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

  • #2,541
  • Jan 11, 2011 9:12am Jan 11, 2011 9:12am
That was very nice entry around 1383http://cdn.forexfactory.com/images/s.../yim/happy.gif

Testing broken TL
365 EMA on H1 which gold respects a lot

we will seehttp://cdn.forexfactory.com/images/s.../yim/happy.gif

srry for my english http://cdn.forexfactory.com/images/s.../yim/happy.gif
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  • #2,542
  • Jan 11, 2011 9:30am Jan 11, 2011 9:30am
Quoting alm00st
That was very nice entry around 1383http://cdn.forexfactory.com/images/s.../yim/happy.gif

Testing broken TL
365 EMA on H1 which gold respects a lot

we will seehttp://cdn.forexfactory.com/images/s.../yim/happy.gif

srry for my english http://cdn.forexfactory.com/images/s.../yim/happy.gif
Im looking for longs now. High volume on support... I don't know if it will fall.
  • #2,543
  • Jan 11, 2011 11:47am Jan 11, 2011 11:47am
I'm with you on this.

I have been a bit tied up and un-able to post much.

Gold has broken the offshoot uptrend line from the major uptrend line.
We are in a bit of an odd spot. It is a new year and there is the possibility of range. The metal made 3 record highs in a very short term with similarly drastic selloffs after each high.

Looking at the chart (daily) if we correct down to the major uptrend line we will end up around 1250 I will definitely be buying physical metal here.
appx 200 $ off the high will make a difference in the premiums.

Sometimes it's ok to buy when the metals are a tad bit high only because when they drop too far too fast dealers simply inflate the premium over spot to compensate on what could be a loss. I would imagine most large PM dealers actively hedge with futures contracts...

On the flipside if Gold continues to pair gains in the 1300 + level we could range a bit and continue up... Hard to say. A lot will be riding on the performance of the USD and other currencies.

Agree also 2000 is very possible for 2011.

Try to post a chart later


Quoting LasVahGoose
No, I have no idea how to trade. haha!

I see gold correcting to near term 1330 and maybe a mid term 1250 before go 2000+. Just my thoughts, I really have no idea what gold is going to do. I do know at 1250 (if it makes there) I'll be buying physical metal.

*** Not in any gold trades right now, just fyi.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,544
  • Jan 11, 2011 11:51am Jan 11, 2011 11:51am
In the shorter term sense Gold is coming back in afternoon trade after the dip and looks like it wants to reclaim 1400 at some point in the next sessions.

long from appx 1370 atm....

Silver as well looking to edge higher.

long @ appx 29.

The possibility of $50 silver seems more real day after day as well///
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,545
  • Jan 11, 2011 11:05pm Jan 11, 2011 11:05pm
Waiting for gold to break 1393 to have a long confirmation.
  • #2,546
  • Jan 12, 2011 2:35pm Jan 12, 2011 2:35pm
Have a look on the XAU/USD daily chart and the 4 hour chart, gold is about to take off.

1.400 by the end of the week possibly even higher to retest 1.425.

I'm long at 1380 ;-D

This is my 2 cents..

Regards
  • #2,547
  • Jan 13, 2011 5:17am Jan 13, 2011 5:17am
Orange line is a multiYear uptrend line.

I'll wait for 1355 first.
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  • #2,548
  • Jan 13, 2011 7:03am Jan 13, 2011 7:03am
Where is Gold headed? It's been moving sideways lately. I just can't figure it out.

Any ideas guys?
  • #2,549
  • Jan 13, 2011 7:55am Jan 13, 2011 7:55am
Now it's clearly moving up, we're now above 1390, euro is gaining strenght at the same time
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #2,550
  • Jan 13, 2011 8:33am Jan 13, 2011 8:33am
Quoting jacob_ice
Where is Gold headed? It's been moving sideways lately. I just can't figure it out.

Any ideas guys?
See Fawaol's chart. The red line is the current trend support, now around 1365. It has been tested many times and held well.

The short-term target is a new test of the all-time highs, as Nectarios said today. We just jumped above 1390, very soon we will be back to the 1400's (maybe today? maybe tomorrow?)

Yes, we are trapped in a channel. But in the next days there will be no escape: either there is a breakdown going north, or the trend will be broken and we go south.
"The reason I was born and came into the world is to testify to the truth."
  • #2,551
  • Jan 13, 2011 12:48pm Jan 13, 2011 12:48pm
Quoting harvest3r
See Fawaol's chart. The red line is the current trend support, now around 1365. It has been tested many times and held well.

The short-term target is a new test of the all-time highs, as Nectarios said today. We just jumped above 1390, very soon we will be back to the 1400's (maybe today? maybe tomorrow?)

Yes, we are trapped in a channel. But in the next days there will be no escape: either there is a breakdown going north, or the trend will be broken and we go south.
Thanks for the elaborative reply. I'm a bit skeptical to enter a position. So I'll wait until a trend has fully developed. Thanks for the input. Much appreciated.
  • #2,552
  • Jan 13, 2011 2:51pm Jan 13, 2011 2:51pm
Quoting fawaol
I'll wait for 1355 first.
I like 1355 as well, then I'll be looking at price action for 1321 and then 1280.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #2,553
  • Jan 13, 2011 2:52pm Jan 13, 2011 2:52pm
I don't know about you guys, but the weekly has just turned quite nasty. We could see 1350 area tomorrow if we don't keep 1360 in the next 12 hours. Silver looks even worse, daily stopped so far at MA50.
And all these - while USD falls !! Has anybody the volumes for today? Maybe somebody had to cover some positions because of 300+pip EUR rise?? just my2c...
  • #2,554
  • Jan 13, 2011 3:58pm Jan 13, 2011 3:58pm
Quoting vioilaunch
I don't know about you guys, but the weekly has just turned quite nasty. We could see 1350 area tomorrow if we don't keep 1360 in the next 12 hours. Silver looks even worse, daily stopped so far at MA50.
I think tomorrow we will see 1380 again.
Hardly belive in targets lower 1370. Next week.
  • #2,555
  • Jan 13, 2011 5:08pm Jan 13, 2011 5:08pm
Black friday
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  • #2,556
  • Jan 13, 2011 7:44pm Jan 13, 2011 7:44pm
i think Gold will go down recent up was testing daily up broken trend

i have sell @ 1375.00 with stop loss 1395.00 target 1327.00
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  • #2,557
  • Jan 14, 2011 2:21am Jan 14, 2011 2:21am
Quoting fxswing
Hello traders,

Starting to build a short XAU/USD from here at 1383.00.
Daily and above time frames are still long, so this trade should be considered as a counter trend trade with NO complacency for the stops.

Trade will be invalidated if the next 4H candle close above 1387.
Trade positive signal would be a daily close below 1376.40

Trade TF: 4H chart
Trade logic: Shorting the first pullback after a trend change below the 200 sma, the BBL serving as a resistance
Target 1: A new low, below the latest one at 1.352
Target 2: Below 1330
Target...
Short Trade follow up:

Trade still valid in 4H time frame.
Took some heat yesterday, but no demand above the 200 sma 4H, spiking and can't close above it, bulls should start to feel uncomfortable, seeing they can't push higher above the BBL...

Breakdown level for adding shorts to the trade is closing below 1371.90 in the next 4H.
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Getting it right is NOT as important as not getting it wrong.
  • #2,558
  • Jan 14, 2011 6:40am Jan 14, 2011 6:40am
Waiting for the 4h candle to close and if it's above 1368 will add more long. The support built from 22.10.2010 is pretty strong if it's not broken will ad more longs.
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  • #2,559
  • Jan 14, 2011 7:09am Jan 14, 2011 7:09am
Quoting musclemike
Waiting for the 4h candle to close and if it's above 1368 will add more long. The support built from 22.10.2010 is pretty strong if it's not broken will ad more longs.
Looks like you're doing the exact opposite of what I do at 1368.
A buyer, a seller, looks like we have a market

Getting it right is NOT as important as not getting it wrong.
  • #2,560
  • Jan 14, 2011 7:38am Jan 14, 2011 7:38am
US Retail sale and Core sales are below expectations, this should support Gold. The key is to get above 1.370 before the end of the day.

What are your thoughts?
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