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

  • #11,201
  • Edited 10:57pm Sep 27, 2011 10:42pm | Edited 10:57pm
Quoting SunTrader
Hmmm.

I've got weekly pivot as 1705

H 1828.45
L 1629.75
C 1657.15
I use the last 3 weekly time frames where your considering 1 .
Myself Im better able to keep track of trends that way.
just like you have a better feel of direction when you look at 3 bars on the 5 min. it just a higher timeframe.
Just like the ole saying "same above as below"
although the daily I look at the past 5 days and to a lesser extent 3 days.
were making money and reaching the pivot area, gotta pay atention.
  • #11,202
  • Sep 27, 2011 10:45pm Sep 27, 2011 10:45pm
On top of that i see Indian Rupees 25,000 / 10 grams as a big psychological support.
At $ 1635 / ounce, it is Indian Rs. 26,000 / 10 grams.

(Please note that i am not an expert, so my words hold no value, these are just my own assumptions)
  • #11,203
  • Sep 27, 2011 10:58pm Sep 27, 2011 10:58pm
Quoting lilpip
I use the last 3 weekly time frames........
Well that is all well and good but how is someone else to know?

Have you seen any feedback that these numbers are being used by others at all? Not sure I understand why you post them other than a record of your own.

I use a ATR(3) to judge how far each trading day has traveled but if I were to post about it would make clear that that is my preferred choice and not the standard ATR(14). Just seems clearer that way.
  • #11,204
  • Edited Sep 28, 2011 12:13am Sep 27, 2011 11:25pm | Edited Sep 28, 2011 12:13am
Quoting SunTrader
Well that is all well and good but how is someone else to know?
Have you seen any feedback that these numbers are being used by others at all? Not sure I understand why you post them other than a record of your own.
How is someone else to know? Ive mentioned it in the past and what difference does it make if you know how the motor of your car works or not as long as it works.
Why I post ? Although I see some post where ones are upside down or having margin calls hopefully there are some who can take what I see from my angle and have it verify what they see, at least thats how I take posts by others.
Also hopefully there are some who understand the meaning of trendguide and that it has proven helpful avoiding going against the trend .
As far as getting feedback, I think Its proved rather well, and been helpful week in and week out as we look at price, support and resistance of any timeframe and any market.
Take for example an overview of this past year, you can give me some feedback on where I said gold and silver were going to find support resistance and support again.
Although successful for some, myself I dont use indicators.
  • #11,205
  • Sep 27, 2011 11:55pm Sep 27, 2011 11:55pm
Quoting forexfacts
Your suggestion is highly appreciated its a small investment around $10k, should i go for Silver alone, no Gold ?
first things first, how many months in a row have you had consistant gains on the demo ?
  • #11,206
  • Sep 28, 2011 12:36am Sep 28, 2011 12:36am
I'd recommend people to use a real account with little money to start.

For me it was no use to use demo as I was constantly aware it was fake money and didn't really pay attention to it
  • #11,207
  • Sep 28, 2011 12:36am Sep 28, 2011 12:36am
I'm currently bearish on Silver. After a solid day of consolidation yesterday, looks like we are in for a resumption of the downtrend. I am also holding onto a bunch of longs between 2985 and 3320 that I will offload in the weeks to come. I'll make some money on the way down first. What a day for profit taking yesterday though!
  • #11,208
  • Sep 28, 2011 12:49am Sep 28, 2011 12:49am
Quoting SunTrader
A correction from 1921 to 1534 equates to a helluva lot more than $140.

But I agree if there is some positive news from Eurozone then Gold probably will go higher. Otherwise a new lower low should be around the corner - i.e. next couple of days.
You looked at the wrong swing I meant from 1534 to 1676 (that's a little bit more than 140 USD
  • #11,209
  • Sep 28, 2011 2:23am Sep 28, 2011 2:23am
I looked up XAU on urbandictionary.com. Got an... interesting result. But seriously, I'm going back to lurking. Just had to get that off my chest.
  • #11,210
  • Sep 28, 2011 3:33am Sep 28, 2011 3:33am
well, gold seems to have gone on a range . i hate it when this happens........Grrrrrrr !

still planning to go short at 1630. price never reached it last night.

my long position at 1663 is still open.....if market rises, all good, if not will close at b.e.
  • #11,211
  • Sep 28, 2011 3:56am Sep 28, 2011 3:56am
Quoting lilpip
first things first, how many months in a row have you had consistant gains on the demo ?
I have no experience on demos
  • #11,212
  • Sep 28, 2011 4:01am Sep 28, 2011 4:01am
Quoting forexfacts
I have no experience on demos
on the demo you will double your money in 3 days, and on RL you will wipe your account

again, i strongly advice an account with little money first
  • #11,213
  • Sep 28, 2011 4:40am Sep 28, 2011 4:40am
Quoting TradingB
on the demo you will double your money in 3 days, and on RL you will wipe your account

again, i strongly advice an account with little money first
Thank you for your advise, i do not intend to trade on daily basis, that is why i do not feel the need to use demos, i want to buy and hold and then sell it when Indian season touches its peak, i see strong support for gold in the coming days, should i wait for $1600 or should i go with $1650 ?
  • #11,214
  • Sep 28, 2011 5:31am Sep 28, 2011 5:31am
1.5 hours left in NY opening, lets see their mood, do not forget they dropped it to 1540 just 2 days back
  • #11,215
  • Sep 28, 2011 5:36am Sep 28, 2011 5:36am
Quoting forexfacts
should i wait for $1600 or should i go with $1650 ?
i got in at 1650 , took profit at 1672
i got back in today again at 1650 same TP
  • #11,216
  • Sep 28, 2011 5:47am Sep 28, 2011 5:47am
Quoting TradingB
i got in at 1650 , took profit at 1672
i got back in today again at 1650 same TP
Thats nice, but i can't do that, my judgement in short periods is poor, learned it in the stocks
  • #11,217
  • Sep 28, 2011 5:49am Sep 28, 2011 5:49am
Quoting forexfacts
1.5 hours left in NY opening, lets see their mood, do not forget they dropped it to 1540 just 2 days back
wall street opens in 2.5+ hours
  • #11,218
  • Sep 28, 2011 5:50am Sep 28, 2011 5:50am
painstakingly slow today. need to call it a day....
  • #11,219
  • Sep 28, 2011 6:29am Sep 28, 2011 6:29am
Rly dont know why you guys shorting gold when its in bullish trend.And gold is every day every week and every month bullish.When it comes down why you shorting? Just get the best chance for buy low!
  • #11,220
  • Sep 28, 2011 6:34am Sep 28, 2011 6:34am
Quoting lilpip
How is someone else to know? Ive mentioned it in the past and what difference does it make if you know how the motor of your car works or not as long as it works...............
Well then keep it up if that is what you believe.

I like to know what I am using not just whether it works or not.

Teach a man to fish .....
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