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

  • #11,781
  • Oct 7, 2011 3:14am Oct 7, 2011 3:14am
Quoting jaimini
Hi,

I have short position at 1640$ and my equity allow me to stay in game upto 1670. also i think its too late to book the current loss.

I there any chances of gold price fall.

what would be best strategy at this time
You're in the chinese finger trap. Not a good place to be (been there more than once but seem to be learning the lesson slowly and painfully...)

1. See if you can get out at BE

2. Make a decision at which point you're prepared to close it and still have some money in your account

Today is Friday and NFP. There will be all sorts of wierd PA going on
Anything can happen.
  • #11,782
  • Oct 7, 2011 3:26am Oct 7, 2011 3:26am
Quoting Ravissek
Best strategy is buy and hold.Not short and hold.
I dont know why you are still holding it.Close it

wrong advice to a junior

  • #11,783
  • Oct 7, 2011 3:28am Oct 7, 2011 3:28am
well folks, aint see much happening today..

not been trading gold actively for two days..made some good money on two stocks i was trading.

my last gold position was a short closed out at - 7 pips loss.


see how things go today. will be out most of the day though..
  • #11,784
  • Oct 7, 2011 3:31am Oct 7, 2011 3:31am
Quoting ddinnov
You're in the chinese finger trap. Not a good place to be (been there more than once but seem to be learning the lesson slowly and painfully...)

1. See if you can get out at BE

2. Make a decision at which point you're prepared to close it and still have some money in your account

Today is Friday and NFP. There will be all sorts of wierd PA going on

what if add some more funds and allow my account to survive upto 1690 or 1710
is there any hope that price will reach 1640 again?
or now its headed towards 1720.

I read somewhere that next resistant is at 1680 and if that breaks it will move to 1720.

Thanks for the help
  • #11,785
  • Oct 7, 2011 4:10am Oct 7, 2011 4:10am
Quoting whatfx
wrong advice to a junior

  • #11,786
  • Oct 7, 2011 4:17am Oct 7, 2011 4:17am
Quoting jaimini
what if add some more funds and allow my account to survive upto 1690 or 1710
is there any hope that price will reach 1640 again?
or now its headed towards 1720.

I read somewhere that next resistant is at 1680 and if that breaks it will move to 1720.

Thanks for the help
yes there is good chances that price today reach 1640xx

just my two cent
  • #11,787
  • Oct 7, 2011 4:36am Oct 7, 2011 4:36am
Price is at 1650
should i book loss or wait for 1940
  • #11,788
  • Oct 7, 2011 4:49am Oct 7, 2011 4:49am
Quoting whatfx
wrong advice to a junior

Gold is long term bullish.Why junior shorting? Easiest way to loose money
  • #11,789
  • Oct 7, 2011 5:11am Oct 7, 2011 5:11am
Quoting Doncex
I smell bears fellas
gold target reached

I hope bears will come back soon
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold smell bears.gif Size: 21 KB
Click to Enlarge Name: gold target reached.gif Size: 22 KB
  • #11,790
  • Oct 7, 2011 5:15am Oct 7, 2011 5:15am
if todays data is bad (US unemployment) im long
if good, im short
  • #11,791
  • Oct 7, 2011 5:17am Oct 7, 2011 5:17am
Price move from 1666 down to 1645 just pierced 50% fib (from 1631 to 1666). Fib projection level targets 1679. Maybe breakout level?
Attached Image (click to enlarge)
Click to Enlarge Name: nexttarget.jpg Size: 129 KB
  • #11,792
  • Oct 7, 2011 6:24am Oct 7, 2011 6:24am
up or down.where she wanted to go ?
  • #11,793
  • Oct 7, 2011 6:34am Oct 7, 2011 6:34am
Bemac we indeed are stuck in a Traffic jam at almost exactly the same place you told us, pretty narrow road at this spot, what do you see now?
  • #11,794
  • Oct 7, 2011 6:49am Oct 7, 2011 6:49am
I don't think much will happen until NFP (about 40 minutes).

Then I don't think any technical analysis will count for much
Anything can happen.
  • #11,795
  • Oct 7, 2011 6:59am Oct 7, 2011 6:59am
these past 2 weeks fundamentals are not playing a big part, it is mostly fear what is driving the markets
  • #11,796
  • Oct 7, 2011 7:00am Oct 7, 2011 7:00am
Quoting ngr
up or down.where she wanted to go ?
will be up and down, is not recommended for trading
  • #11,797
  • Oct 7, 2011 7:06am Oct 7, 2011 7:06am
Quoting Doncex
will be up and down, is not recommended for trading
good joke
  • #11,798
  • Oct 7, 2011 7:14am Oct 7, 2011 7:14am
I'm still holding my short position at 1640
should I exit now?
how much impact of coming news NFP is expected in Up side of gold.

I have buy stop at 1960 to ensure my account won't sweep in case of upside bullish run.
  • #11,799
  • Oct 7, 2011 7:21am Oct 7, 2011 7:21am
7bit, what you think??? going up?
still looks strong
  • #11,800
  • Oct 7, 2011 7:28am Oct 7, 2011 7:28am
Quoting fawaol
7bit, what you think??? going up?
still looks strong
I hope bears will fly
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