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

  • #5,281
  • Apr 26, 2011 11:54am Apr 26, 2011 11:54am
Quoting abreu
I'm lost today. The aud/us going UP and the silver down. That is making me mad. The only trade that I have in mind depends on the daily candle. If we close bellow 45,20 the silver will have a good probability to test the 42,53 and maybe 40,7. I will wait to get any positions. It is against the trend. I'm not seeing a trade reversal. I'm lost today.
Agreed +++++++

The course of action is very clear.

Stay out.

You need to be reasonably able to predict market movements. If you cannot then just take the rest of the week off.
  • #5,282
  • Apr 26, 2011 12:21pm Apr 26, 2011 12:21pm
Hey guys,

What are your thoughts on the effects of the FOMC Press Conference on XAG and XAU tomorrow?

Sorry if this has already been asked, but it would be quite interesting to hear your points of view.

Regards,
xXTrizzleXx
  • #5,283
  • Apr 26, 2011 12:24pm Apr 26, 2011 12:24pm
Point A is the TOP and outside the bolinger and the moving averange. If we close the daily chart below 45,20 point B, we might have a good chance to get at 40,70 point C.
I guess that this should be our next wave. This strategy is called snipers. But as I said before, I'm out for the day.

Attached Image (click to enlarge)
Click to Enlarge Name: silver.gif Size: 19 KB
  • #5,284
  • Apr 26, 2011 12:30pm Apr 26, 2011 12:30pm
Quoting xXTrizzleXx
Hey guys,

What are your thoughts on the effects of the FOMC Press Conference on XAG and XAU tomorrow?

Sorry if this has already been asked, but it would be quite interesting to hear your points of view.

Regards,
xXTrizzleXx

I really don't pay attention to that stuff. Maybe I should...
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,285
  • Apr 26, 2011 12:52pm Apr 26, 2011 12:52pm
Quoting LasVahGoose
I really don't pay attention to that stuff. Maybe I should...

I trade longer tf such as daily and week. I do not care that much about the news. Only if I see a good trend but I would wait it to consolidate and follow the trend. The trend is our friend!!!
  • #5,286
  • Apr 26, 2011 1:01pm Apr 26, 2011 1:01pm
Quoting xXTrizzleXx
Hey guys,

What are your thoughts on the effects of the FOMC Press Conference on XAG and XAU tomorrow?

Sorry if this has already been asked, but it would be quite interesting to hear your points of view.

Regards,
xXTrizzleXx
The rule is stay out of the market when important news is to be released potentially affecting your area of investment.

We have seen time and again price shoot up and down in a violent swing only to settle down.
You could straddle price - price shoots up and takes you long. Moments later price is crashing down and you are wrong footed.

No point. Mark your position, close the trade and sit on the sidelines.
  • #5,287
  • Apr 26, 2011 1:21pm Apr 26, 2011 1:21pm
Quoting beeb
- 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....
I have a chart on that one beeb and with no I told ya so.
http://dollarcollapse.com/inflation/...llars-decline/
  • #5,288
  • Apr 26, 2011 1:23pm Apr 26, 2011 1:23pm
Quoting six gun
The rule is stay out of the market when important news is to be released potentially affecting your area of investment.
No point. Mark your position, close the trade and sit on the sidelines.
Awe, but I need to trade and make money RIGHT NOW! haha!

I still feel like that sometimes, but after a few years of trading it gets easier to sit aside. Not perfect, but at least my trades are in demo when I get like that. Most of the time at least...
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,289
  • Apr 26, 2011 1:32pm Apr 26, 2011 1:32pm
Quoting six gun
The rule is stay out of the market when important news is to be released potentially affecting your area of investment.

We have seen time and again price shoot up and down in a violent swing only to settle down.
You could straddle price - price shoots up and takes you long. Moments later price is crashing down and you are wrong footed.

No point. Mark your position, close the trade and sit on the sidelines.
Also US GDP on thursday, markets will be waiting for direction from this.

I probably wont trade this week(except friday), and then at the end of next week it will be NFP again, so for me there will only be a small window in the next two weeks (friday, monday, tuesday) and thats it..
  • #5,290
  • Apr 26, 2011 1:50pm Apr 26, 2011 1:50pm
Quoting myk
Move triggered target 43.55
Target changed to 42.50
Attached Image
MMMYYYKKK
  • #5,291
  • Apr 26, 2011 2:04pm Apr 26, 2011 2:04pm
London open tomorrow should be interesting... We might see the 1470-1480 region as there will be a lot of profit-taking...
  • #5,292
  • Apr 26, 2011 2:08pm Apr 26, 2011 2:08pm
Quoting Fmfx
London open tomorrow should be interesting... We might see the 1470-1480 region as there will be a lot of profit-taking...
I'm out tomorrow. Trade during news is over dangerous!
  • #5,293
  • Apr 26, 2011 2:16pm Apr 26, 2011 2:16pm
Quoting abreu
I'm out tomorrow. Trade during news is over dangerous!
Agreed but there might be good BUY opportunities in 1450 region...
  • #5,294
  • Apr 26, 2011 2:37pm Apr 26, 2011 2:37pm
Quoting xXTrizzleXx
What are your thoughts on the effects of the FOMC Press Conference on XAG and XAU tomorrow?
Maybe nothing will happen... maybe a new long term trend could kick off. Stay alert but don't expect too much.

It was Bernanke and his QE2 who created the current uptrend in the stock markets and commodities. You can see it very clearly in Silver - just look at what happened around mid-September 2010.

I see two possible trends: 1) any hint at further easing could mean QE3 and everything would shoot to the sky again (against USD); 2) any hint at a definitive end of QE2 or even a future interest rate hike would valuate the dollar and we can see a general sell-off

The market has its own reasoning and the reaction can be exactly the opposite of what I said - then CNBC will give the proper explaination

Safest action plan: stay away for the day and see what happens
"The reason I was born and came into the world is to testify to the truth."
  • #5,295
  • Apr 26, 2011 3:05pm Apr 26, 2011 3:05pm
Quoting xXTrizzleXx
Hey guys,

What are your thoughts on the effects of the FOMC Press Conference on XAG and XAU tomorrow?

Sorry if this has already been asked, but it would be quite interesting to hear your points of view.

Regards,
xXTrizzleXx

Afraid that's a "how long is a piece of string?" question. It really does depend what is said. Just be aware, as has been mentioned, that pm's often spike one way on news and then reverse and spike the other......

For me it's yet another reason to stay out of the market for the time being. I would prefer to put a larger trade on a smaller target that I was more sure of than a smaller amount on a larger target that I was less sure of.....if that makes sense lol

beeb
  • #5,296
  • Apr 26, 2011 4:18pm Apr 26, 2011 4:18pm
I really hate to spread a rumor... I did try and search online and didn't find anything. Anyways.

Someone started a thread on FF saying they spoke to a Rep. at GFT and they told this member that brokers would top trading the XAG/USD and XAU/USD in July. Sounds crazy, but these are crazy times. I'm sure it's BS, but won't hurt to VERIFY if it is even remotely true.

Anyone heard anything about this?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,297
  • Apr 26, 2011 4:29pm Apr 26, 2011 4:29pm
Quoting LasVahGoose
I really hate to spread a rumor... I did try and search online and didn't find anything. Anyways.

Someone started a thread on FF saying they spoke to a Rep. at GFT and they told this member that brokers would top trading the XAG/USD and XAU/USD in July. Sounds crazy, but these are crazy times. I'm sure it's BS, but won't hurt to VERIFY if it is even remotely true.

Anyone heard anything about this?
It is full of rumors. I heard that jp morgam will sell a lot at 50 oz the silver, that someone had bet a lot and short in gold. I really have no clue. The UP trend still intact. Everytime that we have a correction rumors shows up.
  • #5,298
  • Apr 26, 2011 4:34pm Apr 26, 2011 4:34pm
Quoting LasVahGoose
I really hate to spread a rumor... I did try and search online and didn't find anything. Anyways.

Someone started a thread on FF saying they spoke to a Rep. at GFT and they told this member that brokers would top trading the XAG/USD and XAU/USD in July. Sounds crazy, but these are crazy times. I'm sure it's BS, but won't hurt to VERIFY if it is even remotely true.

Anyone heard anything about this?

Total cobblers - how can anyone stop someone else from quoting a spot price? Even if say the US govt made it illegal to do so in the US (which they couldn't) all the brokers would just move their servers offshore....

beeb
  • #5,299
  • Apr 26, 2011 5:22pm Apr 26, 2011 5:22pm
Quoting LasVahGoose
I really hate to spread a rumor... I did try and search online and didn't find anything. Anyways.

Someone started a thread on FF saying they spoke to a Rep. at GFT and they told this member that brokers would top trading the XAG/USD and XAU/USD in July. Sounds crazy, but these are crazy times. I'm sure it's BS, but won't hurt to VERIFY if it is even remotely true.

Anyone heard anything about this?
Are we talking GFT the broker?
This is BS.
The US administration could make trading in something illegal in the US but what is the point? What about SLV? What about LME? What about Zurich and Hong Kong?
I will make a search for this thread to see if there is more said.
First impressions are this is dumb. All the business would fly out of the US in a nanosecond.

Edit: Could not find this thread but I found a post where Harvest3r promised someone a coin if silver got to $21!
  • #5,300
  • Apr 26, 2011 5:41pm Apr 26, 2011 5:41pm
Quoting six gun
Are we talking GFT the broker?
This is BS.
The US administration could make trading in something illegal in the US but what is the point? What about SLV? What about LME? What about Zurich and Hong Kong?
I will make a search for this thread to see if there is more said.
First impressions are this is dumb. All the business would fly out of the US in a nanosecond.

Edit: Could not find this thread but I found a post where Harvest3r promised someone a coin if silver got to $21!
HERE is the thread. Nothing in there worth reading, not even my posts.
Don't wish it were easier, wish you were better. ~ Jim Rohn
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