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

  • #16,241
  • Feb 9, 2012 7:25am Feb 9, 2012 7:25am
I wonder what the US unemployment figure(1.30 pm - 5 mins) will do to Gold.
  • #16,242
  • Feb 9, 2012 8:32am Feb 9, 2012 8:32am
Quoting Sreym33
The 2nd scenario which I would much rather see is a small pullback from today's move to around 1730 and then go long to 1822-1880. 1710 was approximately the 50% pullback from 1648 to 1764 and 1822 is the 150% projection, 1880 being the 200%.
long @ 1735. target 1822
  • #16,243
  • Feb 9, 2012 8:47am Feb 9, 2012 8:47am
Quoting Sreym33
long @ 1735. target 1822
This gives me some confidence
  • #16,244
  • Feb 9, 2012 8:57am Feb 9, 2012 8:57am
Quoting forexfacts
This gives me some confidence
It's nice when my price patterns work out, it does give me a greater degree of confidence to trade.
Price needs to break 1762 for me to be even more confident. Coming back up to 1750 and falling away could mean a double top but I think the bulls will push thru.
  • #16,245
  • Feb 9, 2012 9:04am Feb 9, 2012 9:04am
My longish term target is 2100

As of now I just want to take out 175-4

Then see a test of 1800.

Not looking down yet, besides any normal 10 or 15 USD swing,
Quoting jsr
Price seems to be in a triangle with 1734.50-1739.50 acting as pivot zone.

50% retracement of February Hi-Lo is @ 1736.49.

If price closes below 1724, the ascending channel seen on H4 charts will be broken.

As Bemac and XTrade are expecting prices well below that, I have to ask: Are we talking about a significant downside move?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,246
  • Feb 9, 2012 9:43am Feb 9, 2012 9:43am
added 2nd unit @ 1745, stop raised to 1721 for both positions(1st one @ 1733.5), target still 1817
  • #16,247
  • Feb 9, 2012 10:09am Feb 9, 2012 10:09am
hy xtrade!

i have a little sell trade tp 1740.

Long target hope you right, is 2000.

First long entry on 1750.

steve

Quoting XTrade
My longish term target is 2100

As of now I just want to take out 175-4

Then see a test of 1800.

Not looking down yet, besides any normal 10 or 15 USD swing,
  • #16,248
  • Feb 9, 2012 10:24am Feb 9, 2012 10:24am
Didn't have much impact

The number is flawed anyway
It does not include:

1. People who are unemployed but off unemployment
2. Part time workers
3. Illegals who are unemployed. (One might think this doesn't count, yet, when they are employed they are taking up jobs. So it is valid).

Amongst other problems.

Quoting Roncho
I wonder what the US unemployment figure(1.30 pm - 5 mins) will do to Gold.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,249
  • Feb 9, 2012 12:21pm Feb 9, 2012 12:21pm
Damn, we are back @ 173x... and I have a long open at 1749...

Any chance we go up again or is this Greece deal going to push Gold down?

Thx,

W
  • #16,250
  • Feb 9, 2012 12:47pm Feb 9, 2012 12:47pm
Quoting XTrade
Didn't have much impact

The number is flawed anyway
It does not include:

1. People who are unemployed but off unemployment
2. Part time workers
3. Illegals who are unemployed. (One might think this doesn't count, yet, when they are employed they are taking up jobs. So it is valid).

Amongst other problems.
Nicely stated Xtrade. I even monitored the S&P index and there was no significant rally.
Anyways, I'm long @ 1726. Stop loss 1699 Take profit (Not set yet, I intend to take profit on 40% of my lots at 1793), then I'll watch where it heads from there.
  • #16,251
  • Feb 9, 2012 1:11pm Feb 9, 2012 1:11pm
Quoting Roncho
Nicely stated Xtrade. I even monitored the S&P index and there was no significant rally.
Anyways, I'm long @ 1726. Stop loss 1699 Take profit (Not set yet, I intend to take profit on 40% of my lots at 1793), then I'll watch where it heads from there.
Roncho, I see some of your posts with your entries. How are you getting such good positions and calling the bottoms? I saw the other one you had in the low 1500's before Xmas and then today's post you said you had 1726. that is brilliant.

Please explain if you would be so generous.
Thanks!
  • #16,252
  • Feb 9, 2012 1:33pm Feb 9, 2012 1:33pm
http://goldsilver.com/news/tf-metals...netrable-1750/
  • #16,253
  • Feb 9, 2012 1:36pm Feb 9, 2012 1:36pm
its fishy gold and silver going down eating shitt and the rest of the market still holding is greece sellen the dam thing

es and dow in green
  • #16,254
  • Feb 9, 2012 1:51pm Feb 9, 2012 1:51pm
Quoting Sreym33
Roncho, I see some of your posts with your entries. How are you getting such good positions and calling the bottoms? I saw the other one you had in the low 1500's before Xmas and then today's post you said you had 1726. that is brilliant.

Please explain if you would be so generous.
Thanks!
Hi Sreym,
Thanks for noticing Sir.
Well I closed those long term positions @ around 1557(It seemed as though the trend-line was broken on chart), wish I was brave enough to keep them longer. lol.
About my methods, i'm an old school swing trader , I only use trend lines, channels and historical resistance-support.
I use price level alarms to alert me when price action is close to my desired level and then I start obtaining lots close to the price and increase the lots as it hits the price and sometimes passes it (the average is always close to the desired price at the end of it). I close any excess positions afterwards, only retaining the number of positions I initially wanted. I still keep in mind Stop loss and Take profit levels though.
  • #16,255
  • Feb 9, 2012 1:57pm Feb 9, 2012 1:57pm
This was FXCM's analysis
Pivot: 1748.00

Our Preference: SHORT positions below 1748 with 1724 & 1709 in sight.

Alternative scenario: The upside breakout of 1748 will open the way to 1763 & 1775.

Comment: as long as 1748 is resistance, look for choppy price action with a bearish bias.

Trend: ST Bullish; MT Bullish

Key levels Comment

1775* Intraday resistance
1763** Intraday resistance
1748*** Intraday pivot point
1729.2 Last
1724* Intraday support
1709** Intraday support
1700** Intraday support
  • #16,256
  • Feb 9, 2012 2:09pm Feb 9, 2012 2:09pm
Looks like we may have a little range beginning.

Not bad for scalping if it holds for a session or two.

Top area- Resistance= 1750/5 (Tp around 1745-8 to get hit)
Bottom area - Support = 1725/30 ( Enter around 1728/30 if you are getting long.

Likewise if the range sticks flip the above,
Sell at 1750 area TP around 1730
I would use a tight stop if you are going to sell the trend short and long term is up.

You DON'T want to get caught short with no stop at 1750 if the price breaks out for a clean $20 USD!


Quoting Walt
Damn, we are back @ 173x... and I have a long open at 1749...

Any chance we go up again or is this Greece deal going to push Gold down?

Thx,

W
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,257
  • Feb 9, 2012 2:17pm Feb 9, 2012 2:17pm
Thanks,

Yes, even from a pure Numbers, standpoint the difference from forecast was still measly. Not enough to move the market..

As well as the fact this has been happening for the past year or two, one month is above forecast a bit and the talking heads make a big deal about it.

Then the next month it's down. There is no real job creation in the US. Trust me I live here in NY.

If anything I have heard of more cuts on the way!

(not sure where you are located, but if in the US I'm sure you know what I am getting at. )
Quoting Roncho
Nicely stated Xtrade. I even monitored the S&P index and there was no significant rally.
Anyways, I'm long @ 1726. Stop loss 1699 Take profit (Not set yet, I intend to take profit on 40% of my lots at 1793), then I'll watch where it heads from there.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,258
  • Feb 9, 2012 2:35pm Feb 9, 2012 2:35pm
http://ressim.net/b/out.php/i5485345_1-png
  • #16,259
  • Feb 9, 2012 2:35pm Feb 9, 2012 2:35pm
Quoting DubaiFX
Hello Guys i am .. Well That doesn't Matter,
i am on sell for atleast 1735 first target then maybe 1725 second.
have 2 open positons opened right now before 5 minutes at 1747
Lets See..
i dont trade gold much other then my own Account,
people are affraid of this Pair but if you can analyse and if you are good at fundamentals also then you will Find GOLD is the best way to make money fast i trade for short tern mostly 15min and 30 min chart.
and i mostly get what i want.
Thank You..

Pip.Sniper
Got My targets.
next trade will be soon.
Thanks.
Don't compare your Trades with Others
  • #16,260
  • Feb 9, 2012 2:59pm Feb 9, 2012 2:59pm
Quoting XTrade
Looks like we may have a little range beginning.

Not bad for scalping if it holds for a session or two.

Top area- Resistance= 1750/5 (Tp around 1745-8 to get hit)
Bottom area - Support = 1725/30 ( Enter around 1728/30 if you are getting long.

Likewise if the range sticks flip the above,
Sell at 1750 area TP around 1730
I would use a tight stop if you are going to sell the trend short and long term is up.

You DON'T want to get caught short with no stop at 1750 if the price breaks out for a clean $20 USD!
Thanks for the tips!
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