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

Is it Aussie leading AU or the other way round ?
Looks like gold leads. A/J is up, A/U down following gold I presume.

definitely broken.





this is in question now.more likely than less it should give little to nothing of a solid support.

@buma. is everything done and over after the FOMC statement?

Straight line up, they want to see it in the $1700s, right away!

Guess that's why you don't trade against the main trend and don't listen to 14 year olds

lol stopped out +1 USD.

nice to whoever went long

sold 1/3 position at 1687.75, long from 1662.5

still long the rest, aiming for 1715.

Buma, i'll try to explain myself:

As Forex isn't centralized it is impossible to have volume data for the entire market.

Brokers can only show it's own volume, and that is a small part of forex market.

MACD, RSI and other indicators are calculated from price which is esencially the same for everyone. So, even if there is a difference, it is very small.

In the other hand, volume is data from only one broker, so it is not dependable, because it can be very different among brokers.

this. there were many who were intent on shorting this mkt this morning, but i thought why fight the trend, i will keep buying till trend becomes bearish. lost some money getting stopped out at 1658, but entered long position again and made 3X as much as I lost

excellent call nim1984.

You have a free ride!!!

Congrats

Now the test of the trendline occurs. Lets see if it holds or breaks.

And its broken. Hopefully it'll hold.

It had to go into the $1700s first

congrats to everyone who went long!
enjoy your profits


(not me i got stopped out on BE+ LOL).


awaiting daily close

wow! what happend?

from 1650 striaght to 1700s (now 1702)

unbelievable rally. didn't think fed said anything different, but hey, i'm not complaining about the extra ticks. revised my target to 1708, will be out of all longs there.

I am selling June and December gold call options short here. This market will tank. FED would not keep the rates so low for so long if the economy would not be very bad. They know something we don't.

out of all longs @ 1700.5. Don't think mkt will go higher than 1720 in near future so getting out bfor mkt pulls back hard on me. can't get too greedy. i think mkt can pullback to 1610 area bfor making its way to 1760.

Well, it appears I was wrong. Gold has had a confirmed breakout today - therefore no short term correction. This means the "blowout" could occur sooner rather than later. It means the USD end game is approaching faster than expected.

In fact, a number of commodites/commodity stocks are/have been showing breakouts over the last few days.

I lost my small positions on euro and closed the rest (long term positions) out after that weekly bar took out the high of the lower weekly bar...some time ago now.
(normally when this occurs, it is a sit up and watch scenario - take note budding traders).

Today, I already had established "long" positions on euro, gold, DOW, and aud. I had to wait most of the day for many of these to come good again. No big deal as there was no risk on any of these positions. Too much risk is the number one killer of any account.

It would appear there is no stopping this inflation (currency debasement) madness. This means people need to be aware of the consequences. People need to internationalise their assets. High yielding international stocks are a good hedge also (as well as agriculturals). These companies get much of their earnings from much stronger currencies and where demand is still robust.

I would expect the DOW to make new highs in this inflationary environment too, despite all the dreadful news we are/have been witnessing. I suppose this is why they call it the stocks stealth bull market. I expect very high levels of inflation coming soon (again). Cash in the bank is not an option. This is not the Weimar Republic. This is something much bigger and on a global scale.

....gotta love that gold run so late in the day!

Best,

KR

The clock is ticking....

Yeah, they know they are going to strip the paper wealth of every man, woman and child, while the central banks and asian nations continue to be net accumulators of physical gold (and silver).

The money supply is increasing faster than most people can comprehend.

The otc derivatives (mostly held off balance by a handful of banks) is exploding higher. Hardly a satisfactory solution following the last fiasco, is it?