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

  • #7,201
  • Edited 9:00pm Jun 14, 2011 7:37pm | Edited 9:00pm
For down there is 55 MA at 1504 i think no more down below 1490 but in 200 MA is 1400 if there is major economical growth for USD, i dont think so. lets watch news.

http://i.imgur.com/Q5w8z.gif
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  • #7,202
  • Jun 14, 2011 9:46pm Jun 14, 2011 9:46pm
Wow pretty dead day in here huh????

Just getting back again.. been in and out.

Did someone ruin the party?

My current positions:

Long Gold
1519.xx - Closed last trade as 5 USD scalp. Got long again on first pullback off bounce of 1511.

Long Silver @ 35.11

Long AUSSIE for a day and a half now 3 entries. Starting @ 1.0572
First target hit today at 1.0700

Looking for 1.1000 re test/.. lets see.

Closed EUR and GBP longs on weakness.

-----------------

Possibly looking to short Swissy now with great risk reward. about a 20 pip SL
and
60 pip TP so 1:3
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,203
  • Jun 14, 2011 10:00pm Jun 14, 2011 10:00pm
H1 ichimoku, adx chart xau/usd. Meh. Meh. Meh.....
Attached Image (click to enlarge)
Click to Enlarge Name: xau.jpg Size: 134 KB
trading is my zen
  • #7,204
  • Jun 14, 2011 10:10pm Jun 14, 2011 10:10pm
Hour 1 thru H4 and a two bar sequence on daily showing potential double bottom at 1511 area give or take always .50 cents to a buck.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,205
  • Jun 14, 2011 10:17pm Jun 14, 2011 10:17pm
Quoting XTrade
Hour 1 thru H4 and a two bar sequence on daily showing potential double bottom at 1511 area give or take always .50 cents to a buck.
try google news 'gold price'. Too many rumors on gold reaching 5k on Chinese demand. Let's see US news today, seems good for the USD.

Maybe it's bye-bye gold for today, gold luck....!!!

Oh. Just heard that old news about some dude sued HSBC and JP M for manipulating silver.
trading is my zen
  • #7,206
  • Jun 14, 2011 10:39pm Jun 14, 2011 10:39pm
Looking at your chart it is clear that when a price goes parabolic as silver did, the trendline will not hold as it is too steep to sustain and drastic correction is due.

Currently, I think I mentioned last night I am finding a support area around
34.50 to 75 AREAS.

Again referring to your chart I can see a potential support area at at appx 30.80 and again a HUGE support at appx 20.80.

The 20 USD benchmark that was a ceiling for sooo long due to many reasons, ie:manipulation....will certainly be hard to fall below.

These are areas looking at a wider scope. Even though silver has had 3 USD move days, it will not simply drop 10 USD in a day.

In conclusion. I am looking for silver to respect this support and continue to rise in a more orderly fashion.

I agree with beeb here. Silver can be very tricky. It is by far not as well behaved "technically" as gold is.

Now that the "top" of many years past has been blown off and Gold continues or at least Maintains a Hefty price tag @ + 1500 USD per OZT and silver has become more heavily traded, this should only be the beginning.

Lol I remember going to the bullion shop and loading up at $7 bux an oz.

Hope this helps.
Welcome to the thread.
XTrade.

a PAROBOLIC MOVE -V-
http://www.davemanuel.com/images/def_parabolic_move.gif
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.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,207
  • Jun 14, 2011 10:42pm Jun 14, 2011 10:42pm
Let's take a look at DXY.
H1 view shows a test and rejection of my daily line drawn using HLC.


Quoting ShirleyLo
try google news 'gold price'. Too many rumors on gold reaching 5k on Chinese demand. Let's see US news today, seems good for the USD.

Maybe it's bye-bye gold for today, gold luck....!!!

Oh. Just heard that old news about some dude sued HSBC and JP M for manipulating silver.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dixy dILY LOOK JUN 14.GIF Size: 94 KB
Click to Enlarge Name: dxy june 14 h1.GIF Size: 53 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,208
  • Jun 14, 2011 11:30pm Jun 14, 2011 11:30pm
http://i.imgur.com/pujE5.gif
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  • #7,209
  • Jun 15, 2011 3:37am Jun 15, 2011 3:37am
sums it up:

http://traderdannorcini.blogspot.com...-doldrums.html

beeb
  • #7,210
  • Jun 15, 2011 3:49am Jun 15, 2011 3:49am
Thanks for the insights & welcome!
  • #7,211
  • Jun 15, 2011 3:59am Jun 15, 2011 3:59am
Quoting leandar
http://i.imgur.com/pujE5.gif

why not wait until it isn't a "bet" and you have a clearer view......

remember that there is always another trade out there - you don't have to take this one if you are not confident of success..

beeb
  • #7,212
  • Jun 15, 2011 4:57am Jun 15, 2011 4:57am
Quoting beeb
sums it up:

http://traderdannorcini.blogspot.com...-doldrums.html

beeb
Yep, its all pretty boring, and this means its easy to get stopped as price wanders about aimlessly, pretty much covers most currencies at the moment. No trades at the moment....
  • #7,213
  • Jun 15, 2011 6:31am Jun 15, 2011 6:31am
i was thinking when 200 EMA will effect, everyone told its 1399 if gold straight and sudden down but it never happen so here is better view.

1442 is 200 EMA ( approximate )

http://i.imgur.com/Lh776.gif
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  • #7,214
  • Jun 15, 2011 6:44am Jun 15, 2011 6:44am
Quoting leandar
i was thinking when 200 EMA will effect, everyone told its 1399 if gold straight and sudden down but it never happen so here is better view.

1442 is 200 EMA ( approximate )

http://i.imgur.com/Lh776.gif
it will not go down so rapidly, it will break levels of support slowly.

the daily MaCD had pointed down.

just wait till tomorrow's hardcore newsday, you'll definitely see more volatility
  • #7,215
  • Jun 15, 2011 8:50am Jun 15, 2011 8:50am
sorry beeb i coulnt post charts actually due to lot of work in office thats why but are u remeber my last post i said the short term correction has been completed
Trading by EA
  • #7,216
  • Jun 15, 2011 9:13am Jun 15, 2011 9:13am
return back to 1540
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  • #7,217
  • Jun 15, 2011 9:28am Jun 15, 2011 9:28am
Take the summer off, I am. See you in the Autumn.
  • #7,218
  • Edited 11:45am Jun 15, 2011 10:44am | Edited 11:45am
Quoting leandar
i was thinking when 200 EMA will effect, everyone told its 1399 if gold straight and sudden down but it never happen so here is better view.

1442 is 200 EMA ( approximate )

errr.....very approximate - I have the 200 EMA at 1401.......

But, forget about the 200 EMA it's the 150 day simple moving average that has provided support since early 2009.......

beeb
  • #7,219
  • Jun 15, 2011 10:50am Jun 15, 2011 10:50am
http://www.screencast.com/t/tfy8Gu2G5V

GC240 min got a third quartile bounce

beeb
  • #7,220
  • Jun 15, 2011 11:04am Jun 15, 2011 11:04am
Quoting allngap
it will not go down so rapidly, it will break levels of support slowly.

the daily MaCD had pointed down.

just wait till tomorrow's hardcore newsday, you'll definitely see more volatility
Don't think it's quite as clearcut as you make out. MACD has crossed down - but only just and daily rsi and 14,3,3 stochs are both at levels where support has been found since March. To my eyes it's a market to trade on the 20min or the 240min, not on the daily at the moment....

beeb
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