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

  • #14,581
  • Dec 16, 2011 9:03am Dec 16, 2011 9:03am
There is always doubt, just a matter of how much.

But on my daily chart yesterday was a doji so .... today being up, so far, thinking bounce is underway. But also thinking it will be dead cat variety.

But bottom trendline? you must mean horizontal support line.
  • #14,582
  • Dec 16, 2011 9:09am Dec 16, 2011 9:09am
Quoting SunTrader
There is always doubt, just a matter of how much.

But on my daily chart yesterday was a doji so .... today being up, so far, thinking bounce is underway. But also thinking it will be dead cat variety.

But bottom trendline? you must mean horizontal support line.
I mean bottom trendline since 2008...
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  • #14,583
  • Dec 16, 2011 9:13am Dec 16, 2011 9:13am
Here is the forming morning star... we still have to wait for it to confirm...
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  • #14,584
  • Dec 16, 2011 9:14am Dec 16, 2011 9:14am
... and the butterfly on H4 AND D1...
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  • #14,585
  • Dec 16, 2011 9:16am Dec 16, 2011 9:16am
I don't know how fundamentals play these days but technically we have 3 factors that point north...

Just my 2 cents...

Walt
  • #14,586
  • Dec 16, 2011 9:45am Dec 16, 2011 9:45am
Quoting Sreym33
I posted a really good video before on oil and commodities in general from Chris Martenson. The post was on pg 928 of this thread, post #13908. I think its a must see if anyone missed it.
That was and outstanding video. Many thanks.
Kill the ego, or it will kill the mission.
  • #14,587
  • Dec 16, 2011 9:57am Dec 16, 2011 9:57am
Quoting Walt
I don't know how fundamentals play these days .....
Fundamentals are what brought Gold, Oil, Euro along with Equities down.

And I don't see things improving any time soon.

But also technicals (EW, volume, momentum etc.) still haven't changed for the better so any bounce is another selling opportunity I believe.
  • #14,588
  • Dec 16, 2011 11:27am Dec 16, 2011 11:27am
Quoting SunTrader
There is also the fact that almost all the Gold ever mined is still here.

Crude Oil is here today, gone tomorrow.

But where to store it ?

And when its price go too high, then alternate sources are more feasible as long as the sun is shining, winds are blowing and water keeps flowing.
  • #14,589
  • Dec 16, 2011 11:30am Dec 16, 2011 11:30am
gold dont rly moving today.i am off for the weekend.
I wish green pips to all.
Cya on monday
  • #14,590
  • Edited 2:04pm Dec 16, 2011 12:10pm | Edited 2:04pm
Quoting Goldmansacks
...
Rule of 70 (or 72 but who is counting)
Totally agree on much of your reasoning. Was not debating you so much on the point of production cost and market price because as far as I can tell, we don't disagree.

I was responding to Aaron's argument that gold's price should not rise due to production cost. The price is determined in the market depending on supply and demand factors (supposedly). As demand ramps up in the long term, supply will increase, but as we both agree, there is a finite limit to how much can be economically supplied at the current price point.

Rule of 70 and 72 both exist - they differ, but both work for these kinds of estimates.

Still a tremendous amount of people long on gold via ETFs.

China is still looking to add to its reserves.

Fundamentals look good.

Let them present buying opportunities. It's a gift. If someone lost their shirt on this dive, then they should do some extensive research about money management.
  • #14,591
  • Dec 16, 2011 4:16pm Dec 16, 2011 4:16pm
Here is a little joke to kick off the weekend...
A spaniard, Italian and a Greek walk into a bar and order a drink. The bill comes, who ends up paying....

The Germans.
  • #14,592
  • Dec 16, 2011 5:30pm Dec 16, 2011 5:30pm
Hello all,

Fell asleep last night and forgot to post this.

Notice the channel has been respected so far on this latest downswing.

See the chart below.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #14,593
  • Edited Dec 17, 2011 10:35am Dec 16, 2011 5:44pm | Edited Dec 17, 2011 10:35am
Not quite 40 but just about 30. (the high to low was 32.17) - ((( READ THE PRIOR POST ALSO MORE IMPORTANT )))-

Silver almost back above 30.
Quoting XTrade
Still long GBP.

Wouldn't be surprised to see a 40 USD day north tomorrow....

Still need to post channel - reminder to self.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #14,594
  • Dec 16, 2011 5:45pm Dec 16, 2011 5:45pm
Quoting XTrade
Hello all,

Fell asleep last night and forgot to post this.

Notice the channel has been respected so far on this latest downswing.

See the chart below.
Nice chart. I was looking at PA this way myself, but still too chicken to act and waiting to see if technically-minded gold skeptics are right in their call for lower PA.

A lot of people are chattering about this in the finance blogosphere. Some saying a break down below this level will spell doom.

Resource Investor writer, Toby Connor, has a piece saying the bubble is about to inflate. I'm not so sure about that kind of bubble talk. Smells as much as those saying the bubble has burst. (Smilie, special for Suntrader).

He is an adamant gold bull found all over Google espousing the secular bull market in gold, as well as its safe haven status. Balance is always desirable.

For your interest:

http://www.resourceinvestor.com/News...ble-Phase.aspx
  • #14,595
  • Dec 16, 2011 10:04pm Dec 16, 2011 10:04pm
Quoting khan101
up bro its more likely same for me .looking at weekly i see 1400 easily

Bad, Bad, Bad call !


Quote
I am assuming alot of stops on 1600 once they hunt those it could crash to 1530 very soon in an hour possibly. I dont see any positives for gold right now .


Worst call !


When you are a Commercial member and you throw such calls with so much confidence, people may fell for them, so kindly be careful next time, Thank you.
  • #14,596
  • Dec 16, 2011 10:25pm Dec 16, 2011 10:25pm
Quoting forexfacts
Different opinions from different people, i called an old time trader, i asked him if 1400 is round the corner and he said if it goes down to 1550 buy more.

Now what to do ?

It went down to 1560 right ? Today it is 1600, so my own source is more reliable.

Just Forget the source! i have learnt one thing from this thread:

when it comes to trading trust your own self only.

And yes, unlike other investments, "the feel of the market" and "the voices from the market" can mislead you very easily.
  • #14,597
  • Dec 16, 2011 10:35pm Dec 16, 2011 10:35pm
So down to 1480 up to 2800 PA range, How many pips can collect in this range ?
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  • #14,598
  • Dec 16, 2011 11:02pm Dec 16, 2011 11:02pm
Quoting Goldenhand
I agree 100% though i dont know why i feel like buying some here

Why do your status say "Multiple User names" you can come with your original ID man
  • #14,599
  • Dec 17, 2011 2:36am Dec 17, 2011 2:36am
Quoting XTrade
Hello all,

Fell asleep last night and forgot to post this.

Notice the channel has been respected so far on this latest downswing.

See the chart below.
1531 will be the support now.
  • #14,600
  • Dec 17, 2011 4:13am Dec 17, 2011 4:13am
(no .. have not read others' previous posts ... short of time ....just posting what comes off mind .. will do in depth analysis later .. sorry for mess)
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