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

Hey man - that was emotional!

(...my pulse went when I met my mother in law...too much fear can kill you!)

hehehe

I've been chuckling too!

Do you guys see how similarly EUR/USD and XAU/USD move together? It's almost as to expect what goes on with gold, you simply need to look at the euro and make your trade.

Well, if that is the case, maybe you'd like to put your finger in a sell trigger if resistances hold. (Daily chart - EUR/USD)

Then why did you take out this line?

"...don't take things too personally".

Don't worry, I don't.

But have you noticed my member since date, and dogbreath too? That usually give me an idea where somewhere is coming from when they talk trading - that and their posts and actual experience they express.

Like anything sometimes yes, sometimes no.

Gold is just above downward channel. and looks like hammer on dayly. Lets see if its just a fake out

Hi Sebastien972,
Yes the correlation between XAU/USD & EUR/USD can be uncanny - generally speaking this is primarily based on dollar weakness rather than euro strength (as gold is priced in dollars).

It is worth noting that in the past this relationship has broken down (especially when there's concerns in Europe) and rises in gold have gone hand in hand with rises in the dollar.

here's a very good article that goes into more detail:
http://www.gold-eagle.com/editorials...ile052611.html

Over the coming weeks/months we will most likely have a few hiccups in Europe and when that happens, I would expect gold to rise while the euro slides :-)

Very interesting indeed. That makes trading gold positively more challenging.

Thanks for the article.

I really appreciated it!

Okay man, you've humbled me.

Hello, this works perfectly!!!

Every time (in cercle) we go to serach fo the line twice, and then silver goes down!!

This is perfect!

most basic chart ever with just two pitchforks

Be Vigilant my friend. They dance together until they don't.

See the chart which is weekly.

eyes on 1649 for NY session direction.

Does anyone have experience with Heiken Ashi?

21 week EMA and
50 Week SMA

Touching.

Daily candle low well above yesterday's.

Current Spot Price 1652- Thus we have reclaimed the midpoint price of 50 / in the 16s.

The bar/ bid price is just below the first channel bottom on my chart.

After weeks of dullness and thin trade I am sensing a breakout.

I would like to see ultimately a 100 USD move north here to test 1750.

This is weekly analysis. keep that in mind.

The buck had it's day.. Majors and Minors especially Aussie and Kiwi hit hardest by the RBA's decision to lower the benchmark rate by 50 bps to .350 from .400. This dropped aussie well over 100 pips.

Nevertheless. IMO it is still the best roll and the best carry trade as long as she is moving up.

Gold held strong and looks ready for a break.

I smell one coming. Warning # 1

Also looking for a flip tonight and some retracement on my faves
Aussie, Kiwi, Cable Euro.

Like to see swissy dump off back where it belongs borderline 8000 and U/Cad make a new monthly low again.

Channel "normal bounds in blue-
"Dip line red"
"Overshoot line" or reaction high resistance line in Green" - not visible.

This would also mean if we revisit the old symmetrical triangle that took months to form that BROKE indeed bullish,

Has now had it's test of the resistance angle wall and has FAILED to break it, also supporting the move higher and likely putting us on track for a run towards 2100 in the coming months.

Test area APPX 1610 circled in red.

Super strong psycho supports are now reinforced at 1500 and 1600 (which has not been tested in quite some time as said in one of my last posts).

The wall on the LEFT of the SYM T is where we get the target from.

Being that it formed off the weekly (2008 origin) channel it is quite clean, yet there are two ways to look at it.

One from the dip line test which "technically speaking" would be correct which equals a plus target from initial break point of 450 USD.
The other is to consider that move a reaction low and respect the test of the basic or normal channel lines and say from the test of the channel bottom we would count thus equalling 400 USD.

The difference is meager in the scheme of things.

chart below....

Something I have been listening to debates about and pondering.

The Chinese have kept their currency artificially low for years,
or "pegged" only allowing for small fluctuations in the FX market.

Part of the idiocy here IMO is that they do this to give the falling buck a boost
in order to let Americans buy more and more sh!t they don't need and can't afford because we are in debt and broke. There is still no real job creation here.

So the "stuff from China comes in by the BOATLOAD literally Cargo ships filled with everything from waterguns to plasma TVs to iPads (designed in California Made in China) LOL...

Yet we EXPORT NOTHING> that ship turns around and leaves empty.

Then the Chinese say we want to diversify our holdings out of the USD.

We all know that they are buying GOLD by the boatload but no one will admit that. So then what are they "diversifying into?" The Euro? Unlikely, cable?
Doubtful, US T-Bills- they have more than enough of those as well as credit default swaps I'm sure.

The fact is that if China diversifies out of the Buck - WHO is going to take the place of their biggest consumer?

Japan? LOL - Certainly not emerging markets, like Brazil (who by the way is the only country to be able to run it's vehicles using self made ethanol as a gas substitute on flex fuel cars if all the oil dries up eventually and at the rate this world is going. It will.

Just like burning coal, that will run out as well hopefully not before they figure out a better, cleaner way of producing sustainable energy, - or they will just wear gas masks.... And we are just as guilty with the amount of cars per household on the road. Lack of public transportation. Etc. Aging railways..

Where is America's high speed rail? No WHERE.

In any case then another 4 years goes by and some other lying shmuck comes into office taking any good doing by the previous administration and abolishing it. How can we remain a capitalist nation like this??

The point is the RMB/ YUAN needs to be UNPEGGED and not manipulated by the Chinese GVMT any more, perhaps than all the hardworking Chinese people that bust their assess all day making this crap will reap some of the rewards set aside right now only for China's elite.

The market should dictate the price not the Governments. Then maybe, just maybe America will wake the f- up and realize how f'd we are and how bad things are getting.

Just ranting, feel free to comment/

sHE COMES IN LIKE THIS:
The Emma Maersk One of if not the biggest cargo ship in the world

Second pic - back to China... Where's all the cargo????