How do you know?
What if it continues to drop for the next 30 years? Do you have a Plan B for this event? At what price will you stop buying and start selling?
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #10,922
- Sep 24, 2011 2:14pm Sep 24, 2011 2:14pm
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
7bit what are your views if you dont mind me asking?
Don't wish it were easier, wish you were better. ~ Jim Rohn
I dont try to make money on downmoves.Only buying more when price go more.I buying 1850,1800,1750,1700,1650.Only about capital.
I am too scared to open short
Im also using this method. Its the best method I know.
- #10,925
- Sep 24, 2011 3:02pm Sep 24, 2011 3:02pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
why I keep looking for long in such a down trend..
http://media.tumblr.com/tumblr_lmor1xMinf1qafrh6.gif
Sonic
Be very carefull though.
1,518 may still be in the deck.
A climb above 1,706 would put me back in the Bull camp.
B
- #10,926
- Sep 24, 2011 3:24pm Sep 24, 2011 3:24pm
That is not investing either, it is hoping and
- #10,927
- Sep 24, 2011 7:58pm Sep 24, 2011 7:58pm
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
- #10,928
- Edited Sep 25, 2011 12:38am Sep 24, 2011 9:52pm | Edited Sep 25, 2011 12:38am
- | Joined Aug 2007 | Status: Trader | 2,219 Posts
- #10,930
- Sep 24, 2011 10:48pm Sep 24, 2011 10:48pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
Finally.
Gold Hits Bottom. Old Longs breath a sigh of Reliefe & New Longs line up for Fills.
Did I Move the Market?
Did I Move A Trader?
Please, understand what you Read before you comply.
This was a Test. It was Only a Test. If it were a Real FX Move, I would probably have been too busy to post this.
As a Trader... Weekends are boring.
B
Gold Hits Bottom. Old Longs breath a sigh of Reliefe & New Longs line up for Fills.
Did I Move the Market?
Did I Move A Trader?
Please, understand what you Read before you comply.
This was a Test. It was Only a Test. If it were a Real FX Move, I would probably have been too busy to post this.
As a Trader... Weekends are boring.
B
- #10,931
- Edited 1:15am Sep 25, 2011 12:46am | Edited 1:15am
- | Joined Aug 2007 | Status: Trader | 2,219 Posts
- #10,932
- Sep 25, 2011 1:30am Sep 25, 2011 1:30am
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #10,933
- Sep 25, 2011 2:25am Sep 25, 2011 2:25am
- | Commercial User | Joined Jan 2011 | 4,044 Posts
CME Group Raises Comex Gold Margins By 21.5%, Silver Margins By 15.6%
Surely this will result in more downside on gold this week. More positions are gonna get liquidated and prices will go lower yet.
Surely this will result in more downside on gold this week. More positions are gonna get liquidated and prices will go lower yet.
- #10,935
- Sep 25, 2011 4:11am Sep 25, 2011 4:11am
- Joined Mar 2009 | Status: Trader | 1,231 Posts
7bit what are your views if you dont mind me asking?
With not "fundamentally different" I don't refer to the economic underlying "fundamentals" which might or might not suggest an overall (maybe even permanent) up trend, I mean the fundamental laws of "market mechanics", the way how prices generally tend to move, the way they always sooner or later correct to x% of a prior move, the fractal self similarity of price charts on all timeframes, the applicability of technical chart analysis on all timeframes.
This means even if there is a permanent up trend in place that is dictated by underlying economic facts I don't see why the price chart should look different from other up trends, I don't see why there should be no retracements and fallbacks to trend lines and even failure of trend lines on all timeframes. ALL timeframes, even the daily, the weekly, the monthly, the yearly! There is no known mechanism and it has never been observed that any timeframe is excluded from showing the same sorts of retracements like any lower timeframe too.
***
With the above assumptions in mind I have posted the 9 year silver chart which suggests to me that $20 is in immediate reach (and this was one of the more optimistic ways to draw the channel, assuming the up trend is still continuing, I did not yet post the chart that suggests $15)
I also believe that Gold and Silver are correlated to some degree, that Gold will not suddenly explode to the upside and make new highs while silver is still going down. I expect silver to touch the $20 and I don't expect Gold to be a good longterm buy before this event has happened.
And I also believe that there is a strong possibility that Gold will use that opportunity to do a retracement on the monthly and yearly charts and Silver $20 will not hold and fall back to the yearly trend line.
I don't have exact numbers for Gold (at least none that any of you would believe me), Silver seems to be more friendly to analyze with my style of drawing the lines (and Gold bearishness/bullishness should behave the same), in Silver I am seeing support at $20 and and more support at $15 and if none of them hold then I am seeing it below $10
If Silver $20 support does not hold then we might have seen the top in both metals for a long time and many people here will sit on a a lot of expensive PM which they should will to their grandchildren along with detailed instructions how to identify the right time to sell it.
This is basically my view.
.
Hello everybody, i am new at the forum i hope i learn a few basic things about gold and silver from here.
I have a question: Gold and Silver is traded in US Dollars, but as we all know the US is in great debt at the moment which is increasing by the day:
http://en.wikipedia.org/wiki/List_of..._external_debt
My question is, to clear such kind of debt the US may increase its exports and decrease imports but that's not going to happen, if it was possible then they could have done it years ago.
Now the second thing which comes to mind is to print more Dollars and for printing more Dollars they need more Bullion stocks, thus increasing the price of the Bullion.
Recently the US passed a new bill, the US increased its Debt limits to new Highs, as a result Gold and Silver may take a dip to new lows of the year but at the end of the day the bubble of debt has to burst which will take the US $ with it and when that happens the safe haven for investors around the world won't be the US $ anymore, not the Euro or UK pound as they all face the same problem, in my opinion: safe haven in the future would be bullion.
Please note that i am not an Economist, neither am i a Trader, so i need corrections
I have a question: Gold and Silver is traded in US Dollars, but as we all know the US is in great debt at the moment which is increasing by the day:
http://en.wikipedia.org/wiki/List_of..._external_debt
My question is, to clear such kind of debt the US may increase its exports and decrease imports but that's not going to happen, if it was possible then they could have done it years ago.
Now the second thing which comes to mind is to print more Dollars and for printing more Dollars they need more Bullion stocks, thus increasing the price of the Bullion.
Recently the US passed a new bill, the US increased its Debt limits to new Highs, as a result Gold and Silver may take a dip to new lows of the year but at the end of the day the bubble of debt has to burst which will take the US $ with it and when that happens the safe haven for investors around the world won't be the US $ anymore, not the Euro or UK pound as they all face the same problem, in my opinion: safe haven in the future would be bullion.
Please note that i am not an Economist, neither am i a Trader, so i need corrections
- #10,940
- Sep 25, 2011 10:20am Sep 25, 2011 10:20am
- Joined Mar 2009 | Status: Trader | 1,231 Posts