XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 924 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD, Silver/USD

Similar Threads

Gold futures & XAU 78 replies

GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies

Daytrade - XAU/USD & XAG/USD 14 replies

XAU/JPY & XAG/JPY 13 replies

Successful XAU/USD traders 7 replies

Attachments: XAU/USD & XAG/USD - Gold & Silver Traders Thread
Exit Attachments

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

  • #18,461
  • Apr 16, 2012 4:50am Apr 16, 2012 4:50am
Quoting Muntu
Looks like a better vehicle to trade gold, isn't it ?
I don't trade neither the GLD nor the XAU/USD. I just watch them as an overall macro indication, GLD is very close to the spot price and is in the equity market universe that I trade. On that note, I do trade gold/silver mining stocks along with other metal stocks.
  • #18,462
  • Apr 16, 2012 4:52am Apr 16, 2012 4:52am
Quoting split_unit
You are correct to say that. The daily 200 SMA is a significant block to the upside, if its cleared the move to the upside should continue. The importance of the 200 SMA is mainly due to the attention big traders and quantitative algorithm models give it. That along with the fact that everyone is watching makes it self-enforcing.
Perhaps, yes, perhaps no because of the downtrend. More recently the break thorugh the 200mda was a fakey bull.
Attached Image (click to enlarge)
Click to Enlarge Name: gold16apr.png Size: 57 KB
  • #18,463
  • Apr 16, 2012 5:05am Apr 16, 2012 5:05am
Quoting Euroscum
I would say with the Spain issues this week, that could drive the dollar up and gold down.

If the ECB come some "solution" for Spain that will be euro/gold positive and we will see some increases.

http://www.forexpros.com/analysis/si...slammed-120158

I find this a rather compelling case to be cautious of longs now from a technical perspective.
So fundamentally and technically metals are going down?
  • #18,464
  • Apr 16, 2012 5:08am Apr 16, 2012 5:08am
Quoting mbtrader
The Front..........
Did you read actually our previous posts?

I am well aware of the front month being the driver - it is why I listed the volumes. But I wasn't looking for a lesson on MA's. I was questioning why someone uses a DMA with a length of 18 or whatever number, but in any case not 200.

Also whether or not (some) big traders use something matters little to me. If I win or lose it will be because of what I use. I get the credit or I get the blame. Not some big trader/institution.
  • #18,465
  • Apr 16, 2012 5:18am Apr 16, 2012 5:18am
Quoting forexfacts
So fundamentally and technically metals are going down?
I claim to know nothing and I am no guru but on the larger time frames it still looks that way.

With regards to fundis dollar strength usually means weaker gold. If spain gets sorted out that will be dollar negative. These things change all the time.


I usally trade silver and in the last month it has been in that range of today's low to 33 ish. So my bias today would be a long trade, but as I missed entry this morning I am doing nothing for now. I would put a long order on for 31.20 if we go down again.
  • #18,466
  • Apr 16, 2012 5:28am Apr 16, 2012 5:28am
Quoting Euroscum
I claim to know nothing and I am no guru but on the larger time frames it still looks that way.

With regards to fundis dollar strength usually means weaker gold. If spain gets sorted out that will be dollar negative. These things change all the time.


I usally trade silver and in the last month it has been in that range of today's low to 33 ish. So my bias today would be a long trade, but as I missed entry this morning I am doing nothing for now. I would put a long order on for 31.20 if we go down again.

ok, Thanks for your input

To me, the present prices are attractive, they just need to go a little down, then we may see straight lines going up, but then again i can be completely wrong
  • #18,467
  • Apr 16, 2012 5:40am Apr 16, 2012 5:40am
Quoting Euroscum
Perhaps, yes, perhaps no because of the downtrend. More recently the break thorugh the 200mda was a fakey bull.
I was referring to a potential death cross in the post and on the overall importance of the 200 SMA. Nothing is certain in this business.
  • #18,468
  • Apr 16, 2012 4:24pm Apr 16, 2012 4:24pm
So, what's going on? EUR/USD went down and then up, gold went down and then flat... and people just went silent and then still silent.

  • #18,469
  • Apr 17, 2012 2:07am Apr 17, 2012 2:07am
Quoting jsr
So, what's going on? EUR/USD went down and then up, gold went down and then flat... and people just went silent and then still silent.

Ummm...maybe cause theres nothing interesting to report on their markets? Maybe cause they feel like they don't have to trade all the time? Maybe cause markets are choppy? Maybe cause they are not in the mood? Maybe their busy?...
  • #18,470
  • Apr 17, 2012 2:33am Apr 17, 2012 2:33am
yeah is a bit boring here. No Banter either .

Where is my old mate six gun. I think beeb has me on ignore and I used to grate Xtrade the wrong way because he is always long

Ok I will play, I think there is most likely a long on xag now to this trend line.
Attached Image (click to enlarge)
Click to Enlarge Name: xag.PNG Size: 75 KB
  • #18,471
  • Apr 17, 2012 5:10am Apr 17, 2012 5:10am
Quoting split_unit
Ummm...maybe cause theres nothing interesting to report on their markets? Maybe cause they feel like they don't have to trade all the time? Maybe cause markets are choppy? Maybe cause they are not in the mood? Maybe their busy?...


Yeah split_unit, market condition is obvious, but sometimes we share something else, articles, charts. etc.

Also, I think sharing what anyone do or don't do at this kind of market can be useful to others.

btw, for me eur/usd going up more than 150 pips and gold closing below it's yesterday's opening price is interesting.
  • #18,472
  • Apr 17, 2012 5:50am Apr 17, 2012 5:50am
Quoting jsr


Yeah split_unit, market condition is obvious, but sometimes we share something else, articles, charts. etc.

Also, I think sharing what anyone do or don't do at this kind of market can be useful to others.

btw, for me eur/usd going up more than 150 pips and gold closing below it's yesterday's opening price is interesting.
Its obvious that the EUR rally occurred after the German ZEW Economic Sentiment indicator came in above expectations. This increased certainty in markets fueled risk on trades which helped the EUR/USD. Gold currently resides in no mans land. Its off limits until it clears some significant levels (r=1700 s=1600) and anything in between is noise to me. (based on the time frame I trade)
  • #18,473
  • Apr 17, 2012 7:16am Apr 17, 2012 7:16am
This is H1.

I'm waiting for a break of this triangle.

Both blue lines have slopes that have been respected.
Attached Image (click to enlarge)
Click to Enlarge Name: xau-h1-20120417.png Size: 84 KB
  • #18,474
  • Apr 17, 2012 7:28am Apr 17, 2012 7:28am
Quoting jsr
This is H1.

I'm waiting for a break of this triangle.

Both blue lines have slopes that have been respected.

Talk about a spider's web of lines lol



beeb
  • #18,475
  • Apr 17, 2012 7:35am Apr 17, 2012 7:35am


It is encrypted for security reasons.
  • #18,476
  • Edited 8:16am Apr 17, 2012 7:36am | Edited 8:16am
Quoting jsr


It is encrypted for security reasons.

Very effective

Here's what I'm looking at GC 60 mins. The red fork is from the Feb 29th high:

http://www.screencast.com/t/M6qztFuk

beeb
  • #18,477
  • Apr 17, 2012 8:55am Apr 17, 2012 8:55am
Risk off again.
  • #18,478
  • Apr 17, 2012 9:03am Apr 17, 2012 9:03am
Quoting SunTrader
Risk off again.
Surely is.
  • #18,479
  • Apr 17, 2012 9:30am Apr 17, 2012 9:30am
Quoting beeb
Here's what I'm looking at GC 60 mins. The red fork is from the Feb 29th high:

http://www.screencast.com/t/M6qztFuk

beeb
beeb, based in your blue fork, price made a lower low, and found support in the warning line of the red fork.

This is an Andrew's pitchfork in m30.

It seems to me that downside waves are becoming weaker.

However, I'm targeting 1625, based in my H1 chart.
Attached Image (click to enlarge)
Click to Enlarge Name: xau-m30-20120417.png Size: 62 KB
  • #18,480
  • Edited 9:47am Apr 17, 2012 9:31am | Edited 9:47am
Gold Spiked down this morning... This may be why according to ZH.
http://www.zerohedge.com/news/gold-s...talk-down-gold
213 traders viewing now