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

  • #20,601
  • Aug 26, 2012 10:46pm Aug 26, 2012 10:46pm
Quoting XTrade
Have to check but not really concerned about the 30's maybe 35.000

and 40.
I hear ya on getting to the otherside of $35.
I was refering to mondays day trade and a heads up to where she might be going intraday.
  • #20,602
  • Aug 26, 2012 11:16pm Aug 26, 2012 11:16pm
Quoting lilpip
I hear ya on getting to the otherside of $35.
I was refering to mondays day trade and a heads up to where she might be going intraday.
SLV looks pretty darn interesting down here. Macro elements favor a pop in silver, lets see what happens
  • #20,603
  • Aug 27, 2012 12:53am Aug 27, 2012 12:53am
True! No argument there. Seems we usually share the same bias / analysis brother.
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Now let's look at gold wiping out what I thought could be minor interim resistance @64. N O P E!!!

Risk currencies not all following = another reason gold is it's own beast and not to "peg" it to anything all the time. Strongest relationship= inverse with the USD, yet when the Euro tanked last year Gold and the buck rose together so put that in your pipe and smoke it!

Live chart appx high 1676 subject to change on refresh.

http://www.kitco.com/images/live/gold.gif

Quoting lilpip
I hear ya on getting to the otherside of $35.
I was refering to mondays day trade and a heads up to where she might be going intraday.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,604
  • Aug 27, 2012 12:54am Aug 27, 2012 12:54am
Just looking at this simple 3 day line chart if, things persist we may be looking at 1720 by week's end easy..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,605
  • Aug 27, 2012 12:56am Aug 27, 2012 12:56am
Fundamentally and technically speaking, this could very well be premature bidding up before september hit's and everyone is back from vacation AND the price starts swinging 50 bucks a day with a northside bias... Just a thought.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,606
  • Aug 27, 2012 12:57am Aug 27, 2012 12:57am
LOL

bro!
XT

Quoting NoJobRob
I would agree with that assessment.

"Home prices ALWAYS go up!" - Pretty much everyone
"Gold is a STUPID investment" - Dave Ramsey, before gold doubled
"We can print away our problems!" - Keynesians everywhere
"Fool me once, shame on you. Fool me twice... ...You... You can't get fooled again!" - GW Bush

LOL
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,607
  • Aug 27, 2012 1:01am Aug 27, 2012 1:01am
I bought @1677, now i'm HOPPING for another dip of 30-40$ to buy some more...
  • #20,608
  • Aug 27, 2012 2:15am Aug 27, 2012 2:15am
She's sliding off the 76 high, yet I'm only looking to 1670/69.. for now.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,609
  • Aug 27, 2012 2:28am Aug 27, 2012 2:28am
Quoting XTrade
because the majority of people in this world are stupid!



SOOOO EASY!

Jeeese we even give away secrets daily in here, but no, "I'm shorting, with a 100 USD account and 50 posts and no analyisis


.....
Maybe once they blow through enough accounts they'll start to realize the only way to make money is with the trend.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #20,610
  • Aug 27, 2012 5:51am Aug 27, 2012 5:51am
silver
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  • #20,611
  • Aug 27, 2012 9:26am Aug 27, 2012 9:26am
Quoting longshot_nl
silver
Interesting charts, silver also sparked an interest in me a while ago.
  • #20,612
  • Aug 27, 2012 11:18am Aug 27, 2012 11:18am
I got a feeling we might see gold do something like this. The 2 highlighted bottoms were what I'd call "too easy" and have a good chance of being tested again. Once taken out, price can resume upwards.

This is not a call to go short here, but rather a heads up for a possible buy, down in that area. 1563 should be a safe place to place a stop.
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  • #20,613
  • Aug 27, 2012 12:23pm Aug 27, 2012 12:23pm
Quoting Zappa
I got a feeling we might see gold do something like this. The 2 highlighted bottoms were what I'd call "too easy" and have a good chance of being tested again. Once taken out, price can resume upwards.

This is not a call to go short here, but rather a heads up for a possible buy, down in that area. 1563 should be a safe place to place a stop.
Anything is possible, but last weeks move was REALLY strong closing at the highs of the week. Take a look at the chart I posted a page back. Any sell off past the 50% retrace (1645 for /GC & 159.20 for GLD) is extremely suspicious and to me would signal that there are actually more sellers than buyers.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #20,614
  • Aug 27, 2012 12:46pm Aug 27, 2012 12:46pm
Quoting zusch
Anything is possible, but last weeks move was REALLY strong closing at the highs of the week. Take a look at the chart I posted a page back. Any sell off past the 50% retrace (1645 for /GC & 159.20 for GLD) is extremely suspicious and to me would signal that there are actually more sellers than buyers.
What do you mean?
  • #20,615
  • Aug 27, 2012 12:53pm Aug 27, 2012 12:53pm
Quoting zusch
Anything is possible, but last weeks move was REALLY strong closing at the highs of the week. Take a look at the chart I posted a page back. Any sell off past the 50% retrace (1645 for /GC & 159.20 for GLD) is extremely suspicious and to me would signal that there are actually more sellers than buyers.
A move to 1633 would test the break and that is a very common thing that happens.
  • #20,616
  • Aug 27, 2012 1:13pm Aug 27, 2012 1:13pm
Quoting Kidman
What do you mean?
Uncomplicated answer: Fibs measure buying/selling strength. Less retrace means more power, more retrace means less power.

Complicated answer: So at the 50% Fib you could buy and place a PT at last weeks highs and a SL at last weeks lows correct? 1:1 risk reward. Why would any sellers step in below 50% if their risk:reward becomes less than 1:1? The answer to why they open new positions below 50% is that they believe price will continue PAST last weeks lows. The same goes for why people would buy at the 38.2% retrace...they believe it will go PAST last weeks highs.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #20,617
  • Aug 27, 2012 1:20pm Aug 27, 2012 1:20pm
Quoting Zappa
A move to 1633 would test the break and that is a very common thing that happens.
True that is very common. I believe that if we were destined to retest the breakout, then 50% of last week would coincide with that level, but instead new buyers were willing to open new positions essentially at last weeks highs pushing the 50% Fib higher with every wave up.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #20,618
  • Aug 27, 2012 1:28pm Aug 27, 2012 1:28pm
Quoting zusch
Uncomplicated answer: Fibs measure buying/selling strength. Less retrace means more power, more retrace means less power.

Complicated answer: So at the 50% Fib you could buy and place a PT at last weeks highs and a SL at last weeks lows correct? 1:1 risk reward. Why would any sellers step in below 50% if their risk:reward becomes less than 1:1? The answer to why they open new positions below 50% is that they believe price will continue PAST last weeks lows. The same goes for why people would buy at the 38.2% retrace...they believe it will go PAST...
I have my doubts about this theory, man. I'm all for trying to understand the market and its participants, but I see prices retrace past 50% all the time and then reverse. Hell, just look at the last 5 months in this gold market. I count 6 retracements that went past 50% that reversed shortly after. See chart.
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  • #20,619
  • Aug 27, 2012 1:53pm Aug 27, 2012 1:53pm
Quoting Zappa
I have my doubts about this theory, man. I'm all for trying to understand the market and its participants, but I see prices retrace past 50% all the time and then reverse. Hell, just look at the last 5 months in this gold market. I count 6 retracements that went past 50% that reversed shortly after. See chart.
All those moves you highlighted were when market was in a consolidation condition. I wasn't even watching Gold during the areas you highlighted b/c of the hindsight I received from the Monthly chart.

1: Bold down candle, bias is down for the next month.
2: Sellers can not keep it up, we retrace past 50% and 61.8% of last months range. Candle finishes as an inside bar. That is a stall.
3: Not surprisingly, buyers take over b/c of the lack of selling pressure last month and candle closes as another inside bar, but this time green. When this candle closed I added GLD to my watch list.
4: Bulls take over. Small retrace down to 61.8 (past 50%, but remember we were still inside last months range at this point).

Now that we've broken the consolidation pattern we are in a trending condition.
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Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #20,620
  • Aug 27, 2012 2:01pm Aug 27, 2012 2:01pm
Not to diverge off the topic of gold, but doesn't this monthly chart of AAPL sort of look similar?
Attached Image
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
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