XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 796 | Metals Mine

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

  • #15,901
  • Jan 30, 2012 10:56pm Jan 30, 2012 10:56pm
Quoting fuse
Hi everyone, just taken a short position from 1,731.60 SL 1,735.62 TP 1,726.00. Will see how this goes. Looking to see if we get a bounce off the descending trend line
Closed this trade out cause price broke trend line. Opened a long from 1,731.11 SL now at break even. Waiting to see if price will continue. If trend line is broken I will close my long trade and think about going short (again!) If price breaks 1,740.00 I will hold my long and target 1,752.00
Attached Image (click to enlarge)
Click to Enlarge Name: Gold31jan12.png Size: 61 KB
  • #15,902
  • Jan 30, 2012 11:45pm Jan 30, 2012 11:45pm
why pay all those spreads?! I'd just stick to 1 position intially (i'm long). volume has been increasing with the upmoves gradually hinting a bullish market.

dont overtrade!
  • #15,903
  • Jan 31, 2012 1:45am Jan 31, 2012 1:45am
i don't like the fact that ADX on daily is at 72. Normally the trend has exhausted itself if its above 65. Yes, it could rally to 1760 if it convincingly breaks out above 1740/43, but I think downside risk is more where it could pullback to 1690 levels, or even more. So take your pick.

I bought @ 1721.5 yesterday and sold today at 1737. I'm not taking more risk by buying at these levels. I'd rather forgo the $20 than taking a $50 heat. I was a buyer from the 1540's till 1720, but now I think the rally is overstretched and it could end at anytime. My 2c.
  • #15,904
  • Edited 2:18am Jan 31, 2012 1:57am | Edited 2:18am
we'll see.. If the dollar falls as I expect.. then the long still remains

EDIT: long doing well so far
Attached Image (click to enlarge)
Click to Enlarge Name: Gold profit.png Size: 120 KB
  • #15,905
  • Jan 31, 2012 2:38am Jan 31, 2012 2:38am
^^ good for you.

again, i'm not trying to pick a top. i just think risk is now skewed to the downside.

another anecdotal example i can give is one of the brokers who i deal with was pretty bearish when gold was around 1650/60 and he was sending out short calls when it got to 1670 levels. i told him i'm actually a buyer of pb's thinking it goes to 1700. we all know how that turned out.

now, the same person is actually buying above 1740. He could be right, but what are the odds that he's late to the bull run? i say pretty high.

but what's a market without a buyer and a seller?! so trade your own beliefs, not mine.
  • #15,906
  • Jan 31, 2012 2:41am Jan 31, 2012 2:41am
well dont forget the xau/usd pair is based on the dollar index since gold prices don't fluctuate as much.

usd index has been bearish for the past 4 weeks
  • #15,907
  • Jan 31, 2012 2:59am Jan 31, 2012 2:59am
closed lower and top ones..

lower one closed with 1107p.. managed to break my previous personal record which was about 1013p. a single trade.

Attached Image (click to enlarge)
Click to Enlarge Name: gold_trades_948.gif Size: 28 KB
  • #15,908
  • Jan 31, 2012 3:01am Jan 31, 2012 3:01am
congrats!!

I'm starting to fall in love with gold only after 2 days of trading it
  • #15,909
  • Jan 31, 2012 4:01am Jan 31, 2012 4:01am
Quoting fuse
Closed this trade out cause price broke trend line. Opened a long from 1,731.11 SL now at break even. Waiting to see if price will continue. If trend line is broken I will close my long trade and think about going short (again!) If price breaks 1,740.00 I will hold my long and target 1,752.00

Closed my long at 1,742.72. I think price may continue but I'm happy with with my 116 pips (and its getting late here in NZ)
Attached Image (click to enlarge)
Click to Enlarge Name: Gold31jan12.png Size: 61 KB
  • #15,910
  • Edited 4:49am Jan 31, 2012 4:35am | Edited 4:49am
Quoting lilpip
looking at the weekly, bias is up from 1686-93 area
1755-60
1686-93
1627
mon. daily
up from 1708
silver weekly up from 31.83-91 area with eye on 32.30 area also
mon.daily, bias is up from 33.11
34.30-50
33.11
31.83-91
she sure acts like she wants to continue to climb.
lil late but ...
mon. bounce up from daily trend guide 33.11 is noted as they both stayed north for the day.
tue. daily
1751
1706
1661
with eye on 1741 response also.
tue. daily
34.22-42
32.99
31.83
eye on 33.50 response also as bounce up for the day is noted.
  • #15,911
  • Jan 31, 2012 4:49am Jan 31, 2012 4:49am
Remember what the DXY is based on,

It can be used as a barometer for gold IF the two are inversely correlated however, it is most important to be abreast of what the Number ONE Euro --GBP YEN and CAD are up to when using Dixy.

Also, some say it is an outdated system which does not include AUD at all or anything to do with one of the LARGEST trade partners CHINA. Possibly due to China's undervaluing and pegging of the CNY. Nonetheless it is not there.

They should also have a commodity based version.

Quoting Dyekid217
I'm with the bulls on this one. Here's my chart analysis. After some correction I think the USD will keep dropping sending this north!!
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,912
  • Jan 31, 2012 4:58am Jan 31, 2012 4:58am
Quoting fuse
Closed my long at 1,742.72. I think price may continue but I'm happy with with my 116 pips
Im with ya.
A goal for me is a third of the days trading range, depending where we are at in the month or quarter will let a third run.
  • #15,913
  • Jan 31, 2012 5:31am Jan 31, 2012 5:31am
some crude trades/scalps.. started as scalping in mind but it developed into some decent trades..

noticed a good PA on a decent level and kept adding..

last one closed with 210p not long ago..

Attached Image (click to enlarge)
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  • #15,914
  • Jan 31, 2012 6:03am Jan 31, 2012 6:03am
Noted below in chart/ Gold has pushed above the channel midpoint, it appears to have tested it for strength and lower prices have been rejected as of yet.

Through some of the first session into London at current.

So far the gains from last week have been pared. Yet, is is a bit quick to call.

Let's see later how the NY session pans out. Need to take a loo
Attached Image (click to enlarge)
Click to Enlarge Name: Gold weekly channel midline update jan 31.GIF Size: 47 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,915
  • Jan 31, 2012 6:05am Jan 31, 2012 6:05am
Is CLH a crude oil ETF?

Quoting KennyZ
some crude trades/scalps.. started as scalping in mind but it developed into some decent trades..

noticed a good PA on a decent level and kept adding..

last one closed with 210p not long ago..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,916
  • Jan 31, 2012 6:10am Jan 31, 2012 6:10am
Do you mean 1116 pips? which would be $11.16

116 would = $1.16 or a dollar and thirteen cents.

Quoting fuse
Closed my long at 1,742.72. I think price may continue but I'm happy with with my 116 pips (and its getting late here in NZ)
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,917
  • Jan 31, 2012 6:14am Jan 31, 2012 6:14am
Just click the button next to my name for full post.
Quoting XTrade
In terms of making money. Here is the breakdown : In 10 dollar movements
using a cash fx broker trading XAU/USD

.01 Lots ($1,000 value XAU over USD) (or 1 MICRO lot) x 1000 pips or (10 USD move)
= 10 USD in profit

.10 Lots ($10,000) (or 1 MINI lot) x 1000 pips or (10 USD move)
= 100 USD in profit

1.0 Lots or ($100,000) (or 1 STANDARD lot) x 1000 pips or (10 USD move)
= 1000 USD in profit

SEE attachment - It's the closest I could get to a 10 usd swing using all size lots

Yes agreed _ ALWAYS BE PREPARED FOR ANYTHING AND EVERYTHING...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,918
  • Jan 31, 2012 6:21am Jan 31, 2012 6:21am
Quoting XTrade
Is CLH a crude oil ETF?
#CLH2 is fx March 2012 Light sweet crude oil
  • #15,919
  • Jan 31, 2012 6:22am Jan 31, 2012 6:22am
i trade with 0.01-0.05 lot.
Microacount.
My dream is 1 lot or higher
Quoting XTrade
Just click the button next to my name for full post.
  • #15,920
  • Jan 31, 2012 6:42am Jan 31, 2012 6:42am
I saw this on the EurAnalysis thread (posted by Knoholygrail & PipTrapper), and think it's worthwhile listening to - if the events suggested here pan out market volitility will skyrocket, but ultimately it will be bullish for commodities - gold is mentioned specifically several times.

Of course I couldn't work out how to post it in a better format, but the interview in question is currently sitting very prominently on the first page of the jsmineset website (some dinosaurish things are hard to overcome )

http://www.jsmineset.com/

cheers cath
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