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

  • #5,241
  • Apr 26, 2011 5:32am Apr 26, 2011 5:32am
Move triggered target 43.55
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MMMYYYKKK
  • #5,242
  • Apr 26, 2011 5:32am Apr 26, 2011 5:32am
At what time is the opex..?
  • #5,243
  • Apr 26, 2011 5:45am Apr 26, 2011 5:45am
Quoting vickym
Hi all,

Are you still bullish on silver? what could be a good terget for re-entry?

Thanks
Vicky
42
  • #5,244
  • Apr 26, 2011 5:50am Apr 26, 2011 5:50am
Quoting fawaol
42
Bro I Am not great at trading but good lol.
there is strong resistance at 43.40-43.60 area which should touch soon as far as i think.
MMMYYYKKK
  • #5,245
  • Apr 26, 2011 5:56am Apr 26, 2011 5:56am
Just to put things into perspective the price of silver when it reached the bottom of this pull back was the same as it was less than a week ago.
  • #5,246
  • Apr 26, 2011 6:34am Apr 26, 2011 6:34am
Quoting myk
Bro I Am not great at trading but good lol.
there is strong resistance at 43.40-43.60 area which should touch soon as far as i think.
1500 was a good support too....if you talking about support....
  • #5,247
  • Apr 26, 2011 6:43am Apr 26, 2011 6:43am
Quoting fawaol
42
It makes sense
"The reason I was born and came into the world is to testify to the truth."
  • #5,248
  • Apr 26, 2011 7:45am Apr 26, 2011 7:45am
Morning all,

Trade still working, about 6.67 USD profit. A bit slow Minor resistance around 1504/5 area. Also US consumer confidence out at 10 and always remember US stocks open at 9:30 AM EST.

NZD broke major resistance. Aud Is back up and should be next on a break.




[/b]
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...
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,249
  • Apr 26, 2011 7:59am Apr 26, 2011 7:59am
Thanks for posting this reminder.
Maybe I should link it to the first post after the rules.

FIRST POST IN THREAD
Required reading

Quoting beeb
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...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,250
  • Apr 26, 2011 8:17am Apr 26, 2011 8:17am
Just took some profits on last nights scalp.
1504 area need to be breached and flipped to support.

Markets light. ATM likely waiting on news.

Lets see what the PGMS copper and crude are doing....

Will add here
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,251
  • Apr 26, 2011 8:20am Apr 26, 2011 8:20am
(Kitco News) -
Quoting Jim Wyckoff
Comex gold and silver futures prices are trading lower Tuesday morning, with silver posting solid losses, on some profit-taking pressure following recent gains that Monday saw prices hit fresh for-the-move highs. The precious metals bulls are still in strong overall technical and fundamental command. If recent history plays out, price weakness in gold and silver will see bargain hunters step in to buy the dips. Comex June gold last traded down $4.50 an ounce at $1,504.60. Spot gold last traded down $3.70 at $1,504.25. May Comex silver last traded down $1.319 an ounce at $45.82.

(A short squeeze in silver futures? Late yesterday afternoon I"
http://www.kitco.com/reports/KitcoNe...0426JW_am.html
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,252
  • Apr 26, 2011 8:28am Apr 26, 2011 8:28am
Quoting beeb
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.
As annoying as the "bull is dead" posts are, I've actually learned from them. In respect to Trader Psychology. It is amazing how a few dollar move in an instrument gets people worked up or call a trend change. If you look at the posts from the "psychology lens" it is quite revealing the psychosis of traders with a hair triggers. I think I'm really understanding how the bear / bull traps are setup and how they suck people in. Interesting stuff.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,253
  • Apr 26, 2011 8:52am Apr 26, 2011 8:52am
Quoting LasVahGoose
As annoying as the "bull is dead" posts are, I've actually learned from them. In respect to Trader Psychology. It is amazing how a few dollar move in an instrument gets people worked up or call a trend change. If you look at the posts from the "psychology lens" it is quite revealing the psychosis of traders with a hair triggers. I think I'm really understanding how the bear / bull traps are setup and how they suck people in. Interesting stuff.
Like I said the prices at higher now than a week ago!
These are bull markets that have been running for weeks and weeks.
The fundamentals are as strong as ever.
  • #5,254
  • Apr 26, 2011 8:53am Apr 26, 2011 8:53am
Quoting LasVahGoose
As annoying as the "bull is dead" posts are, I've actually learned from them. In respect to Trader Psychology. It is amazing how a few dollar move in an instrument gets people worked up or call a trend change. If you look at the posts from the "psychology lens" it is quite revealing the psychosis of traders with a hair triggers. I think I'm really understanding how the bear / bull traps are setup and how they suck people in. Interesting stuff.
http://www.forexlive.com/183046/all/...-uss-interests


http://www.forexlive.com/183053/all/...for-a-catalyst

I agree the trend only changes once, but it could be crazy day tomorrow. The dollar has been kicked to death and could start rising to get things back in balance. Need to keep alert because this bull run has been built on the FEDS reckless balance sheet.
  • #5,255
  • Apr 26, 2011 8:53am Apr 26, 2011 8:53am
May see further dip in gold -

Eying Up 1488 - 1485 as of now.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,256
  • Edited 9:19am Apr 26, 2011 8:53am | Edited 9:19am
Metals under a thorough shake up but usdx still in bear , already hit the previous low & likely a bounce though yet not over retest & nominal break before such action and problem now it has more room to up before the bear may work & afterall no concession may expect when comes the question of the mighty usd to go hell . lets see & may need more patience in such situation .
fontu

update : gold make new low as one bad indication for more retracement again to continue yet while eurusd already did before & expecting bull to end soon before retracemnt . much slower in development here . so all old levels may interact .
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #5,257
  • Apr 26, 2011 8:57am Apr 26, 2011 8:57am
Quoting XTrade
May see further dip in gold -

Eying Up 1488 - 1485 as of now.
I watching for a nice pa setup on the 1476-1480 level which was an old swing high, could act as support if retested.
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  • #5,258
  • Apr 26, 2011 9:13am Apr 26, 2011 9:13am
Quoting Euroscum
http://www.forexlive.com/183046/all/...-uss-interests


http://www.forexlive.com/183053/all/...for-a-catalyst

I agree the trend only changes once, but it could be crazy day tomorrow. The dollar has been kicked to death and could start rising to get things back in balance. Need to keep alert because this bull run has been built on the FEDS reckless balance sheet.

Maybe, but little Timmy always says he wants a strong dollar to Congress. It's a running joke. QE3 is in the works, if not already started and QE4, 5, 6, etc, etc are on standby....
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,259
  • Apr 26, 2011 9:23am Apr 26, 2011 9:23am
Quoting LasVahGoose
As annoying as the "bull is dead" posts are, I've actually learned from them. In respect to Trader Psychology. It is amazing how a few dollar move in an instrument gets people worked up or call a trend change. If you look at the posts from the "psychology lens" it is quite revealing the psychosis of traders with a hair triggers. I think I'm really understanding how the bear / bull traps are setup and how they suck people in. Interesting stuff.


@sixgun: another for you Silver just falls to the levels from last Wednesday and people already jump into the thread calling it the "Judgement Day"... I learned from the last months about silver: 2% range in a day is BORING, 3-4% is NORMAL, 5-8% is a VOLATILE DAY. That's not a boring 20-pip range currency. And that's one of the reasons why I don't trade it .

I know XTrade and beeb get really upset about some posts here... but I still believe that we can deal better with them by laughing and ignoring - or reading them as a psychological signal, as LasVah does.
"The reason I was born and came into the world is to testify to the truth."
  • #5,260
  • Apr 26, 2011 9:35am Apr 26, 2011 9:35am
Quoting harvest3r

I know XTrade and beeb get really upset about some posts here... but I still believe that we can deal better with them by laughing and ignoring - or reading them as a psychological signal, as LasVah does.

The reason I get upset is because of the number of newbies here who can easily get led astray from a seemingly knowledgable post saying "Sell NOW...."

I do welcome good positive debate that is backed by reasoning because it enables me to check my own reasoning and lets me look at a vehicle from different viewpoints....Please don't get the idea that I don't like "dissent" - i just like any arguments to be well made and supported by evidence.

If somebody comes on and says "look I made $10 by calling the end of the bull run...." unless they can back their statements up I think it is correct to call them on their comments....Those people should remember that how ever much they make, someone else has always made more....



beeb
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