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

  • #17,181
  • Mar 7, 2012 2:12pm Mar 7, 2012 2:12pm
Quoting beeb
Unless you're just scalping, IMHO this is a must-read........

http://kingworldnews.com/kingworldne...Yesterday.html

beeb
thank you for sharing! I'm not surprised, physical gold is by far the best investment for the moment. Actually I have a very bullish count for gold. It's just hard to believe that in May she will be kissing 2000.
Lehman Sisters Wouldn't Have Failed
  • #17,182
  • Mar 7, 2012 2:50pm Mar 7, 2012 2:50pm
That would seem to be a breakout.


If you enter a trade on a weekly let's say using gold for example and the price surpasses the 10 Week SMA you have gained an almost 60 USD move.

Thus, why not lock in half your profit BE + 30USD,
or place a stop below a broken support.

I would imagine, and will look that if you have a similar move in a day trading currencies it would equate to something to the tune of 120 pips.

At which point in day trading would be an optimal exit.

Quoting Sreym33
regarding BE, my experience is that if price moves up more than the 10 wk avg range, move your stop up to BE or BE +1... just my rule of thumb.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,183
  • Mar 7, 2012 2:54pm Mar 7, 2012 2:54pm
My sentiments exactly!
Quoting XTrade
I share your bias, I am just thinking in case of another leg down.




I don't believe it will have the juice to go much further than that.




Hell, at 1600 per ozt down from almost 2k is a nice discount.




The buyers will be back and when they come this channel is going to blow out again.
Quoting beeb
Unless you're just scalping, IMHO this is a must-read........

http://kingworldnews.com/kingworldne...Yesterday.html

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,184
  • Mar 7, 2012 3:03pm Mar 7, 2012 3:03pm
When trading you want to ideally MINIMIZE risk exposure.

You cannot, unless maybe trading on Reuters 3000 for a bank or hedge fund place an order and have your stop at the spread. Unlikely even then.

Thus, Every time you open up a trade you are taking on more risk and any trade MOVED t BE starts out with a stop loss or no stop.

So my point is by moving trades to BE all the time and getting squashed most of the time you then have to go and place yet another trade exposing yourself to the market at what is most likely going to be a less favorable price than you had before.

The "what ifs" of this argument are endless. What if you had a 30 pip SL and the trade needed 20 pips breathing room before breaking out 120 pips?

If your stop is moved to BE on every trade you are OUT scout.

Quoting bumapatria
oh yeah forgot to mention sivler levels...
33 is current Venus and Pluto support... and 36 is the next resistance.
Attachment
so any longs i think that is the next target and "watch level" as well.




hey X about "BE" it goes back to the topic of the trading memes of "not giving substantial profit to become substantial loss"

lelts say u got a $100 USD long on Gold btu ur target is around $150 USD (nice one X! ) and then u dont use a BE stop or a +1 or similar techniques. what if the market spikes back...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,185
  • Edited 3:19pm Mar 7, 2012 3:05pm | Edited 3:19pm
Im seeing bullish divergence on the H1 on silver. Maybe tomorrow or even friday, we will see a move up.
  • #17,186
  • Mar 7, 2012 3:26pm Mar 7, 2012 3:26pm
Currencies trade something like $3-4 trillion dollars a day. The majority, something like 3/4, trade interbank (closed to us) spot/forward/swift market.

No doubt there is manipulation but nothing, including Gold, is held in place before market forces overwhelm whatever and whomever is doing it.

My opinion, no proof but history. Unlike the conspiracy folks.

Think about it. Who has more of a vested interest in this. The ones "controlling the price" or the ones who are long and want it higher, much higher.
  • #17,187
  • Mar 7, 2012 3:55pm Mar 7, 2012 3:55pm
Quoting beeb
Suggest spending some time listening to this:

http://kingworldnews.com/kingworldne...ld_Market.html

SI Daily:

http://www.screencast.com/t/G1GFQJcNvUJx

Closer:

http://www.screencast.com/t/oflnKrDs8cYU

GC Daily:

http://www.screencast.com/t/x79bzHhqXIJY

beeb
beeb is back!
  • #17,188
  • Mar 7, 2012 4:38pm Mar 7, 2012 4:38pm
Quoting highlander2
beeb is back!
Hi Highlander hope you're well

Here's an updated SI daily:

http://www.screencast.com/t/Xv8IJq1Kt

which could have the beginnings of a very bullish move. Lots of "ifs and buts" but I'm noting today's close just above the green LP. That had been resistance and then support before it got "punctured" yesterday. If price can gain traction above that green LP and it becomes support again then I think we could hope for a bullish move. The obvious resistance would then be the downsloping red UP and possibly the SP above that from the breach last week. What I would really like to see for the bullish case is support developing on top of the red UP. However we're not out of the woods yet and Friday does have all the fun of NFP....

And here's a little 5 min GC - a bit narrower than I tend to like - that has been paying the bills today:

http://www.screencast.com/t/ybPUY8dpTV

DYODD

beeb
  • #17,189
  • Mar 7, 2012 4:43pm Mar 7, 2012 4:43pm
Quoting XTrade
Honestly this whole Greece thing is a never ending saga. Eventually Germany will bend for the greater good of the Euro and it should resolve itself.

I am beginning to feel it's relation to gold is waning.
It's like the boy who cried wolf except for six months.

Then again, if Greece really fvcks up and get's the boot who knows. I highly doubt the likelihood of that happening.
X, I adjusted wave counts for xaueur and xauusd. Both are very bullish. I don't have a good alternate count for XAUEUR, but XAUUSD count is less reliable. The later will be invalid if 1694 is not broken within 34 hours. Of course, 1660 level should not be violated.
cheers!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: xauusd_lt.png Size: 24 KB
Click to Enlarge Name: xaueur_lt.png Size: 27 KB
Lehman Sisters Wouldn't Have Failed
  • #17,190
  • Mar 7, 2012 6:33pm Mar 7, 2012 6:33pm
Quoting highlander2
beeb is back!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,191
  • Mar 7, 2012 6:57pm Mar 7, 2012 6:57pm
Interesting, one of my brokers has just lowered margins on gold, silver & other metals from 7% to 4% "due to recent changes in market volatility" !!

Funny, that is exactly the same line they used when they increased margins a while back, and I think things are more volatile now than they were then!
  • #17,192
  • Mar 7, 2012 8:52pm Mar 7, 2012 8:52pm
got a long position at 1677, target is 1720
  • #17,193
  • Mar 7, 2012 8:54pm Mar 7, 2012 8:54pm
Don't feel so bad I have no leverage which = full margin req depending on size.

This has caused me to become more active again in the physical market.

I just ordered 20 copper rounds to add to my stash, they were on sale.
And when I get the urge to buy physical but have no plan I buy copper.
I also hoard US pre 1982 copper pennies.

You'd be surprised I tallied it up with a copper dealer and the entire stash is several hundred dollars...

Quoting CathS
Interesting, one of my brokers has just lowered margins on gold, silver & other metals from 7% to 4% "due to recent changes in market volatility" !!

Funny, that is exactly the same line they used when they increased margins a while back, and I think things are more volatile now than they were then!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,194
  • Mar 7, 2012 8:56pm Mar 7, 2012 8:56pm
Looking towards 2100! Interesting analysis. If you could give a brief description of the way neowave works I would be interested as I am not very familiar.

Looks like a form of EW.
Quoting Blythe
X, I adjusted wave counts for xaueur and xauusd. Both are very bullish. I don't have a good alternate count for XAUEUR, but XAUUSD count is less reliable. The later will be invalid if 1694 is not broken within 34 hours. Of course, 1660 level should not be violated.
cheers!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,195
  • Mar 7, 2012 8:58pm Mar 7, 2012 8:58pm
Sorry X I was not clear. The 10 week avg range would be the absolute ranges, day to day, averaged over 10 weeks which right now is $12.

for currencies it would be according to the following:
http://www.forexpros.com/forex-tools...ity-calculator

If I was at the top of the weekly channel and caught a 100 pip downward move on the EURAUD, I would move my stop. If that was off a 4hr, I would TP.

Quoting Sreym33
regarding BE, my experience is that if price moves up more than the 10 wk avg range, move your stop up to BE or BE +1... just my rule of thumb.
Quoting XTrade
That would seem to be a breakout....
At which point in day trading would be an optimal exit.
  • #17,196
  • Mar 7, 2012 9:02pm Mar 7, 2012 9:02pm
Quoting CathS
...... and I think things are more volatile now than they were then!
Put a standard ATR (length 14) indicator on your chart and you will plainly see this is not the case.

In Sept/Oct last year ranges were between low $50's to mid $60's. Since it has been a steady decline and now ranging between mid to high $20's.
  • #17,197
  • Mar 7, 2012 9:11pm Mar 7, 2012 9:11pm
Looks like we are entering that good old sideways stepping stone pattern....


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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,198
  • Mar 7, 2012 9:13pm Mar 7, 2012 9:13pm
Correct. and now about a 10 USD range

We'll get up to those 50 USD swings again, don't worry guys n gals
Quoting SunTrader
Put a standard ATR (length 14) indicator on your chart and you will plainly see this is not the case.

In Sept/Oct last year ranges were between low $50's to mid $60's. Since it has been a steady decline and now ranging between mid to high $20's.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,199
  • Mar 7, 2012 9:25pm Mar 7, 2012 9:25pm
If you are wondering why I hoard copper pennies and collect numismatic Gold and Silver coins take a look at this AWESOME calculator

It gives you PM coin values and BASE metal coin values.

www.coinflation.com
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,200
  • Mar 7, 2012 9:35pm Mar 7, 2012 9:35pm
Quoting lilpip
bounce up from 1670 and 32.76 noted, lets see if NY gives us a bounce up at 1687.
one things is for certain , if we are going north we have to be trading on the other side of 1687.
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