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

  • #8,381
  • Jul 26, 2011 8:19pm Jul 26, 2011 8:19pm
I'd like to see 1610 hold, it was tested a few timesin the past 24hours and held. any dip gets bid up with some big money flows. I'm waiting for all the short covering to cause an explosion if this debt ceiling turns to poop.

On the other hand with options expiry's and profit taking we may see your 1605 today time will tell! good luck

My 2c

Mitch

Quoting Bemac
,k We are all waiting to hear the descision on US Debt & I'm a Gold Bull. (Surprise)

But...
Haven't placed the Trade yet but 1,605 keeps hovering in my head.
Given the right "Bar Structure" matched with FA, that price could be my Biggest Gold Trade in Years.

B
EDIT* ADD
btw. check the time of this post. I expect Longs to take some casualties within the next 12-14 hours.
  • #8,382
  • Jul 26, 2011 8:44pm Jul 26, 2011 8:44pm
Quoting Bemac
,k We are all waiting to hear the descision on US Debt & I'm a Gold Bull. (Surprise)

But...
Haven't placed the Trade yet but 1,605 keeps hovering in my head.
Given the right "Bar Structure" matched with FA, that price could be my Biggest Gold Trade in Years.

B
EDIT* ADD
btw. check the time of this post. I expect Longs to take some casualties within the next 12-14 hours.
I'm Bullish but this is starting to show something beyond..

B
No Math but 2,000? Who knows.
  • #8,383
  • Jul 26, 2011 8:51pm Jul 26, 2011 8:51pm
Huh.
Attached Image (click to enlarge)
Click to Enlarge Name: 1,600 dollar gold daily july 26.gif Size: 42 KB

I'm a Bull but this has to have some Exhaust.
Down to 1,618-15 to recover.

B
  • #8,384
  • Edited 11:48pm Jul 26, 2011 11:25pm | Edited 11:48pm
Quoting lilpip
mon. silver highs hit @ $41.05 and rotated back to pivot area which was the low for the day.
although $41.73 is of extra interest this week will be watching how 41.27 responds first.
tue. slvr
41.27
39.83
38.91
keeping with the trend up, will be watching how 1612 responds today.
personally I would be watching how 1627 -28 area responds before adding to as it may be a point in time for a daily rotation back as silver did yesterday.
gold tues.
1627-28
1606
1594
Although weekly high areas have been achieved for the most part ($1628 and $41.73) jury is still out on direction.
Will it be rotation back or breakout ?
Looking at the dailys, once again the rotation back to the daily trend guide areas hold so they act like they want to keep it north. what ever the case is she has given us a heads up, a drop below is the first sign of heading south.
wed.gold
1628
1607
1586 with eye on 1594 response
wed. slvr
41.44
40.01
38.58
  • #8,385
  • Jul 27, 2011 4:43am Jul 27, 2011 4:43am
Anyone have same GAPS with me or it just my chart? My silver chart have GAPS at 39.5.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 25 KB
Keep Simple...!
  • #8,386
  • Jul 27, 2011 5:19am Jul 27, 2011 5:19am
One price target of many on the upride hit.

1625 and counting.

@ Bemac - On dip I can see support coming in on your aforementioned area
around 1600/5

@ Beeb - "calling the top for hundreds" !! as we add another quarter.!

Anyone trading Aussie??
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,387
  • Jul 27, 2011 5:21am Jul 27, 2011 5:21am
Turning down from my pennant target area. Will see how it reacts here. Looking to exit around this price is my plan for now. Seems like it can drop back any time.

No volume here.
Attached Image
Trends I Love Finding
  • #8,388
  • Jul 27, 2011 7:15am Jul 27, 2011 7:15am
Strong uptrend, flirting with recent highs, long SI Sep from yesterday. If no proper up move today, will exit position.
Attached Image (click to enlarge)
Click to Enlarge Name: SI270711.JPG Size: 176 KB
  • #8,389
  • Jul 27, 2011 7:24am Jul 27, 2011 7:24am
Well what is your entry? Dip is being bought.

Quoting JodyOng
Strong uptrend, flirting with recent highs, long SI Sep from yesterday. If no proper up move today, will exit position.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,390
  • Edited 8:01am Jul 27, 2011 7:28am | Edited 8:01am
got to admit to playing a waiting game at the moment as I see plenty of potential volatility and less certain trending - so am not jumping in either way with both feet....

always the possibility of a post-opex dip to deter delivery. also with imminent announcement re US there could be a whippy market.

have stinkers in place just in case

beeb

PS worth a look

http://traderdannorcini.blogspot.com...term-view.html
  • #8,391
  • Jul 27, 2011 8:37am Jul 27, 2011 8:37am
beeb why are you side-lined looks like we are gunning for 1650!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,392
  • Edited 11:39am Jul 27, 2011 8:38am | Edited 11:39am
Quoting XTrade
beeb why are you side-lined looks like we are gunning for 1650!

i'm not sidelined - i'm very long from lower down - first buy on this run is a couple of bucks from the low - just not adding anything other than scalps until we get through this period.....

beeb


edit - I still think there is significant upside - the only question in my mind is from what level it starts......
  • #8,393
  • Jul 27, 2011 8:40am Jul 27, 2011 8:40am
gold powering on with AUD, many playing the defualt hand?? my god it would be a rush to be holding gold if the US came out and annouced a defult! shawooosh limit lock pits!
  • #8,394
  • Jul 27, 2011 8:41am Jul 27, 2011 8:41am
Quoting >Apocalypto<
gold powering on with AUD, many playing the defualt hand?? my god it would be a rush to be holding gold if the US came out and annouced a defult! shawooosh limit lock pits!

forget the pits - hold physical



beeb
  • #8,395
  • Jul 27, 2011 8:42am Jul 27, 2011 8:42am
Quoting beeb
forget the pits - hold physical



beeb
lol i hear u man. wonder if the silver margin surfers had thought about that option pre crash!!

Gold Weekly has such a solid trend from 08
  • #8,396
  • Jul 27, 2011 8:44am Jul 27, 2011 8:44am
Similarly to how we flew through 1400 to 15 we may fly thru 1600 to 1700

Lets see
Before the 4 digits 700/800s to 1000 then back to 750 then next time
we flew from the 750 area handle to

1000 - Up and down some time to crack thru - once 1050 hit we never saw 1000 again. very significant area
1100 - Quick to 12
1200 - More up and down and sideways
1300 - Lots of Highs and lows. this was the triple record high with all those BIG "this is it's the trend is over reversals"
1400 - Fade - flew through barely remember
1500 - Harder to just crack - new highs )obviously - but some sideways and all.
1600 - so far at + 30 in not proving to hold much resistance
1700 - expecting a bit of resistance due to the - speculating that
1800 - will likely fly to
1900 - and 1950 due to panic of 2000
2000 - should get some heavy resistance around 1980/1990 and the psycho level itself.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,397
  • Jul 27, 2011 8:47am Jul 27, 2011 8:47am
Closeup on my old 240min GC fork:

http://www.screencast.com/t/5fApY9yO1W3

Am seeing a double tap on the dashed outer quartile as current resistance. Needs to get through this level and maintain altitude. Otherwise will be looking at the lower lines for support and entries...

beeb
  • #8,398
  • Jul 27, 2011 8:49am Jul 27, 2011 8:49am
Quoting beeb
i'm not sidelined - i'm very long from lower down - first buy on this run is a couple of bucks from the low - just not adding anything other than scalps until we get through this period.....

beeb
hey thanks for reminding me, I have a large 24c gold neaklace from the 650ish area.... that would up a fait bit now... yehyeh before you say it... was in my grand master flash stage
  • #8,399
  • Jul 27, 2011 8:52am Jul 27, 2011 8:52am
Quoting >Apocalypto<
hey thanks for reminding me, I have a large 24c gold neaklace from the 650ish area.... that would up a fait bit now... yehyeh before you say it... was in my grand master flash stage

as long as you don't post pics lol

beeb
  • #8,400
  • Jul 27, 2011 8:55am Jul 27, 2011 8:55am
Quoting beeb
as long as you don't post pics lol

beeb
LOL no pics, you're safe there. little action on EU tonight all about the AUD.
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