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

  • #19,441
  • Jun 20, 2012 5:03am Jun 20, 2012 5:03am
Any traders here hold physical gold. I know you can maybe use your capital to trade instead but just curious given the fundamentals that are out there.

Regards.
  • #19,442
  • Jun 20, 2012 5:38am Jun 20, 2012 5:38am
Quoting neil324
Any traders here hold physical gold. I know you can maybe use your capital to trade instead but just curious given the fundamentals that are out there.

Regards.

Just a guess, but I would have thought that anyone holding any "serious" amount of physical would be both unlikely and unwise to admit it on a public forum.....

beeb
  • #19,443
  • Jun 20, 2012 6:13am Jun 20, 2012 6:13am
Yep Yep


Quoting jaimini
I found http://www.forexcrunch.com/wp-conten...-June-2012.pdf
quite informative.

and linking above with current situations, QE3 announcement is less likely today as well
so will we see another dive to 1560-1570 today ?
  • #19,444
  • Jun 20, 2012 6:50am Jun 20, 2012 6:50am
gold gonna sky rocket jump on the train



http://sreaves32.wordpress.com/2012/...-june-23-2012/
  • #19,445
  • Jun 20, 2012 6:56am Jun 20, 2012 6:56am
Quoting fxtrader_888
gold gonna sky rocket jump on the train



http://sreaves32.wordpress.com/2012/...-june-23-2012/

But GOLD are getting beaten down now....
  • #19,446
  • Jun 20, 2012 7:06am Jun 20, 2012 7:06am
Quoting beeb
Just a guess, but I would have thought that anyone holding any "serious" amount of physical would be both unlikely and unwise to admit it on a public forum.....

beeb
Hmm, people turning up in their gardens with shovels.

  • #19,447
  • Jun 20, 2012 7:07am Jun 20, 2012 7:07am
Last time people made a bullish call, price went under 1560 and lost more than 60$.

So, I'm sorry if I don't want a ticket in that train.

Most people here are intraday traders, and can't afford a 50$ move against their trades.

Backup your claims with charts, Entries, TPs and SLs.

If someone wants to follow, that's ok for them.

If you are a position trader you can just buy blindly and in a few years you will have great profits.

But if you are short term trading, why buying if price can dip further?

At least, say at which price you are going to recognize your call was misled, if price goes the other way, of course. So people have something to think about.
  • #19,448
  • Jun 20, 2012 7:27am Jun 20, 2012 7:27am
Not becuase you say so, becuase I no so myself too. Fundimentals are to strong.

Quoting jsr
Last time people made a bullish call, price went under 1560 and lost more than 60$.

So, I'm sorry if I don't want a ticket in that train.

Most people here are intraday traders, and can't afford a 50$ move against their trades.

Backup your claims with charts, Entries, TPs and SLs.

If someone wants to follow, that's ok for them.

If you are a position trader you can just buy blindly and in a few years you will have great profits.

But if you are short term trading, why buying if price can dip further?

At least, say at which price you...
  • #19,449
  • Edited 7:41am Jun 20, 2012 7:27am | Edited 7:41am
No one know anything about what is going to happen at 12:30, all I know is that my daily trend indicator is up and this looks like a beautiful dip to buy on(1603). We shall see...
  • #19,450
  • Jun 20, 2012 7:32am Jun 20, 2012 7:32am
Quoting fxtrader_888
gold gonna sky rocket jump on the train



http://sreaves32.wordpress.com/2012/...-june-23-2012/
sorry fxtrader but anything GS says makes me think prices will go in the opposite direction.

And just wait for Wheels' comment on market manipulation!!
  • #19,451
  • Jun 20, 2012 7:43am Jun 20, 2012 7:43am
Quoting jsr
Last time people made a bullish call, price went under 1560 and lost more than 60$.

So, I'm sorry if I don't want a ticket in that train.

Most people here are intraday traders, and can't afford a 50$ move against their trades.

Backup your claims with charts, Entries, TPs and SLs.

If someone wants to follow, that's ok for them.

If you are a position trader you can just buy blindly and in a few years you will have great profits.

But if you are short term trading, why buying if price can dip further?

At least, say at which price...
.
  • #19,452
  • Jun 20, 2012 7:44am Jun 20, 2012 7:44am
Quoting Sreym33
No one know anything about what is going to happen at 12:30, all I know is that my daily trend indicator is up and this looks like a beautiful dip to buy on. We shall see...
I'll tell you this. I'm a suspicious person. The fact that price is going down makes me think it can in deed go higher, becuse gold tends to do that. It fakes. It shows a move, then do the opposite.

But what I can't understand is a call to buy or sell, .

People who bought yesterday has a 20$ drawdown right now. Why not waiting for the real dip to buy? why exposing their accounts in a volatile enviroment?

As I said before, position traders don't have that problem, but intraday traders will only suffer if they take trades like that.
  • #19,453
  • Jun 20, 2012 7:48am Jun 20, 2012 7:48am
Quoting jaimini
It feels good when you draw some lines on chart and price respects it
H4 triangle working well so far.
price is compressing we'll see breakout soon
and we broke south
current movement is just like setting stage for Mr. Benny comments
  • #19,454
  • Jun 20, 2012 7:55am Jun 20, 2012 7:55am
Quoting XTrade
I trade GOLD bullishly, BY THE WAY WHERE DID THE PRICE STOP??? 1618 as aforementioned. Sometimes you do know.
Last night, Gold only paused there on the way down. Looks as if MAYBE it has completed it's second leg down of this little downtrend before the meeting. Let's see if the banks are right and the new QE is on the way.
  • #19,455
  • Edited 9:43am Jun 20, 2012 8:31am | Edited 9:43am
Quoting XTrade
BY THE WAY WHERE DID THE PRICE STOP???

1618 as aforementioned. Sometimes you do know.

You don't like it ? take a f-ing hike.
No need to make this personal.

This is exactly the attitude Im talking about. Im not sure what charts youre looking at but on mine the price touched 1594. Your ego has got in the way of your trading.

You knew just as much about this as you did on the 6th when you knew it was going to hit 1700.

Although I do agree with your longer term prospects, I just find that claiming that every second day is going to be "that" day when it soars is naive, eventually you will be right and you'l claim you knew all along despite missing out all the short opportunities.
  • #19,456
  • Jun 20, 2012 8:38am Jun 20, 2012 8:38am
fib 50% 4 hart = 1594,33 but who i'm i
  • #19,457
  • Jun 20, 2012 8:39am Jun 20, 2012 8:39am
Careful everyone! I have a good feeling it will shoot up right when he speaks before the fall. Large orders will be happening. Take percaution and get in right!
  • #19,458
  • Jun 20, 2012 8:48am Jun 20, 2012 8:48am
Quoting gnomoneey
weekly chart
we have broken the downward channel (RED DASH)and is looking like a new upward channel(BLUE SOLID). A close above the old channel should confirm the new channel is in tack.
we are also coming close to braking the trendline(blue)
we should have a clearer view next week but for now you can play the resistance 1.35 for a 600 pip scalp....
and again just my neebie point of view
update....
rejection of blue trendline of 1.35 area
rejection today of red dash dwnward channel
we are currently in a stall until 1030 est oil inventories...
next resistance is 159x - blue bar
next support is 1632 area blue trendline - which has had at least 4-5 rejection and upon breach of this trendline should see a 1680 push

for me i'm waiting to see what will happen this week....thx
Attached Image (click to enlarge)
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Wooooohooooo or Boooooohooooo
  • #19,459
  • Jun 20, 2012 8:48am Jun 20, 2012 8:48am
I reckon this is a pretty risky play, no one knows where the large orders are unless you work for an investment bank.
  • #19,460
  • Jun 20, 2012 8:50am Jun 20, 2012 8:50am
Quoting gnomoneey
......
next resistance is 159x - blue bar
next support is 1632 area blue trendline - which has had at least 4-5 rejection and upon breach of this trendline should see a 1680 push ......
Support is below price, resistance above.
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