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

  • #3,041
  • Feb 22, 2011 6:59am Feb 22, 2011 6:59am
Quoting lilpip
bounce @ pivot 1391 noted, lets get above 1397 and 1402 and will be on the way.
eyes open 1402 and 33.26
  • #3,042
  • Feb 22, 2011 7:01am Feb 22, 2011 7:01am
Quoting highlander2
Your right, in fact when i see all the amateurs on social networking sites and on yahoo answers all ranting about buying gold, it almost puts me off buying it myself!

gold will go up and it will go down, im not buying into this idea of doubling your money in a few months like some seem to think. just taking ech day as it comes and looking for my criteria to enter a trade. long or short...

Try reading zerohedge. Those guys are buying guns and tinned food for armageddon.
  • #3,043
  • Feb 22, 2011 7:10am Feb 22, 2011 7:10am
Quoting kamen
beeb,

how to know the market turn to bearish?or at least bearish momentum more powerful than bullish?when i saw daily chart it show overbought.cci also start to heading south.personally i feel silver 34 is too high..
i hope it can fall again until 26 before i can start bundle again.but at the same time i worry if bullish go further until 50..really headache.

i prefer to be as a long term trader..but the problem is, if i buy more at 34 or 33 then suddenly trend change to bearish so it make me hurt..can u help me?
kamen - i can't help you because i don't know you. and even then i wouldn't do so because i would not want to be responsible for your money

if you are not confident in your own abilities, as i said before, i would suggest you entrust your funds to a professional because if you don't know what you are doing you WILL lose your money.

meanwhile i suggest you use the internet and learn, as there is plenty of information out there - google is your friend (that is not a share tip btw) - find out about technical analysis and fundamentals and possibly run a DUMMY account to get used to the idea of trading......

again - i emphasise this for your own benefit - if you are not confident in what you are doing do not put your money into the market

all the best

beeb
  • #3,044
  • Feb 22, 2011 7:12am Feb 22, 2011 7:12am
Quoting Euroscum
Try reading zerohedge. Those guys are buying guns and tinned food for armageddon.
tinned food will be worth more than gold if things were to get bad, really bad.

an increasing world population+ dwindling resources and oil can only end one way.

And those who think that bio fuel will make up the difference are also wrong, you cannot burn the planets soil for fuel, because this in a sense it what it is.

This idea that everything will just get better and better is misplaced in my view, the world simply cannot sustain the rate of growth.
  • #3,045
  • Feb 22, 2011 7:16am Feb 22, 2011 7:16am
Quoting kamen
beeb,

how to know the market turn to bearish?or at least bearish momentum more powerful than bullish?when i saw daily chart it show overbought.cci also start to heading south.personally i feel silver 34 is too high..
i hope it can fall again until 26 before i can start bundle again.but at the same time i worry if bullish go further until 50..really headache.

i prefer to be as a long term trader..but the problem is, if i buy more at 34 or 33 then suddenly trend change to bearish so it make me hurt..can u help me?
kamen the guys that are moving the market are not looking at overbougt oversold indicators.

I suggest you start learning more about "price action" and learn to see the true market rather than lagging indicators. Thses should only be used for a slight help at the very most.
  • #3,046
  • Feb 22, 2011 7:21am Feb 22, 2011 7:21am
Quoting highlander2
tinned food will be worth more than gold if things were to get bad, really bad.

an increasing world population+ dwindling resources and oil can only end one way.

And those who think that bio fuel will make up the difference are also wrong, you cannot burn the planets soil for fuel, because this in a sense it what it is.

This idea that everything will just get better and better is misplaced in my view, the world simply cannot sustain the rate of growth.
cool, just noticed you had your own tv show.will tune in.
  • #3,047
  • Feb 22, 2011 7:24am Feb 22, 2011 7:24am
Quoting Euroscum
Wait until see what the yanks do when they get out of bed.
Absolutely. I expect a lot of turbulence, but I have hope that they will bring gold back above 1400. Forever. Next stop: retest of the all-time highs. Then: 1453.

I loaded 32 oz from 1389 to 1398. TP at 1430 and 1445. It will be frustrating if they get stopped...
"The reason I was born and came into the world is to testify to the truth."
  • #3,048
  • Feb 22, 2011 7:24am Feb 22, 2011 7:24am
Quoting lilpip
eyes open 1402 and 33.26
its showtime !
which way ya gonna go ?
sure acts like she wants to climb.
  • #3,049
  • Feb 22, 2011 7:35am Feb 22, 2011 7:35am
Quoting lilpip
its showtime !
which way ya gonna go ?
sure acts like she wants to climb.
yup,seems so
good luck
  • #3,050
  • Feb 22, 2011 7:39am Feb 22, 2011 7:39am
Sorry to stray off topic guys and thanks to beeb for initial help but i cant post any charts.

MT4, save as pic, active chart 500 x 500 pixels, attachements. but Forexfacory still says its just too big. Which is a problem i often have http://www.forexfactory.com/images/icons/icon10.gif

Any help much appreciated, i've looked in other threads but they are useless.

Thanks.
  • #3,051
  • Feb 22, 2011 7:45am Feb 22, 2011 7:45am
Quoting lilpip
cool, just noticed you had your own tv show.will tune in.
take it your being sarcastic? hehe
  • #3,052
  • Feb 22, 2011 7:55am Feb 22, 2011 7:55am
Quoting highlander2
take it your being sarcastic? hehe
no, i was interested in what you got goin there.
  • #3,053
  • Feb 22, 2011 8:03am Feb 22, 2011 8:03am
Dolph

I don't use mt4 so can't advise you what to do there - but to attach charts afaik you have to upload from your pc - that's what i do using the method explained.....

beeb
  • #3,054
  • Feb 22, 2011 8:10am Feb 22, 2011 8:10am
Quoting Dolph
Sorry to stray off topic guys and thanks to beeb for initial help but i cant post any charts.

MT4, save as pic, active chart 500 x 500 pixels, attachements. but Forexfacory still says its just too big. Which is a problem i often have http://www.forexfactory.com/images/icons/icon10.gif

Any help much appreciated, i've looked in other threads but they are useless.

Thanks.

http://www.picresize.com/ resize it
  • #3,055
  • Feb 22, 2011 8:18am Feb 22, 2011 8:18am
Thanks beeb & Euroscum.

i will give that a go.

Just added a bit more to my long position due to solid 4hr engulfing pattern in 4hr TAZ.
  • #3,056
  • Feb 22, 2011 8:23am Feb 22, 2011 8:23am
Quoting lilpip
no, i was interested in what you got goin there.
  • #3,057
  • Feb 22, 2011 8:49am Feb 22, 2011 8:49am
Quoting lilpip
eyes open 1402 and 33.26
From where did you get those values?

Gold is holding around 1402-1404 now. I was expecting more action.

Maybe someone is waiting for Gaddafi's next breaking news?
"The reason I was born and came into the world is to testify to the truth."
  • #3,058
  • Feb 22, 2011 11:02am Feb 22, 2011 11:02am
Closed out at 1405 due to strong resistance. Reckon gold may test 1385 overnight and this will trigger me back in long.

If not i will take a long bias from any range formed overnight looking ideally for support to hold around 1393.
  • #3,059
  • Feb 22, 2011 3:36pm Feb 22, 2011 3:36pm
Quoting highlander2
kamen the guys that are moving the market are not looking at overbougt oversold indicators.

I suggest you start learning more about "price action" and learn to see the true market rather than lagging indicators. Thses should only be used for a slight help at the very most.
Could you suggest which indicators (non-lagging) you're referring to? Or maybe starting point(s) that one could learn from?

Much appreciation.

Wile E
  • #3,060
  • Feb 22, 2011 3:52pm Feb 22, 2011 3:52pm
Quoting Wile E
Could you suggest which indicators (non-lagging) you're referring to? Or maybe starting point(s) that one could learn from?

Much appreciation.

Wile E
I would say every indicator lags to some degree, except perhaps volume, things like stochastics and rsi all "follow" price, so for example when price goes down and then comes up the stochastic will go down and and the two lines will cross and it will go up to. price caused the stochastic to do this, not the stochastic causing the price to reverse.

Now dont get me wrong, some indis can help, but thats all, personally the only one i would use is the rsi, and ONLY using diivergences to indicate a turn in trend, but i need to back this up with price action and other technicals like support and resistance.

mostly i trade of a bare chart, only using ema's as dynamic s&r.

Price action is how i trade, pin bars are my bread and butter, the pin bar in gold on the 10th of feb daily chart has put me in a nice winning trade here. i suggest you search for "price action" and have a look. my blog has some stuff on ths too.
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