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

  • #6,181
  • May 10, 2011 7:57pm May 10, 2011 7:57pm
Gold is flirting with 1520 at the moment...
  • #6,182
  • May 10, 2011 8:31pm May 10, 2011 8:31pm
boom smashed its way through 1520 gogo 1550
  • #6,183
  • May 10, 2011 9:15pm May 10, 2011 9:15pm
Here it is...

What?

Going to change your mind now?

Quoting Fmfx
$1505 - $1509 sounds like a good one...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,184
  • May 10, 2011 9:18pm May 10, 2011 9:18pm
That would be too easy!

It's ok - I'm sure they all have been watching gold's price action for years and are experienced scalpers, who know exactly what the "tops" and bottoms are.


Quoting beeb
Just think how well these folks would do if they used all the time and effort that they spend going against the trend, actually trading WITH the trend,,,,lol

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,185
  • May 10, 2011 9:21pm May 10, 2011 9:21pm
Nice break in price straight up to aforementioned area. (see below)
Stall as expected, once we push through 21 there should be a nice clean
trade to 1531 area.

I'll expect resistance in this zone. Basically working in tens 1531 to 1541.

Quoting XTrade
we may encounter some resistance at 1521 and stiffer at 1531
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,186
  • May 10, 2011 9:24pm May 10, 2011 9:24pm
AUD and CAD.

Aussie trending nicely so far, offering plenty of entries.

Expecting USD/CAD to fall off, May enter short here, looking for about 130 pips.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,187
  • May 10, 2011 9:35pm May 10, 2011 9:35pm
Quoting XTrade
Here it is...

What?

Going to change your mind now?
Haha cool down dude!

Do you actually read all the posts?

I was just suggesting a possible target to someone else for their short.

Personally I have been adding to my longs when we hit 1460. I would not considering short until we reach 1630-1650.

I see what you could be angry at me but sorry, I have been making money for a long time so I rarely find a need to change my mind :d
  • #6,188
  • May 10, 2011 9:38pm May 10, 2011 9:38pm
Quoting XTrade
AUD and CAD.

Aussie trending nicely so far, offering plenty of entries.

Expecting USD/CAD to fall off, May enter short here, looking for about 130 pips.
US CAD might actually see a move upward by tomorrow...
  • #6,189
  • May 10, 2011 11:10pm May 10, 2011 11:10pm
absolutely stupid move by myself earlier, as gold spiked through 1520 i added what i thought was a 0.1 lot to silver, turns out it was a 1.0 lot and nearly had a heart attack. Thank the gods i was able to break even and re-enter a 0.1 lot. Must take more caution when trying to catch a ride up and not forget the '.' infront of my volumes

anyone else have a story like that from over the years?

it felt like a sinking feeling. gasp

Mitch
  • #6,190
  • Edited 11:35pm May 10, 2011 11:31pm | Edited 11:35pm
anyone with any recommedation?

in this thread, it is acutally BEEB's pitchfork

its performence seems quite amazing
  • #6,191
  • Edited 11:32pm May 10, 2011 11:31pm | Edited 11:32pm
Quoting Mitchoss
absolutely stupid move by myself earlier, as gold spiked through 1520 i added what i thought was a 0.1 lot to silver, turns out it was a 1.0 lot and nearly had a heart attack. Thank the gods i was able to break even and re-enter a 0.1 lot. Must take more caution when trying to catch a ride up and not forget the '.' infront of my volumes

anyone else have a story like that from over the years?

it felt like a sinking feeling. gasp

Mitch
I do. In my early days once I opened a 100.000 lot instead if a 10.000 for one of the pair and although it was a bit late to close the position at BE, fortunately I had a big account and could wait and after one session, I closed the position with a small loss.

From that day, I triple check everything before pressing the order button even if I miss a few pips of a better price.

Glad you could manage it well.
  • #6,192
  • May 10, 2011 11:42pm May 10, 2011 11:42pm
If it were My Trade I may have thought about hanging onto it until the Close tomorrow ( May 11) Then look for Longs
I expect Growth Followed by Larger reduction before extensive growth.

B
  • #6,193
  • May 11, 2011 1:04am May 11, 2011 1:04am
what the expected bouns today .can any one explain what the support today
Trading by EA
  • #6,194
  • May 11, 2011 2:25am May 11, 2011 2:25am
Accumulated gold shorts with minimum lots since 1508 & last taken at 1523 , expecting breakout this time.
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 12 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #6,195
  • May 11, 2011 2:27am May 11, 2011 2:27am
Quoting fontu
Accumulated gold shorts with minimum lots since 1508 & last taken at 1523 , expecting breakout this time.
fontu
Sorry - you have accumulated other people's shorts ie you are long or you have accumulated your own shorts so that you're short?

beeb
  • #6,196
  • May 11, 2011 2:41am May 11, 2011 2:41am
Quoting Mitchoss
Looking to buy the next dip on silver, hopefully around the 37.8 mark
Do you think it will fall that far? Better than expected US fundamentals the next few days might push it down, but isn't 38.0-.2 a strong support?
  • #6,197
  • May 11, 2011 3:42am May 11, 2011 3:42am
Quoting Mitchoss
absolutely stupid move by myself earlier, as gold spiked through 1520 i added what i thought was a 0.1 lot to silver, turns out it was a 1.0 lot and nearly had a heart attack. Thank the gods i was able to break even and re-enter a 0.1 lot. Must take more caution when trying to catch a ride up and not forget the '.' infront of my volumes

anyone else have a story like that from over the years?
Three months ago I was entering some orders on AUDCHF. When I was entering the last (and biggest) limit order, which was supposed to be far away from the current price, I opened an immediate position by mistake! It was 3 lots, so the spread alone was EUR 80.00. I didn't know what to do, waited 1-2 minutes, but unfortunately it moved a few pips against me... and I closed with a EUR 250.00 loss. Luckily the trade was so good that I managed to recover the losses in the next 2 days.

That's one of the reasons why I am switching to an External Advisor...
"The reason I was born and came into the world is to testify to the truth."
  • #6,198
  • May 11, 2011 4:29am May 11, 2011 4:29am
Trade Balance us news forcast will effect gold..if effect on gold then what the forcast tell i am waek in fundays and if the forecast will be actual then what the gold bearish or bullish?
Trading by EA
  • #6,199
  • May 11, 2011 4:58am May 11, 2011 4:58am
Hi,
Last month (12th April), the US trade balance came out worse than expected (-$45.8B vs -$44.1B); when the news came out Gold went up $2 from 1465 to 1467 in the first 30 mins and then came down $23 from 1467 to 1444 in the following 90 mins.
Today's expectation is for -46.8B.
Let's see what happens today
  • #6,200
  • May 11, 2011 5:08am May 11, 2011 5:08am
Quoting fontu
Accumulated gold shorts with minimum lots since 1508 & last taken at 1523 , expecting breakout this time.
fontu
Are you saying you believe price will go down?

You have a chart with bands on it which seem to be indicating the likelihood in your mind of price retracing to these levels.

The most probable appears to lie between 1530 and 1460. There is a section in the middle of this that is unlabelled.

what is the chart saying?
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