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

  • #21,341
  • Oct 18, 2012 12:59pm Oct 18, 2012 12:59pm
The motherboard has left this planet and I am on the ipad now which sucks...luckily i have done all my buying in time and now i can just sit and watch the show but it seems i cannot participate with anything on this thread, at least not until the new motherboard arrives...but I got you and beep so that's enough .
  • #21,342
  • Oct 18, 2012 1:28pm Oct 18, 2012 1:28pm
As long as you articulate your thoughts feel free to post away - you are fine buddy!


Xt-

PS at least you have the "pad"!!!!

Quoting musclemike
The motherboard has left this planet and I am on the ipad now which sucks...luckily i have done all my buying in time and now i can just sit and watch the show but it seems i cannot participate with anything on this thread, at least not until the new motherboard arrives...but I got you and beep so that's enough .
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,343
  • Oct 18, 2012 10:50pm Oct 18, 2012 10:50pm
Quoting XTrade
Post it please.

I am having tech difficulties and cannot chart, also working on a design.
I shorted @1785 and 1750
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  • #21,344
  • Oct 19, 2012 12:27am Oct 19, 2012 12:27am
Gold situation & expectation still continues.
http://www.forexfactory.com/showthre...71#post6114271
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #21,345
  • Oct 19, 2012 12:49am Oct 19, 2012 12:49am
Quoting fontu
Gold situation & expectation still continues.
http://www.forexfactory.com/showthre...71#post6114271
fontu
Looks like we gonna have to make a trip down again...
  • #21,346
  • Oct 19, 2012 2:30am Oct 19, 2012 2:30am
Quoting fontu
Gold situation & expectation still continues.
http://www.forexfactory.com/showthre...71#post6114271
fontu
So is that like the thread for the Doomsday fan club?
Education has its reward, ignorance has its price.
  • #21,347
  • Oct 19, 2012 7:58am Oct 19, 2012 7:58am
Hey everyone

Could you please but up your analysis on Silver too. Its been long since anyone have put their analysis on Silver.
  • #21,348
  • Oct 19, 2012 8:22am Oct 19, 2012 8:22am
@ Kadc - did you see my post to you on netdania problems yesterday?

@ all-

I can't believe we are still @ appx 1740 really what 1737.... pathetic.

Gold is stuck. AND needs to get unstuck.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,349
  • Oct 19, 2012 8:29am Oct 19, 2012 8:29am
response posted

http://www.forexfactory.com/showthre...72#post6116072

I'll save you the trouble of visiting the thread.

"Fontu be aware of the huge cup that has formed on the weekly before this little correction. Now we may be in the handle period which I would create a slight downchannel possibly to the 1700 are + or - 25 usd for spikes.

The pattern would suggest a breakout to come north after the handle completes which would in turn and time obliterate 1900.

BTW: there are no supporting fundamentals to support any move to 1032 or -740 usd

The uptrend on the weekly is still well intact. '

XT-
Quoting fontu
Gold situation & expectation still continues.
http://www.forexfactory.com/showthre...71#post6114271
fontu
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,350
  • Oct 19, 2012 8:30am Oct 19, 2012 8:30am
SURE - but silver is in the same boat as gold right now bobbing up and down in a tight range. I'll get a chart up.

Quoting Paras4you
Hey everyone

Could you please but up your analysis on Silver too. Its been long since anyone have put their analysis on Silver.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,351
  • Oct 19, 2012 9:00am Oct 19, 2012 9:00am
Basically, as suggested in several links posted this week, had gold and silver
taken out resistances @ the following

Gold: 1800
Silver: 35.oo (not in articles so don't look)

(beeb had posted, kadc posted and myself links to these. )

There is no significant resistance above these areas except for much higher price points,

had gold taken 1800 on speculation alone the price could have easily jumped to 1900 if not above, in silver's case had it taken 35.oo that would have opened up the potential for an almost 10 USD rise to 43, to follow. as shown in charts.

Some longs exited due to the failed breaches, as well as some shorts were squeezed out by stops getting hit in the mentioned areas.

There are some - in article's that don't want such a move to occur just yet - some not at all. It depends on who we are discussing, large cap specs, central banks, countries, commercials, bullion banks..

Central banks and countries have a vested interest in Gold especially due to the fact that they own literally tons of it.

------------------------------------------------

in a sense it is better the price is correcting instead of blowing itself out, because then we might be subject to the all too familiar violent crash correction.

-----------------------------------------------
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,352
  • Oct 19, 2012 9:10am Oct 19, 2012 9:10am
The downtrend line with origin of 35.00 appx is still intact. It looks a bit too steep to maintain itself for much longer.

The possibility of a test of 30 where there is support as well as another BROKEN DTL on the daily and weekly IS possible.

Here I would expect a reversal. As of now, we are trending slightly lower each day in a correction phase of the last move up.

Both gold and silver are showing potential cup and handle patterns - now as earlier stated we are in the "handle phase" should the pattern succeed, look out above.

"Definition of 'Cup and Handle'
A pattern on bar charts resembling a cup with a handle. The cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern has low trading volume. It can be as short as seven weeks and as long as 65 weeks.

As the stock comes up to test the old highs, the stock will incur selling pressure by the people who bought at or near the old high. This selling pressure will make the stock price trade sideways with a tendency towards a downtrend for four days to four weeks... then it takes off. Below is an example of a cup and handle chart pattern:

Read more: http://www.investopedia.com/terms/c/cupandhandle.asp#ixzz29knJzsnA"

In the charts below, you can see the larger range in silver that tops @ 35 with a bottom of 25 appx and a mid pivot of appx 30.

Long term the charts are both bullish and the uptrend remains intact. Yet bulls will have to exert some force soon or we could shift down too far to make the handle successful, likely staying in a wide range.

Silver RSI showin potential double bottom and is in oversold territory.

Also you will see the cup and handle example below:
http://i.investopedia.com/inv/dictio...and_Handle.gif
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,353
  • Oct 19, 2012 9:15am Oct 19, 2012 9:15am
Quoting XTrade
Thanks for the comprehensive re:

Now, I noticed you are using netdania as well, I am having problems with some of the applets and was wondering if you are experiencing any.

Right now, java does not even seem to be working, thus I can't open my charts from them at least.....

I sent an email, likely won't hear anything till late night due to the fact that they are in Denmark.
I haven't been able to access the NetDania interactive charts on GoldPrice.org on my laptop (WinXP) for a couple of weeks now, but they still work fine on my desktop (Win7). I had a problem with something once and they got right back to me the next day, but I wrote them about this when the problem occurred and I haven't heard back from them yet.

Quoting XTrade
Canada is limited on brokers? Can't you just use any of the UK brokers if you like? Not that I'm saying to change.
In Canada, and I assume most countries, you can only trade through a broker licensed to trade in your country. Canadian rules require a brokerage to maintain an actual, physical office as well as other limitations to "protect" Canadian investors, though what the really meant was to protect the profits of existing Canadian brokerages from having to compete globally.

It should be a crime how much most Canadian brokerages get away with charging their customers.

For anyone in Canada without $25,000 to set up an account with Interactive Brokers, Oanda would probably be the best choice for Forex trading, and Questrade is the only Canadian discount brokerage that offers RRSP, TFSA, and RIF accounts as well as the ability to own physical gold as part of your portfolio.

With regard to Questrade, I'd like to say I have concerns about Questrade's accounting practices in case anyone else here has a Questrade account or is considering opening one, particularly since they advertise on BNN (the Canadian business news channel) promoting physical gold ownership which may be of interest to people here in this forum. I have found several discrepancies between the portfolio and the trade history of my mother's account and they have yet to adequately explain to me what the problem is. They also didn't automatically execute a 2:1 stock split, and after I advised them of it, they did a manual price adjust to the wrong price and two weeks and a dozen e-mails later it still isn't correct.
You can always make money tomorrow provided you don't lose it today.
  • #21,354
  • Oct 19, 2012 9:19am Oct 19, 2012 9:19am
Oddly enough the 50 week SMA, which had previously capped the price @ 35 on prior attempts it is now resting below @ appx 31/30 which could suggest enforced support in that area. Should we reach it.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,355
  • Oct 19, 2012 9:26am Oct 19, 2012 9:26am
@ Kadc - thanks.

Up until the Dodd - Frank bill was passed in the US we were allowed to trade with UK or other worldwide brokers, now we cannot.

FIFO was eliminated before the bill. There is no "hedging" or opposing positions on the same pair trading allowed anymore and the leverage has been reduced from 100:1 to 50:1 which I actually suggest everyone try trading @.

It just takes more margin to open the same trade and make the same profit.

Though if you are a newbie and have a tendency to open up too many trades and margin call your account, you will be left able to trade again instead of wiped out.

Nor do brokers allow your account to go negative and there is no spread betting. In fact there are very few brokers that offer Gold and Silver in the US anymore FX wise and that leverage is 1:1 now which is crazy.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,356
  • Oct 19, 2012 9:28am Oct 19, 2012 9:28am
Quoting XTrade
@ Kadc - did you see my post to you on netdania problems yesterday?

@ all-

I can't believe we are still @ appx 1740 really what 1737.... pathetic.

Gold is stuck. AND needs to get unstuck.
Just a minute ago to the first and I agree to the second.

Having said that, USD just started moving up as I am writing this now and...

...nope. The buyers came back in and halted the move right back were it's been for the past several hours, and silver didn't even make it that far.

However, it's Friday, and there's usually some kind of resolution on Fridays so we can only hope today is no exception.
You can always make money tomorrow provided you don't lose it today.
  • #21,357
  • Oct 19, 2012 9:58am Oct 19, 2012 9:58am
Quoting XTrade
@ Kadc - thanks.
You're certainly welcome.

Quoting XTrade
Though if you are a newbie and have a tendency to open up too many trades and margin call your account, you will be left able to trade again instead of wiped out.
I have an interesting anecdote about margins:

I fully leveraged my account this summer and I wasn't allowed to exit my positions because the positions I had taken in the pairs I was trading cancelled parts of each other out (i.e. short both EUR/USD and USD/JPY makes the USD value null -- I'm not sure if this is possible with a non-ECN broker) so exiting one would actually increase my margin. I was on with tech support and he was going on and on explaining why I couldn't exit any positions, but couldn't offer any solution as to how to resolve my problem.

I ended up having to let the system auto-close all my positions and learned a valuable lesson about the hazards of going all the way to the margin limit while taking advantage of currency cancellations.

...

Back to trade regulations, regardless of what country your brokerage is in, trade vehicles are still governed by the rules of the issuing country.

A good example would be there is no limitation to day trading Canadian stocks, but SEC requirements limit day trading of US stocks, defined as the buying and selling of any stock within 5 business days, to four such trades unless you have at least $25,000 in your account (we wouldn't want to let poor people make money) even if you're a Canadian using a Canadian brokerage.

For anyone unaware, if you make a fifth such trade, your account will automatically be frozen and your assets held for a period of 90 days or until you can raise the value of your account to $25,000.

The reason cited for the creation of this rule was to "protect" smaller portfolio investors.

...protect them from making profits so they can grow to become large portfolio investors is what they really mean.
You can always make money tomorrow provided you don't lose it today.
  • #21,358
  • Oct 19, 2012 10:29am Oct 19, 2012 10:29am
Quoting XTrade
Oddly enough the 50 week SMA, which had previously capped the price @ 35 on prior attempts it is now resting below @ appx 31/30 which could suggest enforced support in that area. Should we reach it.
It just gave way. (Of course I realize everyone in this forum is well aware of this, but I just wanted to see it in print.)
You can always make money tomorrow provided you don't lose it today.
  • #21,359
  • Oct 19, 2012 10:50am Oct 19, 2012 10:50am
Awesome! I never knew this thread existed. I love trading gold. It currently represents 90% of my trades. I find it way more exciting. Subscribing now.
  • #21,360
  • Oct 19, 2012 11:13am Oct 19, 2012 11:13am
Welcome!- been here since 2009



XT-

Quoting ZeroSumGame
Awesome! I never knew this thread existed. I love trading gold. It currently represents 90% of my trades. I find it way more exciting. Subscribing now.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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