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

  • #19,581
  • Jun 27, 2012 1:29pm Jun 27, 2012 1:29pm
Quoting Crgone12
Can some please tell me what will happen to Gold it the Euro Zone: A, does nothing or B, gets bailed out. Or any other options. I'm a little confuse at the moment about how it will affect gold. At the moment it seems Good news drives prices in the other direction then follow with a fall, and bad news pushes the markets down at first then followed by a push up (which is completely opposite of what should happen, but I understand the "why" on that part. My mind is shot at the moment. Thanks!!
what i understand from all shit going on is.
whole world is standing in front of global recession so most of the investors/traders wants maximum liquidity.
If you read content of link which jsr just posted you will also able to correlate things. most of the big investor took their money off from gold
earlier gold perfectly played role of safe heaven but now situation is different.
so any good news from euro zone pushes it up, but so far whole scenario is not resolved it gives opportunities to short term sellers to short gold which results in fall.
now 1520-30 is weekly demand and strong support where most buyers have placed their buy stops.
but this support is weakens every time it is visiting back you can see this clear picture in daily chart. price staying longer in this area.
now longer it stays below 1600 stronger chances 1520-30 won't hold this time if that happens we will see 1475-80 atleast..
so pray everything calms down in europe so that we can also earn some handsome amount in next bull run to 1900
  • #19,582
  • Jun 27, 2012 2:21pm Jun 27, 2012 2:21pm
what i understand from all shit going on is.
whole world is standing in front of global recession so most of the investors/traders wants maximum liquidity.
If you read content of link which jsr just posted you will also able to correlate things. most of the big investor took their money off from gold
earlier gold perfectly played role of safe heaven but now situation is different.
so any good news from euro zone pushes it up, but so far whole scenario is not resolved it gives opportunities to short term sellers to short gold which results in fall.
now 1520-30 is weekly demand and strong support where most buyers have placed their buy stops.
but this support is weakens every time it is visiting back you can see this clear picture in daily chart. price staying longer in this area.
now longer it stays below 1600 stronger chances 1520-30 won't hold this time if that happens we will see 1475-80 atleast..
so pray everything calms down in europe so that we can also earn some handsome amount in next bull run to 1900
  • #19,583
  • Jun 27, 2012 2:30pm Jun 27, 2012 2:30pm
When I factor in the volitility of what the market will do and how all this is just making to much sense when I compared all the way back to 2009, the last scenario makes sense, though I need to see how tonight finishes up before I would say the last option is a up or down move first, becuase I'm just going to assume down first untill I can get more data. I love finding patterns like this.

If you have questions just ask

Attached Image (click to enlarge)
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  • #19,584
  • Jun 27, 2012 3:01pm Jun 27, 2012 3:01pm
Thanks!!

Quoting jaimini
what i understand from all shit going on is.
whole world is standing in front of global recession so most of the investors/traders wants maximum liquidity.
If you read content of link which jsr just posted you will also able to correlate things. most of the big investor took their money off from gold
earlier gold perfectly played role of safe heaven but now situation is different.
so any good news from euro zone pushes it up, but so far whole scenario is not resolved it gives opportunities to short term sellers to short gold which results in fall....
  • #19,585
  • Jun 27, 2012 3:14pm Jun 27, 2012 3:14pm
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  • #19,586
  • Jun 27, 2012 4:28pm Jun 27, 2012 4:28pm
To note if it falls below the 3rd target of the 1540 area if this chart is showing to be true then the return would have more than 6,000 pips total and in that case the target on the way down from 1600 area would be lower than 1480's. May main target would be 1400 area over all based off what I put in my charts, but base on this what I'm looking at 1480's is the first target and the next would be like 1397 to be more exact.

Also the crazy shot up makes complete sense if you look at the volatility of smaller news events. Everyone is waiting on the EU summit to finish and a 6,000 plus swing to give it enough momentum to break though all the barriers makes it more realistic.

Quoting Crgone12
Attachment
  • #19,587
  • Jun 27, 2012 5:06pm Jun 27, 2012 5:06pm
Crgone12

I am trying very hard to read and understand your postings but am finding it extremely difficult to do so. This is a pity as I am sure you have much to contribute.
Could you please try and put a bit more effort into your spelling, grammar and punctuation to make things a bit easier. Also a few reasons WHY you think things may happen would be helpful.....
Thanks

cg uno
  • #19,588
  • Jun 27, 2012 5:19pm Jun 27, 2012 5:19pm
One possible scenario is that if gold breaks down to take out those stop losses we could see the big boys use that to fill large buy orders and the price may go up again in a big way. If I had to guess I would say somewhere around 1485 to 1475 is a major area to watch.

Its still possible we can see gold up to just under 1600, then the drop. I think that's doubtful though. The summit tomorrow may not have much of an effect. Its possible that next Fridays NFP will be the catalyst. If gold were go down to 1480 by next Friday, then I would likely be more bullish than bearish. But Ill trade what I see though.

In the meantime, I'm shorting some positions at 1574.56 with a stop loss at
1586.70 and see how it all plays out.
  • #19,589
  • Jun 27, 2012 8:59pm Jun 27, 2012 8:59pm
Quoting Becel
..... could see the big boys use that to fill large buy orders and the price may go .....
Big boys also like to go short from time to time.
  • #19,590
  • Jun 27, 2012 10:06pm Jun 27, 2012 10:06pm
I completely understand and will make a better effort to clean everything up. I will try to clarify in the morning. Thanks!

Quoting cg uno
Crgone12

I am trying very hard to read and understand your postings but am finding it extremely difficult to do so. This is a pity as I am sure you have much to contribute.
Could you please try and put a bit more effort into your spelling, grammar and punctuation to make things a bit easier. Also a few reasons WHY you think things may happen would be helpful.....
Thanks

cg uno
  • #19,591
  • Jun 27, 2012 10:20pm Jun 27, 2012 10:20pm
Well didnt expect the move up at the start of the asian session. Had to dump the short position and now im long at 1575.72, maybe we will it 1600? The price is above the daily pivot, so stop loss is at 1572.25.

Sure the major players like to short. It always fall much faster, which makes shorting so much fun.
  • #19,592
  • Jun 27, 2012 10:32pm Jun 27, 2012 10:32pm
Today should "Risk On" in play due to EU summit.
  • #19,593
  • Jun 27, 2012 10:42pm Jun 27, 2012 10:42pm
I want to change something from my last post that I messed up on. Also I will try to clean up what I mentioned before in the morning, I'm to tried now. I thought I would say this one last thing before I sleep.

In this chart at the far right where we currently stand (1775 area): I was saying down from are current level to the 1542 area, It's really around the 1530 to 1528 area. Also I said after that 1600 area, it's really the 1617 area. Then I would play down to 1403 area. I feel confident these targets, in a very close degree will be hit, very confident (I'm full of myself at times). I just don't feel like that order is solid and there is no way of knowing that information really.

I took my current trade off at a small profit and set up pending transactions instead to be smart about this, because at this moment a breakout tomorrow or Friday could be up or down first. I have a buy stop transaction around 1585 area and a TP of 1617 area and below. Then have sell limits in place at that area as well. I also have a sell stop at 1573 area, with a TP of 1534 and below area. I have no Buy at this level, since I have no ideal what direction it will head first.

If it goes down first I would place a buy at that area mention above (1534 and below area), but it goes up first then I would not place a buy on the way down; I would ride my sells from the top. I will put a few more charts in the morning explaining those levels and why they are on my list. For now I am just reposting my last chart, so when you look at it mentally change the levels I mentioned above, because I messed up on my targets that lead to the wrong pip counts in a big way.

Also with the chart, study it from the left to the right very slow. Try and see what I'm talking about. The only thing about what I'm showing is that the charts are always showing you how far down or how far up it will move next, but not immediately. The only thing is you need to understand the momentum and trend to make that useful. Why as of now, I'm not trying to guess up or down first, I'm simply playing both in my favor.

Last, don't take any of my information as fact in anyway, I'm simply showing you my point of view and areas of targets for myself and nothing more. I change my view constantly until I get as close as I can to accurate answers. I will have supporting data in the morning of my reasoning, besides what I have in this chart, which is incorrect data on the far right.

Attached Image (click to enlarge)
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  • #19,594
  • Jun 28, 2012 6:24am Jun 28, 2012 6:24am
http://www.businessinsider.com/raoul...game-2012-6#-1
  • #19,595
  • Jun 28, 2012 6:49am Jun 28, 2012 6:49am
Fuck, we are all fucked!!!! Hopefully we will all figure something out. I'm starting to think the moment I make so much money with this damn currency shit that banks will be fucked, and my account will final say millions and my broker will say, sorry we dont have your money!!!!!!!!!!!!!!

My broker is in Finland, apart of the Euro Zone!!! They would probably start with a one world currency......................

Quoting jaimini
http://www.businessinsider.com/raoul...game-2012-6#-1
  • #19,596
  • Jun 28, 2012 6:50am Jun 28, 2012 6:50am
I'm going to ask my broker now what would they do if this happened...

Quoting jaimini
http://www.businessinsider.com/raoul...game-2012-6#-1
  • #19,597
  • Jun 28, 2012 7:03am Jun 28, 2012 7:03am
Quoting Becel
Well didnt expect the move up at the start of the asian session. Had to dump the short position and now im long at 1575.72, maybe we will it 1600? The price is above the daily pivot, so stop loss is at 1572.25.

Sure the major players like to short. It always fall much faster, which makes shorting so much fun.
I prefer to find fun things away from trading and not get fixated on BRN's big round numbers.
  • #19,598
  • Edited 8:23am Jun 28, 2012 7:06am | Edited 8:23am
Quoting jaimini
http://www.businessinsider.com/raoul...game-2012-6#-1
Damn! End is nigh! Very much in line with other economists like Harry Dent
  • #19,599
  • Jun 28, 2012 7:43am Jun 28, 2012 7:43am
I also wanted to add and change the levels where I said 1530 to 1528, now after closely looking, are more like 1500 to 1512 area.

Quoting Crgone12
I want to change something from my last post that I messed up on. Also I will try to clean up what I mentioned before in the morning, I'm to tried now. I thought I would say this one last thing before I sleep.

In this chart at the far right where we currently stand (1775 area): I was saying down from are current level to the 1542 area, It's really around the 1530 to 1528 area. Also I said after that 1600 area, it's really the 1617 area. Then I would play down to 1403 area. I feel confident these targets, in a very close degree will be hit, very...
  • #19,600
  • Edited 9:06am Jun 28, 2012 8:51am | Edited 9:06am
I find that the physical value of silver is the best long term investment. It has a very needed practical use as gold does not. If everything went to shit that would be the metal to own.

Quoting jaimini
http://www.businessinsider.com/raoul...game-2012-6#-1
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