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

  • #8,781
  • Aug 10, 2011 6:04pm Aug 10, 2011 6:04pm
^ Wow, I was on the way to work when that happened (I'm in Australia) and somehow gold will always be going up for now.
  • #8,782
  • Aug 10, 2011 6:11pm Aug 10, 2011 6:11pm
Highs of 1814's. Out at 1810 target. CME raises margin by 22% it seems.
Trends I Love Finding
  • #8,783
  • Aug 10, 2011 6:34pm Aug 10, 2011 6:34pm
Just awesome... For a moment, I thought I was being too optimistic few days ago when I said we were going to reach 1800 this week. Amazing.
The Black Swan: The Impact of the Highly Improbable
  • #8,784
  • Aug 10, 2011 11:05pm Aug 10, 2011 11:05pm
whoa! what did I miss by not trading gold, lord! lol. been scalping silver and bought a heap lot of USDJPY !

always worth a read !

http://economictimes.indiatimes.com/...ow/9559228.cms
trading is my zen
  • #8,785
  • Edited 11:30pm Aug 10, 2011 11:07pm | Edited 11:30pm
Quoting fawaol
What can you say about silver???
Id say shes waiting on gold to complete her move up to 1935 area although my eyes would open up a bit @ 1885 area.
Who knows the markets owner may throw everything but the kitchen sink at us again as they did silver@ $50.
Deception , propaganda, major manipulation changing the rules, sending silver one way and gold the other.
We will know when they start acting differently.
A brakeout of 1935 and Id say thats the beggining of parabolic move otherwise Id expect her to rotate back to 1551 to test her breakout with silver following.
  • #8,786
  • Aug 10, 2011 11:26pm Aug 10, 2011 11:26pm
Quoting Bemac
I still have another 20 Minutes or so.
Well... There it is.

Attachment
That's what I mean by staying In Front.

B
Nice call. My Gold ICCE Box from months ago had 100% FIB @ 1807.21
Not to shabby of an indicator.

I'd really like to see the Sunday Gap closed now that we hit the 100% fib...
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #8,787
  • Aug 11, 2011 12:50am Aug 11, 2011 12:50am
Hmmm, i wonder, when will the correction, the true correction occur, this gold is unbelievable, anyways, i've closed 7 positions and now i'm waiting, dunno something is fishy i'm staying out, well semi-out with 5 positions rolling .
  • #8,788
  • Aug 11, 2011 2:05am Aug 11, 2011 2:05am
Quoting beeb
no doubt we'll get a margin increase rumour too......

beeb

message 8853

and so it came to pass



beeb
  • #8,789
  • Aug 11, 2011 2:44am Aug 11, 2011 2:44am
Bloomberg gives Details:

CME increased initial Margin $ 7,425 per Contract, the Margin for hedging increased to 5,500 $

it seems, they try to do anything to stop the Rise of Gold - as they did the same with Silber

I am still a Newbee, so could anybody my explain some more Details what it means with this new Datas to trade 1 Gold Future Contract - either sell ob buy?

I am Papapertrading on my IB Account before I go to real Money

Cheers
  • #8,790
  • Aug 11, 2011 3:34am Aug 11, 2011 3:34am
Quoting MaaTini
Bloomberg gives Details:

CME increased initial Margin $ 7,425 per Contract, the Margin for hedging increased to 5,500 $

it seems, they try to do anything to stop the Rise of Gold - as they did the same with Silber

I am still a Newbee, so could anybody my explain some more Details what it means with this new Datas to trade 1 Gold Future Contract - either sell ob buy?

I am Papapertrading on my IB Account before I go to real Money

Cheers

contact your broker - do your own research, google is your friend - that's the best way to understand...

good luck



beeb
  • #8,791
  • Aug 11, 2011 5:27am Aug 11, 2011 5:27am
^XAUUSDGold 1,784.07
^XPDUSDPalladium726
^XPTUSDPlatinum1,768
^XAGUSDSilver 38.977

05:13

gold is more expensive than platinum?!? daaaaaaammmn!!!!
  • #8,792
  • Aug 11, 2011 5:48am Aug 11, 2011 5:48am
Looking for 1730's today. Let's see.

Reason: Retrace to supports on margin hike
Trends I Love Finding
  • #8,793
  • Aug 11, 2011 6:51am Aug 11, 2011 6:51am
As I've said before, the effects of a margin hike should be far less in the gold market than they were in the much smaller silver market - in addition the underpinning effect of the London spot market should not be underestimated.

However gold has patently been overstretched for some time so a retracement should not be a surprise. Suggest, as always, looking at the smaller charts to give clues to the larger. And, most importantly , use stops......

beeb
  • #8,794
  • Edited 8:33am Aug 11, 2011 8:02am | Edited 8:33am
First support for 1755/56 and an even stronger one at 1742. Looking to go long there if the price action is convincing.
Trends I Love Finding
  • #8,795
  • Aug 11, 2011 8:32am Aug 11, 2011 8:32am
Bemac, can you post some ICCE charts please?
THanks!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,796
  • Aug 11, 2011 8:33am Aug 11, 2011 8:33am
Here is the chart beeb.

Ultra short term we have some sort of expanding pattern (not too strong to me).

Overall the pennant lines will form short term term supports. Margin hike of 22% would mean that speculators lose 22% purchasing power on gold (instead of buying 1 lot a person can afford probably 0.8). Physical demand is no doubt higher but short term we can see some downside I believe.

Ok gold broke that ultra short term support as im typing

ADD: I saw a post by beeb asking a time frame for the support..can't see the post now
Attached Image
Trends I Love Finding
  • #8,797
  • Aug 11, 2011 8:39am Aug 11, 2011 8:39am
Quoting Tilf
Here is the chart beeb.

Ultra short term we have some sort of expanding pattern (not too strong to me).

Overall the pennant lines will form short term term supports. Margin hike of 22% would mean that speculators lose 22% purchasing power on gold (instead of buying 1 lot a person can afford probably 0.8). Physical demand is no doubt higher but short term we can see some downside I believe.

Ok gold broke that ultra short term support as im typing

ADD: I saw a post by beeb asking a time frame for the support..can't see the post now

thanks tilf - i removed the post as i thought i was being a bit harsh on reflection



beeb
  • #8,798
  • Aug 11, 2011 8:44am Aug 11, 2011 8:44am
Quoting beeb
thanks tilf - i removed the post as i thought i was being a bit harsh on reflection



beeb
No worries. I know how irritating one line comments can be. Will try to back it up with charts whenever possible.

1755 area does not look convincing yet to me. Short term patterns look as if it may head to 1720 but I'm not banking on that view. It's too much for a day I feel.

I usually go long on the first retrace off the support bounce to give me a good return and to know the stop. Will wait for it.
Trends I Love Finding
  • #8,799
  • Aug 11, 2011 8:45am Aug 11, 2011 8:45am
Quoting Tilf
First support for 1755/56 and an even stronger one at 1742. Looking to go long there if the price action is convincing.

Good call!
The Black Swan: The Impact of the Highly Improbable
  • #8,800
  • Aug 11, 2011 9:13am Aug 11, 2011 9:13am
Suggestions.

If you have never traded futures before I strongly suggest you start trading Gold via FX broker if you are not in the US.

Unless you have a spare 20k that you are ready to kiss goodbye you are far better off taking a couple Gs and putting it into an FX broker and starting to trade MICRO LOTS Live.

EVERYTHING and I mean EVERYTHING changes Once you go live.

I don't mean this in a bad way, but if you don't know what an increase in margin means in gold trading, you are FAR FAR away from going live especially trading FUTURES.

I double a demo account yesterday from 5k to appx 10 really around 8500. so what? I was over leveraged - had too many open trades no stops no take profits. etc.

Gold is EXTREMELY volatile and is not as easy as just buy, when there is real money being risked. If you are overleveraged a 15 or 20 USD swing - very common daily could margin call you.

Now - always best to DYODD but you can start here.

http://www.cmegroup.com/trading/metals/

The answer you want is within.

Quoting MaaTini
Bloomberg gives Details:

CME increased initial Margin $ 7,425 per Contract, the Margin for hedging increased to 5,500 $

it seems, they try to do anything to stop the Rise of Gold - as they did the same with Silber

I am still a Newbee, so could anybody my explain some more Details what it means with this new Datas to trade 1 Gold Future Contract - either sell ob buy?

I am Papapertrading on my IB Account before I go to real Money

Cheers
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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