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

  • #3,141
  • Edited 3:16am Feb 26, 2011 3:01am | Edited 3:16am
Quoting mmudasir
gold is going down my recomendation is selling gold ...
Are you really that sure that gold is going down after closing above 1410 on friday?
  • #3,142
  • Feb 26, 2011 3:14am Feb 26, 2011 3:14am
Quoting musclemike
R U sure?
yes
Trading by EA
  • #3,143
  • Feb 26, 2011 3:15am Feb 26, 2011 3:15am
Quoting GiorgioM
Yes of course... so if you buy now at 1410$ and it drops 200$ to 1210$ you lose 2000$ which means that u have nothing left!

1 lot....10$down....100$loss
0.1lot..10$down.....10$loss
0.1lot...200$down...200$loss
0.1lot....1000$down...1000$loss
  • #3,144
  • Feb 26, 2011 5:34am Feb 26, 2011 5:34am
Quoting mmudasir
gold is going down my recomendation is selling gold it is time to reversing for more details email me.. in the 15 minutes chart harmonic w pattren is visible and confirm in 1 hour charts is confirming too head and shoulder with harmonic weekily pivots are shouing resistance area..so we looking to reversing ...
LOL, your indicators told you?
  • #3,145
  • Feb 26, 2011 5:48am Feb 26, 2011 5:48am
Quoting mmudasir
gold is going down my recomendation is selling gold it is time to reversing for more details email me.. in the 15 minutes chart harmonic w pattren is visible and confirm in 1 hour charts is confirming too head and shoulder with harmonic weekily pivots are shouing resistance area..so we looking to reversing ...
never sell gold.....buy the dips....

theres no way to produce Gold with a chemical method.....gold is getting rarer and rarer.... getting more expensive year by year.

anyway i stick to silver..... huge industrial demand of it.... will rise next 10 years as well.

metals are very very fundamental for the big run...technicals just give you some entry points and exits for scalps....anyway i dont like to scalp them... just add at the dips for long investments....

if they blow up and drop it like its hot....ok....bad luck....but all is pointing up ...
(anyway i recover all my silver longs step by step)

---> each new histo high will push the trend ....


jonas-.
Hero calls followed by margin calls...
  • #3,146
  • Feb 26, 2011 6:06am Feb 26, 2011 6:06am
Quoting PhAnTi'
never sell gold.....buy the dips....

if they blow up and drop it like its hot....ok....bad luck....but all is pointing up ...
...never could've said it better myself...it's like you've "stollen" my action plan )
  • #3,147
  • Edited 6:56am Feb 26, 2011 6:56am | Edited 6:56am
rsı has downward bias.lower ML still bears importance(~1403)
  • #3,148
  • Feb 26, 2011 7:59am Feb 26, 2011 7:59am
Quoting PhAnTi'
never sell gold.....buy the dips....

theres no way to produce Gold with a chemical method.....gold is getting rarer and rarer.... getting more expensive year by year.

anyway i stick to silver..... huge industrial demand of it.... will rise next 10 years as well.

metals are very very fundamental for the big run...technicals just give you some entry points and exits for scalps....anyway i dont like to scalp them... just add at the dips for long investments....

if they blow up and drop it like its hot....ok....bad luck....but...
Silver is rising so much because of monetary reasons... there is no way industrial demand alone can do that.
  • #3,149
  • Feb 26, 2011 9:18am Feb 26, 2011 9:18am
WELL PUT PHANTI

Quoting PhAnTi'
never sell gold.....buy the dips....

theres no way to produce Gold with a chemical method.....gold is getting rarer and rarer.... getting more expensive year by year.

anyway i stick to silver..... huge industrial demand of it.... will rise next 10 years as well.

metals are very very fundamental for the big run...technicals just give you some entry points and exits for scalps....anyway i dont like to scalp them... just add at the dips for long investments....

if they blow up and drop it like its hot....ok....bad luck....but all is pointing...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,150
  • Feb 26, 2011 10:39am Feb 26, 2011 10:39am
Quoting GiorgioM
Silver is rising so much because of monetary reasons... there is no way industrial demand alone can do that.
industrial demand has a lot do with the price itself.....

guess what would happen if a chemical professor invent a method to produce gold or silver?

: /
Hero calls followed by margin calls...
  • #3,151
  • Feb 26, 2011 11:14am Feb 26, 2011 11:14am
Quoting PhAnTi'
never sell gold.....buy the dips....

theres no way to produce Gold with a chemical method.....gold is getting rarer and rarer.... getting more expensive year by year......
Nothing goes up forever.

Demand has gotten stronger at the same time there is more and more gold produced. Demand outsrips supply so price rises. Nothing remarkable about that.

If demand goes down as supply keeps rising (who knows the answer to when this will happen) then the price will go down. Like it did in the late 80's and 90's, but just like the sun rises everyday there will be a day when gold goes back down.
  • #3,152
  • Feb 26, 2011 2:20pm Feb 26, 2011 2:20pm
Yes Gold will correct as we have seen the price drop to 1300.

Supply is tight and demand is strong.

Also, we are still in a global recession no matter if we get a good report here and there. Unemployment numbers are skewed. They do not account for part time workers, illegals, people who work off the books, etc.

The true rate of unemployment in the US is probably closer to 17 pct.

These factors as well as a distrust for many financial institutions and instruments, ie: flash crash, bernie made-off, etc. as well as unrest in the middle east all support safe haven buying.

There are many factors to take into consideration when speculating gold.
The days of USD down Gold up are long gone.

Any major dip will be bought by those demanding physical metal.
As well as trader looking to show fat books for their clients.

The stock guys will say "oh well gold doesn't pay a dividend" sure it does.
Buy low sell high and take profit. There is a dividend.

Gold also doesn't have a "board of directors" and a CFO who may be stealing money from the "books" to throw lavish parties, ie: TYCO.





Quoting SunTrader
Nothing goes up forever.

Demand has gotten stronger at the same time there is more and more gold produced. Demand outsrips supply so price rises. Nothing remarkable about that.

If demand goes down as supply keeps rising (who knows the answer to when this will happen) then the price will go down. Like it did in the late 80's and 90's, but just like the sun rises everyday there will be a day when gold goes back down.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,153
  • Feb 26, 2011 2:21pm Feb 26, 2011 2:21pm
This will not happen. So don't worry. If we can send men to the moon we could have made fake gold.

Quoting PhAnTi'
industrial demand has a lot do with the price itself.....

guess what would happen if a chemical professor invent a method to produce gold or silver?

: /
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,154
  • Feb 26, 2011 2:26pm Feb 26, 2011 2:26pm
At the moment there is nothing technically or fundamentally supporting a reversal.

The price is just below the record high.

I have had people come on here and tell me the price is reversing at 1250 to 800, selling and getting their asses handed to them while the rest of us are taking profit on 100 and 200 dollar moves.

Nor is a 15 minute chart going to show signs of a reversal. Sure maybe a 10 dollar dip, not a reversal.

Please elaborate on your theory.

Quoting mmudasir
gold is going down my recomendation is selling gold it is time to reversing for more details email me.. in the 15 minutes chart harmonic w pattren is visible and confirm in 1 hour charts is confirming too head and shoulder with harmonic weekily pivots are shouing resistance area..so we looking to reversing ...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,155
  • Feb 26, 2011 3:32pm Feb 26, 2011 3:32pm
Good comments XTrade - and look on the bright side, if there were no weak hands then the strong hands would find it that much more difficult to get hold of PM's....



have a good weekend all

beeb
  • #3,156
  • Feb 26, 2011 5:55pm Feb 26, 2011 5:55pm
Quoting XTrade
Nor is a 15 minute chart going to show signs of a reversal. Sure maybe a 10 dollar dip, not a reversal.

Please elaborate on your theory.
I think he got his theory from CNBC, gold is in a bubble you know... Hahaha!
15 minute chart reversal when commodity bull runs can go 17-25 years. LMAO.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #3,157
  • Feb 26, 2011 7:16pm Feb 26, 2011 7:16pm
Well I am thinking down next week for XAUUSD might be the way.

Based on prior resistance amid declining volume. But I won't act on it till there is at least one daily lower close:
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  • #3,158
  • Feb 27, 2011 2:30am Feb 27, 2011 2:30am
I am amazed by people's confidence in saying where gold will be in a week or two weeks time. I've been trading for nearly thirty years and I certainly couldn't say....

What I can do is look at a 10min or 20min chart and detect a trend off that. Likewise on a Daily chart I can say that gold is in an uptrend but is reaching prior resistance. If you are trading the shorter timeframes then it doesn't matter which way gold goes - you trade what is in front of you. If you are trading the Dailies you should have been long from a few weeks back when it touched the 150MA and not looking to go further long at resistance. Stops should be in place in case of a reaction and you should then be looking to go long again lower down. Breakout traders may want to buy should we break resistance - not my style though....

Too much talk about where it's going - it IS going up but not necessarily in a straight line....


beeb
  • #3,159
  • Feb 27, 2011 4:08am Feb 27, 2011 4:08am
Quoting beeb
I am amazed by people's confidence in saying where gold will be in a week or two weeks time. I've been trading for nearly thirty years and I certainly couldn't say....

beeb
Youve been trading a lot lot longer than me, but have realized the futility in making predicetions and forcasts. All i kow is gold gave me an entry signal twice in late january/early feb, the first long was at 1338, the second at 1363.

as long as the chart rises i will profit, if it falls i wont.

i also dont agree with the no shorting, there was a really nice short in silver(or it could have been done in gold) back in january(for me), but it depends in timeframes traded. this short was on the daily chart.
  • #3,160
  • Feb 27, 2011 4:28am Feb 27, 2011 4:28am
highlander - for a scotsman you make a lot of sense lol



beeb
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