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

  • #16,961
  • Mar 1, 2012 5:01am Mar 1, 2012 5:01am
we must wait,and look at the market,what he go.
  • #16,962
  • Edited 6:08am Mar 1, 2012 5:38am | Edited 6:08am
Yesterday I was stopped out... twice, and then I couldn't trade anymore because of intermittent internet connection. Maybe it was for the best.

First time, when price went down 9,50$, I managed to go long @ 1782 TP 1795 SL 1775. Nice! I saw price rejection at resistance, but I said to myself "Bernanke will do the job and price will raise... Take it eeeaaasyyyy!" Yeah, right!

Someone said "Trade what you see, not what you think/believe/expect"

Well, I didn't.

And I can't say I didn't notice it.

Quoting nim1984
sold all 3 positions(entered @ 67,73,77) @ 1783.5. target was 1794 but didn't really like the recent price action as we saw resistance at 1786, so got out.
I saw it too, but I believed Bernanke was going to do the job.

Second time, long @ 1770 TP 1800 SL 1760. Good RR!. Stopped out just like that!

After internet issues, I could finally go long @ 1697 TP 1724, just below daily pivot. Then I went to sleep. I have to say it worked out very nicely for me. I recovered my losses, and didn't trade for revenge.


fxbreeze, I'm a noob, and I'm still learning basics, so I'm not a good example to follow.
I just make a lot of noise because I express my thoughts out loud so I can be corrected.
  • #16,963
  • Mar 1, 2012 5:58am Mar 1, 2012 5:58am
Quoting jsr

fxbreeze, I'm a noob, and I'm still learning basics, so I'm not a good example to follow.
I just make a lot of noise because I express my thoughts out loud so I can be corrected.
That's the way to learn =) Shows a lot of humility if you are willing to be corrected. I'm a novice myself
  • #16,964
  • Edited 7:28am Mar 1, 2012 6:04am | Edited 7:28am
Quoting jsr
Yesterday I was stopped out... twice, and then I couldn't trade anymore because of intermittent internet connection. Maybe it was for the best.

First time, when price went down 9,50$, I managed to go long @ 1782 TP 1795 SL 1775. Nice! I saw price rejection at resistance, but I said to myself "Bernanke will do the job and price will raise... Take it eeeaaasyyyy!" Yeah, right!

Someone said "Trade what you see, not what you think/believe/expect"

Well, I didn't.

And I can't say I didn't notice it.



I saw it too, but I believed...

Mr. Jsr,

I understand. Well, it took numerous falls, bruises to learn the business.

Trade safe.


breeze
  • #16,965
  • Mar 1, 2012 6:39am Mar 1, 2012 6:39am
Quoting stevebalmmer
we must wait,and look at the market,what he go.
she doesn't move fast enough to confirm the end of triangle
Lehman Sisters Wouldn't Have Failed
  • #16,966
  • Mar 1, 2012 7:18am Mar 1, 2012 7:18am
http://www.forexfactory.com/showthre...68#post5429868

maybe i add here
Attached Image (click to enlarge)
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  • #16,967
  • Mar 1, 2012 7:23am Mar 1, 2012 7:23am
triangle broke?

I think we should wait for the hourly candle
  • #16,968
  • Mar 1, 2012 7:56am Mar 1, 2012 7:56am
Quoting AdSCFT
triangle broke?

I think we should wait for the hourly candle
It's not a thrust out of triangle. but we should test/brake yesterday's low by 11.30 am EST. only then it may be a good chance to buy
Lehman Sisters Wouldn't Have Failed
  • #16,969
  • Mar 1, 2012 8:06am Mar 1, 2012 8:06am
Silver needs to drop further, along with gold, silver more, gold less.
The price holds little charm at the moment, specially of Silver.
  • #16,970
  • Mar 1, 2012 8:07am Mar 1, 2012 8:07am
Found that this drop from 1790s completed a channel. (in red)

Weeks ago i read somewhere that range 1650-1900 is expected for first 6 months of the year.

In fact many analist are expecting price to go south today.

FXCM call is this:

Quote
Our Preference: SHORT positions below 1732 with 1682 & 1657 in sight.
Comment: the RSI is capped by a declining trend line.
Trend: ST Bullish; MT Bullish
Attached Image (click to enlarge)
Click to Enlarge Name: XAUW-20120301.png Size: 56 KB
  • #16,971
  • Mar 1, 2012 8:20am Mar 1, 2012 8:20am
Quoting jsr
Found that this drop from 1790s completed a channel. (in red)

Weeks ago i read somewhere that range 1650-1900 is expected for first 6 months of the year.

In fact many analist are expecting price to go south today.

FXCM call is this:
Don't trust those call so easily.

If can be trusted, anyone can take their call and be rich, and why you are here.

Analyse the chart.

We are here to learn.

No mean to be rude.

breeze
  • #16,972
  • Mar 1, 2012 8:22am Mar 1, 2012 8:22am
interesting article:

http://www.zerohedge.com/news/gold-a...ops+to+zero%29
  • #16,973
  • Mar 1, 2012 8:41am Mar 1, 2012 8:41am
That's ok, breeze.

In fact, I'm not trading yet.

I'm waiting. Need to see what will happen.

btw... If Bernanke is going to speak, I won't bet again.

http://www.forexfactory.com/calendar...s_closed=42517

10:00amUSDFed Chairman Bernanke Testifies
10:00amUSDISM Manufacturing PMI
  • #16,974
  • Mar 1, 2012 9:11am Mar 1, 2012 9:11am
Quoting fuse
Hi everyone, I've opened a couple of short positions from 1,720.83 SL 1,730.00 1st Target 1,706.50 and 2nd Target 1,680.00. Price seems to be finding some resistance off daily Pivot and 38.2 Fib. Will see how this goes. Chart H4
What did you base those decisions on fuse? fibonacci retracement?
Life's a bitch....so be a dog and cover it!
  • #16,975
  • Mar 1, 2012 9:53am Mar 1, 2012 9:53am
war zone above the 1700 , 1726 did hold for now above 38 insight ,

we do have the MPP and ema200 below the 26 and they did fight back

mode no break no shake

oh we did retrace to 38.2 fib on the daily move and 26 at it
Attached Image (click to enlarge)
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  • #16,976
  • Mar 1, 2012 10:29am Mar 1, 2012 10:29am
Quoting kill56
war zone above the 1700 , 1726 did hold for now above 38 insight ,

we do have the MPP and ema200 below the 26 and they did fight back

mode no break no shake

oh we did retrace to 38.2 fib on the daily move and 26 at it
kill56,

As far I can see from H4 chart, it may not bypass 1725 zone.

Food for thought: If buyers exhausted and sellers drown them, we may see 1680 zone.

I will just sit sideline, and watch.

Thank you.

breeze
  • #16,977
  • Mar 1, 2012 10:49am Mar 1, 2012 10:49am
Divergence !!!
Attached Image (click to enlarge)
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  • #16,978
  • Mar 1, 2012 10:57am Mar 1, 2012 10:57am
Quoting dogbreath
What did you base those decisions on fuse? fibonacci retracement?
Yep fib retrace, pivot, the candlesticks etc. I have a system that I use to get me into trades. My first target has been hit at 1,706.50. But since then price has retraced quite alot all the way back to daily pivot. I'm still holding this trade with SL at 1,730.00, but looking at a current chart, price could easily break above daily pivot and would then take my SL out. I will wait and see. Thanks for asking
  • #16,979
  • Mar 1, 2012 11:03am Mar 1, 2012 11:03am
Quoting fuse
Yep fib retrace, pivot, the candlesticks etc. I have a system that I use to get me into trades. My first target has been hit at 1,706.50. But since then price has retraced quite alot all the way back to daily pivot. I'm still holding this trade with SL at 1,730.00, but looking at a current chart, price could easily break above daily pivot and would then take my SL out. I will wait and see. Thanks for asking
Can you share it?
  • #16,980
  • Mar 1, 2012 11:18am Mar 1, 2012 11:18am
Quoting jsr
Can you share it?
It is in your MT4 platform. Free of charge.

breeze
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