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

  • #4,961
  • Apr 20, 2011 11:24pm Apr 20, 2011 11:24pm
Quoting forexcompoun
Hi all, let's expect a BIG resistance for silver @ 44.44 Happy trading! Meshach.
The above mentioned was my statement yesterday. Quite amazingly, SILVER has topped out for the time being on 4hr tf.
Find charts attached, first chart shows the view on 4hr tf while the second chart shows a cranked down view on 1hr tf.

Hope the charts help.
Happy trading!
Meshach.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: silver_4hr_top.gif Size: 18 KB
Click to Enlarge Name: cv_silver_4hr_top.gif Size: 19 KB
  • #4,962
  • Edited 1:04am Apr 21, 2011 12:15am | Edited 1:04am
Quoting lilpip
what ??? we have to wait on our push above 1506 ?
what do ya say 1501 ?
just trying to be a big tease are ya ?
as your sister did the previous day stopping at daily highs (44.13) and came back down to test for breakout of weekly high (43.94) and took off to the upside the next day.
tuesday high achieved (1506 -7) and she made us exercise patience as she waited on the next day to test the weekly high 1501 before moving thru.
thur daily
1513.33 with eye on 1509.16
1494.94
1486.61

silver with test of previous days highs (tue.44.13) goes on to break out from wed.daily highs (44.78).
thur.daily
46.14 with eye on 45.85 and how responds
43.68
42.67
  • #4,963
  • Apr 21, 2011 1:07am Apr 21, 2011 1:07am
$46 done, silver has some twin turbos fitted to it.

Is that 8 straight green candles on the daily?
  • #4,964
  • Apr 21, 2011 2:00am Apr 21, 2011 2:00am
Closed all my short positions. Buy at every dip.
No retrace to enter. So buy at any higher low in the lowwer time frame.
This gold is going up up up. Everyone is buying. i shouldnt go against it.

Regardless of fundamental or techical. Up up up all the way.
  • #4,965
  • Apr 21, 2011 2:11am Apr 21, 2011 2:11am
Quoting jinsen
Closed all my short positions. Buy at every dip.
No retrace to enter. So buy at any higher low in the lowwer time frame.
This gold is going up up up. Everyone is buying. i shouldnt go against it.

Regardless of fundamental or techical. Up up up all the way.
hmm, bad time to close short IMO, too much too long on the longs and Thursday always a good day for a raid plus the USDX needs some saving, it is just dismal so there will be some hollow talk from some FED members, maybe even benake himself.

If you said you closed your longs would have sounded better , especiallly in silver.
  • #4,966
  • Apr 21, 2011 2:20am Apr 21, 2011 2:20am
Quoting Euroscum
hmm, bad time to close short IMO, too much too long on the longs and Thursday always a good day for a raid plus the USDX needs some saving, it is just dismal so there will be some hollow talk from some FED members, maybe even benake himself.

If you said you closed your longs would have sounded better , especiallly in silver.
i hold my short all at 1480. I have to close. Althogh if i dont touch it. It can hold till 1640. I mostly trade currency. I had so much noise that every where everyone is talking buying. So i cut my loss and switch to buy buy.

But no worries. I dont need this money. I knew i gambling and so i had no argument point. After i lost all...i stick back to currency. lol
  • #4,967
  • Apr 21, 2011 2:42am Apr 21, 2011 2:42am
Definitely, the S&P negative rating was one of the last stabbing in the back of the USD. After the first shock, everybody is getting rid of their USD and buying whatever they can.

Next week there are at least three reasons to expect some strong volatility (for those who are waiting for dips):

* end of month - probably some profit taking

* options expiry - many times gold is pulled down at this time (manipulation?)

* FOMC meeting - who knows what those guys will come up with?
"The reason I was born and came into the world is to testify to the truth."
  • #4,968
  • Apr 21, 2011 2:58am Apr 21, 2011 2:58am
Quoting harvest3r
Definitely, the S&P negative rating was one of the last stabbing in the back of the USD. After the first shock, everybody is getting rid of their USD and buying whatever they can.

Next week there are at least three reasons to expect some strong volatility (for those who are waiting for dips):

* end of month - probably some profit taking

* options expiry - many times gold is pulled down at this time (manipulation?)

* FOMC meeting - who knows what those guys will come up with?
As Regards to the FOMC meeting, it is the first time the Bernake will give a news conference with Q+A. If he can back up with action on inflation it could be interesting.
  • #4,969
  • Apr 21, 2011 3:01am Apr 21, 2011 3:01am
Quoting Euroscum
$46 done, silver has some twin turbos fitted to it.

Is that 8 straight green candles on the daily?
I see 7... whatever. It's way too much. Seven days ago we were at $40. Up $1 per day. Up 15% in a single week.

Last month I posted my physical purchase of silver here. Some guys (not without reason) said that it was the wrong time, I should wait for dips, or DMA whatever. Very reasonable. But then I have to repeat you, Euroscum: "what dip? It's a straight line!"

It's a hard time for investors... Maybe it's better to save the money over the next months and switch to gold.
"The reason I was born and came into the world is to testify to the truth."
  • #4,970
  • Apr 21, 2011 3:49am Apr 21, 2011 3:49am
http://finance.yahoo.com/blogs/break...8&asset=&ccode

this guy is hilarious.
  • #4,971
  • Apr 21, 2011 4:03am Apr 21, 2011 4:03am
Quoting XTrade
Never know, 1500 to 1600 may be easier than 13 to 14. Just a thought....

i think it will happen soon we will see 50-100 dollar move in gold

had consolidated between 1300- 1400 for a while (8 months ) and now its going for it big move
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #4,972
  • Apr 21, 2011 4:07am Apr 21, 2011 4:07am
Quoting blue_z_zz
i think it will happen soon we will see 50-100 dollar move in gold

had consolidated between 1300- 1400 for a while (8 months ) and now its going for it big move
Price moves and consolidates. Resistance turns support and is proven. Why price would do that at 1300 - 1400 and then race up to say $1750 does not make sense to me.
  • #4,973
  • Apr 21, 2011 4:12am Apr 21, 2011 4:12am
Quoting six gun
Price moves and consolidates. Resistance turns support and is proven. Why price would do that at 1300 - 1400 and then race up to say $1750 does not make sense to me.


You should be enjoying spain Get outside for cafe con leche
  • #4,974
  • Apr 21, 2011 4:14am Apr 21, 2011 4:14am
Quoting Euroscum
http://finance.yahoo.com/blogs/break...8&asset=&ccode

this guy is hilarious.
Yeah, funny. I just can't ever recall Mass Media calling a bubble correctly. Plus, if you look at the bottom of the article they are pushing paper instruments, like SLV. I even watched a CNBC segment where they were bullish the SLV. This pretty much is a good sign that the paper is going to crash and the physical is going to skyrocket.

I was also confused why CNBC was pushing SLV until I learned it is the only paper 'backed' by silver that can be shorted, the other ETF's ETN's cannot. Very interesting indeed.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #4,975
  • Apr 21, 2011 4:23am Apr 21, 2011 4:23am
Quoting Euroscum
You should be enjoying spain Get outside for cafe con leche
I'm having my cup of tea. I love my cuppa tea.

Longs are making lots of money on silver but to my mind the run up has got short term bubblish now. The trend is up no doubt. Stay with the trend but be 110% alert that price is way overextended now.

ps it is still cold for southern Spain and the sky is dark with rumbles of thunder. Its going to rain hard in a minute.
  • #4,976
  • Apr 21, 2011 4:30am Apr 21, 2011 4:30am
Quoting LasVahGoose
Yeah, funny. I just can't ever recall Mass Media calling a bubble correctly.....
The mass media have always called the bubble burst, but almost invariably back to front.
When they talk too much about something and they are recommending "babes in arms" to buy the product as a long term investment then you know the bubble is about to burst.
  • #4,977
  • Apr 21, 2011 4:40am Apr 21, 2011 4:40am
Quoting six gun
The mass media have always called the bubble burst, but almost invariably back to front.
When they talk too much about something and they are recommending "babes in arms" to buy the product as a long term investment then you know the bubble is about to burst.
So when the media is telling you something is in a bubble...?????
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #4,978
  • Apr 21, 2011 4:43am Apr 21, 2011 4:43am
Quoting LasVahGoose
Yeah, funny. I just can't ever recall Mass Media calling a bubble correctly. Plus, if you look at the bottom of the article they are pushing paper instruments, like SLV. I even watched a CNBC segment where they were bullish the SLV. This pretty much is a good sign that the paper is going to crash and the physical is going to skyrocket.

I was also confused why CNBC was pushing SLV until I learned it is the only paper 'backed' by silver that can be shorted, the other ETF's ETN's cannot. Very interesting indeed.

Have to admit the bit about Ponzi was funny though. The guy was pretty dismissive about the conspiracy theory guys like you LasV he said do not write in.

As for SLV, lots of shorts coming out, but can you afford it

http://www.cnbc.com/id/42686875
  • #4,979
  • Apr 21, 2011 4:47am Apr 21, 2011 4:47am
Quoting Euroscum
Have to admit the bit about Ponzi was funny though. The guy was pretty dimissive about the conspiracy theory guys like you LasV he said do not write in.

As for SLV, lots of shorts coming out, but can you afford it

http://www.cnbc.com/id/42686875
That fact the he would link conspiracy theories to his argument is even more proof they are trying to keep the public from buying while institutions continue to accumulate physical and start taking delivery. Plus the guy looks like douche bag used car salesman.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #4,980
  • Apr 21, 2011 5:12am Apr 21, 2011 5:12am
Quoting LasVahGoose
So when the media is telling you something is in a bubble...?????
Keep buying.
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