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

  • #7,421
  • Jun 23, 2011 10:00am Jun 23, 2011 10:00am
Quoting ShirleyLo
thanks.

I might buy a little more later...anyone have info on that gold spot restriction thingy? I use FXCM US (but I'm not US resident), would my positions suddenly be closed?
I asked Oanda about the gold trade restriction and they told me that i would be fine since my account is registered under Oanda Asia Pacific. I guess the one that are US residents are the one that need to worry.

Anyhow, gold is down 30 bucks from today high of 1549. Could this be the new correction in effect of market speculation against Bernanke words who said that Stimulus would end up on June 11.

I somehow see this correction kinda similar to then one at 1308-1428.
I am expecting this to be $100 move correction.

What do you think guys?
Beeb, have the new price breached the pitchfork already? it seems to be broken in mine.
  • #7,422
  • Jun 23, 2011 10:02am Jun 23, 2011 10:02am
Quoting llrickkll
Beeb, have the new price breached the pitchfork already? it seems to be broken in mine.

which fork? 20 min marginal breach, 240min and daily - nope...

beeb
  • #7,423
  • Jun 23, 2011 10:25am Jun 23, 2011 10:25am
Quoting beeb
which fork? 20 min marginal breach, 240min and daily - nope...

beeb

daily pitchfork. not breached? Guess, i draw the pitchfork wrongly. -_-
  • #7,424
  • Jun 23, 2011 10:36am Jun 23, 2011 10:36am
Quoting llrickkll
daily pitchfork. not breached? Guess, i draw the pitchfork wrongly. -_-

as I stated earlier - there is no "right" or "wrong" - it's subjective ie what works for you......

I posted this one earlier and as you can see the LP of the black fork has so far held....there is some validity to it. if it breaches you may have to look for another that works....i've been using one starting in 2008 and a SP held perfectly today...use what works

http://www.screencast.com/t/iDbCNABXy

beeb
  • #7,425
  • Jun 23, 2011 11:04am Jun 23, 2011 11:04am
I very much doubt there will not be a QE3. It's just what form it takes.

Inflation (currency depreciation) or depression?

KR
  • #7,426
  • Jun 23, 2011 11:08am Jun 23, 2011 11:08am
what the xtrade are you long still or get stop loss or holding your position..what you are seeing tell me i m still holding long yet i am afraid now what you do?is it any chance to backup again
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  • #7,427
  • Jun 23, 2011 11:10am Jun 23, 2011 11:10am
Quoting ShirleyLo
thanks.

I might buy a little more later...anyone have info on that gold spot restriction thingy? I use FXCM US (but I'm not US resident), would my positions suddenly be closed?
Hi Shirley,

If you are trading gold or silver with FXCM, your account is most likely through FXCM UK (www.fxcm.co.uk) which offers gold and silver, and your positions will not be closed.

FXCM does not offer gold or silver trading through FXCM US (www.fxcm.com) and never has since we knew there was a high likelihood it would be ended by the Dodd-Frank Act.

-Jason
  • #7,428
  • Jun 23, 2011 11:42am Jun 23, 2011 11:42am
Quoting mmudasir
what the xtrade are you long still or get stop loss or holding your position..what you are seeing tell me i m still holding long yet i am afraid now what you do?is it any chance to backup again
i tried to warn those who are still buying the dip already. when the correction comes the move is usually very violent, some might even drop $50 per day.

i nearly bang my head on the wall when i was in the silver position on may 1st.

i've came across this scenario. take it or leave it

1. take the complete loss
2. take half of the loss (close half of the position) and put a sell hedge. Ignore the floating losses. short it when it rallies up, catch the tip and slowly take profit. Until it reaches super low levels which most likely to go up (assuming 1450), take profit on the sell, and buy back DOUBLE the lot size at bottom.

i still have some minor floating losses with me. but i trade according to the move. 3months later it might visit your 1542 level again.
you have to see whether it is worth holding the losses (overnight fee + take up your margin in account)
  • #7,429
  • Jun 23, 2011 12:13pm Jun 23, 2011 12:13pm
Quoting allngap
i tried to warn those who are still buying the dip already. when the correction comes the move is usually very violent, some might even drop $50 per day.

i nearly bang my head on the wall when i was in the silver position on may 1st.

i've came across this scenario. take it or leave it

1. take the complete loss
2. take half of the loss (close half of the position) and put a sell hedge. Ignore the floating losses. short it when it rallies up, catch the tip and slowly take profit. Until it reaches super low levels which most likely to go up (assuming...
Hi
Base on your words the Bear market has started .
I see signs of recovery in Oil,XAU .
The Bull is not over ,Isn't it ?
  • #7,430
  • Edited 12:21pm Jun 23, 2011 12:19pm | Edited 12:21pm
Quoting Knight Rider
I very much doubt there will not be a QE3. It's just what form it takes.

Inflation (currency depreciation) or depression?

KR
If next week US stock Indexes break this month's low ,there's no QE3 .
  • #7,431
  • Jun 23, 2011 12:43pm Jun 23, 2011 12:43pm
Quoting Nguyenngoctu
Hi
Base on your words the Bear market has started .
I see signs of recovery in Oil,XAU .
The Bull is not over ,Isn't it ?

suggest you read the thread - not just what somebody who appeared a couple of days ago has written.....



beeb
  • #7,432
  • Jun 23, 2011 12:51pm Jun 23, 2011 12:51pm
Quoting Nguyenngoctu
Hi
Base on your words the Bear market has started .
I see signs of recovery in Oil,XAU .
The Bull is not over ,Isn't it ?
in my view 1506 level can be able to nice buy chance.holding buy 1543 and buy more if 1506
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  • #7,433
  • Jun 23, 2011 1:33pm Jun 23, 2011 1:33pm
Quoting llrickkll

I somehow see this correction kinda similar to then one at 1308-1428.
I am expecting this to be $100 move correction.

What do you think guys?
Was gold really due a correction?

It may indeed be a correction within the major uptrend, but over the past few weeks it has not made mauch ground and was not over bought in the slightest (imho) there really wansnt much to correct in my view..

h2
  • #7,434
  • Jun 23, 2011 1:36pm Jun 23, 2011 1:36pm
Quoting mmudasir
in my view 1506 level can be able to nice buy chance.holding buy 1543 and buy more if 1506
have u got any chart to support this pls? thanks
trading is my zen
  • #7,435
  • Jun 23, 2011 1:44pm Jun 23, 2011 1:44pm
Quoting highlander2
Was gold really due a correction?

It may indeed be a correction within the major uptrend, but over the past few weeks it has not made mauch ground and was not over bought in the slightest (imho) there really wansnt much to correct in my view..

h2

Sanity.....

beeb
  • #7,436
  • Jun 23, 2011 1:48pm Jun 23, 2011 1:48pm
Quoting ShirleyLo
have u got any chart to support this pls? thanks
check support 1506 and may b 1507
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gold technical analysis2.gif Size: 26 KB
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  • #7,437
  • Jun 23, 2011 1:50pm Jun 23, 2011 1:50pm
What happened to GOLD today?

down down and 100% red...
The Black Swan: The Impact of the Highly Improbable
  • #7,438
  • Jun 23, 2011 1:59pm Jun 23, 2011 1:59pm
Just hello everybody loving gold

I just found this thread ! Thx all, i was desperate to find it.

It's good to feel less alone trading gold
gold is gold.
  • #7,439
  • Jun 23, 2011 2:00pm Jun 23, 2011 2:00pm
Quoting MapleLeaf
What happened to GOLD today?

down down and 100% red...
its all the hell of INTRNATIONAL ENERGY AGENCY WHICH has been announced today they will sell 60 million reserve crude oil that why oil fall and other commodities fall as well as Gold
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  • #7,440
  • Jun 23, 2011 2:04pm Jun 23, 2011 2:04pm
Quoting Jason Rogers
Hi Shirley,

If you are trading gold or silver with FXCM, your account is most likely through FXCM UK (www.fxcm.co.uk) which offers gold and silver, and your positions will not be closed.

FXCM does not offer gold or silver trading through FXCM US (www.fxcm.com) and never has since we knew there was a high likelihood it would be ended by the Dodd-Frank Act.

-Jason
Hi Jason from FXCM - thank you very much I'm relieved!!

Creepy! My broker is watching what I write online,,,
trading is my zen
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