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

  • #10,021
  • Sep 13, 2011 7:29am Sep 13, 2011 7:29am
gold is on a sell at the moment...

i cant see its bullish nature holding too well, unless it crosses over 1915 it seems that it has reached a peak. so one should tread with caution when considering buying, unless you are a short term scalper.

iam hoping it does break well over 1915 though, as i have a long position still open from a few months ago.

but iam ready to take shorts if the overall bias turns bearish. at the moment the bearish nature is not strong enough for me. i promised not to enter shorts unless there is a definate change around.


  • #10,022
  • Sep 13, 2011 7:32am Sep 13, 2011 7:32am
Quoting whatfx
gold is on a sell at the moment...

i cant see its bullish nature holding too well, unless it crosses over 1915 it seems that it has reached a peak. so one should tread with caution when considering buying, unless you are a short term scalper.

iam hoping it does break well over 1915 though, as i have a long position still open from a few months ago.

but iam ready to take shorts if the overall bias turns bearish. at the moment the bearish nature is not strong enough for me. i promised not to enter shorts unless there is a definate change around....
double check your charts at the moment this advice is free of cost to you now pa is 1830
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  • #10,023
  • Sep 13, 2011 7:32am Sep 13, 2011 7:32am
Quoting doctortyby
Hello Traders,

From a Technical point of view Gold and Silver prices is testing an important Key Level, and, depending on the Price Action, could go far more south...

From a Fundamental point of view the Euro Economic concerns have helped the Buck to gain ground in front of the other currencies, and to lower the risc appetite of investors, who look for safe heavens in US $ and Jpy... But Gold and Silver Bulls could Burst any time, and a rally could take over.

I am neutral in both Precious Metals for the Momment.
Check out my charts and tell...

not too sure how to read your charts my friend....way too messy.

but your neutral stance is correct, just like iam holding back at present.
  • #10,024
  • Sep 13, 2011 7:41am Sep 13, 2011 7:41am
Update on SI daily originally posted in #9533 and shown in #9534

http://www.screencast.com/t/7wkRLHksWSIX

beeb
  • #10,025
  • Sep 13, 2011 7:49am Sep 13, 2011 7:49am
Quoting beeb
Update on SI daily originally posted in #9533 and shown in #9534

http://www.screencast.com/t/7wkRLHksWSIX

beeb
beep always your charts looking rocking with support and resistance .these are always very helpful please i am looking Gold charts
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  • #10,026
  • Sep 13, 2011 9:24am Sep 13, 2011 9:24am
Quoting mmudasir
double check your charts at the moment this advice is free of cost to you now pa is 1830

incorrect, price is down to 1811. so its still a sell.
  • #10,027
  • Sep 13, 2011 9:30am Sep 13, 2011 9:30am
Quoting realjumper
sigh......I NEVER SAID that bull run was over.

Until the record high is taken out.....continuation of the bull run is uncertain. The pa has been rejected twice already
I follow what you are saying. It is plain as day on a chart :nerd: which has me puzzled why others don't.
  • #10,028
  • Sep 13, 2011 11:28am Sep 13, 2011 11:28am
Quoting mmudasir
beep always your charts looking rocking with support and resistance .these are always very helpful please i am looking Gold charts
Glad you find them useful...

Here's GC 10 min with possible evidence of bottoming - be mindful we are still subject to COT cutoff so a spike down isn't out of the question......Not yet seeing resistance being tested on 20s or 240s so I stress this is very tentative. However there is possibility of a bullish switchback forming along the circled line. Probably one to watch rather than trade imho...

http://www.screencast.com/t/CByY5vhb

beeb
  • #10,029
  • Edited 11:53am Sep 13, 2011 11:43am | Edited 11:53am
Quoting beeb
Glad you find them useful...

Here's GC 10 min with possible evidence of bottoming - be mindful we are still subject to COT cutoff so a spike down isn't out of the question......Not yet seeing resistance being tested on 20s or 240s so I stress this is very tentative. However there is possibility of a bullish switchback forming along the circled line. Probably one to watch rather than trade imho...

http://www.screencast.com/t/CByY5vhb

beeb
Thank you Beeb
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  • #10,030
  • Sep 13, 2011 11:45am Sep 13, 2011 11:45am
Quoting whatfx
incorrect, price is down to 1811. so its still a sell.
Sell is not a matter the matter is that we see might be 1794 is a bottom.but glad you see a nice scalp..
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  • #10,031
  • Sep 13, 2011 11:59am Sep 13, 2011 11:59am
I have something similar to beeb
  • #10,032
  • Sep 13, 2011 12:27pm Sep 13, 2011 12:27pm
Just a question.

How strong price co-relation between XAU/USD and XAG/USD?

cheers
  • #10,033
  • Sep 13, 2011 12:56pm Sep 13, 2011 12:56pm
We might be on the move...
Anything can happen.
  • #10,034
  • Sep 13, 2011 1:26pm Sep 13, 2011 1:26pm
I presume you mean upwards... I'd like to differ on that though, still see some more droppage occuring for XAG and XAU.

Quoting ddinnov
We might be on the move...
  • #10,035
  • Sep 13, 2011 1:37pm Sep 13, 2011 1:37pm
Quoting KinG-Solomon
I presume you mean upwards... I'd like to differ on that though, still see some more droppage occuring for XAG and XAU.
In asian session?

It makes sense that London hours are seeing the Euro-riche unwind their bull positions on gold and silver. Do you think we will see a drop in Asian session?

And when you say "droppage", do you mean below 1800?

I have no opinion apart from a maintained buy bias with the expectation that price will rise at some point in the future. My sell stops below only strengthen my position as long as I am persistent.

I am impressed by some of your previous calls, so these are questions asked with due humility. I usually avoid calling short term movements, but still can imagine a rally to the mid-1800s. I'm not betting on this point unless I manage to catch a upward wave, adding to my buy position with a break-even stop loss (which will, in all likelihood get triggered - as is the case with most of my break-even stop losses).

Cheers
  • #10,036
  • Sep 13, 2011 1:38pm Sep 13, 2011 1:38pm
Quoting ddinnov
We might be on the move...
agreed
  • #10,037
  • Sep 13, 2011 1:49pm Sep 13, 2011 1:49pm
well, we ARE on the move..and a big one is in the works..
the weekly is looking better and better and now I am almost confident into a move way past 2000 into 2300-2500 in about 2 month's time...
Any buy sub-1800 is a must-hold..
  • #10,038
  • Sep 13, 2011 2:45pm Sep 13, 2011 2:45pm
Godot style.
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Hello.
  • #10,039
  • Sep 13, 2011 3:04pm Sep 13, 2011 3:04pm
Quoting emene
Godot style.
LOL ... but on a more serious note.

XAU/XAG will NOT decline. What I've come to understand is that those two instruments were purposely designed and created solely to make precious metals bugs filthy rich - no matter the circumstance.

could be wrong but recent price action supports my observation.
...maybe there is a precious metal stimulus program in action.
  • #10,040
  • Sep 13, 2011 3:26pm Sep 13, 2011 3:26pm
Quoting Warwick
LOL ... but on a more serious note.

XAU/XAG will NOT decline. What I've come to understand is that those two instruments were purposely designed and created solely to make precious metals bugs filthy rich - no matter the circumstance.

could be wrong but recent price action supports my observation.
...maybe there is a precious metal stimulus program in action.
Hey Warwick, I'd love you to elaborate on the statement about stop loss orders in your tag.

How exactly do stop loss orders dictate market action?
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