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

  • #19,181
  • Jun 9, 2012 9:55pm Jun 9, 2012 9:55pm
yes i agree, i have been trading on various platforms, so far and have started an mt4 platform trading, since i can post pictures more easily. Due to bail out, i think gold will go up a little more and dollar will cool off a little also. But i have been trading through new, economic releases, using nothing but price action, and so far have made very good money, taking shorts, long, anytime, regrdless of the news, and i am usually a long term, trend trader. On my last trade, i entered at the very beginning, and will post a chart next week, and it will be a perfect exit, just before trend reversal. It took me years to perfect it, just staring at charts, hours on end. Will update you guys soon. But again, due to economic bailout release almost official, i believe it will weaken the dollar a little, and we all know what happens to gold if the dollar is weak. Good trading guys and many profitable trades ahead to you all.
  • #19,182
  • Edited 10:59pm Jun 9, 2012 10:30pm | Edited 10:59pm
Quoting jsr
The urgency of these guys to bring us the news is as if they were trying to make us think "if I don't buy gold right now I'm such an idiot".

A few months ago they told a similar story and the price was then @ 1650. So, no worries and no hurry.
They failed to recognize the significance of 1688 area in the 2nd quarter, just as they did the 2011 1922-36 area on the yearly where they said we were going to 2,000.
Its funny how ya know were ya stand and read something thats contrary from a respected thread and its just enough to create 2nd guessing in your trade.
The lesson learned is have confidence as ya go with what ya know as others are not always right.
  • #19,183
  • Jun 10, 2012 5:38am Jun 10, 2012 5:38am
Hey guys please help me out here, i am short in gold @ 1583. Where do you see the price moving. With so many news and unusual movement of gold have got me into confusion. Please help me out.
  • #19,184
  • Jun 10, 2012 5:49am Jun 10, 2012 5:49am
Quoting Paras4you
Hey guys please help me out here, i am short in gold @ 1583. Where do you see the price moving. With so many news and unusual movement of gold have got me into confusion. Please help me out.

Gold will be in positive territory this week...
  • #19,185
  • Jun 10, 2012 8:18am Jun 10, 2012 8:18am
Quoting multi888
Gold will be in positive territory this week...

based on??
  • #19,186
  • Jun 10, 2012 8:19am Jun 10, 2012 8:19am
Quoting Paras4you
Hey guys please help me out here, i am short in gold @ 1583. Where do you see the price moving. With so many news and unusual movement of gold have got me into confusion. Please help me out.
That was the trade to take fri. till the girls hit the day lows area where we took profit and entered trade north as previously posted.
MM as you see what the chart told you in the 1600 area.
You may have to flip if were trading on the north side of the 1608 area.
Id expect to retest resistance again as june monthly direction is coming out of the 1600-1608 area.
Dialing in on a smaller daily timeframe.
mon. daily
1639
1596
1553
  • #19,187
  • Edited 10:14am Jun 10, 2012 10:03am | Edited 10:14am
Quoting lilpip
They failed to recognize the significance of 1688 area in the 2nd quarter, just as they did the 2011 1922-36 area on the yearly where they said we were going to 2,000.
Its funny how ya know were ya stand and read something thats contrary from a respected thread and its just enough to create 2nd guessing in your trade.
The lesson learned is have confidence as ya go with what ya know as others are not always right.
Well said, lilpip. I recently read this article that simplifies this:

Sam Seiden talks about 3 principles of price movement:

Principle 1: Price movement in any free market is a function of an ongoing supply and demand relationship within that market.

Principle 2: Any and all influences on price are reflected in price.

Principle 3: The origin of motion/change in price is an equation where one of two competing forces (buyers and sellers) becomes zero at a specific price.

See how he explains this. Makes sense.

http://www.fxstreet.com/education/tr...os/2008/08/11/

Edit: Based on principle 2 we can say that if we can read charts, then we can read what big money is doing or trying to do. And if we are wrong, that is why protective stops are useful.
  • #19,188
  • Jun 10, 2012 10:24am Jun 10, 2012 10:24am
Quoting Paras4you
Hey guys please help me out here, i am short in gold @ 1583. Where do you see the price moving. With so many news and unusual movement of gold have got me into confusion. Please help me out.
For me, personally, to offer advice I would first have to know when and why you went short @ $1583.
  • #19,189
  • Jun 10, 2012 10:39am Jun 10, 2012 10:39am
I think this is a good eye opener too.

It is an informative article, so I want to make it clear that and I'm not endorsing the use of their product. It's just food for thought.

X, If there is any problem, I'll edit and delete it.

http://www.advantagesignals.com/inde...and-resistance
  • #19,190
  • Edited 2:04pm Jun 10, 2012 1:54pm | Edited 2:04pm
Like I was saying before this looks like an early December, 2011 market play out. Everyone was playing up, It falls showing market momentum change then It shoots back up to retest last major high, making everyone playing long that they were still on target and it collapsed. Obama did mention last week on Friday the US economy was not in good shape and needs action, and he proclaimed the Euro was a part of that problem. This after the decent jobs report slowly started to change your average traders mind and put long term back on the market. Investors are going crazy once again telling everyone to buy gold now before it's too late and people are listening and taking action. Every time I see mass amounts of investors telling the world that gold is going to hit 2000+ they say it in terms of it should have been there yesterday. I think we all know the future outcome of gold and where it’s going, but as of now things are on a balance beam and Europe is out weighing the problem. Obama wants reelected, the major corporations supporting Obama want him reelected and as of now they will do anything to make this happen. When you have companies like JP Morgan supporting a Democratic president, you have to wonder why? This can be for many reasons; one being that they are pushing the limits on spending so they can rob the world blind, and a democratic president is the way. Then after they bring in a republican to restructure our economy’s debt and slashing away at our government’s core and establishing new rules of international banking and government. When I see some of the most powerful companies supporting Obama, it makes me wonder and think. I feel they want to make people a little blinder to the status of our economy and will do so by reflecting better times are ahead if we get a little running room. Gold is being pushed down but made to think it’s going up, and by the time its down and everyone’s think gold is bust, It will change rolls so fast that everyone owning the physical will be burned and left in the dust wishing they would of held on to it. The big time investors will not stop buying at any price and the cheaper it get the more they will buy!!!!!
  • #19,191
  • Jun 10, 2012 2:52pm Jun 10, 2012 2:52pm
This is what I just read:

Quoting Crgone12
Like I was saying before this looks like an early December, 2011 market play out, blah,blah,blah,blah..................................................
If you are writing this not just for your own enjoyment, but for it to be read and maybe understood, please use the enter key once in a while.

I think this has been pointed out to you before.

Also please understand that many people here are not native English speakers and your message, if any, will be lost to them.
  • #19,192
  • Edited 4:49pm Jun 10, 2012 4:39pm | Edited 4:49pm
Ya, sorry about that, I should of realized. It was really sloppy either way you look at it. I did not really have the time to break it up formally and correct all the mistakes. Next time I will make it short and condensed, I just thought it may hold some value to some if any!

Blah Blah Blah!!!! Well I make bank every week, so I must be doing something right! But hey, I'm sure...well shit, I'm not here to argue, gook luck to you and your trading endeavors. Next time a simple "hey, clean it up and space it out every once in awhile would be nice!"; instead of Oh! Blah, blah, blah, blah.................. .................... to make yourself more relevant! It's whatever, thanks for the advice and your outstanding curticy......

Quoting ikdenk
This is what I just read:



If you are writing this not just for your own enjoyment, but for it to be read and maybe understood, please use the enter key once in a while.

I think this has been pointed out to you before.

Also please understand that many people here are not native English speakers and your message, if any, will be lost to them.
  • #19,193
  • Jun 10, 2012 6:12pm Jun 10, 2012 6:12pm
Quoting Crgone12
Ya, sorry about that, ...
I am sorry that my bl..etc offended you, that was not my intention.

I merely wished to express that not many people would read past the first sentence.
  • #19,194
  • Jun 10, 2012 7:02pm Jun 10, 2012 7:02pm
Quoting Crgone12
Ya, sorry ........
I took a peek, like a car wreck kind of thing. Some sorry.

Back on ig.
  • #19,195
  • Jun 10, 2012 7:03pm Jun 10, 2012 7:03pm
Quoting ikdenk
I am sorry that ...
You did right. Nothing for you to be sorry for.

Some can take a hint without taking offense.
  • #19,196
  • Jun 10, 2012 7:54pm Jun 10, 2012 7:54pm
From the chart, i feel as if the gold price would be going down. I think the price would move between the triangle.
Attached Image (click to enlarge)
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  • #19,197
  • Jun 10, 2012 9:12pm Jun 10, 2012 9:12pm
No problem, sorry, I've just been having a wierd day! No offence taken..

Quoting ikdenk
I am sorry that my bl..etc offended you, that was not my intention.

I merely wished to express that not many people would read past the first sentence.
  • #19,198
  • Jun 11, 2012 7:21am Jun 11, 2012 7:21am
Quoting whet412
yes i agree, i have been trading on various platforms, so far and have started an mt4 platform trading, since i can post pictures more easily. Due to bail out, i think gold will go up a little more and dollar will cool off a little also. But i have been trading through new, economic releases, using nothing but price action, and so far have made very good money, taking shorts, long, anytime, regrdless of the news, and i am usually a long term, trend trader. On my last trade, i entered at the very beginning, and will post a chart next week, and it...

From my point of view, the markets are extremely volatile these days because of the Spain situation. We are going to see the stock markets up & down alternately and this will affect the gold. The metal made a strong break-up at 1600 but got the resistance at 1630 and slid back to 1600. I think that the gold will trade between 1580-1630 in the next few weeks, until the stock markets will find direction
  • #19,199
  • Jun 11, 2012 8:17pm Jun 11, 2012 8:17pm
Man I was simply referring to comments made by some of the senior members about Vladimir and his claims that he works at JPM is all. Geez. I have nothing against him.

Quoting emene
For christ's sake!

Vlad only sells at SUPPLY and buys at DEMAND, just look at the numbers and draw horizontals lines on your naked chart, what do you think the big guys do ? They use 24 movering averages crosses and read the stars? right. I am so tired of reading all this garbage day in day out.

Keep it simple and you ll be rewarded. Stop thinking.

EDIT : I'm not after you Birons, I am addressing all the lost souls. Seems there is a unique concentration in FF.
  • #19,200
  • Jun 11, 2012 8:19pm Jun 11, 2012 8:19pm
I'm stacking as a long term investment as I see the price higher in the long run. I'm not long.

Quoting SunTrader
Then why buy?
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