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

  • #8,141
  • Jul 19, 2011 12:46pm Jul 19, 2011 12:46pm
"
Quoting beeb
am seeing 240 min kiwi at upward sloping resistance fwiw

place to go long was the two circles

beeb
Yup, got long double on the second burst. Missed the first one due to aussie trading.

Took profit off on one NZD left one to fly. AUD trying for position here....

Long from 1.0625.

Now that the HS (a little odd- book talk would want the line sloping down I believe - nuttin's perfect) anyway we should expect reversal continuation and price to test 240 min range top currently appx 0785 to break and test .1000 would be a 350 pip trade from entry.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD inverz HS to a TEE.GIF Size: 49 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,142
  • Jul 19, 2011 12:49pm Jul 19, 2011 12:49pm
Would've had a great position on Kiwi I was keyword "was" long from last thursday, but I believe I flattened a day early.

Needless to say I was annoyed when I saw the break last night.

Made up for it though!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,143
  • Jul 19, 2011 1:18pm Jul 19, 2011 1:18pm
nice short was today i short today at 1609 and still holding thanx beeps your fork help me alot and give confidence to me at this level with my analysis
Trading by EA
  • #8,144
  • Jul 19, 2011 1:41pm Jul 19, 2011 1:41pm
price down? is this the big correction?
  • #8,145
  • Jul 19, 2011 1:41pm Jul 19, 2011 1:41pm
a big smile on miss Lo today
Attached Image (click to enlarge)
Click to Enlarge Name: xau 20.07.jpg Size: 87 KB
trading is my zen
  • #8,146
  • Jul 19, 2011 1:50pm Jul 19, 2011 1:50pm
wow gold drop amazing 1584.30 low
i think this is the moment bear
langsung WA aja bro update
  • #8,147
  • Jul 19, 2011 1:56pm Jul 19, 2011 1:56pm
yes donny
ur analysis exactly worked
i ll be so thankful if show me how u choose methodes
  • #8,148
  • Jul 19, 2011 2:23pm Jul 19, 2011 2:23pm
Right now I only hold 500oz ( spot silver ).....looking to get more silver if it reach that price level.

We dont really have coin shops which sells Silver coins in Singapore ( well, we have the Mint but the premium is crazy), so I wont say that physical silver has good liquidity here[/quote]

I buy and sell silver coins at ebay, today the world is small.
  • #8,149
  • Jul 19, 2011 2:23pm Jul 19, 2011 2:23pm
Heading back to camp to Re-Load & Re-Supply

Attached Image (click to enlarge)
Click to Enlarge Name: july19 daily poss significaznt drop.gif Size: 28 KB


B
  • #8,150
  • Jul 19, 2011 2:33pm Jul 19, 2011 2:33pm
Well, I had talked about the approach of the golden bear a few posts ago, I have short positions in 1601 and 1589, was expecting a maximum of 1615, so I drew and discussions.

I'm expecting a bear at least 1550, hoping 1520.

Bom, eu tinha falado sobre a aproximação do urso do ouro a alguns posts atras, tenho posições vendidas em 1601 e 1589, estava esperando um maximo de 1615, pelo que eu tracei e pelas discussões.

Estou esperando um urso de de pelo menos 1550, torcendo para 1520.
  • #8,151
  • Jul 19, 2011 2:47pm Jul 19, 2011 2:47pm
Quoting Albedo
Well, I had talked about the approach of the golden bear a few posts ago, I have short positions in 1601 and 1589, was expecting a maximum of 1615, so I drew and discussions.

I'm expecting a bear at least 1550, hoping 1520.

Bom, eu tinha falado sobre a aproximação do urso do ouro a alguns posts atras, tenho posições vendidas em 1601 e 1589, estava esperando um maximo de 1615, pelo que eu tracei e pelas discussões.

Estou esperando um urso de de pelo menos 1550, torcendo para 1520.
Good for you. Nice Entries too.
I'm in the middle of your Drop Zone but not sure it has actually Started yet.
Some UP but More Down would be my call for the rest of the week.

B
Hmmm... Entries at $2.00 Apart? Panic/Fear ensues.
  • #8,152
  • Jul 19, 2011 3:18pm Jul 19, 2011 3:18pm
Quoting Bemac
Heading back to camp to Re-Load & Re-Supply

Attachment

B
Here is my chart with areas of interest to buy/close my short -

Attached Image (click to enlarge)
Click to Enlarge Name: Gold short.png Size: 55 KB


Reasons for the short are posted here -

http://www.forexfactory.com/showthre...68#post4792968

I have a similar short on SLV.
  • #8,153
  • Jul 19, 2011 3:24pm Jul 19, 2011 3:24pm
There's the dipski..

Few bucks below target... Looks like some mild profit taking. Let's see if it has any legs tonight or gets snatched up.

Quoting XTrade
I could see a potential dip today to 1591 area. Where the working accelerated LTL is of this current PUSH up!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,154
  • Jul 19, 2011 3:34pm Jul 19, 2011 3:34pm
I've read your reasons. News articles about record highs in gold are not something I would base my trades on for the past several month, each month we are making a new high.

A ten or 20 buck dip after a clean 130 USD rise in not really a big deal.

To each is own, yet Gold has proven time and time again fundamentally and technically it is in a strong uptrend and will remain so until major global economic factors change. Severe and I don't mean a 100 USD correction to 1510, chart damage is inflicted and major technical supports are broken, also demand would need to dry up.

Some correction of this move is imminent, it is a matter of how much it will correct, before looking for the next buying opportunity.
Weekly Channel intact and healthy. Should the top be taken 1620/35 look out above.


It seems you caught a nice little swing, why not try and catch the next 150 bucks up?

"from your link"
"I am in quite the opposite position and sold gold for a number of reasons.

1. Overbought
2. News articles like the following -
http://www.marketwatch.com/story/gol...?Link=obinsite
http://www.bbc.co.uk/news/business-14195981

As soon as I saw those articles and looked at the chart, there was no way I was going to buy gold. I saw weakness on the smaller timeframes and sold. It wasn't a great entry as it came back, but my SL was in the right place, never reached it and then it dropped big time. I was waiting all day for this drop and as I left work, I came home to a nice surprise.
"
Quoting bbakker
Here is my chart with areas of interest to buy/close my short -

Attachment

Reasons for the short are posted here -

http://www.forexfactory.com/showthre...68#post4792968

I have a similar short on SLV.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,155
  • Jul 19, 2011 3:50pm Jul 19, 2011 3:50pm
NO.

There is no big correction. Until the factors I have mentioned above happen in unison the price will rise.

I'm not saying never take a short, but you can stack your deck buy following the trend.

Let me ask all of you a question or two....

Have ANY of the corrections after the record highs we set month after month even once gone below the LOW of that correction?

?______________? Take a look at the chart.

Have we continually made new highs after these corrections?

A big correction would be a test of 1050.



Quoting gbongz
price down? is this the big correction?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,156
  • Jul 19, 2011 3:56pm Jul 19, 2011 3:56pm
On your chart I like the looks of 1550...

Have a good break! Pop in once in a while.

Quoting Bemac
http://www.james16group.us/forums/im...cons/icon1.png Time to take a break.
[indent] I think I'm going to take the rest of the summer off.

Before I leave I should say this.
To all the Gold Bulls that heard me...
Carefull...
Attachment
http://www.james16group.us/forums/at...032943&thumb=1
1,530 looks attractive.


Remember...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,157
  • Jul 19, 2011 4:11pm Jul 19, 2011 4:11pm
Quoting XTrade
I've read your reasons. News articles about record highs in gold are not something I would base my trades on for the past several month, each month we are making a new high.

A ten or 20 buck dip after a clean 130 USD rise in not really a big deal.

To each is own, yet Gold has proven time and time again fundamentally and technically it is in a strong uptrend and will remain so until major global economic factors change. Severe and I don't mean a 100 USD correction to 1510, chart damage is inflicted and major technical supports are broken, also...
Gold was clearly in overbought territory. I don't like picking tops in unchartered territory and as you stated this is in a very strong uptrend with strong fundamentals backing this uptrend. I stated that this was a correction and I would be looking to buy again at the right price.

Usually when news of new highs is posted on news web sites to the masses, they will buy. Last time the BBC posted this news (29th April 2011) http://www.bbc.co.uk/news/business-13236837, gold had a correction! Do you see the correlation? News to the masses, means opportunity for GS and the likes to sell to the masses, drop the price. They panic sell and GS and the likes buy it of them and drive the price to new highs... and so the cycle continues.

I don't trade news, but I do sit up when this 'marketing' to the masses appears. I am a technical trader and I only entered the market when I saw weakness on the lower timeframes, knowing that a correction was coming.

I will buy the dips and I stated that I will buy at $1475. What is your price for buying again?
  • #8,158
  • Jul 19, 2011 4:15pm Jul 19, 2011 4:15pm
Quoting XTrade

A big correction would be a test of 1050.
That is not a correction, but a full blown bear if you ask me. It seems that people have different definitions for corrections. A correction for me is to the previous swing low at $1475. If it breaks this swing low and prints further lows, then that is a bear market for me.

Update: Maybe not a bear market as it would still have the bull trendline in its way if it broke down below $1475. But, if it then breaks the trendline...

Still would like to know your entries for buying and if you use a stop loss or not, because it is such a strong bull market, knowing that price will get back up and break new highs!
  • #8,159
  • Jul 19, 2011 4:35pm Jul 19, 2011 4:35pm
Quoting XTrade
"from your link"
"I am in quite the opposite position and sold gold for a number of reasons.

1. Overbought
2. News articles like the following -
http://www.marketwatch.com/story/gol...?Link=obinsite
http://www.bbc.co.uk/news/business-14195981

As soon as I saw those articles and looked at the chart, there was no way I was going to buy gold. I saw weakness on the smaller timeframes and sold. It wasn't a great entry as it came back, but my SL was in the right place, never reached it and then it dropped big time. I was waiting...
You forgot this from my link -

I have marked off price points where I expect it to bounce. It seems that all the debt problems in the US and EZ have disappeared...lol...for today... risk on!

Long-term I am still bullish on gold and I can't see it breaking $1475 (never say never!), an area where I will be buying again.

It is just a correction... but for how long and by how much... who knows!

Looks like Obama pushed gold over the cliff - http://www.marketwatch.com/story/oba...dist=afterbell

I expect a proper bounce around $1576-1580 which is my target and then I will put my SL to BE and let the market do its thing.
  • #8,160
  • Jul 19, 2011 4:40pm Jul 19, 2011 4:40pm
Quoting XTrade

Have ANY of the corrections after the record highs we set month after month even once gone below the LOW of that correction?

?_FEBRUARY 2011_? Take a look at the chart.

Have we continually made new highs after these corrections?

A big correction would be a test of 1050.


P.S. I put the answer to your question in the above quote!
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