XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 534 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD, Silver/USD

Similar Threads

Gold futures & XAU 78 replies

GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies

Daytrade - XAU/USD & XAG/USD 14 replies

XAU/JPY & XAG/JPY 13 replies

Successful XAU/USD traders 7 replies

Attachments: XAU/USD & XAG/USD - Gold & Silver Traders Thread
Exit Attachments

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

  • #10,661
  • Sep 22, 2011 7:08am Sep 22, 2011 7:08am
Silver is getitng hammered at <38 now.. Can anyone imagine NY reversing direction or more of the same just with more volume?
Anything can happen.
  • #10,662
  • Sep 22, 2011 7:24am Sep 22, 2011 7:24am
Mentality right now is sell the rallies.

DXY at a 7 month high.
  • #10,663
  • Sep 22, 2011 7:27am Sep 22, 2011 7:27am
It does look like one of those landslide days where all the lemmings run off the edge of the cliff.

Looks like it's the end of the world (again)!
Anything can happen.
  • #10,664
  • Sep 22, 2011 7:37am Sep 22, 2011 7:37am
Quoting ddinnov
It does look like one of those landslide days where all the lemmings run off the edge of the cliff.

Looks like it's the end of the world (again)!


thats the way it seems to me.

iam out of my long position. cant hold it any longer. the losing pips started to pile up, had to close it. my philosophy: cut losses short asap if they start piling up quickly. besides ,today the entire market is crashing. not good to buy at all.

i will make the lost pips back. i promise.


i wanna know where are those guys that slated me when i had predicted a few days ago that gold is due to go down pretty soon. i.e. a turn around to the downside is imminent. got some bad comments from many on here saying gold could not fall, still bullish, that i couldnt read the charts etc. some laughed at me and made childish remarks. namely a member called 'Tiff'.
also, you as well ddinnov, if i remember correctly.

where are you guys now ?? you should be eating your own words, and be ashamed of the way you ridiculed me. i see you are all now taking short positions that i had predicted and jumping on my bandwagon. what happened to all your bullish sentiment ?? next, be careful who you make fun of.
  • #10,665
  • Sep 22, 2011 7:39am Sep 22, 2011 7:39am
Seems like gold is closing on to the long term bottom. There's no blood yet, a move below 1720 or 1700 would take the seat out for many. Fundamentally, there are very little reasons to buy any currency (even $) right now. Money has to go somewhere or else we could be into deflation.

Nevermind, I'm going to stock Gold heavy tonight and tomorrow.
Trends I Love Finding
  • #10,666
  • Sep 22, 2011 7:42am Sep 22, 2011 7:42am
Yeah you are right! Its december bro. Happy then?

I think you don't remember your words december baby..not so soon.

I don't want to get started again but you did not earn a dime on this fall..so what was the prediction about? I guess you should try for cnbc ...they hire freaks like you.
Quoting whatfx
thats the way it seems to me.

iam out of my long position. cant hold it any longer. the losing pips started to pile up, had to close it. my philosophy: cut losses short asap if they start piling up quickly. besides ,today the entire market is crashing. not good to buy at all.

i will make the lost pips back. i promise.


i wanna know where are those guys that slated me when i had predicted a few days ago that gold is due to go down pretty soon. i.e. a turn around to the downside is imminent. got some bad comments from many on here saying...
Trends I Love Finding
  • #10,667
  • Sep 22, 2011 7:44am Sep 22, 2011 7:44am
And there's the break... Lucky I only scalped last night I would be in some pain this morning...


I see she hit 1750 and has pierced the support with the current H4 candle.

Deeming the current bearish run incomplete.

My support from last night is now flipped at 1765.

There is a trade perhaps at the bottom of the channel bearish channel where we are now. Long to try and test at least 1770 / 65 yet need to check the news.

Yet perhaps if your short, a hold until 1700 would be reasonable.

Best idea to wait until US stox open at 9:30 am.

Also, a dip in price should be considered healthy to allow more money to enter at a better digit per ozt later on renewed buying.

Simple chart attached.
Attached Image (click to enlarge)
Click to Enlarge Name: xau usd sept 22.GIF Size: 26 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,668
  • Sep 22, 2011 7:48am Sep 22, 2011 7:48am
Quoting Tilf
........ I guess you should try for cnbc ...they hire freaks like you.
  • #10,669
  • Sep 22, 2011 7:49am Sep 22, 2011 7:49am
stupid gold scalp few hours ago was stopped out.
short from 1745.75.

will look to take profit around x's target.

purple line support.

This is all because of operation twist since yestreday. Does anybody have a clue how long this would last?
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 24 KB
Have I got something on my face, SOLDIER?
  • #10,670
  • Sep 22, 2011 7:50am Sep 22, 2011 7:50am
Quoting whatfx
thats the way it seems to me.

iam out of my long position. cant hold it any longer. the losing pips started to pile up, had to close it. my philosophy: cut losses short asap if they start piling up quickly. besides ,today the entire market is crashing. not good to buy at all.

i will make the lost pips back. i promise.


i wanna know where are those guys that slated me when i had predicted a few days ago that gold is due to go down pretty soon. i.e. a turn around to the downside is imminent. got some bad comments from many on here saying gold...
I don't believe I said anything to you about your sentiment or ability to read charts. I did point out that your comments like the ones below are what what the thread seniors have stated will no longer be tolerated:

Quote
where are you guys now ?? you should be eating your own words, and be ashamed of the way you ridiculed me. i see you are all now taking short positions that i had predicted and jumping on my bandwagon

I'm not going to get into anyone's internet dramas, they serve absolutely no purpose whatsoever.
Anything can happen.
  • #10,671
  • Sep 22, 2011 7:51am Sep 22, 2011 7:51am
Fundamentally all currencies are weak.

There was some mention of Brits - chirp up if you are one Ahem,

Debasing pounds due to people on "holiday" spending too much for foreign currency.

The euro is in the news everyday. so I don't need to go there.

USD - well. The US is up shit's creek without a paddle The bottom line is Gold is still bullish.

AUD / NZD = risk off these currencies fall. Also they are driven by exports and the AuD is tied to China as the rest of the world seems to be now...

Quoting Tilf
Seems like gold is closing on to the long term bottom. There's no blood yet, a move below 1720 or 1700 would take the seat out for many. Fundamentally, there are very little reasons to buy any currency (even $) right now. Money has to go somewhere or else we could be into deflation.

Nevermind, I'm going to stock Gold heavy tonight and tomorrow.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,672
  • Sep 22, 2011 7:52am Sep 22, 2011 7:52am
i sold all my physical at 1766
i have been buying for months

i plan to rebuy at around 1650
will see how it goes these days

in the mean time i have a short sell position opened at 1755 SL just moved to 1742 but not a lot of money anyway
  • #10,673
  • Sep 22, 2011 7:56am Sep 22, 2011 7:56am
Perhaps they were looking for a valid fundamental or technical reason provided from you?

Gold is still in a bull run. Many here may stay in positions longer than a day thus, it is necessary to observe the higher time frames.

A 200 USD move down from a high around 1930xx is still just a correction. Which has taken 3 weeks to fall. The pair can now move 50 / 60 USD in a days trade.

Quoting whatfx
thats the way it seems to me.

iam out of my long position. cant hold it any longer. the losing pips started to pile up, had to close it. my philosophy: cut losses short asap if they start piling up quickly. besides ,today the entire market is crashing. not good to buy at all.

i will make the lost pips back. i promise.


i wanna know where are those guys that slated me when i had predicted a few days ago that gold is due to go down pretty soon. i.e. a turn around to the downside is imminent. got some bad comments from many on here saying...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,674
  • Sep 22, 2011 7:59am Sep 22, 2011 7:59am
Quoting XTrade
There was some mention of Brits - chirp up if you are one Ahem,

Debasing pounds due to people on "holiday" spending too much for foreign currency.
*wave
Anything can happen.
  • #10,675
  • Sep 22, 2011 8:03am Sep 22, 2011 8:03am
I am from India and my currency is moving low fairly quick now. Central Bank had tried to intervene a lot of times because India imports crude oil and a weaker currency is devastating for us.

1 ltr costs us about 75 Rs which is about $1.5. IF that keeps going higher then inflation is going to rocket higher. Due to the declining rupee Gold has not been affected much. It is down about half a percentage only and that is why I keep stocking it. Inflation ranges from 10-11% here which is killing in real terms.

Further, all the festivals are going to line up here soon so we'l see then how Gold reacts. It is the speculative market that is moving out of Gold right now and not the physical market. Probably equilibrium would be around 1680-1700 in the short term (based on physical buying).

Quoting XTrade
Fundamentally all currencies are weak.

There was some mention of Brits - chirp up if you are one Ahem,

Debasing pounds due to people on "holiday" spending too much for foreign currency.

The euro is in the news everyday. so I don't need to go there.

USD - well. The US is up shit's creek without a paddle The bottom line is Gold is still bullish.

AUD / NZD = risk off these currencies fall. Also they are driven by exports and the AuD is tied to China as the rest of the world seems to be now...
Trends I Love Finding
  • #10,676
  • Sep 22, 2011 8:05am Sep 22, 2011 8:05am
Guy can i ASk you what was your trading capital on gold?
Mine was 12 000$. And I think its good for start.What about you guys?
  • #10,677
  • Sep 22, 2011 8:07am Sep 22, 2011 8:07am
Furthermore, I am not suggesting anyone enter the market short. At this point when they do unless scalping for mere 10 USD moves the market will likely turn and take them out.

The smarter thing until the trend changes is to wait for a better entry.

The underlying trend and fundamentals remain bullish.

On the daily a symmetrical triangle is setting up again with possible explosive points around 1700

This correction has rather just created a lot of noise on the chart.

Here is the daily with some underlying Trendlines and areas of interest.

On the chart we can see some firmer resistance building at the Highs ap 1925 areas.

Next up weekly
Attached Image (click to enlarge)
Click to Enlarge Name: XAU daily.GIF Size: 25 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,678
  • Sep 22, 2011 8:16am Sep 22, 2011 8:16am
Looking at the Weekly,

We can see that the price has merely just come back down to the top it blew out of thru the weekly channel around current price points, give or take 50 bucks so we'll say 1700.

It could become support or it could re - enter the channel.

A re-entry into the channel could suggest a more slow predictable rise

yet there is wiggle room thru to 1500 without.

Personally, I do far better buying Gold than selling. I also trade the trend or at least try to. Not on a 1 minute chart.
Added close up....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAU weekly 22 sept.GIF Size: 32 KB
Click to Enlarge Name: xau weekly close up.GIF Size: 27 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,679
  • Sep 22, 2011 8:20am Sep 22, 2011 8:20am
Hi Guyz. I am of view that this downward move will soon fade away as nothing on the fundamentals has changed plus RSI on daily is close to 40 and on average bears fade away when RSI is between (37-45) for gold .

Lastly Its still very much in a bull run and this may be a great opportunity to buy.
  • #10,680
  • Sep 22, 2011 8:32am Sep 22, 2011 8:32am
All I can do is share my charts and fundamental ideas. The rest people need to decide on their own.

Depending on your short and long term goals is the best way to position yourself in trading gold.

If you saw a top at 1925 make a post and say - Entering short potential double hit of resistance 1925 target 100 usd. Great trade. Against trend yes.

But you would have hit the goal.

On the flipside, don't get greedy or burned, there are plenty of people waiting in line to take your other side of the trade at a better price and set sights for a test of 2000 + which now would be a 300 USD move,

So it's really which way you want to position and trade.

Always read news. Keep in mind there is manipulation and the East ie: China is accumulating massive amounts of physical bullion.

There is a Huge physical market in London traded each day that sets the price fix for the world twice each day.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
96 traders viewing now