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

  • #7,181
  • Jun 14, 2011 4:26am Jun 14, 2011 4:26am
S turned R with BRN in the back (35 lvl )

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Hero calls followed by margin calls...
  • #7,182
  • Jun 14, 2011 5:48am Jun 14, 2011 5:48am
the correction has been completed for short term downtrend now we will se it again at 1550 and break through 1550 area these analysis base on my charts

mudasir
Trading by EA
  • #7,183
  • Jun 14, 2011 7:24am Jun 14, 2011 7:24am
Quoting mmudasir
the correction has been completed for short term downtrend now we will se it again at 1550 and break through 1550 area these analysis base on my charts

mudasir

Your last message #7209 said you had bought at 1542.75 - hope you got out of that trade OK. Is this prophetic comment likely to be more attuned to the market?



beeb
  • #7,184
  • Edited 7:58am Jun 14, 2011 7:35am | Edited 7:58am
USD-Bear and others....It is important to remember that gold is different to other currencies, commodities and equities (even different to silver which is such a small and easily-manipulated market) in that it is very often bought and kept as security for the long term rather than just being used as a trading vehicle. You have recently seen Central Banks become net buyers of gold and in simple terms this different approach puts a level of support under physical gold that you don't see elsewhere.

It is important to recognise the pivotal place that the spot/physical gold market centred in London has and the size of said market. If you are unaware of it suggest you read up on it starting with the lbma.org

beeb
  • #7,185
  • Jun 14, 2011 8:16am Jun 14, 2011 8:16am
Quoting beeb
USD-Bear and others....It is important to remember that gold is different to other currencies, commodities and equities (even different to silver which is such a small and easily-manipulated market) in that it is very often bought and kept as security for the long term rather than just being used as a trading vehicle. You have recently seen Central Banks become net buyers of gold and in simple terms this different approach puts a level of support under physical gold that you don't see elsewhere.

It is important to recognise the pivotal place that...
well different or not it's all in prices, volume and PA imho
Don't be a hero. Don't have an ego. Always question yourself
  • #7,186
  • Jun 14, 2011 8:20am Jun 14, 2011 8:20am
Quoting USD-Bear
well different or not it's all in prices, volume and PA imho
Obviously it all comes down to price - what I was stressing is that there is an underlying physical demand for gold different to other vehicles that underpins it's price. I really don't think this can be dismissed..

beeb
  • #7,187
  • Jun 14, 2011 8:36am Jun 14, 2011 8:36am
Quoting beeb
lbma.org
www.lbma.org.uk
  • #7,188
  • Jun 14, 2011 8:38am Jun 14, 2011 8:38am
Quoting fosking
www.lbma.org.uk

thanks fosking - i thought people could probably find their way to it without having to give the full address.......lol



beeb
  • #7,189
  • Jun 14, 2011 8:46am Jun 14, 2011 8:46am
Quoting beeb
thanks fosking - i thought people could probably find their way to it without having to give the full address.......lol



beeb
Me too, until it pulled up the Long Beach Museum of Art
  • #7,190
  • Jun 14, 2011 8:49am Jun 14, 2011 8:49am
Quoting fosking
Me too, until it pulled up the Long Beach Museum of Art


beeb
  • #7,191
  • Jun 14, 2011 9:42am Jun 14, 2011 9:42am
USD Bear -

This thread is accepting of all views. If it was not many here would not be posting.

The bottom line is that Gold is and has been trending up with vigor for the past 10 years.

Until the underlying fundamentals change and significant technical damage is done, the trend remains up.

Being that we are all traders here the goal is to make money.
Thus, if the trend were change you would see more people perhaps here selling gold than buying dips.

I can only speak for myself here but I have had far more success with far less stress going with the flow and buying Gold as opposed to trying to outsmart it and sell for 10 - 50 USD at a clip.

To each is own and opposition of sides is what makes a market.

You are welcome to share your ideas.
Good Luck,
XTrade.

Quoting USD-Bear
sure but that also is subject to argument, what does change a trend in your opinion?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,192
  • Jun 14, 2011 9:43am Jun 14, 2011 9:43am

Gold Rising On Inflationary Threats In China And Markets Uncertainty


Quote
Today, gold inclined at the beginning of the Asian session after the heavy data released by Japan and China, which is the world’s largest gold producer, where the Chinese consumer price index is still too high, the CPI came as expectations rising from the prior reading by 0.2% to an annual 5.5% in May.

The Chinese CPI remained in line with expectations at 5.5% though quickened from the previous 5.3%, while industrial production slowed less than expected which surprisingly supported the market, where the focus now is on growth and not worsening...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,193
  • Jun 14, 2011 10:17am Jun 14, 2011 10:17am
http://www.screencast.com/t/VkYhsILF

GC240min - anyone following the long-posted fork would have seen another virtually pip perfect bounce from the quartile and currently some $10 or so of profit....

beeb
  • #7,194
  • Jun 14, 2011 10:22am Jun 14, 2011 10:22am
Silver is rising in my chart. Breaking R line 36.00 will add more point for bullish.
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Keep Simple...!
  • #7,195
  • Jun 14, 2011 10:27am Jun 14, 2011 10:27am
This is my first post so please bear with me.
Based on my silver Daily chart, the price action seem to be respecting the trend line, not breaching the 150MA.
Do you think silver will be range bound between 33.60 & 38.50, until the rising wedge formation is broken on the upside?

Would appreciate opinions.
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  • #7,196
  • Jun 14, 2011 11:03am Jun 14, 2011 11:03am
Quoting jeffchoe
This is my first post so please bear with me.
Based on my silver Daily chart, the price action seem to be respecting the trend line, not breaching the 150MA.
Do you think silver will be range bound between 33.60 & 38.50, until the rising wedge formation is broken on the upside?

Would appreciate opinions.
It's a reasonable possibility - imho silver is above an area of support derived from various sources:

http://www.screencast.com/t/3rWWv5K5rw5

Be warned that silver is a very small and volatile market and if you are a newbie you might be better looking elsewhere as it doesn't often behave as expected lol

beeb
  • #7,197
  • Jun 14, 2011 11:11am Jun 14, 2011 11:11am
It just my personal view and setup plan . hope it won't make you get mad .
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Keep Simple...!
  • #7,198
  • Jun 14, 2011 12:17pm Jun 14, 2011 12:17pm
Quoting XTrade
USD Bear -

This thread is accepting of all views. If it was not many here would not be posting.

The bottom line is that Gold is and has been trending up with vigor for the past 10 years.

Until the underlying fundamentals change and significant technical damage is done, the trend remains up.

Being that we are all traders here the goal is to make money.
Thus, if the trend were change you would see more people perhaps here selling gold than buying dips.

I can only speak for myself here but I have had far more success with far less stress going...
as what I expected here thanks and good luck XTrade
Don't be a hero. Don't have an ego. Always question yourself
  • #7,199
  • Jun 14, 2011 12:46pm Jun 14, 2011 12:46pm
Quoting beeb
Your last message #7209 said you had bought at 1542.75 - hope you got out of that trade OK. Is this prophetic comment likely to be more attuned to the market?



beeb
beeb i bough at 1527 too and 1511.00 too and now it will break 1550 soon you will explain in charts when i will have detail time.actually i have too much office work i will explaination with charts soon
Trading by EA
  • #7,200
  • Jun 14, 2011 7:15pm Jun 14, 2011 7:15pm
No Intention to Stir. Just a comment on how I see the immeidate future. (If Daily is Immediate)

Back Above 1,550. But Immediate R. there.
I also take note of the Hesitation that may be caused @ 1,530 or so.
Daily Gold.
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Luck OR Wisdom. I wish you Cargo.
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