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

  • #7,221
  • Jun 15, 2011 9:09pm Jun 15, 2011 9:09pm
Yep.... I know how you feel. Should have shorted the EUR and GBP today and I got shaken out of my last AUD positions on the fall....At least in profit.

A bit too soon to short Swissy - but tonight may turn the tide.

Still alive on rangebound gold from
1519 and
XAG @ 35.11.

We may be seeing the beginning of a new trend in silver.

It so far has been rising nicely since the double hit on 34.50 Backing and filling.

I prefer trading in conditions like this (silver) than when currencies Go up 100 pips one day and down 100 the next. basically with no change by the week-end..

Took a small long on Cable earlier and up about 25 pippies ... If we can break potential resistance (old support at
6225
I will shoot for a test of 6300 +. Otherwise she get's flattened....


Quoting highlander2
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....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,222
  • Jun 15, 2011 11:48pm Jun 15, 2011 11:48pm
bear-USD here we go:

Gold to Reach $5,000 Due to Supply Shortage: Report


An exhaustive report by Standard Chartered predicts that gold [GCCV1 1526.80 http://media.cnbc.com/i/CNBC/CNBC_Im...tchlist_up.gif 0.60 (+0.04%) http://media.cnbc.com/i/CNBC/CNBC_Im...ltime_icon.gif] will
more than triple to $5,000 an ounce because of a lack of supply, not just because of a surge in demand
that most bullion bugs cite in their bullish calls.

http://www.cnbc.com/id/43396080
The Black Swan: The Impact of the Highly Improbable
  • #7,223
  • Jun 15, 2011 11:51pm Jun 15, 2011 11:51pm
Silver will complete wave C of wave X ? If right we maybe see 35 again. Or we can see triangles?
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Keep Simple...!
  • #7,224
  • Jun 16, 2011 2:18am Jun 16, 2011 2:18am
Quoting beeb
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
i have to explain because my approximate have some more value

look your 1401 will happen if market down suddenly as vertical but it never happen

i draw in red color how market is moving to 1442 for 200 EMA

http://i.imgur.com/bnoVX.gif
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  • #7,225
  • Jun 16, 2011 3:10am Jun 16, 2011 3:10am
Quoting MapleLeaf
bear-USD here we go:

Gold to Reach $5,000 Due to Supply Shortage: Report


An exhaustive report by Standard Chartered predicts that gold [GCCV1 1526.80 http://media.cnbc.com/i/CNBC/CNBC_Im...tchlist_up.gif 0.60 (+0.04%) http://media.cnbc.com/i/CNBC/CNBC_Im...ltime_icon.gif] will
more than triple to $5,000 an ounce because of a lack of supply, not just because of a surge in demand
that most bullion bugs...

“Currently, only 1.8 percent of China’s foreign exchange reserves is in gold,” wrote Chen and the Standard team in the 68-page report. “If the country were to bring this proportion in line with the global average of 11 percent, it would have to buy 6,000 more tonnes of gold, equivalent to more than 2 years of gold production.”
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  • #7,226
  • Jun 16, 2011 3:19am Jun 16, 2011 3:19am
Quoting kotlt
Silver will complete wave C of wave X ? If right we maybe see 35 again. Or we can see triangles?
Look like we have triangles here. Will enter long when wave e retract at least 50% of wave d.
Attached Image (click to enlarge)
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Keep Simple...!
  • #7,227
  • Jun 16, 2011 3:36am Jun 16, 2011 3:36am
Quoting leandar
i have to explain because my approximate have some more value

look your 1401 will happen if market down suddenly as vertical but it never happen

i draw in red color how market is moving to 1442 for 200 EMA
OK i get what you meant - you seem to be saying that at some unspecified time in the future the price of gold will meet the 200EMA. I think most people would agree that that will happen, therefore imho as analysis it is utterly irrelevant, but at least i think i understand what you were getting at......

beeb

PS If you can give a rationale for your 1442 level that might help
  • #7,228
  • Jun 16, 2011 9:17am Jun 16, 2011 9:17am
1533 needs to break.

Otherwise range on...
Boring.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,229
  • Jun 16, 2011 9:20am Jun 16, 2011 9:20am
Why I don't use EW with Gold or Silver.

Way too much left to the eye of the beholder. One wave could be someone else's completion wave of ave ABC of Xcompleting D Right??

Hey if it works for you. More power to ya!

I do see you have somewhat of a symmetrical triangle.

Need to take a look at that.
Quoting kotlt
Look like we have triangles here. Will enter long when wave e retract at least 50% of wave d.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,230
  • Jun 16, 2011 9:47am Jun 16, 2011 9:47am
Quoting XTrade
Why I don't use EW with Gold or Silver.
imho you could easily drop the "with Gold and Silver"......

beeb
  • #7,231
  • Jun 16, 2011 9:54am Jun 16, 2011 9:54am
Just waiting for a break out.

Gold H4 (I know, boring chart. I just wanted to try and post from my laptop without using PS)
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  • #7,232
  • Jun 16, 2011 10:15am Jun 16, 2011 10:15am
This pattern has a tendency lately to repeat itself once it starts.


Quoting fosking
Just waiting for a break out.

Gold H4 (I know, boring chart. I just wanted to try and post from my laptop without using PS)
Attachment
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,233
  • Jun 16, 2011 10:16am Jun 16, 2011 10:16am
Quoting beeb
imho you could easily drop the "with Gold and Silver"......

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,234
  • Jun 16, 2011 11:28am Jun 16, 2011 11:28am
Quoting XTrade
Why I don't use EW with Gold or Silver.

Way too much left to the eye of the beholder. One wave could be someone else's completion wave of ave ABC of Xcompleting D Right??

Hey if it works for you. More power to ya!

I do see you have somewhat of a symmetrical triangle.

Need to take a look at that.
Yeah .

Someone told me "EW traders never wrong, they just re-labeled".

Too many way to count now, but i like this setup . Added long @35.4 and SL @35.13. Say good luck to me .
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Keep Simple...!
  • #7,235
  • Jun 16, 2011 1:12pm Jun 16, 2011 1:12pm
Quoting beeb
OK i get what you meant - you seem to be saying that at some unspecified time in the future the price of gold will meet the 200EMA. I think most people would agree that that will happen, therefore imho as analysis it is utterly irrelevant, but at least i think i understand what you were getting at......

beeb

PS If you can give a rationale for your 1442 level that might help
i was thinking 1440 but that looks psychological level so i changed to 1442
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  • #7,236
  • Edited Jun 17, 2011 3:26am Jun 16, 2011 2:38pm | Edited Jun 17, 2011 3:26am
Quoting leandar
i was thinking 1440 but that looks psychological level so i changed to 1442
Oh that's alright then

I don't mean to apppear rude, but what is your reasoning for expecting gold to go to either 1440 or 1442? .You can't just pluck a number out of the air on a public forum and not expect to be queried unless you can substantiate it......

The past few days seem to be showing levels of support coming in for gold as I have shown on my charts. If you have reasons for anticipating a move significantly lower would you like to share them....

beeb
  • #7,237
  • Jun 16, 2011 3:27pm Jun 16, 2011 3:27pm
Gold buoyed and is now stuck in range,

EUR oversold BUT has Hit the working (as of DAILY LTL....)

Let's see what happens during asia.

See you then.

X-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,238
  • Jun 17, 2011 4:57am Jun 17, 2011 4:57am
Quoting Bemac
In otherwords. I'll buy All the gold you can Short.

Didn't mean to sound like I would Cut you... But...

...and I'll buy all the silver you want to short too. This secular bull market will last until at least 2016.

...I'll also be shorting the euro again soon right until it hits the weekly support.

Greece must decide whether it wants to save it's people or the filthy "banksters". The euro was flawed right from the beginning. Nobody wanted to have a single currency AND a single debt. I'm pleased the UK can devalue it's way out of it's debts by stealth inflation on it's people. The trouble is, in the end we all become debt slaves. When real interest rates start to turn positive again that will be the signal to get out of precious metals. Not for a long time yet, I would suggest.

KR
  • #7,239
  • Edited 5:53am Jun 17, 2011 5:42am | Edited 5:53am
today we will see to break 1540 and further now at 1526
Trading by EA
  • #7,240
  • Jun 17, 2011 5:47am Jun 17, 2011 5:47am
Quoting mmudasir
today we will see to break 1540 and further
today's important news is "Prelim UoM Consumer Sentiment" also weekend trend

any other reason?
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