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

  • #13,421
  • Nov 21, 2011 10:14am Nov 21, 2011 10:14am
Looks like a short term short-cover rally.

EU and stocks doing the same. I expect down move to resume shortly thereafter.
  • #13,422
  • Nov 21, 2011 10:18am Nov 21, 2011 10:18am
Quoting SunTrader
Oh and my broken record saying Stocks are going down so so should Gold.
Hi I totally agree with the stock correlation/ rush to cover margins

I was just wondering where the 1640 came from.. thank you for explaining..
  • #13,423
  • Nov 21, 2011 10:19am Nov 21, 2011 10:19am
$31.11 for Silver right now, almost exactly $1 / gram, reasonable enough to me, $1,000 for a Kilo !
  • #13,424
  • Nov 21, 2011 10:26am Nov 21, 2011 10:26am
Quoting Goldmansacks
..... wondering where the 1640 came from.. thank you for explaining..
Note that if I am right (always a big if ) that 1640 zone is only wave 3 target of Wave C so waves 4 and 5 to follow much lower.
  • #13,425
  • Nov 21, 2011 10:32am Nov 21, 2011 10:32am
Quoting Ravissek
I never used to be good in moneymanagment,i fail on eurusd with my 2k acc.
Now i am on gold and i am hedging instead of making any money managment,my problem is close trade in loss.
So i am waiting now and i have one buy at 1800,second at 1737.
Lok at me i have buys at the momentaly tops.
Short at 1690 now.
How was your starting capital on trading?
Do you think key to sucess is know price action?

not sure what you are saying.

i would recommend you to read up on the following:


trading support and resistance

trading fibonacci retracements

trading pivot points and trendlines

trading divergence

candlestick patterns

price action


i can say for sure, once you understand the above, your trading style will improve for the better. the above are the core of any trading, you must incorporate them in your trading. you must grasp what they are. otherwise you are just trading blindly. in fact, you can easily make pips by just following the above alone, without the need for any trading systems.

but dont forget money management also. that is important. you must learn how to manage your account properly. only you can decide how to do it, no one can tell you what to do in this case.

if you want a system where you can make 5 pips every day almost guaranteed (iam only telling you this because you seem to be losing a lot, 5 pips a day will help you counter the losses), then have a look at orange roshans thread called SRDC 1. you will find it here on ff under the trading systems forum. you may find that method helpful.


good luck.
  • #13,426
  • Nov 21, 2011 11:32am Nov 21, 2011 11:32am
1656 coming soon and if break then blood bath
  • #13,427
  • Nov 21, 2011 11:32am Nov 21, 2011 11:32am
WHOA !
what a fall....!

i manage to enter a short at 1682. within seconds came out with + 10 pips. !!

this is crazy...
  • #13,428
  • Nov 21, 2011 11:34am Nov 21, 2011 11:34am
Quoting whatfx
WHOA !
what a fall....!

i manage to enter a short at 1682. within seconds came out with + 10 pips. !!

this is crazy...
i m in from 1720 0.01
  • #13,429
  • Nov 21, 2011 11:38am Nov 21, 2011 11:38am
Quoting hkc_645
i m in from 1720 0.01

good one
  • #13,430
  • Nov 21, 2011 12:11pm Nov 21, 2011 12:11pm
Quoting Goldmansacks
Hi I totally agree with the stock correlation/ rush to cover margins

I was just wondering where the 1640 came from.. thank you for explaining..
I see the rising trendline just below 75% fib(from 1600-1800) which gives your 1640ish price but I don't really agree with the stock correlation. Do you really think in today's volatile markets that big time traders and banks are going to be so overleveraged that if the DOW drops 300 pts they need to take out cash from GOLD? How do you explain the timeframe of July 22-Aug 9, the DOW dropped over 2100 pts and gold went up $192?
  • #13,431
  • Nov 21, 2011 12:35pm Nov 21, 2011 12:35pm
where we fing support guys? 1640?1620?
  • #13,432
  • Nov 21, 2011 12:40pm Nov 21, 2011 12:40pm
Quoting Ravissek
where we fing support guys? 1640?1620?
Not a good day for gold unless you are short.

I'd say support will come in at 1640.

right now it seems like free fall. I am flat.

Looking to buy when safe.

http://www.oilngold.com/analysis/com...2011112120030/

peace.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,433
  • Nov 21, 2011 12:48pm Nov 21, 2011 12:48pm
well I see support at 1660~
1653 physiological not much technically
1634~
1600~
  • #13,434
  • Nov 21, 2011 1:00pm Nov 21, 2011 1:00pm
Quoting Sreym33
... I don't really agree with the stock correlation. Do you really think in today's volatile markets that big time traders and banks are going to be so overleveraged that if the DOW drops 300 pts they need to take out cash from GOLD? .....
Not needing cash.

The reason why is risk off if stocks are being sold, which means bonds and US Dollars are being bought.

And you know what happens to Gold when that happens.
  • #13,435
  • Nov 21, 2011 1:01pm Nov 21, 2011 1:01pm
Quoting khan101
......... 1653 physiological not much technically
......
Huh?

Physiology is the science of the function of living systems.
  • #13,436
  • Nov 21, 2011 1:56pm Nov 21, 2011 1:56pm
Quoting SunTrader
Huh?

Physiology is the science of the function of living systems.
lol! you mean psycological. i hope i got the spelling right
  • #13,437
  • Nov 21, 2011 2:10pm Nov 21, 2011 2:10pm
Quoting patguchi
lol! you mean psycological. i hope i got the spelling right
Not my spelling but in any case 1653 is meaningless (psycho whatever) as far as what I can see.
  • #13,438
  • Nov 21, 2011 2:41pm Nov 21, 2011 2:41pm
Leonardo Fibonacci to the rescue again..


...but for how long?
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Anything can happen.
  • #13,439
  • Nov 21, 2011 2:52pm Nov 21, 2011 2:52pm
Quoting ddinnov
Leonardo Fibonacci to the rescue again..


...but for how long?
are you sure this thing will go down?
  • #13,440
  • Nov 21, 2011 3:39pm Nov 21, 2011 3:39pm
Quoting Ravissek
are you sure this thing will go down?
It stopped at the 38.2, I don't know if it's finished going down yet though. If silver is a leading indicator it could reverse/consolidate here but I'm keeping my powder dry, these markets are very very wierd at the moment..
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Anything can happen.
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