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

  • #5,801
  • May 4, 2011 8:04am May 4, 2011 8:04am
lets see if we can make it to 42-43 area.
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  • #5,802
  • May 4, 2011 9:23am May 4, 2011 9:23am
AUD getting hit again... Might be more dowbside to gold. I am still waiting to add to my longs after the added 1529 yesterday...
  • #5,803
  • May 4, 2011 9:25am May 4, 2011 9:25am
dollar fall but gold & slv stay calm
They want too get lower!
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  • #5,804
  • May 4, 2011 9:28am May 4, 2011 9:28am
gold just got slaughtered upon downside pressure on light crude june futures, hower it's temporary and there is a good opportunity to get in long on gold at 1519-1521.
  • #5,805
  • May 4, 2011 9:39am May 4, 2011 9:39am
Waiting for confirmation ?

--CONFIRMED.
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  • #5,806
  • May 4, 2011 9:50am May 4, 2011 9:50am
A classic FX example: with all the technical and fundamental points against the USD, it is beginning to up...

Well, I guess when some of us were busy buying only the commodities, some smarter and perhaps bigger Players were filling their USD longs... It was cheap too

Oh, well... More to come I guess.
  • #5,807
  • May 4, 2011 9:54am May 4, 2011 9:54am
Quoting fawaol
Waiting for confirmation ?

--CONFIRMED.
don't know if it was a smart move...
  • #5,808
  • May 4, 2011 10:03am May 4, 2011 10:03am
Quoting z3r0
don't know if it was a smart move...
u right there is 2 stage confirmations on Ag last time...(see chart)

& lower shade of hour candle is too long......
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  • #5,809
  • May 4, 2011 10:29am May 4, 2011 10:29am
I'm not sure how the paper silver instruments effect the spot market, but on top of all the CME margin increases and brokers (IB just announced increases above and beyond the CME following other folks MF Global, etc) you also had a HUGE sell off by Eric Sprott in the PSLV. He said he took the money from the sell off to buy physical silver.

There is manipulation and then there is CME and brokers trying not to lose everything and protect themselves, you have people grabbing physical silver hand over fist. So, yeah, there are multiple factors going on.

I do think this is going to be a critical point to add to positions for the long term run of $100 silver (based on traditional silver to gold ratio with gold around 1600).

$38 should prove strong support, IMO. If we get below that, $34, then $30 could be possibilities. If we do get back to $30, I might just pour my life saving into Silver for the run up to 50+ LMAO. I'll seriously consider it and then retire if it works out.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,810
  • May 4, 2011 10:38am May 4, 2011 10:38am
Quoting LasVahGoose
$38 should prove strong support, IMO. If we get below that, $34, then $30 could be possibilities. If we do get back to $30, I might just pour my life saving into Silver for the run up to 50+ LMAO. I'll seriously consider it and then retire if it works out.
33 looks real for me even in a very short term.
  • #5,811
  • May 4, 2011 11:02am May 4, 2011 11:02am
If 1518 does not hold in gold, we could get to $1500 fast...
  • #5,812
  • Edited 11:34am May 4, 2011 11:07am | Edited 11:34am
Potential entries I'm looking at

Gold 1504/2 and again 1496 - and 1476

Silver - in 3's doubting on too much sub 30 so

36.35 - 33.59 - 30 area. with potential dip into 29s incase of accelerated profit taking/ selling.

-------------

@ Goose - Yes there will be some great entries coming up.

Looking at the daily - silver's move was blown way out of the channel - right now price is about mid to upper channel. THus necessary correction to continue up.

May be a nice time to scoop up some physical at the 30 USD mark. if we get there.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,813
  • May 4, 2011 11:12am May 4, 2011 11:12am
Quoting Fmfx
If 1518 does not hold in gold, we could get to $1500 fast...
What if it go lower 1500???

I see 1430
  • #5,814
  • May 4, 2011 11:13am May 4, 2011 11:13am
Gold @ $1513...
  • #5,815
  • May 4, 2011 11:21am May 4, 2011 11:21am
I wonder if the "BULL-ONLY" call this price drop from $1575 to $1513 a minor profit taking, correction, or UK wedding post-effect?

Or the %25 drop in silver over 2-3 days? Isn't that basically SOME people made the same profit by shorting silver at $49 till $40 in a couple of days to people who did by buying it over several weeks? Was the big $50 sell off a conspiracy theory???
  • #5,816
  • May 4, 2011 11:25am May 4, 2011 11:25am
Quoting fawaol
What if it go lower 1500???

I see 1430
Under $1500 is a possibility now in my opinion but I am adding to my "long-term" long positions anyways while holding my short from $1575 with profit locked at $1525...

If it is going to be a similar reversal to Jan-Fub 2011 ($1433 in Dec to $1309), we might get to $1450 but personally I do not think so. Let's save the big reversal for August
  • #5,817
  • May 4, 2011 11:32am May 4, 2011 11:32am
Quoting Fmfx
Under $1500 is a possibility now in my opinion but I am adding to my "long-term" long positions anyways while holding my short from $1575 with profit locked at $1525...

If it is going to be a similar reversal to Jan-Fub 2011 ($1433 in Dec to $1309), we might get to $1450 but personally I do not think so. Let's save the big reversal for August
There will be a lot of big reversals for everybody....
Cook your own big reversal yourself
  • #5,818
  • May 4, 2011 11:37am May 4, 2011 11:37am
Some heavy moves today. As long as bernanke continues to print we go up.
  • #5,819
  • Edited 12:00pm May 4, 2011 11:45am | Edited 12:00pm
Weekly Silver Chart.

I can see getting back to the green trendlne for a steadier growth angle...
Waiting for a setup to go long, maybe a little while.

The good thing or sad thing is that this will scare most of the general public from entering into the market. Keep Stacking.


.
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,820
  • May 4, 2011 11:51am May 4, 2011 11:51am
Quoting Fmfx
I wonder if the "BULL-ONLY" call this price drop from $1575 to $1513 a minor profit taking, correction, or UK wedding post-effect?

I call it a healthy retracement of 38% so far from the major move up (50% would be amazing). This is great news because folks were worried that Silver was going to go parabolic.
Don't wish it were easier, wish you were better. ~ Jim Rohn
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