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

  • #18,101
  • Mar 28, 2012 12:11pm Mar 28, 2012 12:11pm
Quoting jimobiwan
they look the same to me.

i'll post a side by side tomorw. what time frame would be good to compare?
Weekly, Daily and H4 would be nice.
  • #18,102
  • Mar 28, 2012 1:49pm Mar 28, 2012 1:49pm


2:29 PM Gold closed with another sharp drop, as April futures dipped 1.6% to $1,657.90/oz. Goldman's bullish call notwithstanding, others wonder if gold prices have peaked. CPM Group sees increasing supply plus a bigger global pool of gold investors setting a floor under the market but without parabolic rallies. Matthew Lynn counters that gold could take another leg higher if big central banks start buying again
  • #18,103
  • Mar 28, 2012 2:41pm Mar 28, 2012 2:41pm
Quoting kill56


2:29 PM Gold closed with another sharp drop, as April futures dipped 1.6% to $1,657.90/oz. Goldman's bullish call notwithstanding, others wonder if gold prices have peaked. CPM Group sees increasing supply plus a bigger global pool of gold investors setting a floor under the market but without parabolic rallies....



I would not use CPM's publications even for toilet paper given their patent transparency - google "Jeffrey Christian 100 to 1" and make up your own mind about them.........



beeb

PS Could you please identify who or what you are quoting so we can check them out - thanks.....
  • #18,104
  • Mar 28, 2012 6:21pm Mar 28, 2012 6:21pm
Seen strong cases for bulls and bears. Here's one for the bears.

http://www.forexpros.com/analysis/an...ii%2520-116528
  • #18,105
  • Mar 28, 2012 7:36pm Mar 28, 2012 7:36pm
Quoting beeb
I would not use CPM's publications even for toilet paper given their patent transparency - google "Jeffrey Christian 100 to 1" and make up your own mind about them.........



beeb

PS Could you please identify who or what you are quoting so we can check them out - thanks.....

After I google the above...the link may come from,

Quote
http://seekingalpha.com/symbol/gld

breeze
  • #18,106
  • Mar 28, 2012 9:19pm Mar 28, 2012 9:19pm
kill56's post has links to the websites he is quoting.

Just click them.
  • #18,107
  • Edited 3:20am Mar 29, 2012 3:02am | Edited 3:20am
Before XTrade asks again - here's an update on the GC Daily previously posted.......

http://www.screencast.com/t/D6TdSOn2f6

As noted in #18146 the 1690-96 area was worth watching for resistance and the reaction is circled. Note how it has been resistance several times along the red outer quartile. There is also a potential grey SP (number 1) which could have been party to it. At the moment price looks to be in no man's land in relation to the red fork, but could be seeing grey SP support (number 2). Beneath that there is the grey LP around 1635.

The red downfork is still the more controlling IMHO......

beeb



EDIT There is some good stuff today in Harvey O's blog:

http://harveyorgan.blogspot.fr/

I think that if you want to trade the precious metals sucessfully (by which I mean more than scalping $10 or $20 here and there) you need to understand the markets and his blog is essential daily reading....
  • #18,108
  • Mar 29, 2012 3:24am Mar 29, 2012 3:24am
Quoting beeb
Before XTrade asks again - here's an update on the GC Daily previously posted.......

http://www.screencast.com/t/D6TdSOn2f6

As noted in #18146 the 1690-96 area was worth watching for resistance and the reaction is circled. Note how it has been resistance several times along the red outer quartile. There is also a potential grey SP (number 1) which could have been party to it. At the moment price looks to be in no man's land in relation to the red fork, but could be seeing grey SP support (number 2). Beneath that there is the grey...


Thank you for the update & recommendation, Mr. Beeb.
I can learn more on the beast.

breeze
  • #18,109
  • Mar 29, 2012 5:51am Mar 29, 2012 5:51am
GC 5 min from yesterday still showing good frequency

http://www.screencast.com/t/6TFBAKCGbtz7

beeb
  • #18,110
  • Mar 29, 2012 6:30am Mar 29, 2012 6:30am
This was emailed to me a few minutes ago from a coin dealer.

Take from it what you like

---

Was out all day yesterday and had computer troubles last night....

"
Gold News from Turkey and India Overshadows any “Slowdown” in China
The stock market and metals both suffered sinking spells in the middle of last week over fears of a new “slowdown” in China, but that must have been the fourth or fifth rumor of a Chinese slowdown in the last year – but China never really slows down. China is one of the most energetic economies in the history of man. Anyone who has visited China can see that. A Chinese slowdown is often to grow 7.5% per year instead of the usual 9% to 10%. China will likely keep growing and keep consuming metals for decades to come.

That’s why the news from Turkey and India may overshadow any fears of a slowdown in China. Late last week, The Wall Street Journal published two articles about gold. The first, on Thursday, March 22, was titled “Turkey Targets Gold Stashes.” The accompanying chart showed Turkish gold demand rising 80% in 2011 over 2010. The Istanbul Gold Refinery estimates that private citizens hold 5000 metric tons of gold, worth about $270 billion. That, in turn, led the cash-starved Turkish government to try to lure gold investors to move their gold into public banks. Incentives include interest-bearing gold deposit accounts.

The Journal also covered the Indian gold market in an article titled, “Indian Strike Weights on Gold Price: Buyers sit on their hands as sellers of the yellow metal close shop in protest of new levies.” The basic problem – as we described in last week’s Metals Report – involves a doubling in tax levies on Indian gold imports and an added 0.3% tax on gold jewelry sales. Most Indian gold traders say demand will pick up after the initial shock, but dealers are also likely to import more gold from Thailand, due to lower tariffs.

Last year, India and China dominated gold demand, but other nations are rising up to pick up the slack:


Right now, India and Turkey – the first and the fifth-place gold demand nations – are trying to take advantage of their citizens’ love for gold by taxing it (in India) or luring their gold into the banks, where future taxes or threats of recall (in Turkey) could result. In the end, this will likely cause more people to seek private ways to own gold, skirting the taxman and government regulators, whenever possible.
"
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,111
  • Mar 29, 2012 8:24am Mar 29, 2012 8:24am
Quoting XTrade
This was emailed to me a few minutes ago from a coin dealer.

Take from it what you like

---

Was out all day yesterday and had computer troubles last night....

"
Gold News from Turkey and India Overshadows any “Slowdown” in China
The stock market and metals both suffered sinking spells in the middle of last week over fears of a new “slowdown” in China, but that must have been the fourth or fifth rumor of a Chinese slowdown in the last year – but China never really slows down. China is one of the most energetic economies in the...
Thanks for the article. At least it boost me to buy gold on dip. With appropriate TP and SL of course
  • #18,112
  • Mar 29, 2012 8:30am Mar 29, 2012 8:30am
If market keeps on going like that, then we are going to see a close around $1650


Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 16 KB
  • #18,113
  • Edited 10:56am Mar 29, 2012 9:18am | Edited 10:56am
Just to quickly show how you could look to trade a 5 min fork here's the same GC as shown earlier:

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

Having seen another UP rejection but poss higher lows in the fork I drew the puce upfork. Took a long at the second LP touch and am already at b/e stops waiting to see if it breaks the blue UP

beeb

EDIT - this is a 5 min fork and is for scalps only...........
EDIT 2 - broke down - out at b/e - shows importance of stops
EDIT 3 - price breaking support or resistance can tell you as much about price as when it respects those levels. In this case price returned to the blue LP to within 50cents:
http://www.screencast.com/t/e6jR9GZqA1s
EDIT 4 - after an hour and a half and over 100 views of the charts not a single comment or word of thanks. Have taken the charts off line as quite frankly I can find better ways to spend my time. Good trading all.....
  • #18,114
  • Mar 29, 2012 10:59am Mar 29, 2012 10:59am
Is this a clear bounce? GBP rejecting lows. XAU, if this is it for lows, is making a higher low on the daily. A push past 1697 would make a higher high and be above the 18dma also. Lets see what the day brings.
I have no enemy; I make Incautiousness my Enemy.
  • #18,115
  • Mar 29, 2012 11:06am Mar 29, 2012 11:06am
I think I will trade only what I see, not paying attention to news and fundamentals.

Charts are telling me more dependable stories.

At this point fundamentals are noise.

I'll read forecasts, but gum is chewed, not swallowed.
  • #18,116
  • Mar 29, 2012 11:10am Mar 29, 2012 11:10am
Hi beeb, I tried to see your charts but links are invalid. Can you upload them again, please?

Thanks in advance.
  • #18,117
  • Mar 29, 2012 11:10am Mar 29, 2012 11:10am
Quoting jsr
Weekly, Daily and H4 would be nice.
as promised, here is a side by side comparison for weekly gold.

XAU is on the left, Front Month GOld FUtures is on the right.

Second chart is daily.

DMAs are 18, 45, 100, 200
Slow Sto and MACD shown

Does anyone see any advantage of monitoring G.GCC1 to anticipate XAU moves?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: weeklyy.jpg Size: 178 KB
Click to Enlarge Name: wee daiily.jpg Size: 176 KB
I have no enemy; I make Incautiousness my Enemy.
  • #18,118
  • Mar 29, 2012 11:13am Mar 29, 2012 11:13am
Quoting jimobiwan
as promised, here is a side by side comparison for weekly gold.

XAU is on the left, Front Month GOld FUtures is on the right.

Second chart is daily.

DMAs are 18, 45, 100, 200
Slow Sto and MACD shown

Does anyone see any advantage of monitoring G.GCC1 to anticipate XAU moves?

and the 4H for you
Attached Image (click to enlarge)
Click to Enlarge Name: wee 4h.jpg Size: 191 KB
I have no enemy; I make Incautiousness my Enemy.
  • #18,119
  • Mar 29, 2012 11:17am Mar 29, 2012 11:17am
Quoting jimobiwan
as promised, here is a side by side comparison for weekly gold.

XAU is on the left, Front Month GOld FUtures is on the right.

Second chart is daily.

DMAs are 18, 45, 100, 200
Slow Sto and MACD shown

Does anyone see any advantage of monitoring G.GCC1 to anticipate XAU moves?
Those are identical twins!

Is it possible to see volume for each one?
  • #18,120
  • Mar 29, 2012 11:23am Mar 29, 2012 11:23am
Quoting jsr
Those are identical twins!

Is it possible to see volume for each one?

notihing shows up on xau
Attached Image (click to enlarge)
Click to Enlarge Name: wee vol 4h.jpg Size: 183 KB
I have no enemy; I make Incautiousness my Enemy.
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