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

sure it is

now ı am trying to predict where ıt is right now, thats why 4 h .

where does gold go from these 1395-97 levels...
is any further correction possible.. to wat levels..
i am long on gold @ 1401

Now it is a range 1392-1406. I would be short from 1406 with a decent stop and I would be long from 1392 with a decent stop. This is on a short time frame but any time soon it is going to blow out in one direction like a japanese nuclear reactor.

thank you

convergence on 4 hr RSI is very enticing but i'm sticking to my plan which is to wait for decent daily bullish price action.

1392 is my target price where i expect to see some developments. ideally i would like to see a false break to the south with a strong reversal closing back above this level with RSI convergence.

wow... 300 pips in 10 minutes in USDJPY. I wanted to see the new record low and witnessed an explosion. For sure some barrier was broken. There were some spikes in other currencies, too.

We may see some fireworks in 10 minutes from now, when gold opens again. Hopefully not so extreme.

What direction do you think these fireworks will head?

Pretty insane stuff, Im not even bothered about trading. This kind of price action drives traders wild, but theres nothing worse for destroying an account. Huge spreads and massive volitility.

False alarm. It jumped slightly up, now it's slightly down.

Actually we had luck. If the gold market were open when this USDJPY barrier was broken, we might have suffered some bigger movement in the precious metals too. Now everything is stabilizing.

This is the reason guys. I have gone long usd/jpy, BOJ will be buying under 80, also at the same time XAG/XAU went nuts

EW YORK (Dow Jones)--The dollar plummeted against the yen in after-hours New York trading Wednesday, hitting a series of all-time lows against the Japanese currency as stop-loss orders triggered the greenback's fall to uncharted territory.
In extremely volatile trading, the dollar fell as low as Y76.25, breaching its previous record low of Y79.75, which had stood since 1995.
The dollar also hit an all-time low against the Swiss franc, dropping below CHF0.9000 to hit CHF0.8922.
The selloff in the dollar picked up furiously after it broke below the Y79.75 level.
The dollar's decline against the yen below the long-established level triggered a cascade of stop-loss orders tied to options, including exotic bets on the yen, traders said.
Banks that sold these yen options previously hedged their potential payouts to the buyers, but are now dumping the hedges since the options are worthless. That is helping send the dollar lower against the yen.
Thin liquidity in markets as New York exited trading before any other major financial center came online also exacerbated the dollar's selloff, said Brian Dolan, chief currency strategist at Forex.com in Bedminster, N.J.
Investors have piled into the yen as speculators have presumed insurers and other corporations will soon have to repatriate funds to Japan for insurance payouts and reconstruction costs.
"Speculators are front-running on months' worth of repatriation" expected in devastated Japan and which has happened little so far, said Michael Woolfolk, senior currency strategist at BNY Mellon in New York.
The move puts currency traders on high alert for signs of intervention in currency markets by Japan to stem yen strength.
With the dollar having tumbled so dramatically, Japan has "a lot of rope to try to hang" speculators with when, and if, it intervenes and forces the dollar higher, Woolfolk said.

you mean gold and silver drop?

ı bought gbp / jpy at 124.50

good luck

Interesting. Forex has many surprises!

I was only curious to see the record low being broken. But after this "crash", I couldn't resist and entered long around 76.50: EUR 220 profit. And I'm out.

Yes, surely the BOJ will intervene. It's almost a no-brainer trade. But I'm not going to risk anything anymore. My part is done, the profit is in the pocket and I even helped the BOJ Maybe I get a GOLDEN medal of honor!

Now it's time to sleep. Take care, guys. Trade safe (as far as you can). Gold is trying to go down...

Little expansion of range. No real USD strength.

This may be a good time to BUY SOME PHYSICAL METAL.

More analysis later.

Swissy has reached and breached my target of .9000 and below..
hope you guys are holding short.

Link to updated chart and posts will be added below.
X

Setups and some analysis
http://www.forexfactory.com/showpost...postcount=1438
Follow up to call
http://www.forexfactory.com/showpost...postcount=1496

gold has simply screwed me up.. Twice in 3 days, wen i have a long position, it will simply crash.. 300 pips in d red.. jst dunno wat 2 do...

Stay out of it or be patient ? Gold is not going to run away, but when 300 pips is a problem gold might be too volatile for you anyway..

Will be buying silver:

[quote=Orbital;4478189]Will be buying silver:

Wat about gold...? wat do u think abt its move now from 1389 levels...

Bought gold:

300 pip stop in gold is like having a 8 pip stop on EUR/USD. Unless you can pick perfect tops and bottoms that seems really tight.

Dats not my stop..
actually m long on gold from 1403 levels.. 20 ounce deal..
so currently its USD 300 loss...
Any chance of recovery today...?