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

  • #7,441
  • Jun 23, 2011 2:04pm Jun 23, 2011 2:04pm
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 ?
i did mentioned that a correction is coming, i did not say that BULL market is over.
i'm looking to start buying at 1450 level, which might take a month to reach
at the moment, i'll hold my shorts. If you would like to hold your buy at a high level over a long period of time at a loss, then it's your money and therefore it's your call

i said that it's safer to short it at 1550 at the top range and there is no harm reading all opinions

there are some people who dislike newbie and love to label people as "newbie".
It is up to you to decide which side you wanna take or just sit at the fence and laugh at both sides.

my buying criteria starts with the announcement of QE3 and EMA 150/200 on daily chart

Daily chart uptrend line has already been broken. IT is more likely to go into consolidation and correction phase before the next move up. until then your longs will get jammed up for perhaps 2months ? Your money, your call !
  • #7,442
  • Jun 23, 2011 2:11pm Jun 23, 2011 2:11pm
I'm short too actually.

Daily looks very good for that ( using simple tradeline and stoch).

Technically. yesterday was a nice doji .
gold is gold.
  • #7,443
  • Jun 23, 2011 2:19pm Jun 23, 2011 2:19pm
Quoting allngap
i did mentioned that a correction is coming, i did not say that BULL market is over.
i'm looking to start buying at 1450 level, which might take a month to reach
at the moment, i'll hold my shorts. If you would like to hold your buy at a high level over a long period of time at a loss, then it's your money and therefore it's your call

i said that it's safer to short it at 1550 at the top range and there is no harm reading all opinions

there are some people who dislike newbie and love to label people as "newbie".
It is up to you to decide which...
congrats on making your money from selling at 1550

you seriously gonna hold your short until 1450 ?

My employees are rushed in to buy gold coins / 100g bars tomorrow. Apparently 1510s are cheap for them. and they earn around $35k per year. Saying much about general middle class population..

I remember XTrade earlier "Fear is the biggest market mover"
trading is my zen
  • #7,444
  • Jun 23, 2011 2:25pm Jun 23, 2011 2:25pm
Quoting ShirleyLo
congrats on making your money from selling at 1550

you seriously gonna hold your short until 1450 ?

My employees are rushed in to buy gold coins / 100g bars tomorrow. Apparently 1510s are cheap for them. and they earn around $35k per year. Saying much about general middle class population..

I remember XTrade earlier "Fear is the biggest market mover"
Oh I'm long from my hit-because-i-was-too-stupid-to-put-expiry-date-on-my-entry-order at 1520. holding on to it and buy more if it hits 149x because I listen to my unknowledgable, regular, very scared co workers instead of Bernanke.....
trading is my zen
  • #7,445
  • Jun 23, 2011 2:28pm Jun 23, 2011 2:28pm
Quoting ShirleyLo
Oh I'm long from my hit-because-i-was-too-stupid-to-put-expiry-date-on-my-entry-order at 1520. holding on to it and buy more if it hits 149x because I listen to my unknowledgable, regular, very scared co workers instead of Bernanke.....
did you see my charts what you have opinion about that
Trading by EA
  • #7,446
  • Jun 23, 2011 2:37pm Jun 23, 2011 2:37pm
Quoting mmudasir
did you see my charts what you have opinion about that
I would probably look at lower buy (if it happened today/tomorrow), Look at how it nicely hit S3 and boosted up nicely, and S4 should be around 1497-8.

Our technicals may not mean much. Our little friend Greece boosted commodities and stocks about 40 minutes ago.

I say keep an eye on fundamentals.
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trading is my zen
  • #7,447
  • Jun 23, 2011 3:00pm Jun 23, 2011 3:00pm
its incredible how much time and effort it takes GOLD to build up and grow, but then it falls pretty quick in a few hours...
The Black Swan: The Impact of the Highly Improbable
  • #7,448
  • Jun 23, 2011 3:11pm Jun 23, 2011 3:11pm
check out the hammer on h4
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  • #7,449
  • Jun 23, 2011 3:15pm Jun 23, 2011 3:15pm
the RSI shows divergince on m30 and H1

This can get quite interisting but im waiting for more confirmation
  • #7,450
  • Jun 23, 2011 3:20pm Jun 23, 2011 3:20pm
looks like strong support 1512.00
  • #7,451
  • Jun 23, 2011 7:56pm Jun 23, 2011 7:56pm
Quoting allngap
i did mentioned that a correction is coming, i did not say that BULL market is over.
i'm looking to start buying at 1450 level, which might take a month to reach
at the moment, i'll hold my shorts. If you would like to hold your buy at a high level over a long period of time at a loss, then it's your money and therefore it's your call

i said that it's safer to short it at 1550 at the top range and there is no harm reading all opinions

there are some people who dislike newbie and love to label people as "newbie".
It is up to you to decide which...
Thanks .
You're very good .
Goodluck
  • #7,452
  • Jun 23, 2011 7:58pm Jun 23, 2011 7:58pm
Quoting mmudasir
in my view 1506 level can be able to nice buy chance.holding buy 1543 and buy more if 1506
Thanks .
  • #7,453
  • Jun 23, 2011 8:48pm Jun 23, 2011 8:48pm
Quoting ShirleyLo
congrats on making your money from selling at 1550

you seriously gonna hold your short until 1450 ?

My employees are rushed in to buy gold coins / 100g bars tomorrow. Apparently 1510s are cheap for them. and they earn around $35k per year. Saying much about general middle class population..

I remember XTrade earlier "Fear is the biggest market mover"
i'll slowly adjust the TP levels.
IF the main stream media starts to push that the metal is on its peak, then the higher chances of reaching 1450.

let me put it this way, all the prices that we see are spot prices.
Physical purchases may not necessarily be purchased through LBMA or COMEX.

Bankers can simply dump massive paper shorts into the Futures and kick all the buyers out with margin call increase. Coordinated attacks like yesterday, send out news, push dollar up, push down gold before employment news.

The price can go down even as the physical buying is increasing.

Lets say Russia and China wanted to accumulate a lot of GOLD, they can either do it in the open market, or they can buy up the mining company and take supply from there.

There are lots of possibilities,
lets say IMF announce that they are going to unload 200tonnes of GOLD into the market, it might be a fake news, but it will scare all the buyers.
  • #7,454
  • Jun 23, 2011 9:39pm Jun 23, 2011 9:39pm
important weekly trendline charts.

just look at the previous 2 year patterns.

i'm selling the rallies until the price reaches the primary trendline from 2008 bottom
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  • #7,455
  • Jun 24, 2011 12:52am Jun 24, 2011 12:52am
you should to take profit your sell off mate it will not to do more low yesterday low is final.....double check you charts again
Trading by EA
  • #7,456
  • Edited 1:05am Jun 24, 2011 1:02am | Edited 1:05am
Quoting mmudasir
you should to take profit your sell off mate it will not to do more low yesterday low is final.....double check you charts again
Can you explain why ?

ho ok. sorry. i didn't read your precedent posts
gold is gold.
  • #7,457
  • Jun 24, 2011 1:18am Jun 24, 2011 1:18am
It's Friday afternon here, gold stuck at 1522s and I'm dead bored at work, in desperate need for some sanity.

anyone's got any view ? I've been slightly ignoring my graphs and looking at the news...fundamental datas are still on the mix, who knows what's happening to QE3, some tsunami warning in Alaska, some hackers attack, troops pulled back from Afg... ah nothing is of big importance to the lives and survival of human beings...

neutral on gold
trading is my zen
  • #7,458
  • Jun 24, 2011 1:36am Jun 24, 2011 1:36am
Quoting ShirleyLo
It's Friday afternon here, gold stuck at 1522s and I'm dead bored at work, in desperate need for some sanity.

anyone's got any view ? I've been slightly ignoring my graphs and looking at the news...fundamental datas are still on the mix, who knows what's happening to QE3, some tsunami warning in Alaska, some hackers attack, troops pulled back from Afg... ah nothing is of big importance to the lives and survival of human beings...

neutral on gold
Well I'm going to continue to look to reload the scalp longs that I sold after the 1557 break - see post #7482

Here's 240min GC chart to entertain you

http://www.screencast.com/t/qKvZdC523m3y

beeb
  • #7,459
  • Jun 24, 2011 1:48am Jun 24, 2011 1:48am
beeb,

how about silver?do you have any long position at this moment?
  • #7,460
  • Jun 24, 2011 1:51am Jun 24, 2011 1:51am
Quoting kamen
beeb,

how about silver?do you have any long position at this moment?

I only have long term positions - watching the action for scalps, bit I prefer gold as silver can be too volatile - great if you get the correct side of it but it does tend to "overshoot"......

beeb
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