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

  • #12,101
  • Oct 16, 2011 5:28am Oct 16, 2011 5:28am
Quoting patguchi
this is the reason i havent been trading lately. price increase on declining volume creating what looks like a bearish flag.
That is a possibility, 38 retrace was or is hard to break,
but atm i think bulls are currently in control, i try to catch the 1720 zone,
and see what happens there.
Attached Image (click to enlarge)
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Old Habits Die Hard.
  • #12,102
  • Oct 16, 2011 2:22pm Oct 16, 2011 2:22pm
So, Where's Silver going this week? I bought some last Thursday and am just excited to see which direction it will go.

With my luck, down for a bit. lol
  • #12,103
  • Oct 16, 2011 2:58pm Oct 16, 2011 2:58pm
Quoting lilpip
I new this was going to be a difficult week to anticipate.
Gold hit the anticipated 1691 area and rotatated back hanging around monthly pivot 1674 and waited for sis to reach her monthly pivot area 33.28.
So whats the 2 of you going to do ?
Look for direction coming out of golds weekly pivot 1664 along with eye on 1674 response to the north.
sis weekly pivot is 32.62 and response to the north of 33.28.
Again being that we are dealing with higher timeframe rotation (yearly and quarterly) its harder to anticipate direction.
This week the past tue, wed, and thurs bouncing off of the top (1650) of a 4th quarter channel im looking at along with a weekly close above 1674.
Also, fri direction came up from daily trendguide 1662 , weekly guide 1668 and closed above monthly pivot 1674.
bias is north from 1634-40 area for this week.
from my angle a break from 1696-1714 area and were off to the races looking at more top side as others have pointed out.
monthly
1895
1674
1452
weekly
1714
1634
1554
monday daily
1696
1668
1640
  • #12,104
  • Oct 16, 2011 8:37pm Oct 16, 2011 8:37pm
I have read all the reasons gold should be dropping in price & have concluded... Selfiish Pr!ccs want to Buy More Lower.
Attached Image (click to enlarge)
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I think I will continue to pick my Buys.



B
  • #12,105
  • Oct 16, 2011 10:15pm Oct 16, 2011 10:15pm
Alright - 1683 has to GO!

This looks like it could be the break coming up.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #12,106
  • Oct 16, 2011 10:41pm Oct 16, 2011 10:41pm
Quoting XTrade
Alright - 1683 has to GO!

This looks like it could be the break coming up.
68-72 is a good area to BUY, if we get there soon, without 1684 breaking.
  • #12,107
  • Oct 17, 2011 12:39am Oct 17, 2011 12:39am
There is something going on here that I don't quite have a handle on.
That concernes me.

Why is an Old Gap, that has already been filled, holding Court?

Attached Image (click to enlarge)
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Stay Wise

B
  • #12,108
  • Oct 17, 2011 12:56am Oct 17, 2011 12:56am
Quoting patguchi
increase on declining volume creating what looks like a bearish flag.
yes, it did cross my mind ..... but it seemed to hit a strong restistance ..forming an ascending triangle ... meaning : bullish bias ? ... accumulation going on ?... perhaps VSA exponents could interpret it better ... any takers .. ?
  • #12,109
  • Oct 17, 2011 1:00am Oct 17, 2011 1:00am
Quoting Bemac
I have read all the reasons gold should be dropping in price & have concluded... Selfiish Pr!ccs want to Buy More Lower.
B
" What'chu talkin' 'bout, Willis? "

what reasons .. care to share them .. Your Highness ?
Attached Image
  • #12,110
  • Oct 17, 2011 2:30am Oct 17, 2011 2:30am
please go for next buy only once it breaks this resistance
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  • #12,111
  • Oct 17, 2011 2:33am Oct 17, 2011 2:33am
Quoting ruffryders
Ok, posted that @ my thread, but feel like sharing this here as well.

http://img28.imageshack.us/img28/761...d115102011.png

On GOLD it's important not to loose sight of the BIG PICTURE. This is a daily CHART OF GOLD

[b]1) We are well supported by the TL now
2) Price contained within the CONTAINER
3) Once container breaks out - strong reaction expected
4) Current PA configuration points @ further upside
5) QP is 1675 MP is 1692 QR1 is 1870 MR1 is 1851.
6) Once BOX breaks and MP...
box is about to break, once MP is cleared @ 1692 expect a STRONG move UP
  • #12,112
  • Oct 17, 2011 4:48am Oct 17, 2011 4:48am
I'm quite wary of a possible impending massive risk off shift if this EU thing turns out to be full of hot air..
Anything can happen.
  • #12,113
  • Oct 17, 2011 5:51am Oct 17, 2011 5:51am
This morning, Gold fell after hitting $1696 US. Some is likely because the USD rose last weekend and gold is proportionally more expensive for anyone not on the USD. Other reasons why I suspect it fell has to do with a gold bubble that the gold mining equities have not been keeping up with. One reason why I know it fell is because according to Bloomberg, Hong Kong started trading gold in Yaun at the equivalent of $1683 US.

The question I have relates to how far gold will drop if China is not out to destabilize the USD in retaliation for the US government passing legislation that affects the Yaun?

Here is the Graph I use
http://www.forexpros.com/commodities/gold-advanced-chart

Thank you
  • #12,114
  • Oct 17, 2011 6:37am Oct 17, 2011 6:37am
I'm feeling more bearish now, Asia sold the EUR down a bit and that was before Germany came out this morning saying that this weekend would not be a difinitive solution to the debt crisis. I wonder what NY will do, I feel some risk off/correction/pullback to last week's bull run might be on the cards.

How this will affect gold I'm not sure. Wouldn't suprise me at all to see stocks/EUR/AUD etc take a hit and gold to flap along in a $5-8 range.

But I am likely to be completely wrong - wouldn't be the first time. I'm flat on gold/silver for now until the range breaks, but looking to short EUR at NY open - or buy it if it breaks the other way and carries on up..
Anything can happen.
  • #12,115
  • Oct 17, 2011 6:42am Oct 17, 2011 6:42am
The most powerful gold mover is going to speak on Wed. Take your positions then.
  • #12,116
  • Oct 17, 2011 7:00am Oct 17, 2011 7:00am
$1683 =
stub·born/ˈstəbərn/

Adjective:

  1. Having or showing dogged determination not to change one's attitude or position on something, esp. in spite of good arguments or reasons...
  2. Difficult to move, remove, or cure.


Synonyms:obstinate - pertinacious - dogged - headstrong - obdurate


Oh and one more = ANNOYING

  • #12,117
  • Oct 17, 2011 7:06am Oct 17, 2011 7:06am
I love it Goldman, thanks for relieving some frustrations!!
  • #12,118
  • Oct 17, 2011 7:22am Oct 17, 2011 7:22am
Quoting ruffryders
box is about to break, once MP is cleared @ 1692 expect a STRONG move UP
sir ruffryders
This is what i wanted to reply in your thread.

Quote
I'm not blaming you for my losses
after all its my decision to take trade or not and it me who is responsible for loss
I was getting a feel that PA will come back but since you are more experienced then me so I followed your path but i didn't know your strategy of 5$ SL in gold so that's the reason my order left open and its still open

it could be possible that 17K is not a big money for you but i lost 50% of my equity today so that's the reason for my panic.

anyways loss are part of this business and I'm sorry if you feel i'm blaming...

but you recalled the rights
anyhow its your thread and you have all the rights
happy trading
  • #12,119
  • Oct 17, 2011 7:40am Oct 17, 2011 7:40am
Quoting ventin75
The most powerful gold mover is going to speak on Wed. Take your positions then.
Who do you think is the most powerful gold mover?

Both Newmont and Barrick release their earnings data next week.
  • #12,120
  • Oct 17, 2011 7:53am Oct 17, 2011 7:53am
Hi Jaimini, if you have lost 50% of your equity on a smallish move like this then maybe your lot size or leverage was too large. If you place smaller trades or reduce your leverage then you can have a stop wider than $5 - sometimes you need your SL to be further away than $5 to get it under a trendline or support, particularly if you can't watch it constantly. Better to make lots of smaller profits (and losses if it goes the other way) than blow it all trying to make huge profits all at once.

And believe me I understand your panic, been there done that (too many times) - take a breath, analyse the trade(s) that went wrong and make sure you don't do the same thing again. Just don't give up!!

cheers Cath
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