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

  • #10,881
  • Sep 23, 2011 2:53pm Sep 23, 2011 2:53pm
No problems. I am not a dictator.
one has nothing to do with the other and you are not badmouthing me so.....

Quoting Tilf
King,

I have attached those vertical lines myself to show the exact candle of entry in accordance to the VIX reversal.

I created a thread for discussion on this:

http://www.forexfactory.com/showthread.php?t=316889

Apologies X if this is not allowed here. Its not commercial though and I do not want to clutter this thread with a topic like this.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,882
  • Sep 23, 2011 2:59pm Sep 23, 2011 2:59pm
I don't usually draw speculative lines, but here's a shot at one idea,

Based on the idea that
A:
If the south move has to complete by testing further supports.
B:
Fundamentally while all currencies seem to be in a hot race to debase,
they are not viable means of a safe haven, or in fact a way to protect purchasing power, the problem is Globally risk is coming off the table thus,
Gold and other PMs have taken some of the brunt as well.

So we would deduce that high unemployment, floundering Governments, debt defaults and perhaps a brief run of the USD north, the correction of that move may lend this....

any thought or critique welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: XAU possible.GIF Size: 35 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,883
  • Sep 23, 2011 3:06pm Sep 23, 2011 3:06pm
Shite... down five bucks.

Some damage inflicted, yet it seems the chart is still intact.

anyone who has thoughts on silver welcome.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,884
  • Sep 23, 2011 3:16pm Sep 23, 2011 3:16pm
Quoting Wheels
Did you read this whole story or draw a headline conclusion?
Did I state a conclusion or inference? I said it was interesting and you might take a look. Take it for what it is worth. "It's on the internet so it must be true" or some say the opposite it must be false - like blanket statements really mean anything though.

Todd Johnson I don't know and whether or not he FOS. These kinds of areas are your concern.

The article, however much that is true, speaks for itself.

Here is another from SA by George Manieire (??) dated Sept 19th:

"Silver prices are once again enjoying a run-up as they did from January through April. During that period they doubled and briefly touched $50 an ounce before settling back down to the low $30s.
As I wrote this piece, silver prices were back above $40 an ounce and that may be giving you the urge to sell. I would advise that you don’t. This recovery is for real, and it has much further to go.
While I have a price target of $50.00 by year's end, I anticipate silver prices will peak at $150 an ounce in 18 months". I'll spare you the rest.

Now this guy is FOS as far as currently is concerned. What will happen in six months or 19 months who the hell knows.

Getting back to the "hidden" billionaire who makes his money selling people on the idea JPM and the rest do. Give us your money and we will hold your Gold and Silver in a safe place. He should advertise on Fox News.

I trust only those who deserved to be trusted.
  • #10,885
  • Sep 23, 2011 3:19pm Sep 23, 2011 3:19pm
As far as the markets I think it is premature to think long.

"Fear" of missing out will get you more times than not.
  • #10,886
  • Sep 23, 2011 3:25pm Sep 23, 2011 3:25pm
[quote=ddinnov;4982391]
Quoting BlindMist

I was referring to always having a stop and not letting your losers run. I've learnt that one the hard way...
Do even exist people, who did learn this NOT the hard way... ? :-D
  • #10,887
  • Sep 23, 2011 3:27pm Sep 23, 2011 3:27pm
Quoting SunTrader
As far as the markets I think it is premature to think long.

"Fear" of missing out will get you more times than not.
yeah i would agree, i will probably wait to see where the dust settles, might dip my toe in if i get a long setup but in no hurry to trade either gold or silver..
  • #10,888
  • Sep 23, 2011 3:27pm Sep 23, 2011 3:27pm
LOL!

Bad day for silver..looks like 2008 all over again. But we know..'history does not repeat itself, but it rhymes'..So may not be as low as 2008. Could be an early bottom or even further down.

Quoting XTrade
No problems. I am not a dictator.
one has nothing to do with the other and you are not badmouthing me so.....
Trends I Love Finding
  • #10,889
  • Sep 23, 2011 3:34pm Sep 23, 2011 3:34pm
7bit, where are you dear fellow Elder, what you spoke on Silver speaks volumes to me...I lean mine ear to what you've also shared. Most appreciative...

20 is a coming...I think and feel the bottom rests there.

Quoting 7bit
This chart is from 2 weeks ago. Frustrated "investors" have put me on ignore in this thread for posting opinions like this. This means that I am right. We have now reached the dotted median line which is also previous support, expect some support and some bouncing here for a few weeks but don't expect this to be the bottom.

I would not open longterm long positions before it has hit $20 again.
Attachment
  • #10,890
  • Edited 3:48pm Sep 23, 2011 3:46pm | Edited 3:48pm
If silver is able to move 5 south on an exodus in a day than both 20/22 for silver

and respectively a bottom area channel test with a flexibility of 50 USD (for the weekly)
1500 for Gold are both possible.

If the charts start to flatten out and rise a bit, be cautious,
if the charts stay dead, and sideways, next week, It would signal to me the correction is not through.
edit : add and if we retake supports on breakouts, look north

I will still maintain a target of 2000 for late 2011 early 2012.

The dip is already being bought, as it is considered a discount by many who buy spot. Keep in mind bulls do like a lower price.

Although I would draw the line at that range depending.


------------------------------------------------

The article on GATA and manipulation was interesting.

Quoting KinG-Solomon
7bit, where are you dear fellow Elder, what you spoke on Silver speaks volumes to me...I lean mine ear to what you've also shared. Most appreciative...

20 is a coming...I think and feel the bottom rests there.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,891
  • Sep 23, 2011 3:47pm Sep 23, 2011 3:47pm
Quoting SunTrader
Did I state a conclusion or inference? I said it was interesting and you might take a look. Take it for what it is worth. "It's on the internet so it must be true" or some say the opposite it must be false - like blanket statements really mean anything though.

Todd Johnson I don't know and whether or not he FOS. These kinds of areas are your concern.

The article, however much that is true, speaks for itself.

Here is another from SA by George Manieire (??) dated Sept 19th:

"Silver prices are once again enjoying a run-up as they...
Time will tell. Marketing himself and selling paper does not make him a crook. Your innuendo about his lack of fame is comical.

He could be FOS like Manieire(?) (as you say), but he has a lot of his money in silver bullion. If this is a bursting bubble, then he loses big.

We'll see either way. His success over the past decade should have earned him something...maybe not blind trust. He has been clear about his bullish position on gold while naysayers like you doubted people like him every step of the way; and now he believes we have a strong decade ahead for silver.

I think we do have some stronger years ahead for a variety of reasons, but it really depends on whether bears with vested interests are willing to let this happen.

X-Trade:

It would have been nice to gamble a b/e stop loss earlier because I agree with analysts who expect a move higher in silver and gold next week. I could post a chart, but I leave that to the experts. I would be shocked by a move down to 20/22, but all is possible.
  • #10,892
  • Sep 23, 2011 3:50pm Sep 23, 2011 3:50pm
at the end i did not buy at 1650
i saw it get to 1630 and still thought that this might go lower
lets see next week what happens
  • #10,893
  • Sep 23, 2011 3:52pm Sep 23, 2011 3:52pm
"METALS OUTLOOK: Possible Rebound For Gold Next Week, But Nervousness Remains"
"
Higher Prices Seen For Gold Next Week – Survey Participants
Friday Septembert 23, 2011 12:22 PM

Gold prices are expected to rise next week, according to participants in Kitco News’ Gold Survey, but the tally was far from unanimous.

In the Kitco News Gold Survey, out of 34 participants, 23 responded this week. Of those 23 participants, "
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,894
  • Edited 4:00pm Sep 23, 2011 3:58pm | Edited 4:00pm
I agree, yet, like to explore all possibilities. Personally, if the chart drops another dollar on silver into the 20's on any close I am buying physical.

Likewise, there are many other's looking to do the same, this dip should give small cap, and investors to enter the market where-as they may have been flushed out.

Today, it seems any longs taken earlier in the week had a run on the stops, which helped accelerate the decline 50 and 2.50 USD for silver I would approximate.

I wouldn't either suggest anyone get too comfortable in holding short, as the chart remains, bullish. I know it is hard to feel that way on a weekend where we have seen the worst day's for both our metals in years, yet, it is so, until it changes.

My longer term target for silver remains at 75 to 100+ per oz in the coming year or so.



Quoting Wheels
X-Trade:

It would have been nice to gamble a b/e stop loss earlier because I agree with analysts who expect a move higher in silver and gold next week. I could post a chart, but I leave that to the experts. I would be shocked by a move down to 20/22, but all is possible.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,895
  • Sep 23, 2011 4:10pm Sep 23, 2011 4:10pm
Here is the current chart before close.

and other markets.
Attached Image (click to enlarge)
Click to Enlarge Name: gold chart.GIF Size: 54 KB
Attached Images
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,896
  • Sep 23, 2011 4:10pm Sep 23, 2011 4:10pm
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 126 KB


now that's what I call a breakout. unfortunately I sold out way too early... that'll teach me to ignore my indicators...!!!! Stairstep indi. rules.
  • #10,897
  • Sep 23, 2011 4:24pm Sep 23, 2011 4:24pm
Quoting Blud4oilPrgm
Attachment

now that's what I call a breakout. unfortunately I sold out way too early... that'll teach me to ignore my indicators...!!!! Stairstep indi. rules.
fuck indicators.Trade what you see
  • #10,898
  • Sep 23, 2011 4:51pm Sep 23, 2011 4:51pm
It sure does B, thats more so how I knew the breakout would occur based on the XAG Daily...which basically read 'breakout imminent'.


Quoting Blud4oilPrgm
Attachment

now that's what I call a breakout. unfortunately I sold out way too early... that'll teach me to ignore my indicators...!!!! Stairstep indi. rules.
  • #10,899
  • Sep 23, 2011 4:52pm Sep 23, 2011 4:52pm
Quoting Blud4oilPrgm
Attachment

now that's what I call a breakout. unfortunately I sold out way too early... that'll teach me to ignore my indicators...!!!! Stairstep indi. rules.
alphatrader good experienced system I use it
ROBOT FOREX
  • #10,900
  • Sep 23, 2011 7:08pm Sep 23, 2011 7:08pm
Quoting Wheels
........... Your innuendo about his lack of fame is comical........ while naysayers like you doubted people like him ........
I took that phrase "Hidden Billionaire" from a Bloomberg story because he just happens to be, not on the Forbes World Billionaires list for Canadians. I didn't check to see if he shows his residency in Zimbabwe though. Just kidding.

Bloomberg did say he has bucks so that is good enough.

But I am a trader - not naysayer or cheerleader.

And as a trader understanding a certain level of scepticism is part of the job but also that I can control what I can control and forget all the rest.
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