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

  • #6,941
  • Jun 5, 2011 5:27pm Jun 5, 2011 5:27pm
Not sure mate. Could open higher but something seems off what broker is that from?

Quoting Mitchoss
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
Attached Image (click to enlarge)
Click to Enlarge Name: Dixy june 5.GIF Size: 58 KB
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,942
  • Jun 5, 2011 5:32pm Jun 5, 2011 5:32pm
Symmetrical triangle already broken into bullish flag. We should continue rising in a stepping stone pattern.

Quoting pipsbull
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.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,943
  • Jun 5, 2011 5:54pm Jun 5, 2011 5:54pm
whats your take on silver? if it holds above 36.3 could we see more bullish movement?

Mitch

Quoting XTrade
Symmetrical triangle already broken into bullish flag. We should continue rising in a stepping stone pattern.
  • #6,944
  • Jun 5, 2011 6:16pm Jun 5, 2011 6:16pm
Ultimately, now that silver has broken the ceiling of years around say 20 to 22 USD and remained above it I am very bullish silver long term.

I look at appx 20 as extremely strong support.

I would like to see silver re-enter the channel I had posted.
Once it regains entry, will be looking for stepping stone pattern up as well.

As new money is turned on to metals silver is a cheaper and lucrative alternative to the security and sometimes predictable gold movements.

Silver has more profit potential - with it comes more risk.

about three posts back once it
Quoting Mitchoss
whats your take on silver? if it holds above 36.3 could we see more bullish movement?

Mitch
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,945
  • Jun 5, 2011 6:34pm Jun 5, 2011 6:34pm
You can see the chart here
http://www.forexfactory.com/showthre...97#post4666897

It is a daily so it says a lot more than the lower tfs.

Quoting XTrade
Ultimately, now that silver has broken the ceiling of years around say 20 to 22 USD and remained above it I am very bullish silver long term.

I look at appx 20 as extremely strong support.

I would like to see silver re-enter the channel I had posted.
Once it regains entry, will be looking for stepping stone pattern up as well.

As new money is turned on to metals silver is a cheaper and lucrative alternative to the security and sometimes predictable gold movements.

Silver has more profit potential - with it comes more risk.

about...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,946
  • Jun 5, 2011 6:42pm Jun 5, 2011 6:42pm
thanks so much for your insight into these pairs. very informative.

Mitch

Quoting XTrade
You can see the chart here
http://www.forexfactory.com/showthre...97#post4666897

It is a daily so it says a lot more than the lower tfs.
  • #6,947
  • Jun 5, 2011 6:43pm Jun 5, 2011 6:43pm
Have a nice inverse relationship ATM TAKE ADVANTAGE.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,948
  • Jun 5, 2011 6:45pm Jun 5, 2011 6:45pm
If you dont mind my asking, how do you take advantage ?

correlation between gold/silver and the eur and usd?

EUR/USD up, USD/CHF down = good signal for long PM's?

Mitch

Quoting XTrade
Have a nice inverse relationship ATM TAKE ADVANTAGE.
  • #6,949
  • Jun 5, 2011 8:05pm Jun 5, 2011 8:05pm
Undrstand {or google} Money Flow.
Index UP = Precious Down.
Anytime ANY Currency has a hiccup in Growth, the Swiss Franc will gain momentum before any other currency.

{I include CHF with Gold in my overview.}

B
  • #6,950
  • Jun 5, 2011 10:53pm Jun 5, 2011 10:53pm
Quoting beeb
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
Well, basically i got it from one CNBC guy earlier this year.
Besides daily MA35 and MA150, i still draw S&R too + candlestick analysis, but I need simplicity, and this MA pair have helped me to decide when to buy,sell, or no position (Sideways)..

Gold has several case that ignore the candlestick,S&R even the MA,and the bottomline is : It's just another way to trade gold

Thank you..
  • #6,951
  • Jun 6, 2011 12:07am Jun 6, 2011 12:07am
Sorry should have made myself more clear.

I usually discuss GOLD first and SILVER second. Hence the title.
Yet I also trade currencies daily.

What I was saying has nothing really to do with gold beside the falling USD against all majors.

Look at this chart and you will understand.
The trade is long E/U short U/C

Quoting Mitchoss
If you dont mind my asking, how do you take advantage ?

correlation between gold/silver and the eur and usd?

EUR/USD up, USD/CHF down = good signal for long PM's?

Mitch
Attached Image (click to enlarge)
Click to Enlarge Name: fibre_swissy neg corr.GIF Size: 49 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,952
  • Jun 6, 2011 12:09am Jun 6, 2011 12:09am
Silver ticking up and gold shining at 1545. I gander we may see some sparks this week.

EUR flat.
Swissy up off another new low. only a matter of time until 8000
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,953
  • Jun 6, 2011 12:12am Jun 6, 2011 12:12am
Gold may appear to not follow S/R - BUT - usually it is quite well behaved.


Draw major SR and then switch to a line chart. You'll see what I mean.

edit : add: candlesticks are not always the best means of looking at GOLD - line and bar come in handy.

Line - for the TRUE S/R and BAR to see where each TF (bar) opens - the high the low and the outgoing flow into the next.

Look at volume also. I have a " better" volume indi for Mt4- I'll try to attach it tomoro.

Quoting Jamie2011
Well, basically i got it from one CNBC guy earlier this year.
Besides daily MA35 and MA150, i still draw S&R too + candlestick analysis, but I need simplicity, and this MA pair have helped me to decide when to buy,sell, or no position (Sideways)..

Gold has several case that ignore the candlestick,S&R even the MA,and the bottomline is : It's just another way to trade gold

Thank you..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,954
  • Jun 6, 2011 1:03am Jun 6, 2011 1:03am
Quoting XTrade
Gold may appear to not follow S/R - BUT - usually it is quite well behaved.


Draw major SR and then switch to a line chart. You'll see what I mean.

edit : add: candlesticks are not always the best means of looking at GOLD - line and bar come in handy.

Line - for the TRUE S/R and BAR to see where each TF (bar) opens - the high the low and the outgoing flow into the next.

Look at volume also. I have a " better" volume indi for Mt4- I'll try to attach it tomoro.
Naah, i know line chart and bar chart, i think it's just me that used to see the candlesticks.

It helps me to calculate the swing with those candle-tails, which also can be seen with bar chart. And I use Linechart to compare my S&R drawing too..

Anyhow, I'm looking forward for the attachment tho, I learn a lot from this thread also.., Thank you XTrade..
  • #6,955
  • Jun 6, 2011 2:58am Jun 6, 2011 2:58am
F----ing 1545 has to GO...

@ Jamie - NO problem. I'll find some of the alt indi's I have and post them tomoro.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,956
  • Jun 6, 2011 3:00am Jun 6, 2011 3:00am
ECN + Micro lot + Gold is available in any company? how much is maximum investment ?
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  • #6,957
  • Jun 6, 2011 3:06am Jun 6, 2011 3:06am
I dont think we're going to see too much more upside in gold until silver resumes its uptrend and gets back into its daily channel

Quoting XTrade
F----ing 1545 has to GO...

@ Jamie - NO problem. I'll find some of the alt indi's I have and post them tomoro.
  • #6,958
  • Jun 6, 2011 3:15am Jun 6, 2011 3:15am
Quoting leandar
ECN + Micro lot + Gold is available in any company? how much is maximum investment ?
FXDD have but STP account

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raghu: how much is leverage in gold?

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raghu: can trade STP with MT4?

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raghu: Micro + Gold + Scalping ( no time / pips limit ) + PAMM + No maximum deposit limit

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  • #6,959
  • Jun 6, 2011 6:59am Jun 6, 2011 6:59am
see chart
Attached Image (click to enlarge)
Click to Enlarge Name: chart gold.gif Size: 22 KB
Trading by EA
  • #6,960
  • Jun 6, 2011 8:37am Jun 6, 2011 8:37am
So what s the deal in here this AM. Hello all.
Welcome.

Maybe if the market is dead we can do some live scalping.
Who's in???????????

I will be in and out all day.
X
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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