XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 282 | Metals Mine

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

  • #5,621
  • May 1, 2011 12:57pm May 1, 2011 12:57pm
As an academic exercise only - Silver on a Daily.....wouldn't try and trade off this however.....

http://www.screencast.com/t/ogkEpqs0g3mJ

beeb
  • #5,622
  • Edited 5:57pm May 1, 2011 2:12pm | Edited 5:57pm
Quoting beeb
1 min SI chart:

beeb
Very nice. With all the volatility that I have heard about in metals, this 1 minute chart and fork are beautiful. Also gives some important "lines in the sand" possibilities.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #5,623
  • Edited 5:17pm May 1, 2011 4:42pm | Edited 5:17pm
Quoting hareanone
http://www.minyanville.com/businessm.../2011/id/34234

What does anyone think of this? A correction to $33. It sounds quite logical to me but I have to have the opinions of some experts here.
we can only wish it would, buy, buy, buy,buy.

looking at the same time frame (a single year chart silvers 33.33 was the projected years high) with gold we just had the previous week confirm the spelling of bull with a close above 1490( single year chart).
looking at last 3 years ( which is how I look at the coming time frame projection) 1551 was projected high and with the monthly close above we just might be off to the races unless shes lieing to me.
  • #5,624
  • May 1, 2011 4:53pm May 1, 2011 4:53pm
Quoting FX4Newbies
Very nice. With all the volatility that I have heard about in metals, this 1 minute chart and fork is beautiful. Also gives some important "lines in the sand" possibilities.

FX4

Thanks FX4

It'll probably gap out of the fork on the open lol

beeb
  • #5,625
  • Edited 5:23pm May 1, 2011 5:06pm | Edited 5:23pm
may monthly silver
52.83 with eye on 51.31
41.88
30.93
week
50.86
45.82
39.78
day
50.05
47.46
44.87-95
bias for week is up from 45.82 and if she drops below will watch how 44.95 responds.
  • #5,626
  • May 1, 2011 5:10pm May 1, 2011 5:10pm
Quoting beeb
1 min SI chart:

beeb
I got this fork as well.
Looks like it is still in the down fork.
Wild movements from the off - difficult to say for sure

Hmmm seems to be bouncing off both at the moment.
  • #5,627
  • May 1, 2011 5:33pm May 1, 2011 5:33pm
Boom down she goes

44.75 and 43.60 on the 4H fork

No even lower its going back to the longer term trend line!!
  • #5,628
  • May 1, 2011 5:36pm May 1, 2011 5:36pm
Quoting redsword11
common revesal price configuration, may correct first


think about why a diamond is a reversal from a price structure prespective - its a shake out before change ..... its shape makes its difficult to take profit either long or short - it squeezes both sides of the trade and then breaks hard


check 5min gold right now, a cluster resolving, prices dropped a bit, now its retested - can be a correction atleast intraday on metals

Attached Image (click to enlarge)
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  • #5,629
  • May 1, 2011 5:47pm May 1, 2011 5:47pm
http://www.screencast.com/t/vyhUqUQp

SI 20 min - as above so below - at the mom

beeb
  • #5,630
  • May 1, 2011 5:48pm May 1, 2011 5:48pm
Quoting beeb
http://www.screencast.com/t/vyhUqUQp

SI 20 min - as above so below - at the mom

beeb
Price has spiked through +++ but it is sitting on the lower parallel of the 4H fork.

?? bounce off the lower warning line - who knows it is more than a bit crazy at the mo.
  • #5,631
  • May 1, 2011 5:49pm May 1, 2011 5:49pm
Quoting six gun
Boom down she goes

44.75 and 43.60 on the 4H fork

No even lower its going back to the longer term trend line!!
what the... I couldn't believe when I read your post, too busy with gold

what a nasty night... I wonder if it's some Gaddafi's effect or the new Asian strategy after holidays.
"The reason I was born and came into the world is to testify to the truth."
  • #5,632
  • May 1, 2011 5:53pm May 1, 2011 5:53pm
LOL
  • #5,633
  • May 1, 2011 5:54pm May 1, 2011 5:54pm
Quoting Fmfx
LOL
my reaction aswell
  • #5,634
  • May 1, 2011 6:03pm May 1, 2011 6:03pm
Quoting JeremyWS
my reaction aswell
Yes, we will probably have more lol in coming days... 6-7 dollar down in silver in 20 sec and the hulls will probably call it a "minor" correction with Sunday seasoning...

Oh well, I better look after my gold SHORT at 1575.5
  • #5,635
  • May 1, 2011 6:04pm May 1, 2011 6:04pm
TBH it was coming.

Price was sitting on the upper second warning line for 2 days, getting lower and lower by degrees.
Then Friday last thing it slips.
It was well over reached.
Falling off the warning line was the trigger, getting back above very hard and there was a long way to fall.....back to the longer term trend line.
It is still overstretched but the elastic band was really too tight up there on the ledge and it pull her down......
  • #5,636
  • May 1, 2011 6:05pm May 1, 2011 6:05pm
Gold hit some huge sell orders at 1575.
The Black Swan: The Impact of the Highly Improbable
  • #5,637
  • May 1, 2011 6:06pm May 1, 2011 6:06pm
Quoting Subdude
Silver futures are close to 10% down since my post here yesterday. This is just the beginning.
I win.
Attached Image (click to enlarge)
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  • #5,638
  • May 1, 2011 6:07pm May 1, 2011 6:07pm
Quoting Fmfx
Yes, we will probably have more lol in coming days... 6-7 dollar down in silver in 20 sec and the hulls will probably call it a "minor" correction with Sunday seasoning...

Oh well, I better look after my gold SHORT at 1575.5
I was SO close to opening a short at $1573 ish and am so regretting it now. I can see silver touching $40 at this rate.
  • #5,639
  • May 1, 2011 6:08pm May 1, 2011 6:08pm
More LOL...
  • #5,640
  • May 1, 2011 6:11pm May 1, 2011 6:11pm
Quoting JeremyWS
I was SO close to opening a short at $1573 ish and am so regretting it now. I can see silver touching $40 at this rate.
Well, sorry to hear that but with all this gold is bulish, it only goes up blah blah you hear, it is hard to believe that you could make profit shorting gold but well, I can see my short position is already almost $30 down... Time to lock the profit I guess...
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