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

  • #15,721
  • Jan 25, 2012 1:58pm Jan 25, 2012 1:58pm
Quoting nim1984
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.
imho no need to be a short term trader/scalper. Gold is in a bull market (as long as real term interest rates are negative and debt continues to be increased).

Why not pick a low risk entry and follow the market up?

Let the market pay you.
  • #15,722
  • Jan 25, 2012 2:12pm Jan 25, 2012 2:12pm
Quoting Bemac
Anyone ever noticed how LilPip just keeps on apostin' those Pivot #s?
Ever wondered Why?
He's found his & that means nothing more than having a Belief! A Proof! & a Plan!

I have been asked, more than a few times via PM, My opinion of This or where I think That is going...
Guys. 'My Opinion incorporates My Risk & My Timefarmes & a whole bunch of other stuff...
STOP!
Stop trying to pick a quicky & stay in for a while. It WON'T Happen.
Find where You fit in the Market & say Hello to Your Style.
I know that won't be easy. I don't care. I passed that...

....this man is in charge of his cargo...be in charge of yours!
  • #15,723
  • Jan 25, 2012 2:31pm Jan 25, 2012 2:31pm
Quoting jsr
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.
wow...that is definitely correct right...that the volume is only from that broker?? I was always of the opinion that it was global volume.
Life's a bitch....so be a dog and cover it!
  • #15,724
  • Jan 25, 2012 2:32pm Jan 25, 2012 2:32pm
Quoting Sreym33
last night, sold from 75 down to 65... got out. short again at 69 at 11am.
It has a ways to fall still before it breaks upward again. I am anticipating it falling at least until the Fed statement tomorrow, maybe longer, then we'll see it rise.
good call.
Life's a bitch....so be a dog and cover it!
  • #15,725
  • Jan 25, 2012 2:36pm Jan 25, 2012 2:36pm
Hello all, I will find the post, as I said the calm before the storm. hope it wasnt one that I erased or slept on lol...

In any case WHAT A KICK ASS DAY!!!!!!!


I have been trading the currency account via phone all day and you all know my
buying patterns on AUD AND KIWI if you visited 50 pips. This week has been kick ass.

Now. To Gold and Silver, with expected same old situation news out of the US
today on a BIG news day.

The results are clear. The triangle is OFFICIALLY BROKEN BULLISH.
Many shorts were likely disappointingly stopped out this morning.

DO NOT SAY YOU DID NOT HAVE FAIR WARNING>

These exact positions / patterns and strategies have been documented here since 1050. SYM T.

NOW another MASSIVE 400 USD weekly SYMMETRICAL TRIANGLE has BROKEN Bullish.

There was a test of the line, a bearish opportunity last night and another opp for the USD to take claim all of which have failed so far.

As I posted last night I believe, now that 1700 is cracked 1850 next and then a run on 2000.

Sorry bears bad day..

Enjoy the sight.
X
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,726
  • Jan 25, 2012 2:40pm Jan 25, 2012 2:40pm
Possibly not cracked yet but clear breach of strong resistance at 32.80 area.

a close above the purple line is desired, yet not necessary to continue trend at this rate.

looking to test 35 next

ON THE WAY UP>!

Remains bullish
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,727
  • Jan 25, 2012 3:06pm Jan 25, 2012 3:06pm
deat x trade.
You mean the up trend go away,target 1800 , 2000?
steve
  • #15,728
  • Jan 25, 2012 4:25pm Jan 25, 2012 4:25pm
Wow, what a day. Pleasantly surprised when I woke up this morning! Got so excited I got out of bed at 7am and went into the office to catch up on what happened! (public holiday here in Australia)

Weekly triangle well and truly broke out as did the daily channel. Thanks Bernanke, QE to infinity!

Momentum is strong with targets at 1720 and 1738. Key is to hold 1705 on the weekly close. I expect the inevitable Cartel attack, probably Friday, but the Asian and European sessions should see continued buying so hopefully that will act as a bit of a buffer.

Silver has cleared the 32.8-33 barrier with targets at 35-35.5. The main battle will come near 37 where the main downtrend line is.

Have heeded the advise of more experienced traders on this thread I've stopped scalping gold and silver. Trading higher TFs with smaller lots and larger stops has been much less stressful. Still stacking and will continue to on dips.
  • #15,729
  • Jan 25, 2012 4:51pm Jan 25, 2012 4:51pm
I would like to thank the fellow traders Buma,XTrade, Lil ,your information and knowledge has been of great help to me .
  • #15,730
  • Jan 25, 2012 5:21pm Jan 25, 2012 5:21pm
Could be headed back to 1722 - 1771 Bracket Range. Breaking 1722 will take some effort but I can see it by weeks end.
Attached Image (click to enlarge)
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Happy Rabbie Burns Day to All.
Certainly burnt The Bears.
No - Offence
B
  • #15,731
  • Jan 25, 2012 5:35pm Jan 25, 2012 5:35pm
Yes these are the targets for me as of now to break. Gold dip is over for a bit now. ALL of January was bull Into FEB my birthday month!


Ultimately I'd like to see a healthy test of 2200 before a possible retracement to the 1800s then back across 2000

THE SCARY PART OF THIS IS THAT if GOLD stays above 2000 for a prolonged period which is extremely possible we may have to kiss the 1000's goodbye

AS PHYSICAL BUYERS THAT IS...


Quoting stevebalmmer
deat x trade.
You mean the up trend go away,target 1800 , 2000?
steve
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,732
  • Jan 25, 2012 5:48pm Jan 25, 2012 5:48pm
Quoting XTrade
Yes these are the targets for me as of now to break. Gold dip is over for a bit now. ALL of January was bull Into FEB my birthday month!


Ultimately I'd like to see a healthy test of 2200 before a possible retracement to the 1800s then back across 2000

THE SCARY PART OF THIS IS THAT if GOLD stays above 2000 for a prolonged period which is extremely possible we may have to kiss the 1000's goodbye

AS PHYSICAL BUYERS THAT IS...

yeah real nice X - feb my bday month too and i got BE STops run over in a sec




i might give this gold thign a break. not working out as well as i planned. or even give it up - back to currencies and indexes.
Have I got something on my face, SOLDIER?
  • #15,733
  • Jan 25, 2012 6:42pm Jan 25, 2012 6:42pm
Wow, X Trade nice prediction! Yesterday was quite an expensive day for me.
  • #15,734
  • Jan 25, 2012 7:03pm Jan 25, 2012 7:03pm
Whoa, slow down there buddy, after all your hard work, and learning you're not giving up shit, you are just starting to grow a bit into this.

And the more you discuss Gold and your views when necessary the better.

What where your trades? shorts? I take it from the night before?

AND if you broke even you DIDN'T LOSE.

Let me ask you a serious question I want answered, were you aware of the news releases today?

Quoting bumapatria
yeah real nice X - feb my bday month too and i got BE STops run over in a sec




i might give this gold thign a break. not working out as well as i planned. or even give it up - back to currencies and indexes.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,735
  • Jan 25, 2012 7:06pm Jan 25, 2012 7:06pm
Quoting XTrade
Whoa, slow down there buddy, after all your hard work, and learning you're not giving up shit, you are just starting to grow a bit into this.

And the more you discuss Gold and your views when necessary the better.

What where your trades? shorts? I take it from the night before?

AND if you broke even you DIDN'T LOSE.

Let me ask you a serious question I want answered, were you aware of the news releases today?
yeah i did. fomc and fed rates stuff. trades were at i think 1673.90. that got stopped out on a profit stop of +2 USD.
Have I got something on my face, SOLDIER?
  • #15,736
  • Jan 25, 2012 7:08pm Jan 25, 2012 7:08pm
Thanks, why you took london shorts instead of longs at the bottom?

Just because the pattern breaks into itself, especially on a day before a crap load of news does not mean it will last.

The symmetrical triangle had broken on a TL excluding wicks.
It was tested, then it dove a bit,

this was all manipulation of big players in my eyes during london, taking profits and pushing the price down before anticipated releases to either A. be short if the dollar booms, or

B. More importantly LONG, below market open of the prior day at a better price than would be if rolled. Many new positions were likely put on today.

I even added one on Monday or tuesday at the breach of the Downward TL.

Quoting fibbonix
Wow, X Trade nice prediction! Yesterday was quite an expensive day for me.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,737
  • Jan 25, 2012 7:14pm Jan 25, 2012 7:14pm
OK so it's not a loss. Take a look at my last post.

Wait for a potential anywhere from 1678 to 85 and if the dip looks good get long. If things stay hot, it might only test 1698 or so 1700 before a bounce.

There will be a nice continued trend trade I personally believe here.

For the pattern to complete the price should be appx 2050. This will take some time though just as the triangle took to form.
Quoting bumapatria
yeah i did. fomc and fed rates stuff. trades were at i think 1673.90. that got stopped out on a profit stop of +2 USD.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,738
  • Jan 25, 2012 7:16pm Jan 25, 2012 7:16pm
if anything all my forecasts/analysis might have been for a price rise than a drop.

dumb dumb.



-----------------------------------------------
yeah ill watch for retests. probably at 1680 - 1660.
but im not touching it. ill jsut observe it.
or do you think 1700 would be the new "floor" since we are entering new terriroty in price?

it really questions my ability to trade gold this whole thingy that happened.
Have I got something on my face, SOLDIER?
  • #15,739
  • Jan 25, 2012 7:32pm Jan 25, 2012 7:32pm
Quoting bumapatria
yeah real nice X - feb my bday month too and i got BE STops run over in a sec




i might give this gold thign a break. not working out as well as i planned. or even give it up - back to currencies and indexes.
You want some cheese with that whine?

You NEVER give up!!

Pick yourself up and get your punk ass back in the game!

The most successful people in the world are largely the ones who have made the most mistakes.

You have to learn from your mistakes and be resilient!

Welcome to the Summer Sausage Club!
Life's a bitch....so be a dog and cover it!
  • #15,740
  • Jan 25, 2012 7:40pm Jan 25, 2012 7:40pm
Couldn't have said it better, I've lost a shit load of trades in currencies, even lost last night and documented in my other thread,

guess what if I didn't pick my ass up do a quick analysis and read a few briefs I wouldn't have made all the loss back today and 140 or so pips profit. so net appx 240.

You gotta do as the man says. Learn from your mistakes and don't make them again.

If you keep doing the same thing and failing simply switch to a new plan or bring it up here.

Also get off those BREAK EVEN trades, especially with gold, If my breakout entry was with a stop at be I would have been long since stopped out last night.
it's on the chart, take a peek.

Quoting dogbreath
You want some cheese with that whine?

You NEVER give up!!

Pick yourself up and get your punk ass back in the game!

The most successful people in the world are largely the ones who have made the most mistakes.

You have to learn from your mistakes and be resilient!

Welcome to the Summer Sausage Club!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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