  • Nov 30, 2010 7:29pm Nov 30, 2010 7:29pm
How's that for VOLUME
http://www.kitco.com/ind/Wyckoff/images/gold2a.jpg
[quote=jimobiwan;4208598]
Quoting XTrade
Slowly but surely my 1370 level has been cracked.

Looks like the USD and GOLD are somewhat positively correlated again

time to B R E A K O U T.

Hi XTrade,

Can you see vol? what is Vol tellling us?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,199
  • Nov 30, 2010 10:38pm Nov 30, 2010 10:38pm
[quote=XTrade;4211123]How's that for VOLUME
http://www.kitco.com/ind/Wyckoff/images/gold2a.jpg


Great volume ...

Gold is trying hard to break that 1388-1390... bulls are in
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #2,200
  • Dec 1, 2010 12:55am Dec 1, 2010 12:55am
bulls are in? what about 1406 1414? maybe gold will go back to 1350,ia that possible? everyone in the market is looking forward to the new record, humh, iy's time to go back.
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