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

  • #18,741
  • May 9, 2012 6:02pm May 9, 2012 6:02pm
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Short term bottom here, looking for a place to go long within the next 2 hours.
Skype: heliosphan187
  • #18,742
  • May 9, 2012 7:25pm May 9, 2012 7:25pm
Second daily close below trendline which is currently around 1620.

1600 is a psicological level, but is well below the trendline.

So, I think many bulls will wait to place their entry orders.
  • #18,743
  • Edited 10:10pm May 9, 2012 9:54pm | Edited 10:10pm
Quoting lilpip
wed. Daily
1649
1621
1587-89
wed.daily
30.67
29.75-85
28.92-29.00

lows achieved, eyes on candle formations and pa on the 5 min. for rotation up or continued trending.
my orders in for north with tight stop ( should at least wait till pa gives a bounce on 1589
support at wed. lows hold with daily close at or just above, bounce noted at 1587-89.
Thur. question of the day will 29.00 and 1587 hold ?
  • #18,744
  • May 9, 2012 11:50pm May 9, 2012 11:50pm
a day at a time
thur daily
1646
1607
1570
For the bulls, lets see a rotation up from 1587-89 with a move through 1607 or at least a thur. daily close above 1600-1607 area.
daily
30.48
29.48
28.47
  • #18,745
  • May 10, 2012 8:47am May 10, 2012 8:47am
Hey all, well it seems with the recent risk off meltdown, all all the political BS going on Gold has slipped through the 1600 mark with what I can see as a low the usual {1580} 10 or 20 below the psych level. Testing the weekly channel dip line. The next support Major below this area is the 100 week sma coming in around 1500. With a strong horizontal support at 1560 on the daily / weekly.

In theory the price has not done much in the past weeks besides swing maybe 50 to 80 bucks....

The break to the dip line seems to be rejected as of yet with the price back up appx 15 bucks @ 1598.

Silver : Looks like a dead fish losing the 30 USD handle and just sort of sitting there waiting for the next manipulation smackdown.


Kiwi and AUD have been hit hard. Aud slaughter first started when they cut the overnight rate that had been Benchmark high at .4 for quite some time.

Kiwi among jobs has some problems with the major export company showing a loss if I remember correctly, not to mention their central bank certainly didn't mind a drop, helping exports become cheaper....

The pound seems quite resilient can't say as much for the Euro.

Hopefully with some renewed risk overnight Gold will get the boost it needs to retake 1600/
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,746
  • May 10, 2012 9:45am May 10, 2012 9:45am
Quoting SunTrader
My chart shows vol yesterday of 244214 and today 227219 so although today was a narrower range than yesterday I don't make too much of it.

But I do think we will have a short term bottom since among different technical levels we are near the opening price for the year.
thanks for that SunTrader - as a matter of interest what broker do you use?


trade well,

LP
patience is a virtue
  • #18,747
  • May 10, 2012 10:39am May 10, 2012 10:39am
to go R3
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  • #18,748
  • May 10, 2012 11:05am May 10, 2012 11:05am
Quoting lovepips
thanks for that SunTrader - as a matter of interest what broker do you use?


trade well,

LP
TradeStation but I also go to CME website directly on a regular basis for verification.
  • #18,749
  • May 10, 2012 1:45pm May 10, 2012 1:45pm
Quoting SunTrader
TradeStation but I also go to CME website directly on a regular basis for verification.
Thanks SunTrader - I'm currently with Thinkforex and those misleading volumes led me to believe the bulls were lining up for an explosive start today. Thinkforex volume numbers were 35K for Tuesday and 228K for Wednesday.

time to look for another broker :-)
patience is a virtue
  • #18,750
  • May 10, 2012 2:46pm May 10, 2012 2:46pm
On the silver chart...There is a strong ichimoku bearish signal in the weekly. Price is below the kumo, TS has crossed below KS, and CS is below the price curve. Price action is near the EMA144 & 169 tunnel which may act as a strong support. a bounce from there in the next week or two will see price going up and bounce down from the kumo above it...around 33.2 etc area. Price can also go thru this 144 support if it wont bounce up. either way - If it goes up from the EMA144 and rebounce from the kumo above it; or pierce the 144, the floor is likely to be the ema360 below which will be around 20 ...+/-. There is a bearish future kumo in this weekly trend that extends to Nov.4 as of now. Sorry I've been trying to get a chart here but just couldn't...I do not know how to do this. This view is also supported by MACD.
  • #18,751
  • May 10, 2012 3:35pm May 10, 2012 3:35pm
Quoting mantise
Sorry I've been trying to get a chart here but just couldn't...I do not know how to do this. This view is also supported by MACD.
mantise

Here is how:

http://www.forexfactory.com/userguide.php#forum_attach

Quote
Attachments
You have the ability to attach different file types in your posting, including image files, text documents, zip files, etc. To attach a file to a new post, simply click the [Manage Attachments] button at the bottom of the post composition page. From here, click the 'Browse' button to select the file that you want to attach from your local hard drive, and click 'Upload' to attach your file to the post.

After posting, the image attachments will display a thumbnail. To view the full contents of the attachment (if it is not already...
Attached Image
  • #18,752
  • May 10, 2012 4:22pm May 10, 2012 4:22pm
jsr:
Thanks. I hope I'm doing this right. The ichimoku weekly chart for silver is attached
Attached File(s)
File Type: zip Silver Wkly.zip   63 KB | 531 downloads
  • #18,753
  • May 10, 2012 4:53pm May 10, 2012 4:53pm
Quoting mantise
jsr:
Thanks. I hope I'm doing this right. The ichimoku weekly chart for silver is attached
I use - below submit reply button is Manage Attachments.

Then it is embedded and not attached because many, including myself, will not mess with attachments.
  • #18,754
  • May 10, 2012 4:55pm May 10, 2012 4:55pm
After NY close index futures are on the move and not in a good way.

S&P 500 -0.8%
  • #18,755
  • May 10, 2012 5:26pm May 10, 2012 5:26pm
Quoting mantise
jsr:
Thanks. I hope I'm doing this right. The ichimoku weekly chart for silver is attached
That is the procedure. But it have to be an image (better if it is .png) so it can be seen.
Attached Image (click to enlarge)
Click to Enlarge Name: Silver Wkly.png Size: 89 KB
  • #18,756
  • May 10, 2012 5:29pm May 10, 2012 5:29pm
jsr:
Thanks alot. I was struggling with the suggestions including Suntrader's above. but thanks for the help. Now I go back to trading...
  • #18,757
  • May 10, 2012 8:29pm May 10, 2012 8:29pm
chinese cpi about to come out, im short silver at 28.97

Quoting mantise
jsr:
Thanks alot. I was struggling with the suggestions including Suntrader's above. but thanks for the help. Now I go back to trading...
Skype: heliosphan187
  • #18,758
  • May 10, 2012 8:43pm May 10, 2012 8:43pm
EURUSD at a 4 month low and heading lower tonight.

JPM has very disappointing earnings (or lack thereof) news.

Commodities (CRB) selling.

Risk off in many places.
  • #18,759
  • May 10, 2012 9:32pm May 10, 2012 9:32pm
Guys,

We should know this by now.

Gold is not a "system" reliable trade.

It is driven by a few main things,


The USD inverse relation
INFLATION
FEAR
GREED
MANIPULATION.
Safe Haven Buying.

and sometimes
RISK ON

When those run out, look to the techs.
XT
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,760
  • May 10, 2012 9:32pm May 10, 2012 9:32pm
Oh and i forgot

news

news

news

news

news
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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