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

  • #17,601
  • Mar 14, 2012 1:05am Mar 14, 2012 1:05am
Quoting XTrade
Is a pretty major S/R level and pivot for the past several months now, at least Oct 11.

Channel bottom (support) is coming in at appx 1650/45 just below current spot price. * Edit: While typing spot rose appx 15 USD to 1675)

Dip line or (reaction low) would be appx -- not time adjusted "right now right below at 1555) interestingly enough exactly where the DTL from the 1920 high meets the uptrend lower channel line. Time adjusted I would add 50 bucks.

In any case. The chart looks a bit indecisive and should offer up a break, likely north,...

It is very strange to see you keep sticking with buyers since since 1700 First your support was 1680 then it changed to 1660 and now deeper.

I see a bounce from 1620 however, if you are with bull side it is not a good idea if you stick with buyers even the market is clearly showing the signs of recovery and dont forget GOLD opened up GAP at 1566 area.

The reality is Gold has broken your support area and instead of giving calls to fellow trader you must wait and see what happening with market.

THanks
  • #17,602
  • Mar 14, 2012 1:09am Mar 14, 2012 1:09am
Quoting SunTrader
Say hello to my little ...... ignore list.

Bold red font is SHOUTING.

Beside you have yet to back up anything you've said.

If you feel copying good others trade without reason then you go ahead i am not forcing you. If you don't have big heart to listen any good suggestion from other traders .you will see gold below 1620 I am telling you about bounce from 1620 not a reversal ok.

So keep buying and I am keep selling.

meet you at 1620

Cheers
  • #17,603
  • Mar 14, 2012 1:15am Mar 14, 2012 1:15am
Quoting forexfacts
If you see gold at $2000 like me, why wouldn't you get in at $1600 - 1625 - 1650 ?
simply because I'm not convinced it will reach $2000 at that time

I guess Bernanke will decide where gold will head for the the rest of this month
  • #17,604
  • Mar 14, 2012 1:44am Mar 14, 2012 1:44am
Quoting Blythe
She needs to hold 1660 for another 22 hours
1662 is broken by exactly $1, how does your count change now?

to study neowave, did you just read the 'master elliott waves' book, or did you use any other resources? thx.
  • #17,605
  • Mar 14, 2012 2:15am Mar 14, 2012 2:15am
Quoting grandia
simply because I'm not convinced it will reach $2000 at that time

I guess Bernanke will decide where gold will head for the the rest of this month
It will take some months, not one month.

And about Bernanke, if his talks keep gold down then that is a plus for the Chinese, the Indians and others, to collect more physical at lower prices.
  • #17,606
  • Mar 14, 2012 5:07am Mar 14, 2012 5:07am
selling gold or stay neutral because it going to $1300
I bet my balls!
  • #17,607
  • Mar 14, 2012 5:09am Mar 14, 2012 5:09am
Quoting goshko147
selling gold or stay neutral because it going to $1300
I bet my balls!

not sure why, but i have gone the opposite way. bought at 1660.

a gold trade taken after a long while.....
  • #17,608
  • Mar 14, 2012 5:09am Mar 14, 2012 5:09am
one for the road
Attached Image (click to enlarge)
Click to Enlarge Name: 4h gold.gif Size: 22 KB
  • #17,609
  • Mar 14, 2012 5:15am Mar 14, 2012 5:15am
Quoting goshko147
selling gold or stay neutral because it going to $1300
I bet my balls!
i hope you could post your analysis if you have one. Your balls is not enough to support your claims
  • #17,610
  • Mar 14, 2012 5:22am Mar 14, 2012 5:22am
levels to watch we did break strong support @1662 a close below will take it deep south might be wrong
Attached Image (click to enlarge)
Click to Enlarge Name: 4h gold.gif Size: 28 KB
  • #17,611
  • Mar 14, 2012 5:34am Mar 14, 2012 5:34am
guys are u waiting for some body to tell u go short or long ,

look at u dam chart trade what u see other wise u will regret
  • #17,612
  • Mar 14, 2012 5:58am Mar 14, 2012 5:58am
the M S1 support on the chart I posted previously has been breached

off we go to the next strong support at 1620-1625ish
  • #17,613
  • Mar 14, 2012 6:08am Mar 14, 2012 6:08am
I am still short, but thinking about closing it, dont want to get berneked.
  • #17,614
  • Mar 14, 2012 6:09am Mar 14, 2012 6:09am
Am out until Bernanke has spoken. Always means trouble!
  • #17,615
  • Mar 14, 2012 6:09am Mar 14, 2012 6:09am
Quoting kill56
guys are u waiting for some body to tell u go short or long ,

look at u dam chart trade what u see other wise u will regret
I was hoping someone can help me with the query,
Quote
http://www.forexfactory.com/showthre...02#post5473002

breeze
  • #17,616
  • Mar 14, 2012 6:18am Mar 14, 2012 6:18am
1660 level was broken all of a sudden. I decided not going long yet.

I have a reason to be happy. I begun trading scalping and closing my trades the same day. Leaving an open trade was a nigthmare to me.

This short was my first trade I decided to let run until SL or TP was hit.

I called it a dummy trade, not for exposing only cents. The dummy thing for me was the decision to avoid changing anything no matter what. I hedged it in case of loss.

With less than 2% of exposition I made more than 10% of profit.

my SL was 7.67$ and mi TP 50.33$ it was closed with a profit 52.41$

More than 6 to 1.

Sorry if I am being arrogant. It was my first bold attempt to trade this way and I learned a lot from this experience. So I'm really happy.

Now I know that I can wait for a good entry point, even my entry this time was poor.
Now I know that asking and learning from others so I can think by myself was a good choice.


Sorry for this. I just wanted to share that reading everyone's point of view has been very helpful.
  • #17,617
  • Mar 14, 2012 6:19am Mar 14, 2012 6:19am
THIS means nothing please refrain from making wild punts with no backup and in this case no reasoning.

I suppose some people have been getting frontal lobotomies performed before visiting this thread lately.

PLEASE READ POST ONE
Quoting goshko147
price gold $1300..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,618
  • Mar 14, 2012 6:39am Mar 14, 2012 6:39am
Unless you are accounting for the loss of the hedge your figures are incorrect.

It is doubtful that you exited the hedge at BE and then went on to take full profit.

Nevertheless Hedging against the same pair, which I do not recommend in most cases, skews the back office price from what I have asked brokers especially MT4 br0kers.

If you truly left everything untouched there would be NO HEDGE.

Hedging has a purpose and as many retail and noob trader's think it is to reduce loss of an ALREADY LOSING position when in fact it
A. Speculatively should be done in the exact opposite manner and
B. They will somehow make more money by hedging than not, when in fact all you are doing is locking in a part of your loss.


A hedge would be better performed by using a similar pair or financial instrument, not the same pair.
Quoting jsr
1660 level was broken all of a sudden. I decided not going long yet.

I have a reason to be happy. I begun trading scalping and closing my trades the same day. Leaving an open trade was a nigthmare to me.

This short was my first trade I decided to let run until SL or TP was hit.

I called it a dummy trade, not for exposing only cents. The dummy thing for me was the decision to avoid changing anything no matter what. I hedged it in case of loss.

With less than 2% of exposition I made more than 10% of profit.

my SL was 7.67$ and mi TP...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,619
  • Mar 14, 2012 6:45am Mar 14, 2012 6:45am
I am expecting a correction towards 1685 then welcome 1610
  • #17,620
  • Mar 14, 2012 6:48am Mar 14, 2012 6:48am
A note to all budding traders.
EXAMPLE ONE:
The other reason for hedging is for large international corporations and governments, farmers and the like to protect a massive loss on an international purchase.

Say I have to buy 1000 Mercedes Benz in Euros (I have USD) and pay the shipping in Euros
However I am uncertain that in a year where the price of the Euro will be
so, if the Euro rises when it comes time to pay (unless there is a pre arranged price) I am out a sizeable amount more money than I would have been if I had not hedged. Say your financial adviser thinks it will rise.

Thus, I go to the FX INTERBANK market, the real foreign exchange mkt not a retail mt4 platform) and I sell the USDX, this way if the Euro rises I make money on the falling USDX. If the Euro falls and it is time to pay the USDX sell will be negative as well yet I will have basically broken even due to the fact of the lower Euro even if I have to pay on the loss.

If I am doing this and want to assume risk, I will not only not hedge but I may pre purchase the Euro's in an acceptable price using FX futures or cash market or I will additionally buy more Euros, so when it comes time to pay the Euro is higher, yet I also have made a profit on my Euro long during the last year.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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