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

  • #11,101
  • Sep 26, 2011 11:35pm Sep 26, 2011 11:35pm
First is the weekly with some notes and I'll try to add a daily. So refresh in a few

read the chart notes also.

Some major support '/ resistances in Yellow and the big flip area in purple. notice how the purple line corresponds perfectly with speculative TL 2 and the horizontal support 39.04 as anchor and boom, the intersection point nails the first stopping candle and the new price area.

It is apparent that the first jump off TL was unsustainable and correction was immenint. Said it before, but did not pay enough attention to it as I should of..... Guilty.............
Attached Image (click to enlarge)
Click to Enlarge Name: silver seekly sept 2011.GIF Size: 41 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #11,102
  • Sep 26, 2011 11:44pm Sep 26, 2011 11:44pm
Quoting lilpip
silver started off by rotating down from last years highs looking for support and found it at 26.43 area and taking that support all the way to $50. I have to believe this is a place to start.
Selling by the end of the year ? what for ?
In my mind silver made her move and money for the year and gold just completed hers.
How bout prepareing for next years highs.
Your suggestion is highly appreciated its a small investment around $10k, should i go for Silver alone, no Gold ?
  • #11,103
  • Sep 26, 2011 11:49pm Sep 26, 2011 11:49pm
Some rules of buying physical.

A. Take half of what you were going to get in with and start with that then wait. If it goes up you know you are on the right track and there is other demand. So buy with the rest. So what your average cost per dollar per ozt goes up a bit.

If it goes down, you were a bit early and get to buy more at a discount bringing your average down.

B. Never put all your eggs in one basket. Buy both Gold and silver. I might even consider adding a small amount of PT at this discount.

Quoting forexfacts
Your suggestion is highly appreciated its a small investment around $10k, should i go for Silver alone, no Gold ?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #11,104
  • Sep 27, 2011 12:14am Sep 27, 2011 12:14am
Quoting XTrade
Some rules of buying physical.

A. Take half of what you were going to get in with and start with that then wait. If it goes up you know you are on the right track and there is other demand. So buy with the rest. So what your average cost per dollar per ozt goes up a bit.

If it goes down, you were a bit early and get to buy more at a discount bringing your average down.

B. Never put all your eggs in one basket. Buy both Gold and silver. I might even consider adding a small amount of PT at this discount.
Thank you for your Valuable input, if we talk of Silver i have again been looking at the historical charts, the prices in 2010 and 2011 behaved just like they did in 1979 and 1980.
But again coming down from $50, Silver has charms at $30 so what to do, i am pretty mixed up, i feel in the long run Silver may go down and at the same time i feel Gold may go up and see breaking $2000 mark in speculative buying, they Tripled Silver, they can do the same to Gold too.

Gold was trading around $1000 and Silver at $17 - $18, they took silver to 50 so they can take Gold to above $2000 and it won't be hard for them

About Platinum, i think it's turn has yet to come, but since everybody is talking about "Safe Haven" only Gold holds true value.
  • #11,105
  • Sep 27, 2011 12:57am Sep 27, 2011 12:57am
Added more on the way up. Target for this position is 36 for now.

This could become the trade of my live if this gets there.
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  • #11,106
  • Sep 27, 2011 12:59am Sep 27, 2011 12:59am
Chart with positions:
Attached Image
  • #11,107
  • Sep 27, 2011 1:01am Sep 27, 2011 1:01am
I'm keeping it simple. Buying silver on every correction. Take profit when it's peaking on the 15m/30m charts.
  • #11,108
  • Sep 27, 2011 1:13am Sep 27, 2011 1:13am
Quoting XTrade
Same areas of interest noted.

Looks like we have found a potential bottom / reversal point.

Gold weekly channel update. with blow up. You can see we did tap the first LTL of the channel then Bounce, right by the 50 week sma..

Let's see if we can keep it up tomorrow.
X do you see resistance problems at the UTL which coincides with previous consolidation and the gap (that doesn't appear on my oanda feed) area?
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Anything can happen.
  • #11,109
  • Sep 27, 2011 3:28am Sep 27, 2011 3:28am
i opened several buy lots with no limit at 1650
SL 1634
  • #11,110
  • Sep 27, 2011 3:40am Sep 27, 2011 3:40am
Just woke up with a 104 degree (f) temperature.

In any case here is the updated Gold spot daily

Looking good so far> Low RSI so candle not considered overbought after the bloodbath.

Potential Three Candle Reversal
http://img61.imageshack.us/img61/3753/chart791zs9.jpg
Attached Image (click to enlarge)
Click to Enlarge Name: Gold daily blowup sept 2011.GIF Size: 39 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #11,111
  • Sep 27, 2011 3:50am Sep 27, 2011 3:50am
Quoting XTrade
Just woke up with a 104 degree (f) temperature.
Uh... 40°C. All the best to you! Regarding anything technical and fundamental, Silver and Gold are almost no brainers AT THE MOMENT.
  • #11,112
  • Sep 27, 2011 3:57am Sep 27, 2011 3:57am
Quoting Xaron
...Silver and Gold are almost no brainers AT THE MOMENT.
im betting on that
  • #11,113
  • Sep 27, 2011 4:00am Sep 27, 2011 4:00am
At least as long the current crisis lasts. No immediate solution in sight but probably more quantitative easing so...
  • #11,114
  • Sep 27, 2011 4:08am Sep 27, 2011 4:08am
I am making so much money on silver it almost feels wrong...
Anything can happen.
  • #11,115
  • Sep 27, 2011 4:13am Sep 27, 2011 4:13am
Quoting whatfx
well my long position at 1624 is still open. had a stop loss set at 1550. never reached it. so still hoping price rises, position goes into profit.

still have the 2 pending buy orders at 1550 and 1500 also.


fingers crossed.


ok folks.


finally the rise i had predicted for the early part of this week is happening.....!

my long position entered at 1624 is sitting comfortably now at a
profit of + 40 pips.

i have moved stop to break even. so risk free trade now.


i have also added another long position at 1663. this trade will be for a quick few pips. but i will monitor and see if i can take more.



how did you guys do on the rise ?
  • #11,116
  • Sep 27, 2011 4:13am Sep 27, 2011 4:13am
I have no idea what happen to gold but it keeps raising..

Haven't buy for today.. Keep waiting till 1500ish.. Waiting for today high impact US and also on thursday MR.Bernanke's talking again..
  • #11,117
  • Sep 27, 2011 4:14am Sep 27, 2011 4:14am
Quoting ddinnov
I am making so much money on silver it almost feels wrong...
...just make sure you hold on to it!!! (I have been known to be euphoric before watching it disappear again just as fast!!) - good work!
  • #11,118
  • Sep 27, 2011 4:20am Sep 27, 2011 4:20am
1700 & 33.3 may be entries to short.
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  • #11,119
  • Sep 27, 2011 4:24am Sep 27, 2011 4:24am
currently riding the silver wave, hope it lasts and the charts are right

for Gold, missed the entry at 1600

I'm thinking entering at 1700 long, target 1750

otherwise possibly 1650 if it falls a bit before wall street opens
  • #11,120
  • Sep 27, 2011 4:32am Sep 27, 2011 4:32am
Quoting ddinnov
I am making so much money on silver it almost feels wrong...
It *is* wrong. Close the trades before its too late.
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