XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 345 | Metals Mine

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

  • #6,881
  • Jun 1, 2011 11:50am Jun 1, 2011 11:50am
Quoting beeb


beeb
ok, ok....
  • #6,882
  • Jun 1, 2011 12:23pm Jun 1, 2011 12:23pm
Quoting fawaol
ok, ok....

just joshing.....



beeb
  • #6,883
  • Jun 1, 2011 3:15pm Jun 1, 2011 3:15pm
The trend could still go either ways, I am staying out till I get a clear sign from the skies!
Less is more...
  • #6,884
  • Jun 1, 2011 3:44pm Jun 1, 2011 3:44pm
When should I be booking profits on this gold. I'm long from 1494 and booked 1/2 (like an idiot but still worked out), then added at 1529 and again at 1517.

Thinking of booking part profit on approach of the 38.2 fibo and then the rest somewhere around the goal of 1600 depending what the market gives us.

Just wondering if this is normal trading and curious to others thoughts.

Any comments (or PM's) are fair game, don't be shy.
  • #6,885
  • Jun 1, 2011 3:49pm Jun 1, 2011 3:49pm
Quoting M504
When should I be booking profits on this gold. I'm long from 1494 and booked 1/2 (like an idiot but still worked out), then added at 1529 and again at 1517.

Thinking of booking part profit on approach of the 38.2 fibo and then the rest somewhere around the goal of 1600 depending what the market gives us.

Just wondering if this is normal trading and curious to others thoughts.

Any comments (or PM's) are fair game, don't be shy.

It's a fair comment but nobody can really advise you because we don't know your objectives, risk appetite, size of positions etc.....and besides would you really trust your decisions to someone you don't know????

One suggestion is to trail your stops at whatever level satisfies the above....

beeb
  • #6,886
  • Jun 1, 2011 3:59pm Jun 1, 2011 3:59pm
Quoting highlander2
Now moved to BE on this trade, Take profits at 38.80 and 39.33. So far so good.

h2
Stopped at BE.

Trading over till next week.......

h2
  • #6,887
  • Jun 1, 2011 6:02pm Jun 1, 2011 6:02pm
I think that there definately should a thread about these pairs. I personally am just starting to learn how to trade within this market so i would appreciate any and all valid feedback you have which is backed up by research.

Thank you
  • #6,888
  • Jun 1, 2011 6:56pm Jun 1, 2011 6:56pm
Quoting highlander2
Stopped at BE.

Trading over till next week.......

h2
i still hold long at 34.51..target 51..i don't think we can see 34 again..
anyone here same like me?
  • #6,889
  • Jun 1, 2011 8:46pm Jun 1, 2011 8:46pm
Kamen, course we could see 34 again. NFP's are friday, and "risk" is selling off atm. I did scoop a long at 36.80 (was asleep at the switch though) after that globex beat down so I am on ur side. But 51 is a bit ambitious unless ur holding for 6 months, would be very happy or overjoyed to see 38 before friday morning & 39.5 by the end of next week.

@beeb, thx for the comment, just looking for thoughts. Yeah, its easy to set stops to break even and trail stops and that works good. The no perfect answer i seek really is about how to maximize the market moves, see what she is giving and adjusting accordingly.

I guess I really need to learn the art of the forks so I can see momentum better.... would be a good start.
  • #6,890
  • Jun 2, 2011 2:10am Jun 2, 2011 2:10am
Quoting M504
Kamen, course we could see 34 again. NFP's are friday, and "risk" is selling off atm. I did scoop a long at 36.80 (was asleep at the switch though) after that globex beat down so I am on ur side. But 51 is a bit ambitious unless ur holding for 6 months, would be very happy or overjoyed to see 38 before friday morning & 39.5 by the end of next week.

@beeb, thx for the comment, just looking for thoughts. Yeah, its easy to set stops to break even and trail stops and that works good. The no perfect answer i seek really is about how to maximize...
M504 - no probs...

There is plenty of info out there about money management techniques. One that usually doesn't get mentioned too much and can be useful is to "divide" your order ie open two 1/2 positions rather than one full one. You can then put 1/2 to breakeven quickly (assuming you have got the move right) and either trail the other 1/2 closely or just leave it. You get the scenario, I'm sure....

Forks are v powerful tools imho, but rather than showing momentum I find that they are best for showing potential areas of support and resisitance....

beeb
  • #6,891
  • Jun 2, 2011 9:16am Jun 2, 2011 9:16am
Welcome to the thread!
Quoting Leche Mocha
Great insight on Gold here on this thread. Good trading to all.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,892
  • Jun 2, 2011 9:34am Jun 2, 2011 9:34am
After the test of 1550 we have slipped back below the prior resistance of 1540 which is not lending much in the way of support.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,893
  • Jun 2, 2011 9:35am Jun 2, 2011 9:35am
NFP tomorrow - usual shenanigans imo

beeb
  • #6,894
  • Jun 2, 2011 9:52am Jun 2, 2011 9:52am
Getting some support around 1535. Todays potential range :
app 1535/0 to 1550

Poor US unemployment as expected.
Today is also a European bank holiday.

Price is turning on Lower TFs (up)
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,895
  • Jun 2, 2011 10:18am Jun 2, 2011 10:18am
Like i said...it could go either ways so be prepared!
Less is more...
  • #6,896
  • Jun 2, 2011 10:48am Jun 2, 2011 10:48am
Went Short at @36.86 and take profit at 35.85. Today is a nice day
Keep Simple...!
  • #6,897
  • Jun 2, 2011 12:32pm Jun 2, 2011 12:32pm
Ran out and see we had a nice dip down to lower supports...

Any specifics?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,898
  • Jun 2, 2011 1:15pm Jun 2, 2011 1:15pm
Quoting XTrade
Ran out and see we had a nice dip down to lower supports...

Any specifics?
What do you mean by specifics? Reasons or something else?
Less is more...
  • #6,899
  • Jun 2, 2011 1:27pm Jun 2, 2011 1:27pm
GC 240min - virtually pip perfect bounce from support mentioned numerous times.....so far. Full chart in post #6971.

beeb
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  • #6,900
  • Jun 2, 2011 4:00pm Jun 2, 2011 4:00pm
I thought I post my 2 cents on gold before tomorrows news, which can easily through away the analysis below.
Here is what I see on the 1hr and 4hr charts:
The 4hr one shows that the price broke out of the bull channel and had a retest of the LTL after strongly bouncing off the daily S2 @1520. When price falls below 50ema or 1529, it will have a good bearish potential.
The 1hr chart shows a broadening top formation, which signals medium term trend change and favors bears with the stop just above 1538 or 61.8 retracement.
I will be looking for an entry on smaller TF with the above in mind.
GL
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