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

  • #18,321
  • Apr 8, 2012 5:35pm Apr 8, 2012 5:35pm
Above a small climbing interim support line shown in mychart... Looking for support in this area should the gap close.

The new demo is up and running and I am going to open and close a super small trade win or lose just so we can start looking at the specs!!!!

XT!
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,322
  • Apr 8, 2012 5:42pm Apr 8, 2012 5:42pm
But watch PA and see if she dips further.

Lots of bank holidays make for erratic price movements. Trade safe.

When in doubt stay OUT!
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,323
  • Apr 8, 2012 5:45pm Apr 8, 2012 5:45pm
On silver longs I would be targeting a test of the range top @ around 33.00 USD price point.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,324
  • Apr 8, 2012 6:20pm Apr 8, 2012 6:20pm
Quoting XTrade
On silver longs I would be targeting a test of the range top @ around 33.00 USD price point.
You long the metals due to the gaps up?
Trade As A Sniper
  • #18,325
  • Apr 8, 2012 6:48pm Apr 8, 2012 6:48pm
Quoting beeb
http://www.telegraph.co.uk/finance/c...premature.html
Thanks, the writer is spot on.

But as a trader, in the here and now, I believe what Gartman believes:

“The game has changed,” says Dennis Gartman, apostle of the long rally who now scornfully tells gold bugs that he is just a “mercenary”, not a member of their cult. “They genuflect in gold’s direction; we merely acknowledge that it exists as a trading vehicle and nothing more. There are times to be bullish, and times to be bearish … to every season, as Ecclesiastes tells us.”
  • #18,326
  • Apr 8, 2012 7:07pm Apr 8, 2012 7:07pm
Ecclesiastes 3:

1 "There is an appointed time for everything. And there is a time for every event under heaven

6 A time to ... keep, and a time to throw away.
I have no enemy; I make Incautiousness my Enemy.
  • #18,327
  • Apr 8, 2012 8:49pm Apr 8, 2012 8:49pm
Quoting beeb
OK - Let me try and explain it to you briefly but please note these forks are only shown to distinguish different types and are not meant to be accurate re price.......

A fork goes from alternate pivots starting from a swing high (or low). It goes high-low-high or low-high-low.

Chart 1 shows an Andrews fork (named after the person who developed it) with A being the swing high, B the next swing low and C the next swing high....

Chart 2 shows a Schiff or Unmodified Schiff (again named after the developer) where the point of origin is moved 50%...
Thxs for the clear explanation beeb.
Life's a bitch....so be a dog and cover it!
  • #18,328
  • Apr 8, 2012 10:19pm Apr 8, 2012 10:19pm
China to maintain golden focus

Quote
http://www.theaustralian.com.au/busi...-1226321636318


breeze
  • #18,329
  • Apr 8, 2012 10:21pm Apr 8, 2012 10:21pm
watching gold verry good this days looking to buy gold for move to 2500$ around here.

Reasons i see gold as a hope thing not so much qe related alweel it will help offcourse. With more unrest on the horizon people central banks buy more gold also some seasonals regarding india marriages etc comming so more demand etc.

Another thing i saw some months ago like 82% analalyst bullis on the metal. Way to much lol. Now there are becoming more bearish. also retail stepping back from gold got hurted couple of times pretty bad on good sell offs.

I think i cost average and buy small pieces on drops with stops below the 1600 with some space. Maybe split up in to 5 pieces with risk 2% tottal targets wanna keep them open.

if close above the 1700 mark start scaling in with increments of 1% and stoploss of 1.7 x the 14 daily atr

what ya guys think?
  • #18,330
  • Apr 9, 2012 12:26am Apr 9, 2012 12:26am
Very informative post by UBS on commodities and emerging markets here for those that are interested.
  • #18,331
  • Edited 1:10am Apr 9, 2012 12:50am | Edited 1:10am
Quoting split_unit
Very informative post by UBS on commodities and emerging markets here for those that are interested.
Back to center of gravity and bubbles burst?


breeze
  • #18,332
  • Apr 9, 2012 1:37am Apr 9, 2012 1:37am
Quoting fxbreeze
Back to center of gravity and bubbles burst?


breeze
I didnt get ur question
  • #18,333
  • Edited 2:44am Apr 9, 2012 2:26am | Edited 2:44am
Quoting split_unit
I didnt get ur question
Hi split_unit,

The center of gravity I mentioned refers to the economy that naturally function best when the currency’s value is near it.

For details, it can be found on pg. 91 of Gold: The Once and Future Money. My apology as I am not good with explanation.


breeze
  • #18,334
  • Apr 9, 2012 2:44am Apr 9, 2012 2:44am
Quoting fxbreeze
Hi split_unit,

The center of gravity I mentioned refers to the economy that naturally function best when the currency’s value is near it.

For details, it can be found on pg. 91 of Gold: The Once and Future Money.


breeze
I still dont get your question. I understood what you meant by center of gravity.
  • #18,335
  • Apr 9, 2012 3:11am Apr 9, 2012 3:11am
Quoting split_unit
I still dont get your question. I understood what you meant by center of gravity.
It is okay, split_unit. Ignore what I have written earlier will do.


breeze
  • #18,336
  • Apr 9, 2012 9:48am Apr 9, 2012 9:48am
Quoting jimobiwan
http://www.marketwatch.com/story/gol...dia-2012-04-07

NEW YORK (MarketWatch) — Gold jewelers in India returned to work Saturday, a day after the nation’s finance minister promised to consider getting rid of newly imposed taxes on the multi-billion-dollar industry, media reports said. ... The strike came to an end ahead of one of the nation’s largest Hindu gold-buying festivals later in the month.

Gold is up, about 1%, Silver is not, this news had some weight
  • #18,337
  • Apr 9, 2012 10:38am Apr 9, 2012 10:38am
This is daily, so far it seems support became resistance, so price is in range and I just can't see bullishness.

¿1633-1648?

I want to see a break, no matter which direction.

I think downside is more likely, if fundamentals are kept aside.
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  • #18,338
  • Apr 9, 2012 11:15am Apr 9, 2012 11:15am
currently watching to see if cable, Euro , and swissy can take out the range tops and bottoms. long and short accordingly.

Long Kiwi and Aussie for days and finally a break on thin trading!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,339
  • Apr 9, 2012 11:33am Apr 9, 2012 11:33am
Yes! Looks like they will advance to new highs, hopefully making support out of the broken range tops...

gold getting bid up on H4 bar, needs to take out 1650 in immediate.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,340
  • Apr 9, 2012 11:36am Apr 9, 2012 11:36am
The Federal Reserve chief has a big speech to deliver late Monday, and the subject of lackluster payrolls growth might just come up for discussion.
I have no enemy; I make Incautiousness my Enemy.
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