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

  • #3,221
  • Mar 2, 2011 6:52am Mar 2, 2011 6:52am
Quoting nleitao
And you say that is wrong? i wish i could choose correctly those top and bottoms

Here is something to ponder, the trend only changes once, so over time you will do better trading the way it is going.
  • #3,222
  • Mar 2, 2011 9:15am Mar 2, 2011 9:15am
Great first post welcome aboard.

If you've been lurking you know that I have argued and stressed this point so many times and watched people here in this thread lose money blindly ]

"Because it's high it should reverse. Let me sell" Things don't work like that.

Someone in the swissy thread said "wow historical lows time to buy" guess where that pair is now? 100 pips lower and counting on the way down.

Gold is going to 1500 next.
As oil sits poised at 115 (brent) a barrel likely going to retest 150 if these crisis' keep happening which as you said there "aint" no damn shortage of them.......

Quoting 4cc
I still fail to see why, after 10 years of going up, some people are still trying to jump in front of a moving train, hoping it might stop and reverse. Yes, some s/r levels demand a closer look and some caution, and the lybia situation might fuel the current rally, but it's not like we're going to run out of crises any time soon.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,223
  • Mar 2, 2011 9:23am Mar 2, 2011 9:23am
Here is a chart with a simple Trend line to buy off. I have conveniently added in a yellow thumbs up for possible entry points.

One never going below the previous one. Sort of like my resting buy limit that never got hit.

A trend does not stop and reverse without serious intervention (multiple central banks) which rarely happens or a major fundamental reason or perhaps major sentiment change which is driven by fundamentals anyway so.....

see below

Keep in mind I had already dumped my prior trades to book profit at 1375 area from 1300 area.
Always good to take some profits off the table

ONe could have even bought 1414 and be 20 usd in the money right now.
Attached Image (click to enlarge)
Click to Enlarge Name: gOLD ENTRIES.GIF Size: 31 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,224
  • Mar 2, 2011 9:30am Mar 2, 2011 9:30am
As they click buy from the bullion dealer they are saying this!!!! It's ridiculous.

Good points - always follow your insight and no one else's.
All we can do here is discuss and help people make a decision. In the end it always has to come from within.


Quoting Dolph
When we look at gold prices, the mainstream media has been saying gold is too high,lots of supposedly good analysts have been saying gold is too high and can't go any higher and they have been saying it for a long time now. THEY ARE WRONG and have been proven wrong. The mainstream never saw it ------
I've a feeling that gold permabears are going to get repeatedly hurt.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,225
  • Mar 2, 2011 9:40am Mar 2, 2011 9:40am
Euro and Cable just broke some tough resistances.

Lets take a look at AUD and see if it can crack the old high....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,226
  • Mar 2, 2011 9:43am Mar 2, 2011 9:43am
X trade, your 4hr trend line is exactly the same as mine, i hope that means i am learning at last.

Problem is i don't have the positions which you are holding.

Good comments floating around, keep em coming.

I'm going to look for an entry as price pulls back into 4hr TAZ or test lower trend line.
  • #3,227
  • Mar 2, 2011 10:00am Mar 2, 2011 10:00am
Quoting XTrade

"Because it's high it should reverse. Let me sell" Things don't work like that.
exactly! you cant turn a huge ship like gold on a hair pin. there will most likely be many stages to a reversal if and when it comes and it could take years.

gold is clearly heading up at the moment, this means we buy pullbacks or what ever, untill it stops, when it starts going down we short pullbacks. simple.
  • #3,228
  • Mar 2, 2011 10:07am Mar 2, 2011 10:07am
Quoting XTrade
..........

Gold is going to 1500 next.
........
True...but i've made a plan to which i will stick to...i will sell @ 1450 all my positions (the orginal plan was to sell 5lots only at 1450 and let the rest run untill 1500) and i will wait for a re-test to 1400 or as close as possible to enter with 10lots and the plans will redo themselves after that.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.JPG Size: 190 KB
  • #3,229
  • Mar 2, 2011 10:12am Mar 2, 2011 10:12am


One day my account history is going to look like that
  • #3,230
  • Mar 2, 2011 10:44am Mar 2, 2011 10:44am
Quoting Dolph


One day my account history is going to look like that
LOL, im quite happy to have 550 USD profit on my lonely open position @1381 on my 0.10 Lot

heheh im not spending enought time in front of the PC to have the confidence to put other buy. i guess i will putt stop loss @1399 and let run without TP, then i can open more positions...
  • #3,231
  • Mar 2, 2011 1:32pm Mar 2, 2011 1:32pm
20min GC - just put in a downfork to show poss line of resistance - no real validation on the fork except for the quartile bounces - blue fork previously posted still in control i believe.....

beeb
Attached Image (click to enlarge)
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  • #3,232
  • Mar 2, 2011 2:35pm Mar 2, 2011 2:35pm
same GC20min chart as before showing perfect bounce from the blue Sliding Parallel......

beeb
Attached Image (click to enlarge)
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  • #3,233
  • Mar 2, 2011 10:32pm Mar 2, 2011 10:32pm
Good luck to you friend! I was paying you a compliment just so you know.
Good work.

Point being sometimes the best entries and exits are when no one is looking or expecting....

We cashed out at 1375 bought back and the trend didn't slow a bit. When you take profit at major support or resistance areas you always run the risk of losing some on a short covering bounce or a big buy bounce in which case your entry may not be as low as you would like.
(and i don't mean "you" riko )

Quoting riko2705
good luck
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,234
  • Mar 2, 2011 10:41pm Mar 2, 2011 10:41pm
Glad to see all you guys continually posting. Keep it up!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,235
  • Mar 3, 2011 2:16am Mar 3, 2011 2:16am
20min GC update - the SP fell but the move down has so far been held by the rising blue Median Line

beeb
Attached Image (click to enlarge)
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  • #3,236
  • Mar 3, 2011 5:01am Mar 3, 2011 5:01am
Quoting XTrade
Good luck to you friend! I was paying you a compliment just so you know.
Good work.

Point being sometimes the best entries and exits are when no one is looking or expecting....

We cashed out at 1375 bought back and the trend didn't slow a bit. When you take profit at major support or resistance areas you always run the risk of losing some on a short covering bounce or a big buy bounce in which case your entry may not be as low as you would like.
(and i don't mean "you" riko )
thank you
  • #3,237
  • Mar 3, 2011 5:28am Mar 3, 2011 5:28am
Gold formed a 4hr pin here, showing rejection of lower prices. if it wasnt quite as high i might have bought some gold here. If it was nearer the 1415 level.
Attached Image (click to enlarge)
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  • #3,238
  • Mar 3, 2011 6:41am Mar 3, 2011 6:41am
be wary of the numbers today and tomorrow

beeb
  • #3,239
  • Mar 3, 2011 6:57am Mar 3, 2011 6:57am
Looks like gold is moving towards a 'buy more' level, i'm not worried as long as it does not break the trend line from its low back in january.
  • #3,240
  • Mar 3, 2011 7:07am Mar 3, 2011 7:07am
Sometimes, you can have a ball when looking small.
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD.GIF Size: 31 KB
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