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

  • #21,701
  • Nov 28, 2012 7:42am Nov 28, 2012 7:42am
Quoting gnomoneey
i'm happy i caught half of the move from sundays high to todays low..tp triggered and was thinking before the trigger it might drop to 1725 but system took me out...went for breaky and was about to enter and boom it dropped like a rock....
still happy with $15 profit from short....
Wow...that's very lucky of you.
  • #21,702
  • Nov 28, 2012 7:43am Nov 28, 2012 7:43am
Quoting beeb
Nice one g

opex is "that time of the month"....

beeb
where to find that info?
thanks,
G
Wooooohooooo or Boooooohooooo
  • #21,703
  • Nov 28, 2012 7:44am Nov 28, 2012 7:44am
Quoting multi888
Wow...that's very lucky of you.
thanks
Wooooohooooo or Boooooohooooo
  • #21,704
  • Nov 28, 2012 7:48am Nov 28, 2012 7:48am
Quoting gnomoneey
where to find that info?
thanks,
G
google
  • #21,705
  • Nov 28, 2012 7:50am Nov 28, 2012 7:50am
Quoting beeb
google
Wonder how much time it will take to go back to the position from where it fell..
Does price recover generally on an opex day...??
  • #21,706
  • Nov 28, 2012 7:56am Nov 28, 2012 7:56am


Quoting beeb
google
Wooooohooooo or Boooooohooooo
  • #21,707
  • Nov 28, 2012 7:58am Nov 28, 2012 7:58am
Quoting gnomoneey
i'm happy i caught half of the move from sundays high to todays low..tp triggered and was thinking before the trigger it might drop to 1725 but system took me out...went for breaky and was about to enter and boom it dropped like a rock....
still happy with $15 profit from short....

love ur ' pink panther ' chart ..lol ..

Inserted Video
  • #21,708
  • Nov 28, 2012 8:01am Nov 28, 2012 8:01am
FXstreet.com (Córdoba) - Gold slumped, dropping over $25 within the last hour as risk sours and the USD firms amid concerns US lawmakers would be unable to reach a budget agreement needed to avoid the 'fiscal cliff'.

The yellow metal broke below the $1735 area and accelerated to its lowest in nearly 2 week of $1711 an ounce before finding support. At time of writing, gold futures trade at $1713.50 an ounce, recording a 1.6% daily loss. On the downside, next major support comes at $1704/1705.5, Nov 15/16 lows.

There is market talk of an error in rolling into next period, being blamed by the sharp and quick fall.
  • #21,709
  • Nov 28, 2012 8:05am Nov 28, 2012 8:05am
Quoting TheArcher
love ur ' pink panther ' chart ..lol ..

http://www.youtube.com/watch?v=9OPc7MRm4Y8
it is what it is....
Wooooohooooo or Boooooohooooo
  • #21,710
  • Nov 28, 2012 8:07am Nov 28, 2012 8:07am
Quoting multi888
There is market talk of an error in rolling into next period, being blamed by the sharp and quick fall.
Wouldn't you just know it - not "gaming" then.....

beeb
  • #21,711
  • Nov 28, 2012 8:11am Nov 28, 2012 8:11am
Still watching this GC Daily - 1704 area looks interesting:

http://www.screencast.com/t/kBBbVKPLo

beeb
  • #21,712
  • Nov 28, 2012 8:29am Nov 28, 2012 8:29am
Silver certainly looks like expiry action but gold seems a little overdone.

For gold, the 100 DMA, 38.2% Fibonacci, and rising support trend line are converging around the same area which is where I am putting my buy orders. I'm also watching the daily RSI to hit rising support for confirmation.

Attached Image (click to enlarge)
Click to Enlarge Name: US daily gold.jpg Size: 458 KB
You can always make money tomorrow provided you don't lose it today.
  • #21,713
  • Nov 28, 2012 8:39am Nov 28, 2012 8:39am
Quoting beeb
Still watching this GC Daily - 1704 area looks interesting:

http://www.screencast.com/t/kBBbVKPLo

beeb
I agree, but I'd like RSI confirmation. Then again, that's only a $10 range so perhaps I shouldn't be trying to squeeze every last dollar out of this move.
You can always make money tomorrow provided you don't lose it today.
  • #21,714
  • Nov 28, 2012 8:47am Nov 28, 2012 8:47am
hey guys,
I was long from 1716, I closed some at 1746 and other I put SL at 1727.6.
Unfortunately, there supposte to be huge slippage and on 1 broker(AvaFX) my SL got trigggered at 1719.5. So huge loss there for me.
On the other hand, Alpari broker, got 0 slippage.

Anyone else having any slippage in this area ? Maybe we can compare a little bit brokers/slippage in this case
  • #21,715
  • Nov 28, 2012 8:49am Nov 28, 2012 8:49am
Quoting KADC
I agree, but I'd like RSI confirmation. Then again, that's only a $10 range so perhaps I shouldn't be trying to squeeze every last dollar out of this move.
1705.49 is low....is this it or are we going down somemore?

unless ez gives more good news or usd bad news then gold should keep dropping
Wooooohooooo or Boooooohooooo
  • #21,716
  • Nov 28, 2012 8:52am Nov 28, 2012 8:52am
Quoting beeb
Wouldn't you just know it - not "gaming" then.....

beeb
what does that mean in simple English ... please ...
  • #21,717
  • Nov 28, 2012 8:53am Nov 28, 2012 8:53am
Quoting gnomoneey
1705.49 is low....is this it or are we going down somemore?

unless ez gives more good news or usd bad news then gold should keep dropping
No idea g - numbers in a few mins....

Watch the charts for clues - the close relative to 1704 should be telling - see chart above

Remember that there are people trolling for stops and trying to paint a picture...

beeb
  • #21,718
  • Nov 28, 2012 8:54am Nov 28, 2012 8:54am
Quoting TheArcher
what does that mean in simple English ... please ...
i think he means it was manipulated as he said might happen since its option expiry day
Wooooohooooo or Boooooohooooo
  • #21,719
  • Nov 28, 2012 9:03am Nov 28, 2012 9:03am
Quoting gnomoneey
1705.49 is low....is this it or are we going down somemore?

unless ez gives more good news or usd bad news then gold should keep dropping
Markets are falling across the board so gold could very well keep falling if this fall turns into a crash. There is always significant risk when trading which is why I recommend being overly cautious. It is better to miss an opportunity to make profit than lose money.

That said, it is very rare (possibly unprecedented) for gold to be lower in December than it was in November, so barring a market crash I think the rising trendline will hold as support.
You can always make money tomorrow provided you don't lose it today.
  • #21,720
  • Nov 28, 2012 9:10am Nov 28, 2012 9:10am
BNN (Business News Network) said there is an investigation of a possible "computer error" at a major bank with regard to rolling over options. The tendency of the markets is to sell the rumour and buy the fact, so if this was caused by an "error" expect an equally quick (and equally unpredictable) reversal which will coincidentally pay off tremendously for the bank in question as "errors" like this always do.
You can always make money tomorrow provided you don't lose it today.
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