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

  • #13,541
  • Nov 23, 2011 10:13am Nov 23, 2011 10:13am
Quoting Ravissek
and you are preparing for sell or you have sell?
no sell, daily chart is oversold, price is very near 150 SMA, should be going back up in the near future. With the Super-Duper committee falling on their ass and US potentially downgraded again before the year's end... should be an interesting year end.

http://www.marketwatch.com/story/sup...me_latest_news
  • #13,542
  • Nov 23, 2011 10:18am Nov 23, 2011 10:18am
Quoting Sreym33
no sell, daily chart is oversold, price is very near 150 SMA, should be going back up
I second that

1650 or 1630 would be a good buy. Its gone below 1680....so it will probably go down to one of those....would be a little surprised if it went down to 1600....according to my daily chart post today....I doubt it will go below 1650....which is right about where it gets that strong support from the 150sma.
Life's a bitch....so be a dog and cover it!
  • #13,543
  • Nov 23, 2011 10:19am Nov 23, 2011 10:19am
Once the ABC correction off alltime highs complete - much lower though.
  • #13,544
  • Nov 23, 2011 10:28am Nov 23, 2011 10:28am
Quoting SunTrader
Once the ABC correction off alltime highs complete - much lower though.
can i see ur count on a chart mr. sunt?
Have I got something on my face, SOLDIER?
  • #13,545
  • Nov 23, 2011 10:35am Nov 23, 2011 10:35am
Quoting SunTrader
Once the ABC correction off alltime highs complete - much lower though.
from my chart, end of 'C' was 1667. please show.
  • #13,546
  • Nov 23, 2011 10:39am Nov 23, 2011 10:39am
Quoting bumapatria
can i see ur count on a chart mr. sunt?
First is daily chart showing price target area for wave 3 of Wave C and then second is weekly showing price target area and likely time target for completion of Wave C by end of year:
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: XUewWeekly.png Size: 24 KB
  • #13,547
  • Nov 23, 2011 10:51am Nov 23, 2011 10:51am
But almost as important is what the charts for stocks are showing because no matter what some think Gold has been moving, lately anyway, in tandem with equities.

SPX cash index:
Attached Image (click to enlarge)
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  • #13,548
  • Nov 23, 2011 10:52am Nov 23, 2011 10:52am
Quoting SunTrader
First is daily chart showing price target area for wave 3 of Wave C and then second is weekly showing price target area and likely time target for completion of Wave C by end of year:
no one said gold is a straight line up. i respect ur view, great stuff
Have I got something on my face, SOLDIER?
  • #13,549
  • Nov 23, 2011 11:01am Nov 23, 2011 11:01am
Quoting SunTrader
U S Dollar up almost 1% today.
Gold is down 0.8%
  • #13,550
  • Nov 23, 2011 11:02am Nov 23, 2011 11:02am
Quoting SunTrader
But almost as important is what the charts for stocks are showing because no matter what some think Gold has been moving, lately anyway, in tandem with equities.

SPX cash index:
good point too

btw tommorow at exactly 14.4 hours we will see mercury retrograde. retrograde motions seem to have an 'effect' in swing highs and lows, and mercury. well in greek mythology it is the messenger of the gods, also a thief...it is said to influence communication...

a retrograde in mercury is a 'backward' looking movement an illusion that its moving backwards but it isnt.

heres definition from sky script.com
Mercury retrograde period is a difficult time to begin new projects linked to communication, networking, information-flow and travel. Extra caution is needed to ensure that messages are clearly understood and delivered; this often involves slowing things down and ensuring that compromises are not made for the sake of speed.

Mercury retrograde reminds us that efficiency is built upon stability, so think of it as a maintenance period, ideal for revisiting old problems that call for action but lay ignored. If communication problems exist, Mercury retrograde will bring them back to your attention. By taking time out to resolve them now you will be better equipped to make smooth progress in the future.


my interpretation is that people beenn buying it for too long. it needs to find stability and equilibrium. what do u think about the statemnet Sunt? id like to hear ur voice on this one too

il try get previous dates to see the validity of the event
Have I got something on my face, SOLDIER?
  • #13,551
  • Nov 23, 2011 11:20am Nov 23, 2011 11:20am
Quoting bumapatria
good point too

btw tommorow at exactly 14.4 hours we will see mercury retrograde. retrograde motions seem to have an 'effect' in swing highs and lows, and mercury. well in greek mythology it is the messenger of the gods, also a thief...it is said to influence communication...
sorry BP but now greek mythology is going to control the trend of the markets?
  • #13,552
  • Nov 23, 2011 11:45am Nov 23, 2011 11:45am
Quoting Sreym33
sorry BP but now greek mythology is going to control the trend of the markets?
no it isnt. its just interpretation of the astrological meaning to the body. trying to make things clear here thas all. if the shit works for 3000+ years and made famous 100+ years ago, that to me is valid.

well thing is, astrology does have an effect on financial markets believe it or not. not 100% success rate, but if it works, it works. i dont know why or how, but if i got good swing trades on these (gold not tested live yet) ill prove them valid wehn they are.
although ill use venus pluto... its more natural harmonic to gold.

alas here are some past dates on mercury retrogrades and direct motions. watch tommorow for swing low/high possibility with the retrograde.
Attached Image (click to enlarge)
Click to Enlarge Name: merc.gif Size: 15 KB
Have I got something on my face, SOLDIER?
  • #13,553
  • Nov 23, 2011 11:51am Nov 23, 2011 11:51am
Quoting Sreym33
looks like pullback on new uptrend to me. may be a great buy right now.
i guess it was a good buy point.
  • #13,554
  • Nov 23, 2011 12:06pm Nov 23, 2011 12:06pm
It was indeed a good time to buy. I'm glad you called it sir BeMac. I will probably never trade on your calls alone unless my own analysis matches precisely, but looking back, someone would have done mighty fine if they traded on your calls.

I am pleased that XTrade requested all demo trade calls be identified as such.

Another winning demo trade on my end. I may be able to quit my day job if it demo conditions matched live trading.

There are forces directly affecting your position when you go live (brokers and counter parties who want your money), so beyond the basic psycho factor of having money on the table, there are other reasons that demo trading can't be compared.

What impresses me is when people identify movements that are strong enough that counter parties and brokers are unable to shake you or hunt your stops.

ST - I don't understand your target for the end of the year completely, but I'm assuming that you think stocks will drag gold to the 1300-1400 area on a fundamental level.

You may be right about this. Myself - still staying out and watching patiently, but I would be interested if you have any more you might offer in terms of explaining the end of year target you've set.
  • #13,555
  • Nov 23, 2011 12:51pm Nov 23, 2011 12:51pm
Quoting Wheels
It was indeed a good time to buy. I'm glad you called it sir BeMac.
sorry Wheels, just to clarify...Did I miss some of BeMac's posts, did he call 1680?
  • #13,556
  • Nov 23, 2011 12:57pm Nov 23, 2011 12:57pm
Quoting Bemac
I put the Tips here because of your Large Viewing audience.
That plus you told me I could post What/Whenever.

Gold PA is within 10% of a bottom.
Start Small. (Smallest Lot the bugger will let you play). Read PA as we Climb & pick your ADD Entry points Wisely.

Remember: You are putting YOUR Cargo up against Mine & a more that are better than me.

Speed Kills!

B
I was referring to this post on Nov. 21st.
  • #13,557
  • Nov 23, 2011 1:04pm Nov 23, 2011 1:04pm
A number of other analysts called 1680 as a resistance before it hit the 1660s, but I didn't see anyone else call the timing of a buy entry so accurately as Bemac.

Just pointing out a good call, even if it was made on Monday.

Who knows where PA is headed now.

I look forward to more input about this end of year call by Suntrader.

No disagreement or point of contention.

I would be quite advantageous for me so I would be happy if ST turns out being correct.
  • #13,558
  • Nov 23, 2011 1:05pm Nov 23, 2011 1:05pm
Any particular entry point/time can be a possible good buy or sell point depending on the traders holding period.
  • #13,559
  • Nov 23, 2011 1:22pm Nov 23, 2011 1:22pm
just got back.

i see i had + 6 pips on my buy earlier before it fell. well, will hold for a while. it seems to have gone bearish for the time being. but i have no doubt it will go back up.

closed my gbpjpy for +40 pips. closed nzdjpy for +20 pips. eurgbp still open currently at - 8. will leave this open for a few days until in profit.


got to go out again !
  • #13,560
  • Edited 3:04pm Nov 23, 2011 1:44pm | Edited 3:04pm
Quoting SunTrader
First is daily chart showing price target area for wave 3 of Wave C and then second is weekly showing price target area and likely time target for completion of Wave C by end of year:
I am starting to think this is a possibility too, with the news on Germany out today ie Germany failed to get bids for 35% of the 10-year bonds offered for sale today, this is not great news, as Germany was considered the powerhouse of Europe... this is likely to propel borrowing costs even higher elsewhere in the Euro and have another impact on investor confidence, damage the Euro more, and drive more money towards US $$ , the US DXY is currently hovering just under 80 , if we get to 82+ I think we will see more of a sell off.

Unless of course.... the Fed goes on a QE3 Euro buying binge ....
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