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

  • #20,681
  • Aug 30, 2012 10:05am Aug 30, 2012 10:05am
Mediocre at best US news don't see why the buck is rising on minors and majors. albeit small 40 50 pip move so far...

I am leaving on any gold positions and looking to buy some physical silver this weekend if I can.

Think I am going to let the currencies sort the choppiness out, and come back after labor day. Then as beeb said the desks will be manned.


Can't deal with this tight range. Don't mind it sometimes with gold but I like to catch at least a 50 pip to 100 pip move.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,682
  • Aug 30, 2012 10:07am Aug 30, 2012 10:07am
Oh and see how 1650 reacts. We may be at or close to the daily lows.

Sorry, the signal is a bit late chart jumped while typing.

Look

http://www.kitco.com/images/live/nygold.gif
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,683
  • Aug 30, 2012 10:09am Aug 30, 2012 10:09am
Here is silver live
same deal..

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


Look at the NOISE on this three day chart INCREDIBLE.

Not live- want this one to stick!
Attached Image (click to enlarge)
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,684
  • Aug 30, 2012 10:32am Aug 30, 2012 10:32am
Quoting Paras4you
Hey Beeb

How do we make this pitch fork? I am using GCI MT4 demo version for analysis but i dont have an indicator called pitch fork. Can you help me plz.

I have no idea - I use Ensign charting with Esignal feeds. I suggest you contact your vendor...

Following on from #20803 - there was no support at the LP or SP on that dip which shows the importance of testing a line before commiting to a trade...

beeb
  • #20,685
  • Aug 30, 2012 12:04pm Aug 30, 2012 12:04pm
Hi all,

Either this is it, or we will see a retracement into January. Personally, I am hoping this is it - has been a frustrating correction to play as a trader imho.

Anyway, "I think gold keep rising higher!" - to quote a certain somebody.

(..and silver too)

Bernanke has been printing all along. I suggest the markets are just waiting for a trigger. China helped the other day...should be green light for an announcement soon (tomorrow?), but who knows?
  • #20,686
  • Aug 30, 2012 4:42pm Aug 30, 2012 4:42pm
"Tropical Storm Isaac has knocked out power to nearly half of Louisiana "

I just know about the storm , and I need to know your opinions about it .

I think this news must make $ weaker , and gold in the sky .

so ,
can this news affect the decision of bernanke tomorrow ???
  • #20,687
  • Aug 30, 2012 6:14pm Aug 30, 2012 6:14pm
mate, as soon as the fed says they arn't initiating QE3, there WILL be a massive correction, gold down to 1630, silver around 29.40.. ive been holding silver and gold for several days now, all this nonsense and 'hopium' are just a big wank, and idiots are buying the BS. im very deep into silver and gold, with large fortunes sitting, and im just patiently waiting..
  • #20,688
  • Aug 30, 2012 6:24pm Aug 30, 2012 6:24pm
Quoting adz189
mate, as soon as the fed says they arn't initiating QE3, there WILL be a massive correction, gold down to 1630, silver around 29.40.. ive been holding silver and gold for several days now, all this nonsense and 'hopium' are just a big wank, and idiots are buying the BS. im very deep into silver and gold, with large fortunes sitting, and im just patiently waiting..
do you think we can see 1570 or 1590 ??? again .
  • #20,689
  • Aug 30, 2012 6:26pm Aug 30, 2012 6:26pm
i reckon if we are lucky we will get min 1623, but i cant see it breaching 1630 to telll you the truth., I have a TP at 1634, short from 1666, 1674.
  • #20,690
  • Aug 30, 2012 6:33pm Aug 30, 2012 6:33pm
Quoting adz189
i reckon if we are lucky we will get min 1623, but i cant see it breaching 1630 to telll you the truth., I have a TP at 1634, short from 1666, 1674.
thanks for sharing ,
  • #20,691
  • Aug 30, 2012 8:55pm Aug 30, 2012 8:55pm
Quoting XTrade
Agreed. no good for discussion, will only cause arguments. This is a worldwide forum.
sorry for the disturbance, will not repeat it again.

Anyway, i saw 2 double bottom at 1650. Price support at 1650 seems to be strongly held. Jackson hole meeting will hold the key point here. I believe on the technical side that we will be having outbreak to the upside if 1650 support is not taken soon until Bernanke speech. -just giving my 2 cents-

What do you guys think?

Thanks

R
Attached Image (click to enlarge)
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  • #20,692
  • Aug 30, 2012 9:17pm Aug 30, 2012 9:17pm
It's currently sitting on the 200 MVA.
  • #20,693
  • Aug 31, 2012 1:51am Aug 31, 2012 1:51am
Yes, 1650 looks good, now in chart below perhaps a small edition 5 usd Higher ay 1655 could make that a nice lil' support area.

Quoting llrickkll
sorry for the disturbance, will not repeat it again.


Silver hed so far by 32.20 but needing upward recovert.... ..


Anyway, i saw 2 double bottom at 1650. Price support at 1650 seems to be strongly held. Jackson hole meeting will hold the key point here. I believe on the technical side that we will be having outbreak to the upside if 1650 support is not taken soon until Bernanke speech. -just giving my 2 cents-

What do you guys think?

Thanks

R
Attached Image (click to enlarge)
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,694
  • Aug 31, 2012 4:35am Aug 31, 2012 4:35am
Usually when EUR is up, XAU will go up as well. Not it seems that EUR is shooting but XAU is slowing down.
  • #20,695
  • Aug 31, 2012 4:39am Aug 31, 2012 4:39am
Given that the thin August markets are waiting for any news out of JH and that it is a NY holiday on Monday, it is worth remembering that you don't have to trade EVERY move. Having NO position is also a position....

beeb
  • #20,696
  • Aug 31, 2012 4:58am Aug 31, 2012 4:58am
Channel seems to be narrowing between 1650 and 1660. Letīs see what happens...
  • #20,697
  • Aug 31, 2012 6:49am Aug 31, 2012 6:49am
sorry for asking, still learning. how will it affect the XAU? I saw alot of divergence in less than 24 hours. last one was 9hours before, then 5 hours before that, and another 5 hours before that. The latest one gave about +60pips in last 9 hours.
  • #20,698
  • Aug 31, 2012 6:53am Aug 31, 2012 6:53am
Quoting tradechamp
sorry for asking, still learning. how will it affect the XAU? I saw alot of divergence in less than 24 hours. last one was 9hours before, then 5 hours before that, and another 5 hours before that. The latest one gave about +60pips in last 9 hours.
I apologize I posted those on the wrong thread! XAU is an instrument on its own. I was analyzing equities. The correlation between them is surprisingly 0.16% lol.
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  • #20,699
  • Aug 31, 2012 8:10am Aug 31, 2012 8:10am
Quoting llrickkll
sorry for the disturbance, will not repeat it again.

Anyway, i saw 2 double bottom at 1650. Price support at 1650 seems to be strongly held. Jackson hole meeting will hold the key point here. I believe on the technical side that we will be having outbreak to the upside if 1650 support is not taken soon until Bernanke speech. -just giving my 2 cents-

What do you guys think?

Thanks

R
Triple bottom spotted at 1650 level, PA now at 1661 as im typing. I hope Bernanke will help the gold outbreak this time .
Attached Image (click to enlarge)
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  • #20,700
  • Aug 31, 2012 8:52am Aug 31, 2012 8:52am
whoa!! what happened??
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