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

Horrible NFP!!!

WOW. Just the boost gold needed back up.

Swissy still falling (CHF strength) Yen up.
Euro starting to follow.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
you seen this:

http://www.zerohedge.com/article/bir...ustment-206000

beeb
hah so im guessing those who bought at 1530 and 35.2 will be laughing to the bank next week

good luck all

Mitch
AUD train exploding north!

Would like to see AU above 1540 firmly resting a top 1550 - seems as though 1546 is creating a speed bump.

Silver not enjoying much boost here...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
Quoting Mitchoss
hah so im guessing those who bought at 1530 and 35.2 will be laughing to the bank next week

good luck all

Mitch

Mitch

As you've prob seen, NFP is just a really dangerous time of the month. Look at the spike and reverse on the 10min SI bar just after the numbers - I guarantee that some people bought at the top then saw it reverse and got out at the bottom, just before it went up again.....

Personally, I'm just keeping an eye on things and will probably let the market settle. I prefer a trending market to one that is acting like a bucking bronco. Though good money can be made with large swings I prefer bigger bets on shorter odds....but that's just me

beeb

PS besides I'm watching the cricket.....
hehe, choo choooo!!

but does it have enough steam to break through 1.07 and retest 1.1 :o

I'm not sure how to post charts but the setup for gold and silver are both looking strong NORTH at the moment on the 30min, 1hr, 4hr.

Mitch

Quoting XTrade
AUD train exploding north!

Would like to see AU above 1540 firmly resting a top 1550 - seems as though 1546 is creating a speed bump.

Silver not enjoying much boost here...
Quoting leandar
your buy limit was too below its gold not currency buy in every support at 5 min chart with good mm is best method.



NFP closed my open trades

1526 should've been on the list,but last night, it touched 1518, well who knows hahahahah

thank you..
Friends!

is it an opportunity go short in NG at this level ($ 4.7-4.8) [213-215 in MCX india] or on small rise???
as US summer season starts near 21 June & heating demand may reduce..

so I'm thinking to go short for a week or more duration for target below
$ 3.9 [192-183 in MCX india] with stop above $ 5.1 [235-238 in MCX india].

What you think guys????????
Shri Ram
Quoting dattatreya
Friends!

is it an opportunity go short in NG at this level ($ 4.7-4.8) [213-215 in MCX india] or on small rise???
as US summer season starts near 21 June & heating demand may reduce..

so I'm thinking to go short for a week or more duration for target below
$ 3.9 [192-183 in MCX india] with stop above $ 5.1 [235-238 in MCX india].

What you think guys????????
never sell gold, "buy n hold"

btw, its weekend ... BEEEER ... time. lets start it, ?
--------------------
  • Post #6,930
  • Quote
  • Edited Jun 4, 2011 5:39am Jun 3, 2011 11:06am | Edited Jun 4, 2011 5:39am
Quoting dattatreya
Friends!

is it an opportunity go short in NG at this level ($ 4.7-4.8) [213-215 in MCX india] or on small rise???
as US summer season starts near 21 June & heating demand may reduce..

so I'm thinking to go short for a week or more duration for target below
$ 3.9 [192-183 in MCX india] with stop above $ 5.1 [235-238 in MCX india].

What you think guys????????

scrubbed my comments due to lack of feedback after fifteen hours from datta....

beeb
gotta run analysis later - good weekend to all
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
We are one step Closer to knock the record (1575).
Now it stays at 1540, and the US data is awful, Next week should be the judgement week, otherwise the price would meet MA 35 or even MA 150 on Daily basis..

Quoting Jamie2011
We are one step Closer to knock the record (1575).
Now it stays at 1540, and the US data is awful, Next week should be the judgement week, otherwise the price would meet MA 35 or even MA 150 on Daily basis..

The daily 150MA is at 1422 and there's a heck of a lot of levels of support between current price and that level. Care to elaborate?

beeb
Good idea! Me likes.
Quoting leandar
never sell gold, "buy n hold"

btw, its weekend ... BEEEER ... time. lets start it, ?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
This was a fairly uneventful week for gold.

Still basically in an H4 supreme range of
1545 to some dips to around 1520

thus, $25 trade-able USD zone.

1540 continues to be somewhat of a resistance / pivot.

We had one failed attempt at 1550 thus, resistance point until cracked. With slight rez also 5 USD below at 1545 range top.

Most action was the NFP. Hope everyone made money on friday. Great day for dumping the USD.

Uptrend still intact.

Next week should provide further direction. Continued failure at 1550 and above could signal profit taking and a dip.

Whereas sustained breach and a flip to support should signal new high. Targeting 1600 +
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
Evening; bulls in full control with sharp development in daily up-channel. Right now the pennant is in completing stage. This week it will have a breakout to the north towards the top of the channel. May still be in consolidation towards check mark.
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From a closer look at Daily, I see smooth retracement to the Gann, as well as 38.2 one, which indicates me that bulls are recharged and can keep on pulling the blanket. I will also be keeping a close look at RSI, for it to support the move. Let it develop and there should be good entrances at smaller TFs on Monday.
Cheers
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great analysis! thank you for posting your thoughts, I enjoy reading all of the posts here.

Good luck to us all this week. Hopefully the bulls can maintain the run north.

Mitch
can anyone explain the spike in the USDX from 73.74 to 74.22 in the last minute of trading on friday night? or is my graph buggy

http://www.forexpros.com/quotes/us-d...advanced-chart
Gold basically unchanged. NOT far from high though and not selling. Positions seem intact. Looking for rise this week.
Silver still struggling to regain entry to old channel. 2 might and 3 should be a charm if you know what I mean.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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