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

  • #19,501
  • Jun 21, 2012 2:49pm Jun 21, 2012 2:49pm
Quoting Crgone12
I want to get into all that but my broker does not allow it. I use finfx.fi and there amazing, but I think I might use a second broker for this reason. Who do you use? It seems like if you use all the things that are about to happen that it would make since to buy oil now, bu you must get out at the right time. When the dollar gains in value oil prices go down. I would wait for the sell instead of the buy, but both would work. I would wait for everything to settle down and for things to balance out, or play both otptions. Wish I new more...
I'm using exness.
m entry is totally based on weekly demand level
and yesterday US crude inventories was around 2.3b so price moved from 85 to 78 so its more like settled now.
i'm using tight SL and will reenter
  • #19,502
  • Jun 21, 2012 3:48pm Jun 21, 2012 3:48pm
http://www.screencast.com/t/7HNrUSHDc5

5min GC that's been running quite well today.

Someone once said that a picture is worth a thousand words........

beeb
  • #19,503
  • Jun 21, 2012 3:54pm Jun 21, 2012 3:54pm
Quoting jsr
This is why I like stop loss.

I managed to net my longs with a little profit.

And that's why I don't like to trade the news. Sometimes, like today, they play games with us.

US data was bad. But index went up, EUR/USD and AUX/USD went down.

So, better believe in technicals.
I love my stop loss. Wouldn't trade without it.

I posted numerous times a daily chart showing major resistance 1628-1630 area. The fed yesterday basically said more of the same. Not more, just more of the same. The market wanted way more. Resistance held which means down, down, down.

Some economies are doing pretty good (China, Brasil, Russia), some ok (USA, Germany), and some downright lousy (rest of EuroZone) so growth and therefore inflation expectations are way down. Risk-off.

The other reason to buy Gold was the rush to safety, which I believe, is a thing of the past. It made sense before the world economies became so inter-connected.

If the Euro-crisis and the USA debt-crisis does not get worked out it will take down every other major economic power too.

If this is so then the two main reasons to buy are not there. But people in India should be happy because it brings down the cost of marriage.
  • #19,504
  • Jun 21, 2012 3:58pm Jun 21, 2012 3:58pm
Its looking like it might go a little lower based off the daily candle getting ready to close. Maybe 1558 area... I'm prepared either way. just wait for it and be patient for the move that it decides to take.
  • #19,505
  • Edited 7:28pm Jun 21, 2012 6:37pm | Edited 7:28pm
OK I may of messed up the placement of a few things, but I'm close figuring it out. My first small long will be at 1576 area to take my profit not what I said before. I'm starting to see that maybe this may be it for now. If it breaks 1578.50 I will reconsider my other targets after some more time has been spent with the chart. The 1576 area will get lower and lower as time moves forward, that target is for within this hour. If it takes longer it will be around 1573 area. If it breaks passed this small resistance it will pull out and over time work its way back up, and everything I said before still remains, but only in this scenario.

If it cant break the zone mentioned above my next target area is 1539, though if it gets this far down it will end up being 1533 again, which will break a third major trend support. Then I will update for more input!!


To add: I now feel 1600 area is out of the question at the moment. Everything abouve is my plan, but I will work on this in the morning. I need some sleep..
  • #19,506
  • Jun 21, 2012 9:34pm Jun 21, 2012 9:34pm
Quoting XTrade
My posts are backed by charts, TA and Fundamental analysis.

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.
Sorry what did you say? I couldnt hear you over the sound of 1560
  • #19,507
  • Jun 22, 2012 1:08am Jun 22, 2012 1:08am
I stay positive for gold / silver long term, Ask yourself, what do you trust the most?

countless paper or limited metal ?
  • #19,508
  • Jun 22, 2012 1:12am Jun 22, 2012 1:12am
Quoting forexfacts
I stay positive for gold / silver long term, Ask yourself, what do you trust the most?

countless paper or limited metal ?
To be honest I cant go to the petrol station and pay with something that is dug from the ground... Although I trust gold more, I'd rather have dollars in my pocket.

Also gold is not limited lol
http://www.bloomberg.com/news/2012-0...latt-says.html

Sorry to ruin the fun
  • #19,509
  • Jun 22, 2012 1:26am Jun 22, 2012 1:26am
Quoting HotBiscuits
To be honest I cant go to the petrol station and pay with something that is dug from the ground... Although I trust gold more, I'd rather have dollars in my pocket.

Also gold is not limited lol
http://www.bloomberg.com/news/2012-0...latt-says.html

Sorry to ruin the fun

Well ok, if you want to spend all of your savings on gas and food then its your choice, buy a few gas-guzzlers and cats or dogs if you don't have kids.

But if you ask me, best would be to spend it on charity.

The production of gold is limited, you want to produce more you'll need to spend more $
  • #19,510
  • Jun 22, 2012 6:31am Jun 22, 2012 6:31am
Quoting forexfacts
........, Ask yourself, what do you trust the most? .....
Price.

Opinions are like ........
  • #19,511
  • Jun 22, 2012 7:22am Jun 22, 2012 7:22am
Last night Moody's downgraded 15 major banks.
  • #19,512
  • Jun 22, 2012 8:25am Jun 22, 2012 8:25am
Quoting SunTrader
Price.

Opinions are like ........

Exactly, Price it is!

Looking from far away at fundamentals and technicals, but closely at the price, i still see my old $1400 desire, a buy, and $1800 a sell, but most of the desires don't come true, so i need to be more practical
  • #19,513
  • Jun 22, 2012 11:12am Jun 22, 2012 11:12am
Quoting HotBiscuits
To be honest I cant go to the petrol station and pay with something that is dug from the ground
http://money.cnn.com/2012/02/03/pf/s...cies/index.htm
  • #19,514
  • Jun 22, 2012 11:36am Jun 22, 2012 11:36am
Quoting Sreym33
http://money.cnn.com/2012/02/03/pf/s...cies/index.htm

Sound good but no reaction yet.
  • #19,515
  • Jun 22, 2012 12:43pm Jun 22, 2012 12:43pm
Quoting multi888
Sound good but no reaction yet.
http://bullionchange.com/people-are-...h-silver-gold/

http://www.forbes.com/sites/gordonch...d-to-buy-gold/

http://www.csmonitor.com/Business/Th...d-in-gold-bars
  • #19,516
  • Jun 22, 2012 1:05pm Jun 22, 2012 1:05pm
Everything is on a ledge right now. I thought before that when gold went down stocks went up, but after doing a lot of research it’s completely opposite. If you believed stocks are going to see a lot of earnings growth in the next few years and also believed inflation is going to be high, then stocks and gold would both go up.

I feel that stock have just a short term growth coming that will push gold back up to the areas that were mentioned before. But after realizing I can apply my same methods to the stock market I see that it's in store for one hell of a ride. I see it tanking pretty low, which will be following the aid of pushing gold down. At which case something will have to happen, like more easing (QE3), unless we get smarter and choose not to. When this is all said and done, gold will be back at the levels of crazy heights. I see the major fall coming soon, but not just yet. I have a feeling that it will be just in time for the next Fed meeting scheduled. This will be epic display of wrong doing of international banking funds.
  • #19,517
  • Jun 22, 2012 1:59pm Jun 22, 2012 1:59pm
@JSR I didn't think gold was going to drop through $1600, so had it not been for that report about those options I'd likely have taken a long position on a dip around that area, but instead I stayed out; so I didn't profit from the information, but I didn't lose anything either which is even more important.

Except for oil which looks like it will continue downward, I haven't liked how any futures have behaved this week, so I'll continue to stay out until I'm comfortable with the direction currencies and commodities are heading.

As far as gold is concerned, if it hits $1520 I would probably go back in (long), otherwise I'll wait until it breaks above $1600 again.
You can always make money tomorrow provided you don't lose it today.
  • #19,518
  • Jun 22, 2012 4:50pm Jun 22, 2012 4:50pm
Quoting gnomoneey
my mistake
www.babypips.com/school
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #19,519
  • Jun 23, 2012 5:57am Jun 23, 2012 5:57am
Ending DownTrend ??
Attached Image (click to enlarge)
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  • #19,520
  • Jun 23, 2012 6:26am Jun 23, 2012 6:26am
Quoting netfrofit
Ending DownTrend ??
That's one very interesting indicator you have there, Netfrofit. What the name of that indicator & where can one get a copy?
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