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

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

#2,741
Jan 27, 2011 7:36pm Jan 27, 2011 7:36pm

XTrade
Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts

Gold is one of the worst falling knives to catch. Be careful _ dont HEDGE. get out take the loss. realize what you did wrong AND DONT DO IT AGAIN

Now if you are in profit from 1212 u may consider exiting on bounce.

always YOUR call in the end

Quoting vioilaunch

Disliked

so, I bought at 1212,3 as I waited but...am I trying to catch the knife? I think for today I will be ok....

Ignored

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

#2,742
Jan 27, 2011 9:31pm Jan 27, 2011 9:31pm

rastogiroh
| Joined Jan 2011 | Status: Trader | 20 Posts

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Heads and Shoulders did its part gold down to trendline
next supports are 200 days moving averages

#2,743
Jan 28, 2011 12:34am Jan 28, 2011 12:34am

MaaTini
| Joined Sep 2010 | Status: Trader | 91 Posts

I am a Newbe here

I just would like to ask some Senior Members about the Corelation of USD and Gold - is their anymore?

Will it come back anytime soon - or is it gone foreever?

Thanks for any Answer

Cheers

#2,744
Jan 28, 2011 2:08am Jan 28, 2011 2:08am

musclemike
| Joined Apr 2010 | Status: Trader | 285 Posts

Waitin' for the 1300 (psychological support) to buy and after that the 1270 trendline support

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#2,745
Jan 28, 2011 2:18am Jan 28, 2011 2:18am

roxen99
| Commercial User | Joined Jul 2009 | 105 Posts

Quoting MaaTini

Disliked

I am a Newbe here

I just would like to ask some Senior Members about the Corelation of USD and Gold - is their anymore?

Will it come back anytime soon - or is it gone foreever?

Thanks for any Answer

Cheers

Ignored

there is inverse relation between $ and major metals like gold and silver. When value of USD is going down people would buy physical metals (as investing in metals is considered as safe investment) which results increase in Gold price. On the other hand when price of USD is going up people would sell gold to buy USD. This selling pressure results in decreasing price of gold.

OPPORTUNITY LIES WHERE THE MAJORITY IS AFRAID TO GO....

#2,746
Jan 28, 2011 6:33am Jan 28, 2011 6:33am

Eren10
Joined Aug 2010 | Status: Trader | 1,761 Posts

the price of gold is close to the bottom of the increasing channel (since 2008) .

#2,747
Jan 28, 2011 9:42am Jan 28, 2011 9:42am

jimobiwan
| Joined Apr 2010 | Status: Trader | 478 Posts

seasonally the trrend is for Au to rocket through Chinese New Year to make a peak in late March.

I went long at 1312. considering to hold this for a longer run.

Todays rebound stronger than 2 days ago. Formidible resistance at around 1350-55 with multiple converging lines.

I retest or a base lower I see would be about the 1297 (200EMA on daily) and Psy level of 1300.

I have no enemy; I make Incautiousness my Enemy.

#2,748
Jan 28, 2011 10:09am Jan 28, 2011 10:09am

PhAnTi'
Joined Aug 2010 | Status: Tööröh | 14,292 Posts

Quoting musclemike

Disliked

Waitin' for the 1300 (psychological support) to buy and after that the 1270 trendline support

Ignored

watch chart. 1335, 1345 in play.

Hero calls followed by margin calls...

#2,749
Jan 28, 2011 10:11am Jan 28, 2011 10:11am

DBallerz
| Joined Dec 2007 | Status: Trader | 235 Posts

lol such a rollercoaster ride

#2,750
Jan 28, 2011 10:55am Jan 28, 2011 10:55am

Bootleger
| Joined May 2010 | Status: Dollar Bearish | 578 Posts

Great little come back

US Dollar is trash... Get out of that Ponzi scheme !!!

#2,751
Jan 28, 2011 11:37am Jan 28, 2011 11:37am

lilpip
| Joined Aug 2007 | Status: Trader | 2,219 Posts

missed out on the fun and festivities but as I look at the charts shes makin my head spin as she runs the gamit on the daily.
Also, thur. breakout did not hold .
27.85
27.15
26.45
gold daily
1346
1325
1304

#2,752
Jan 28, 2011 11:39am Jan 28, 2011 11:39am

starman45
| Joined Oct 2010 | Status: take it easy | 93 Posts

Quoting starman45

Disliked

We will see how to react to support 1327.
Currently, the immediate trend is down.
Chart daily.

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Ignored

Very good reaction, but I have to remember that we are still in downtrend.
Chart daily.

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#2,753
Jan 28, 2011 11:42am Jan 28, 2011 11:42am

GiorgioM
| Joined Sep 2010 | Status: Trader | 77 Posts

Can make it higher!

#2,754
Jan 28, 2011 11:46am Jan 28, 2011 11:46am

highlander2
| Joined Jul 2010 | Status: . | 893 Posts

Quoting roxen99

Disliked

im loading my longs...n im heavily bullish on gold and silver both

Ignored

hey bud, hope you were not stopped by the false break of 1314. weeky chart has a nice pin if it holds.

good call

#2,755
Jan 28, 2011 12:08pm Jan 28, 2011 12:08pm

XTrade
Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts

Out most of day _ howdy folks.

Seems 1307 has formed temporary bottom.

GDP number not as good as expected likely helped this move.

Nice climb today of appx 27 USD ATM.

As well as fear in Egypt.

We seem to have found a bottom temporarily and some bargain hunters and fundamentalists stepping in.

So who's long?

I closed my measly short with a few bucks on it. But this is the level I was looking for (actually appx 1303/5 to get long and test the psychology of 1300.

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

#2,756
Jan 28, 2011 12:10pm Jan 28, 2011 12:10pm

roxen99
| Commercial User | Joined Jul 2009 | 105 Posts

Quoting highlander2

Disliked

hey bud, hope you were not stopped by the false break of 1314. weeky chart has a nice pin if it holds.

good call

Ignored

yea i managed my trade very well...loving Gold and silver atm...my target for gold is 1450