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

Lilpip, Sreym33, Thanks for your valuable thoughts my friends, the market remained undecided just like you guys said, no clear direction.

What are your thoughts about Monday, Positive or Negative ?

it is on a range today 1720-1735
we are on the bottom?

Do any of you trade diamonds?

haha erm....how do you trade diamonds? offline?

hello sreym 33!
what you think about Gold next days?Gold is on 1715-1735.Go long or short on Monday?

hi there, read post 13441, hasn't changed for me.
Looks very similar to the drop and recovery (so far) on Aug 12 before the 1st big run.
have a great weekend.

gn8

e

Anything and everything is possible but what truth? and what table?

My broker, TradingPoint has charts for gold from 01.01.1992.

Cool: Annon...
For those of us that don't completely understand your Method, would you care to explaine? Or do you intend to continue with your selected succesfulls.
Sorry for the sword but you are either in or not.
I have Always adhered to "Open Source" & have suggested that my son continue. I would much rather gain reward from sharing my method than selling it.

BMc / JMc

fri. retest of thurs. daily lows breakout 1734 held and move down is noted along with a weekly close south side of weekly pivot 1742.
Monday bias is down from same area 1734-43 area.
monday
1774
1735-43
1700

Thanks Lil'P
That I understand.

B
PS.
Oh. & btw. Perhaps you are not aware how often I impart (use) your information. More than you know.

Hello Goldmansacks, nice to see you online what do you think about next week? is it going down or up?

Hi Forexfacts

Good question...
I have been keeping a close eye on the Italian/Spanish/French Bond yields for quite sometime, as I did not believe in the big announcement a few weeks back that said a deal had been reached, and the Eurozone was saved, (the "deal" had more holes in it than a swiss cheese) and so I expected the BS to filter down into the markets and the market to react once again, and for the Euro to go down at such a time, and US dollar up, and gold to (probably) dip... so far all so "good"

So for now it partially depends on what "News" comes out of Europe, all eyes are going to be focused on that.... and if the fear in the market sets in and further sell offs come into play... then I see more downside before we get back up and onto a possible strong year end rally..

Also with the lower lows/highs at the end of last week, and the sell off into Friday, makes me think the sell off could continue into Monday, and on Tuesday 22nd we have Options expiry, and we also have FOMC announcements (probably not saying much again) so these two things also make me think that the sell off could continue into Monday/Tuesday.... plus I note that the COT for Gold has gone a tad bearish (from the commercials)

I expect some possible volatility on Monday and going into Tuesday with sell off/ dips for which I see short term support at the following levels

1710
(1700)
1702
1680 (61.8% fib 1604-180x)
1667-76
(1650)
1613

If it falls below 1700 I see 1680 very likely, and whilst I do see the drop as quite probable, I am not confident enough on this occasion
to go Short from here.

Any terrible news out of Europe could slam the market, cause a rush to cash and US Treasuries, and hit gold , but I believe this would be very short term, but could be quite dramatic... that being said I think that with fundamentals the way they are, the time of year, the recent price action and this recent sell off, I think currently we are compressing a spring... which I think is going to pop sooner rather than later...

If sell off does not continue on Monday /Tuesday I see us ranging up to $1740 - $1750 at which point decision time will set in... if we continue up from there, I see it up to $1790-1800 over the next week or so, where another smaller sell off/rotation back is likely at that psych level... then if we push up successfully from there I would not be surprised to see 1900+ by year end, or early next year.. and you never know we might get a helping hand from the "Them and They's" that move this market.. (that being said I am often more concerned about getting a big slap from "Them")

So there you go, clear as mud....


Trading wise my stops for now are below 1675, I am currently Long from sub 1720.. looking for 1750+ in short term where depending on how we get there I will make a decision to hold or cash out and look for re-entry...


Investment wise I might buy another lump of physical this week.


In short I think it is going up... but not before the weak longs have been shaken off, at which point I think we are on upwards with some volatility for the rest of 2011.

What do you guys think ? Which direction do you think the market is going to take, (next week) and where you see support levels?

ps.. Please do not use what I say in anyway to trade..... always trade with caution...

QM?

http://www.nobrainertrades.com/2009/...r-pattern.html

Thanks...

and so what is your trade?

Goldmansacks,
Very in depth analysis, you have a keen eye on happenings around, very focused indeed.

You asked about what i think about gold next week you shouldn't be asking me as i am an extreme newbie when i read the research work done by guys like you, i can only tell you my gut feeling and that is, gold is going up next week.

That is only my feeling because we don't know whats gonna happen, the movers of market can take straight line up or down as we have seen recently, so Only Almighty knows whats gonna happen in future, but, my feeling is that the next week is eventually going to close higher.

Which can totally be Wrong (lets not forget to warn the readers).

And Thank You very much for taking some time out and sharing your research with us