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

  • #8,041
  • Jul 15, 2011 12:07pm Jul 15, 2011 12:07pm
Price is creeping higher toward retest of old high...

at 1590.99 ask

the signal was the test of the old resistance at 1575. Very simple trade.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,042
  • Jul 15, 2011 12:13pm Jul 15, 2011 12:13pm
Quoting XTrade
Price is creeping higher toward retest of old high...

at 1590.99 ask

the signal was the test of the old resistance at 1575. Very simple trade.
see what I said? This man never leaves the thread
trading is my zen
  • #8,043
  • Jul 15, 2011 12:46pm Jul 15, 2011 12:46pm
any insight from those with a bearish opinion??
  • #8,044
  • Edited 2:12pm Jul 15, 2011 1:01pm | Edited 2:12pm
Quoting GoldBear
any insight from those with a bearish opinion??

Welcome GoldBear - over what timeframe are you bearish and perhaps you would like to explain why. I refer you to posts 8152 and 8161....

beeb
  • #8,045
  • Jul 16, 2011 2:23am Jul 16, 2011 2:23am
Sure, the next bearish move will be a part of the natural ebb and flow of a trending chart. It is necessary to let new money in, old, take profits, everyone add if they like. Also a minimal opp for some quick bucks on the way down.

Look,

The targets stand.
1600 (is basically here - ie: 1475/90 (1500) area is the true support not the line on 1500. We may see the same here with 1600 and 1595/.

In any case.
1600
1612/15
1630
1670
in the next months.

2000 is the real target for longer term. Decide which side is more lucrative for your style and place a trade. Just don't get eaten alive.

Gold CLOSED on the HIGH!

Quoting GoldBear
any insight from those with a bearish opinion??
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,046
  • Jul 16, 2011 5:11am Jul 16, 2011 5:11am
Create EA for GOLD Day Trading here is Strategy


http://www.forex-tsd.com/expert-advi...y-trading.html
  • #8,047
  • Jul 16, 2011 6:40am Jul 16, 2011 6:40am
Quoting lilpip
should I be surprised that the quarter closes 1 penny above yearly breakout for silver @ 34.65 ?
from $35.38 bias is down.
above 35.38 spells bull.
although I dont use indicators, maybe because of my lack of ability, can we get charts posted showing the range of prices below be it forks, fibs, ma ? thanks
47.65
38.91 eye on and open
32.94 eye on
30.17 bias up from
from my angle,looking at a smaller timeframe to help confirm the trend.
a break of weekly highs 36.34 helps to confirmation of trek north from quarterly pivot 35.38
clue for heading north...
a daily and weekly close above monthly pivot 38.91 lets see if next week confirms the close above and heads to monthly highs 47.65.

gold on the otherside of 1551 and sitting $1 under quarterly highs is the only thing holding her back from getting on with her pattern that she should complete.
  • #8,048
  • Jul 16, 2011 7:20am Jul 16, 2011 7:20am
Quoting whet412
Hi guy
From a well researched point of view, the best way to trade gold, silver or any stock markets is the most simplest and most profitable way out there. Buy on Monday, sell monday night, sell on friday and buy back on friday night. Do some backtesting and you will probably come up with around 89% success rate.
still waiting for any kind of supporting evidence.......
until then i conclude that friday blew this one out of the water

beeb
  • #8,049
  • Jul 16, 2011 8:03am Jul 16, 2011 8:03am
Just wanted to update the SI 20 min chart I have been annotating in posts 7950 and 8016.

No need to go through it in detail, but I hope it is fairly clear that even with the moves this week, by expanding the width of the fork with Outer Quartiles and Warning Lines one is able to see the rythm and harmony of the price within the fork....

beeb
Attached Image (click to enlarge)
Click to Enlarge Name: SI_20.jpg Size: 119 KB
  • #8,050
  • Jul 16, 2011 10:31am Jul 16, 2011 10:31am


Quoting beeb
still waiting for any kind of supporting evidence.......
until then i conclude that friday blew this one out of the water

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,051
  • Jul 16, 2011 10:39am Jul 16, 2011 10:39am
This is what I found at your link. (I couldnt resist clicking)

"anyone can create EA for gold day trading ?

strategy

1, buy and hold no stop loss
2, buy 0.20 lot size
3, buy one when gold down $40 in onz TP $80
4, no more than 3 buy positions
5, second buy will open when it down $40 in onz from first buy area, 3rd buy will open when $40 down from second buy area.
6, when one will touch at TP then next buy will open when again it down $40 in onz ??????? how to decide its started to down?

stoch and macd is lagging can anyone use zigzag but its also lagging .... can use candle stick ? or what?"


I don't know where to begin here. A. This is not a good strategy. You are lacking conviction in following a price down, while most of the time it is rising.

B. Stoplosses in gold should be hefty especially if you are trading higher term charts, yet, it is also extremely poor money management not to use one if you have a small account, as one bad entry with too much leverage ie: 3 mini lots at 100:1 - if the price falls 50 bucks on one lot, you've lost 500, now add the other two and you're down 1500 on one trade all the while using margin that you are supposed to need to buy more when the ea signals a buy at the suggested 40 dollar dip.

c. Timing - what is to say it wont take a week or two to make back that initial 50 USD decline?

- I am not trying to pick on you but I think you should go back to the drawing board and start following the spot price 24/7 eat sleeep and breath it.

Then come up with a more realistic strategy.

Perhaps, EA buys 3 lots after a 50 USD decline and sells those 3 at a 30 USD increase. IDK DYODD.
X

Edit: it seems like what you are trying to do is scale into a position. What you want to do is scale in when the price is trending up and sell at resistance, not scale in when it is falling and "hope" it rises 80 USD. There are no guarantees in this game.


Quoting Raghu_C
Create EA for GOLD Day Trading here is Strategy


http://www.forex-tsd.com/expert-advi...y-trading.html
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,052
  • Jul 16, 2011 11:29am Jul 16, 2011 11:29am
Quoting beeb
Welcome GoldBear - over what timeframe are you bearish and perhaps you would like to explain why. I refer you to posts 8152 and 8161....

beeb
I'm uncertain about the time frame. Technically I think there may be some pull back since there has been a long session. Fundamentally I'm not to keen on buying a commodity thats had such a high rate of gain in comparison to a baseline amongst the rest.
  • #8,053
  • Jul 16, 2011 11:46am Jul 16, 2011 11:46am
That strategy is just bad money management. In Forex it's often money management first - then strategy. I found lacking of both in it... sorry

Quoting XTrade
This is what I found at your link. (I couldnt resist clicking)

"anyone can create EA for gold day trading ?

strategy

1, buy and hold no stop loss
2, buy 0.20 lot size
3, buy one when gold down $40 in onz TP $80
4, no more than 3 buy positions
5, second buy will open when it down $40 in onz from first buy area, 3rd buy will open when $40 down from second buy area.
6, when one will touch at TP then next buy will open when again it down $40 in onz ??????? how to decide its started to down?

stoch and macd is lagging can anyone use zigzag...
trading is my zen
  • #8,054
  • Jul 16, 2011 12:06pm Jul 16, 2011 12:06pm
Moving HUI Index does not currently very bullish on mining stocks. So, this week's HUI index chart, the RSI has reached overbought status based on seeing a sell signal. HUI Main itself rising resistance line, it happened while in motion. Therefore, a short-term drop in gold mining stocks appear likely. gold miners, this week, short-term (within the GDX) ETF chart, the previous decline in the adjusted 61.8% and this level is taken out. so long as the trend remains down. One possibility, although indications are more likely to decline. This is consistent with the long-term HUI index chart analysis, the received signal. Other highly reliable analysis of a sell signal from the Gold Miners Bullish Percent Index, In fact, we show a top looks very close to a situation. The level of RSI and Williams% R. purchase both here and in the last few years has been a reliable tool to predict the local superiors. Of course, the top of a local short-term is synonymous with a sell signal for investors. In summary: for the full version of this article, gold and silver mining stocks rallied significantly recently, but a large number of short-term bearish indicators give a perspective. Przemyslaw Radomski
http://i56.tinypic.com/i1eg3l.jpg
  • #8,055
  • Jul 16, 2011 1:26pm Jul 16, 2011 1:26pm
let me explain the strategy again ...

gold never down more than $120

deposit $10000

average down is $40

1, buy 0.10 lot size when gold down $40 TP also $40

if again down -$40 open position will be -$400 then open second buy if it down again -$400 + -$400 + -$400 = -$1200

your last buy ( 3rd ) from here but market down again -$40 x 3 = $120 in onz

-400 -400 -400 -400 -400 -400 x 6 = -$2800 from $10k is good money management

check weekly and monthly chart gold will start up when down touch more than $100

3rd buy TP $120 x 10 = $1200
2nd buy TP $80 x 10 = $800
1st buy TP $40 x 10 = $400

Total profit $2400
  • #8,056
  • Jul 16, 2011 2:08pm Jul 16, 2011 2:08pm
Quoting Raghu_C
let me explain the strategy again ...

gold never down more than $120

deposit $10000

average down is $40

1, buy 0.10 lot size when gold down $40 TP also $40

if again down -$40 open position will be -$400 then open second buy if it down again -$400 + -$400 + -$400 = -$1200

your last buy ( 3rd ) from here but market down again -$40 x 3 = $120 in onz

-400 -400 -400 -400 -400 -400 x 6 = -$2800 from $10k is good money management

check weekly and monthly chart gold will start up when down touch more than $100

3rd buy TP $120 x 10 = $1200...

or why not study technical analysis and buy near the bottom?

simples

beeb
  • #8,057
  • Jul 16, 2011 3:39pm Jul 16, 2011 3:39pm
GB,
That is unfortunately not a fundamental reason. The fundamental reason to buy gold either as a trader or as an asset is to make and sustain wealth, against,
inflation,
high unemployment,
Global economic crisis'
etc.

Also against what?
Look at oil, silver, copper, palladium (has doubled in price in the past few years) similar to a stock splitting. The same with silver.
Look at sugar & cotton.

There was no better example of than Friday's trade, BUY THE DIP. Not sell the rallies.




Quoting GoldBear
I'm uncertain about the time frame. Technically I think there may be some pull back since there has been a long session. Fundamentally I'm not to keen on buying a commodity thats had such a high rate of gain in comparison to a baseline amongst the rest.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,058
  • Jul 16, 2011 4:29pm Jul 16, 2011 4:29pm
suggest people make the time to listen to these:

http://kingworldnews.com/kingworldne...en_Davies.html

http://kingworldnews.com/kingworldne...w_Maguire.html

http://www.kingworldnews.com/kingwor..._Douglass.html

beeb
  • #8,059
  • Jul 16, 2011 4:32pm Jul 16, 2011 4:32pm
Gold Buys simple dipping method using simple SR and a naked (or nude xxx )
chartski
Attached Image (click to enlarge)
Click to Enlarge Name: Gold example.GIF Size: 22 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,060
  • Jul 16, 2011 5:38pm Jul 16, 2011 5:38pm
Oil also highlights the type of price change ratios I'm talking about.
http://www.kitco.com/LFgif/pt92-pres.gif
http://www.kitco.com/LFgif/rd00-09.gif

Quoting XTrade
GB,
That is unfortunately not a fundamental reason. The fundamental reason to buy gold either as a trader or as an asset is to make and sustain wealth, against,
inflation,
high unemployment,
Global economic crisis'
etc.

Also against what?
Look at oil, silver, copper, palladium (has doubled in price in the past few years) similar to a stock splitting. The same with silver.
Look at sugar & cotton.

There was no better example of than Friday's trade, BUY THE DIP. Not sell the rallies.
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