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

  • #6,901
  • Jun 2, 2011 4:19pm Jun 2, 2011 4:19pm
It has always being said 'Neither a bull nor bear be'. But I say unto you, ' Have a bias (bullish or bearish) but be ready to jump ship once it's apparent that the one you are on is sinking'.

The direction the currency goes later today would surely set the next trend for a few days or more... I think I am prepared for either eventuality.
Less is more...
  • #6,902
  • Edited Jun 3, 2011 5:34am Jun 2, 2011 4:39pm | Edited Jun 3, 2011 5:34am
Today was a prime example of a fork's ability to show levels of support and resistance in the way that the 240min GC bounced $17 from the expected support. I first drew the fork in early April and it has remained solidly in tune with price ever since. It caught the fall from 1551 to 1520 to within 20 cents. If anyone knows of another method that can do that I would love to hear about it......

If anyone claims that you can't trade from forks, they are nuts......

Take care tomorrow - NFP

beeb

PS remember that nothing is guaranteed, don't just jump in without watching for a reaction first - forks work until they don't lol........
  • #6,903
  • Jun 2, 2011 9:11pm Jun 2, 2011 9:11pm
Nice fork there beeb. Hope your trades are going well.

Are we expecting to see gold/silver in a tight trading range for the next month and possibly even drop a little more as qe2 comes to an end and the US attempt to get a rally in the USDX? or could this euro debt crisis could potentially boost comodities as investors flee to PM's. Going to be a wild few months IMHO.

I'd love to see gold at $1450 and silver at $30 again to give me the opportunity to buy some physical. I would never sell if given the opportunity to purchase at those prices again.

good luck all.

Mitch
  • #6,904
  • Jun 2, 2011 9:59pm Jun 2, 2011 9:59pm
Sell below 1533
Target 1520
Stop above 1536


Can I?
Attached Image
  • #6,905
  • Jun 2, 2011 10:30pm Jun 2, 2011 10:30pm
Quoting Supercombo
Sell below 1533
Target 1520
Stop above 1536


Can I?
NO! Not unless you are looking for a minor flick ($1,525.00) South on Gold.

The Trend is Fully Bullish.
You can be Long, or you can be Aside.
Attached Image (click to enlarge)
Click to Enlarge Name: 1,600 dollar gold daily jun 2.gif Size: 40 KB


I know others will disagree for numerous reasons but I also have numerous reasons for my post. Including Fundamentals.

B
  • #6,906
  • Jun 2, 2011 11:28pm Jun 2, 2011 11:28pm
WOW LAME GOLD AND FX NIGHT..... tick tock. tick tock. maybe something witll break.

These currencies are PAINFUL to even look at right now.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,907
  • Jun 3, 2011 12:30am Jun 3, 2011 12:30am
I think gold is consolidating and I'm waiting for another test of 1519.
  • #6,908
  • Edited 1:42am Jun 3, 2011 1:24am | Edited 1:42am
Quoting Supercombo
Sell below 1533
Target 1520
Stop above 1536


Can I?

You can do whatever you want. You're new to the thread (welcome) so it bears repeating that the main theme "encouraged" here is to trade with the trend. Following on from Bemac - gold has been in a secular bull market for over a decade so you will not find too much encouragement for a $15 scalp trade against this trend......

beeb
  • #6,909
  • Jun 3, 2011 1:49am Jun 3, 2011 1:49am
http://i.imgur.com/kRC99.gif

NFP forecast is bad for USD i hope all my open trades will touch at my TP in this london time.
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  • #6,910
  • Jun 3, 2011 2:42am Jun 3, 2011 2:42am
Thanks for your advices. I know I "will not find too much" for over 10$.

I can see gold is in the bull trend but yesterday's consolidation will continue till today before re-test record high.

I'm thinking about "short: 7-8$".

PS: I'm newbie for "online trading market" and new for this forum too. Thanks for help.
  • #6,911
  • Jun 3, 2011 3:09am Jun 3, 2011 3:09am
Quoting Supercombo

PS: I'm newbie for "online trading market"
what did you trade in offline ?
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  • #6,912
  • Jun 3, 2011 3:14am Jun 3, 2011 3:14am
Quoting leandar
what did you trade in offline ?
physical gold
  • #6,913
  • Jun 3, 2011 3:48am Jun 3, 2011 3:48am
ok, NFP forecast started play to 1540 ?
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  • #6,914
  • Jun 3, 2011 4:56am Jun 3, 2011 4:56am
Okay let the NFP showdown begins..

and thumb up for the thread..

PS :
Long Position on 1532
Buy Limit 1519 & 1500
  • #6,915
  • Jun 3, 2011 5:46am Jun 3, 2011 5:46am
so on bad NFP and unemployment, we should see big gains in gold/silver?

Mitch
  • #6,916
  • Jun 3, 2011 6:43am Jun 3, 2011 6:43am
Quoting Mitchoss
so on bad NFP and unemployment, we should see big gains in gold/silver?

Mitch
if good news for USD then GOLD will down.
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  • #6,917
  • Jun 3, 2011 6:55am Jun 3, 2011 6:55am
Quoting Mitchoss
so on bad NFP and unemployment, we should see big gains in gold/silver?

Mitch

PM's have a wondrous capacity to do the opposite of what is anticipated/expected.....

No need to rush into a trade - there is always going to be another one....

beeb
  • #6,918
  • Jun 3, 2011 7:22am Jun 3, 2011 7:22am
Quoting beeb

No need to rush into a trade - there is always going to be another one....

beeb
exactly
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  • #6,919
  • Jun 3, 2011 7:27am Jun 3, 2011 7:27am
understood mate

just playing with my demo account, have a long that was triggered at 1525 with TP at 1540, open SL.

Quoting beeb
PM's have a wondrous capacity to do the opposite of what is anticipated/expected.....

No need to rush into a trade - there is always going to be another one....

beeb
  • #6,920
  • Jun 3, 2011 7:44am Jun 3, 2011 7:44am
Quoting Yoke1225
Okay let the NFP showdown begins..

and thumb up for the thread..

PS :
Long Position on 1532
Buy Limit 1519 & 1500
your buy limit was too below its gold not currency buy in every support at 5 min chart with good mm is best method.

http://i.imgur.com/JUIRh.gif

NFP closed my open trades

http://i.imgur.com/kRC99.gif
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