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

  • #8,441
  • Jul 31, 2011 5:15pm Jul 31, 2011 5:15pm
Quoting GoldBear
ouch

see message #8554

beeb
  • #8,442
  • Jul 31, 2011 5:21pm Jul 31, 2011 5:21pm
Quoting Tilf
Daily charts make me believe that gold will not break 1650 (if it is) without getting back down to 1603. Lets see about this view.

Reason: EW theory 5 waves on the daily completes some patterns.
lol that was quick...low near 1605 on my charts.
Trends I Love Finding
  • #8,443
  • Jul 31, 2011 5:30pm Jul 31, 2011 5:30pm
Too early to call but watchout for this expanding wedge. Reversals from here tend to lead to a strong trend and it usually keeps going in one direction for a long time. The swing low on the open was right on to the wedge bottom line.
Attached Image
Trends I Love Finding
  • #8,444
  • Jul 31, 2011 5:52pm Jul 31, 2011 5:52pm
interesting. true or facts
http://sg.news.yahoo.com/apple-more-...140802258.html
  • #8,445
  • Jul 31, 2011 9:23pm Jul 31, 2011 9:23pm
im surprised these metals are tanking so much.. I understand AUD bank is on holidays and it might be 'slow' but dropping like this while AUD is rising and USDX is flat is wierd.

I would have expected to float around 1620 and 39.8 for the day

Also on the graphs for both we have bounced off these numbers 1610/39.3 MANY times, im surprised its testing them again.
  • #8,446
  • Aug 1, 2011 5:50am Aug 1, 2011 5:50am
i am seeing 1575 area as a major support area Gold have Selling pressure ..
Trading by EA
  • #8,447
  • Aug 1, 2011 8:00am Aug 1, 2011 8:00am
see chart
Attached Image (click to enlarge)
Click to Enlarge Name: chart 9gofld.gif Size: 25 KB
Trading by EA
  • #8,448
  • Aug 1, 2011 8:46am Aug 1, 2011 8:46am
Hey rite now advisinf friend of buyin ETF SLV. My target is more than 50, and time span up to 2 years. Problem is price is quite high now but my friend wants buy it now he is quite impatient wats ur advise bros I think we go 33-37 before we break 41 again.
  • #8,449
  • Aug 1, 2011 11:51am Aug 1, 2011 11:51am
So, now that OBAMA did a deal for the DEFAULT, will this affect GOLD in any way?

I will try to stay out of any new trades until Aug 3rd anyways.
The Black Swan: The Impact of the Highly Improbable
  • #8,450
  • Aug 2, 2011 7:03am Aug 2, 2011 7:03am
and the gold break the highest record, once again !
  • #8,451
  • Aug 2, 2011 7:27am Aug 2, 2011 7:27am
Seems like stop hunting for the shorts prior to some numbers. Going short here with a tight stop. Let's see how it goes.
Trends I Love Finding
  • #8,452
  • Aug 2, 2011 7:39am Aug 2, 2011 7:39am
Quoting Tilf
Seems like stop hunting for the shorts prior to some numbers. Going short here with a tight stop. Let's see how it goes.
Why are you going shorts from here?
US data show its bad
  • #8,453
  • Aug 2, 2011 7:52am Aug 2, 2011 7:52am
Quoting Tilf
Seems like stop hunting for the shorts prior to some numbers. Going short here with a tight stop. Let's see how it goes.
Bad idea.
I think it is not stops but bears hunting

Anyway "Let's see how it goes".
  • #8,454
  • Aug 2, 2011 8:00am Aug 2, 2011 8:00am
Quoting jezek5
So after testing new ground to the top it tested the ground
below and promptly shot up and posted a new high,
strong close again as well,holding it's new level nicely.
Still looks bullish,don't fight the trend.
Looks like we're breaking out this time,next stop 1750,
only concern is the highest level of longs v shorts for
a long time,we really need them shorts in the game
to really light up the after burners.
Same chart as in the link only in hourly form here.
Attached Image (click to enlarge)
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You can remain irrational longer than you can remain solvent.
  • #8,455
  • Aug 2, 2011 8:07am Aug 2, 2011 8:07am
What reversal are you looking for?

One would be wise to follow the trend here.

You are aware we just made yet another new high.

Tilf: Trends I like to follow....

Milf: Mother I'd like to #$!%

Sorry uncanny resemblance ! Had to do it.

Quoting Tilf
Too early to call but watchout for this expanding wedge. Reversals from here tend to lead to a strong trend and it usually keeps going in one direction for a long time. The swing low on the open was right on to the wedge bottom line.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,456
  • Aug 2, 2011 9:24am Aug 2, 2011 9:24am
my chart
Attached Image (click to enlarge)
Click to Enlarge Name: oro.gif Size: 25 KB
  • #8,457
  • Aug 2, 2011 10:07am Aug 2, 2011 10:07am
I don't know about you guys but I have seen markets move up an hour before bad economic numbers and then come back down. Market moves up in a knee jerk reaction when the data is released and then corrects back down. Just wanted to fish that down move. It is not a short which has a $100 tp to it.

I am short at $1537.40 with a stop at $1545.50. Will live another day even if I get stopped out.
Trends I Love Finding
  • #8,458
  • Edited 10:36am Aug 2, 2011 10:09am | Edited 10:36am
Quoting XTrade

Tilf: Trends I like to follow....

Milf: Mother I'd like to #$!%

Sorry uncanny resemblance ! Had to do it.
Well it was inspired from there lol

Added: Just noticed you quoted me for the expanding wedge post. I will drop a post soon regarding the wedge pattern. Not necessary we reverse everytime but reversal have a strong effect. Enough effect to hit $1558 long term support.
Trends I Love Finding
  • #8,459
  • Aug 2, 2011 10:22am Aug 2, 2011 10:22am
News wire:

1. White House says Obama to make a statement about the debt bill 1215 ET
2. White House says Obama statement to take place after US Senate vote on debt and deficit bill

Could shake the markets a bit before coming back to the same point.
Trends I Love Finding
  • #8,460
  • Aug 2, 2011 10:48am Aug 2, 2011 10:48am
Little dip to 1634 bought, looking for 1644. 10 USD swing for your short termers.

Look for breakout if the PA holds above 1640
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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