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

Quoting 7bit
This chart is from 2 weeks ago. Frustrated "investors" have put me on ignore in this thread for posting opinions like this.
Attachment
Man who cares about frustrated investors (aka school kids and old farts).

I like your chart. You do have a nice explanation going for the 20 dollar mark on silver. I think it's a little bit extreme, but still "non-mainstream", which is great! So keep posting and never mind the haters.
what the hell silver market!! i can get heart attack like this..
As I stated before and others as well Gold has had selling related to funds raising cash against other losing positions. That was probably the impetus to liquidating positions a week or two ago.

Now I believe that initial selling beget more selling, feeding on itself. So the selling now is just because the selling is breaking support triggering stop losses, weak longs from up above bailing out, etc etc.

So safe haven for recent longs ain't so safe regardless of world events. Market needs to find it's equilibruim before uptrend can continue.
[quote=ngr;4981975]
Quoting Doncex
NOt so fast down
gold up,up,up,waiting rally up today



Now what your chat says Doncex
I was saying possible long setup,but wave was not for long,so long was not open
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold possible long.gif Size: 23 KB
Click to Enlarge Name: gold,there was no long trade,no bull long wavee.gif Size: 20 KB
[quote=Doncex;4982083]
Quoting ngr

I was saying possible long setup,but wave was not for long,so long was not open
somebody can tell me what is the possible lowest price before gold hits 2000?

i have -50% my margin off before it's calling...
[quote=yudhigold;4982109]
Quoting Doncex

somebody can tell me what is the possible lowest price before gold hits 2000?

i have -50% my margin off before it's calling...
Sometime you better close a losing trade instead of losing all you acc balance! I dont have the answer to your question...and probably nobody has.
Who is selling Gold ?
http://www.forexlive.com/blog/2011/0...g-coming-from/
It seems somebody having cash problems.
There's no doubt any bullish scenario for this monent has been denied and price is heading towards next "bus stop" at 1650.
Price easily broke 1700, then found few buyers at 1680 and moved down further more.
However it' was easy to see first signs of consolidation, every step down it's more and more hesitation and tension involved.
Finally the price finds it support where bears will give up, but I think it won't happen today as traders don't like to open position late Friday and keep it over weekend.

----
Read Charts - Not Papers
Quoting halkins
There's no doubt any bullish scenario for this monent has been denied and price is heading towards next "bus stop" at 1650.
Price easily broke 1700, then found few buyers at 1680 and moved down further more.
However it' was easy to see first signs of consolidation, every step down it's more and more hesitation and tension involved.
Finally the price finds it support where bears will give up, but I think it won't happen today as traders don't like to open position late Friday and keep it over weekend.

----

I guess...we may have rebound as it is on support level now and short term holder wanna take profit from silver shorts..

Sonic
  • #10,830
  • Quote
  • Edited 11:01am Sep 23, 2011 11:00am | Edited 11:01am
[quote=yudhigold;4982109]
Quoting Doncex

somebody can tell me what is the possible lowest price before gold hits 2000?

i have -50% my margin off before it's calling...
Like BT says , no one knows for sure what it will do, but at the moment you have a choice, save whats left, or risk it all to see if it will turn around the choice is yours, you may make the right choice or the wrong one. be prepared to live with whatever you do.

Just make sure you never do this again, people have posted up all sorts of bs in the past- "i don't need stops for gold" or "just buy and come back in a few weeks a cash in"

its only a matter of time before this happens, only a matter of time..

h2
[quote=yudhigold;4982109]
Quoting Doncex

somebody can tell me what is the possible lowest price before gold hits 2000?

i have -50% my margin off before it's calling...
Now there goes a fight between bears and bulls.
This silver/gold drop doesn't make much sense. The last time the market was risk-averse, both gold and silver rallied up. This time it's kinda upsetting to see silver plummet 10% (i've been holding it long for a month now).

Silver might test a $26 level before reversing (50% pullback of the 2008-2011 rally). IMHO.
Quoting halkins
" as traders don't like to open position late Friday and keep it over weekend. "

----
...I sure as heck am not going to bed with any positions open, even if I have to stay up all night to watch them!
Well I know 1 thing for sure when they blow 90 % of small traders create panic and when there is only one direction market seems to move (DOWN HERE) its time to buy. when everyone thinks its going to fall more it will rebound and vice versa

AND about safe heaven well gold is not a safe heaven its just a very long & strong bull run

In my opinion its the best time to buy but unfortunately i cant right now .

BIG SUPPORT AREAS START HERE

HUGE SUPPORT 1660

NEXT BIG SUPPORT 1647 (ITS ALSO THE 61.8 fib area)

BIGGEST SUPPORT 1630

THEN

1605
1580
1550
[quote=ngr;4982273]
Quoting yudhigold

Now there goes a fight between bears and bulls.
Yeah... just have a look on EURUSD, AUDUSD etc...
Almost every pair is pulling breaks on, they all loosing momentum, slowing down. On smaller time frames we can see first higher lows, higher highs...
Why should gold keep on its rally???
But, as I said London is closed in an hour, it's Friday and think we won't see any solution today.

---
Read Charts - Not Papers
[quote=yudhigold;4982109]
Quoting Doncex

somebody can tell me what is the possible lowest price before gold hits 2000?

i have -50% my margin off before it's calling...

iam on my mobile app. , fellas.


yudhigold,
you are new to trading it seems . one important lesson you must always adhere by is ... you must never hang on to a losing position. end your losing position as soon as your are able, by way of stop being hit or closing it manually. you must never let a losing position run on. golden rule, remember that.....

remember there will always be an otheropportunity for a profitable trade. cut your losses short.

like i did earlier, i closed my long entered at 1742 for - 7 pips loss. and then went short. i didnt wait and take chances. made pips on the short side.

imagine if i had kept that long position still open, i would be in deep trouble now. although i did set a stop of 30 pips, that would have been 30 pips lost. i went short and made pips on that side.


in your situation, there is no doubt gold will go up next week, or should go up. possibly as early as monday. that would be a chance for you to enter a buy again. so do not panic. there will always be plenty of oppurtunities ahead.

have faith. you must decide on whether you want to close your long now. thats your call. i dont think anyone can say at the moment if gold will keep on going down or rise up.


i actually entered a short again at 1690 while i was out (1700 support breachhed), from my mobile app.

its now at + 10 pips. i think i better just grab the 10 pips and call it a day. will be closing my position in 5 minutes or so.


so the total tally for today would be + 23 pips.

recovered what i had lost yesterday !!!!!!!! phew !!!!!
Quoting CathS
...I sure as heck am not going to bed with any positions open, even if I have to stay up all night to watch them!
ha ha... yeah, I know that feeling.
Now I learnt some hedging techiniques and I'm much happier
at least I can sleep well
Read Charts - Not Papers
just a friendly message to everyone:


WARNING: GLOBAL RECESSION FEARS


BE CAREFUL WHEN GOING LONG ON ANY INSTRUMENTS, WHETHER IT BE CURRENCIES, SILVER, GOLD, FTSE ETC. trade with caution and tight stops.

good luck to all. these are dangerous times.
[quote=whatfx;4982325]
Quoting yudhigold


iam on my mobile app. , fellas.


yudhigold,
you are new to trading it seems . one important lesson you must always adhere by is ... you must never hang on to a losing position. end your losing position as soon as your are able, by way of stop being hit or closing it manually. you must never let a losing position run on. golden rule, remember that.....

remember there will always be an otheropportunity for a profitable trade. cut your losses short.

like i did earlier, i closed my long entered at 1742 for - 7...
Well done mate and good advice
Anything can happen.
[quote=yudhigold;4982109]
Quoting Doncex

somebody can tell me what is the possible lowest price before gold hits 2000?

i have -50% my margin off before it's calling...
since QE 3 was not announced, my charts told me 1650

dont take that as set in stone though, just my charts and how i see it
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