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

  • #5,221
  • Apr 25, 2011 10:56pm Apr 25, 2011 10:56pm
Quoting Pratik
Waiting for 1475-80 levels to enter..!!
You may want to wait for 1450 or lower by the end if this week
  • #5,222
  • Apr 25, 2011 11:06pm Apr 25, 2011 11:06pm
1496 area as aforementioned. 4 H1 candles formed - entered.

All the higher trades closed some winners some losers. As scalps. The Gap trades were the best scalps for Sunday open closed this AM...

See chart below.. Let's see how it goes.

I'll Hold this one unless PA dictates closure and re-entry. I have orders set below...


Quoting XTrade
Here's a snap of the fork, if price tests lower I am looking at

1496 and 1481 for entries.....
Attached Image (click to enlarge)
Click to Enlarge Name: gold 1496.GIF Size: 15 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,223
  • Apr 25, 2011 11:08pm Apr 25, 2011 11:08pm
Quoting Fmfx
You may want to wait for 1450 or lower by the end if this week
I can see 1450 if we break through 1475. 1430 for me is the MAJOR support level I'll be watching.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,224
  • Edited Apr 26, 2011 12:13am Apr 25, 2011 11:27pm | Edited Apr 26, 2011 12:13am
Quoting Euroscum
I am seeing pump stuff like this everywhere now. Well I have been seeing it for 2 months but now it is just nuts the amount of material
with the bulls momentum taking price to the anticipated $50 area
brings alot of hoopla. Its kinda like the superbowl with radio row and media discussing issues and angles from nothing to everything and becoming bigger than life and whats at hand.
let them write, have fun with all the hype, Its the boy coming out of grown men.
The stage is set for the year @ the projected yearly highs $51.00 area with the bulls verses bears.
although this is at hand, the focus is a day at a time as usual with head on a swival.
with that said yesterday, we dropped back from yearly highs, weekly highs, daily highs and found support at daily pivot or trend guide.

today we dropped below tue.daily trend guide 46.45 . with eye on 44.82 response.
so bias is down from yearly highs, weekly highs, daily highs and down from 46.45 (days bias changes up if trading above 46.45) also, keeping in mind a new monthly timeframe approaching.

and were back up to 46.45, lets see how she responds.

apmex wants your silver, im waiting for a higher bidder.
http://www.zerohedge.com/article/apm...ts-3-over-spot
  • #5,225
  • Apr 25, 2011 11:48pm Apr 25, 2011 11:48pm
A bit interesting all the people are suddenly talking about support, correction and etc. I could have got killed a few days ago talking about a major sell off coming... Oh, well.

Initial short at 1518, added a few more at 1508 with TL open
  • #5,226
  • Apr 25, 2011 11:53pm Apr 25, 2011 11:53pm
Quoting Fmfx
A bit interesting all the people are suddenly talking about support, correction and etc. I could have got killed a few days ago talking about a major sell off coming... Oh, well.

Initial short at 1518, added a few more at 1508 with TL open
What's your TP target?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,227
  • Apr 26, 2011 12:13am Apr 26, 2011 12:13am
Quoting fontu
sure , my sleeping time already over 1:45 am , yet explaing my gold chart in picture ,just the last wave , price action at the same time not further fall at this present status at least now as there overlapping to conform abc correction done & up should go for bigger b wave or if all done by this correction any way continue up with impulse next , wave 2 down after the breaks wedge to down side & up from any support over the previous low ..

same overlapping problem in usdx & price may not up further without move down for next decision , try if...
unfortunately not worked I see , gold followed waves in lower tf to continue the retracement anyway and usdx managed to up again within the old expanding triangle I see & eu fell to the support 1.4503 . nothing great or may be but just lost the trade overnight sl tight . one more wave may or not down in gold to end retracement , only buy will do at & below .lets see .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu3.gif Size: 14 KB
Click to Enlarge Name: eu2.gif Size: 11 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #5,228
  • Apr 26, 2011 12:34am Apr 26, 2011 12:34am
Quoting XTrade
1496 area as aforementioned. 4 H1 candles formed - entered.

All the higher trades closed some winners some losers. As scalps. The Gap trades were the best scalps for Sunday open closed this AM...

See chart below.. Let's see how it goes.

I'll Hold this one unless PA dictates closure and re-entry. I have orders set below...
Nice one x trade and great thread btw,I'm waiting for the 80 area, lots of confluence there.

Just because there is a retrace doesn't mean the sky is falling in, even if its is deeper and more complex than prior ones.
  • #5,229
  • Apr 26, 2011 12:59am Apr 26, 2011 12:59am
Quoting lazyboy
Nice one x trade and great thread btw,I'm waiting for the 80 area, lots of confluence there.

Just because there is a retrace doesn't mean the sky is falling in, even if its is deeper and more complex than prior ones.
Yeah , true . good understanding & good thread for sure & X trade quiding great .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #5,230
  • Apr 26, 2011 1:01am Apr 26, 2011 1:01am
Any ideas on SILVER entry for support or is she DEAD DUCK?
who raped silver !
  • #5,231
  • Apr 26, 2011 1:29am Apr 26, 2011 1:29am
Quoting kfx3001
Any ideas on SILVER entry for support or is she DEAD DUCK?
Looks like Silver bounced off the support at 45.31. Resistance at 46.88

Not sure if this is a good entry though
Fall seven times, stand up Eight! #GGMU
  • #5,232
  • Apr 26, 2011 1:38am Apr 26, 2011 1:38am
Quoting kfx3001
Any ideas on SILVER entry for support or is she DEAD DUCK?
It is reviving itself as I was typing this..
  • #5,233
  • Apr 26, 2011 1:50am Apr 26, 2011 1:50am
The overlapping trouble again back , usdx falling , eu to up & gold too but need a confirmation breaks & hold 1504.45.
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.gif Size: 11 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #5,234
  • Edited 2:51am Apr 26, 2011 2:38am | Edited 2:51am
Quoting vickym
Looks like Silver bounced off the support at 45.31. Resistance at 46.88

Not sure if this is a good entry though
yes . it already off , more advanced than gold .gold now only going for the confirmation 1504.45 breaks .
fontu

done for gold also now .Better care also gold at 1506.95 & silver 47.06 for just precaution as they break also for next confirmation up..
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.gif Size: 7 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #5,235
  • Apr 26, 2011 2:48am Apr 26, 2011 2:48am
If anybody posting that it's the end of the world or at least of the precious metals bull run has some serious technical analysis to add it would be appreciated. It's very boring to read "I told you to short etc etc...." - let's face it sooner or later somebody has to be right...

Markets correct - that doesn't mean the bull is finished, it means that the market is refreshing itself for further highs.

There's no point in just banging on about "I was right, it's lower than when I last posted" - there are a number of people here who could probably retort "Gold is higher than when I bought at $250....."

If you want to add to the discussion that's great - if you want to blow your own trumpet because you got lucky once then I'm sure you'll end up on plenty of ignore lists....

For the umpteenth time - remember that the market is likely to have some opex and rollover swings and that we're coming off a long weekend for London and that there are further bank holidays Friday and Monday....

FWIW With gold I have been lightening my longs from low 1300s buys since we approached 1500 and am looking for further dips to reload on the daily timeframe...

beeb
  • #5,236
  • Apr 26, 2011 2:59am Apr 26, 2011 2:59am
Quoting fontu
yes . it already off , more advanced than gold .gold now only going for the confirmation 1504.45 breaks .
fontu

done for gold also now .Better care also gold at 1506.95 & silver 47.06 for just precaution as they break also for next confirmation up..
So you think Silver could retest $50 soon?
Fall seven times, stand up Eight! #GGMU
  • #5,237
  • Edited 4:06am Apr 26, 2011 3:04am | Edited 4:06am
Quoting vickym
So you think Silver could retest $50 soon?
on the way to do so , nothing so direct though , to follow pa & any changes if .

still not reacting much with usdx , let it break first down to enter& continue the great disaster ever seen before so can expect more unrest ,bombing, missiles ,manipulation & what not here & there .
fontu
update usdx:
http://www.forexfactory.com/showpost...stcount=428397
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.gif Size: 11 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #5,238
  • Apr 26, 2011 4:25am Apr 26, 2011 4:25am
i see some downward movement for silver here
Attached Image (click to enlarge)
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MMMYYYKKK
  • #5,239
  • Apr 26, 2011 4:38am Apr 26, 2011 4:38am
Quoting Pratik
Waiting for 1475-80 levels to enter..!!
@Fmfx, I think Pratik's level is more realistic than 1450. We have a strong uptrend in the last 3 months. If you see the fork below, a drop to the lower dotted line would bring us to ~1465 and that's would be a considerable drop. It would take a much stronger sell-off to bring us back to 1450.

But everything is possible... May is getting close and it could bring a reversal to a downtrend. Who knows? Besides that, there is the option expiry today and Uncle Ben's interview tomorrow. Enough stuff to shake the market.
Attached Image (click to enlarge)
Click to Enlarge Name: fork.jpg Size: 37 KB
"The reason I was born and came into the world is to testify to the truth."
  • #5,240
  • Apr 26, 2011 5:24am Apr 26, 2011 5:24am
Gold drop not too much, i think it is not enough for corrective wave. I'm bullish.
Attached Image (click to enlarge)
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