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

  • #22,061
  • Jan 3, 2013 5:01am Jan 3, 2013 5:01am
Where is a link to the printing in Japan? If that is happening I would buy U/JPYen and GBP/Yen
Quoting vaidas7777
So what a plan should be for today? Buy? Because tomorow Japan will expand printing? Sell? Because fiscal cliff is over?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,062
  • Jan 3, 2013 5:02am Jan 3, 2013 5:02am
Looks like it hit the daily pivot and bounced a bit - probably another entry to come chart is Aussie D1
Quoting XTrade
Anyone trading KIWI AND AUSSIE? They look like they might have the technical steam to further break north. Thinking of getting long aussie again if there is pullback. Ottherwise again from a technical standpoint, dont have a chart right now, it looks like aussie has established support after last push up and is ready for a further break perhaps to .0600 first.
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,063
  • Jan 3, 2013 5:04am Jan 3, 2013 5:04am
I'ts harder as you go lower, learn the daily and you can trade it all "well basically" but learn the daily first.
Quoting scfx
one thing i have learned from trying to trade Gold is its very hard under the daily time frame.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,064
  • Jan 3, 2013 7:43am Jan 3, 2013 7:43am
Quoting XTrade
Where is a link to the printing in Japan? If that is happening I would buy U/JPYen and GBP/Yen
If you like the Aussie then go long AUD/JPY and you'll also earn $2.0869 US$ per day per $25,000 lot in carry which is as much as you can make without playing the exotics. I prefer to enter on pull-backs though so I'm looking at Euro and Pound pairs today.

Other than that the new Japanese government plans heavy currency devaluation, I hadn't read anything about it becoming official tomorrow, but I hadn't been reading a lot of Forex news recently. It's not on any calendar but that's not unusual for Japanese announcements.

Regardless, like the Fed's Q-Unlimited, the market has already priced it in for the most part so the reaction to any official reaction, including the metals, will likely be muted.
You can always make money tomorrow provided you don't lose it today.
  • #22,065
  • Jan 3, 2013 8:11am Jan 3, 2013 8:11am
Quoting XTrade
Looks like it hit the daily pivot and bounced a bit - probably another entry to come chart is Aussie D1
If you're trading daily I have AUD/USD right at a decision point. Top indigo line goes back to the high in 2011. RSI has left support so I'd use the 14/40 EMA, opening range, or break out strategies for an entry point.

Attached Image (click to enlarge)
Click to Enlarge Name: AUD.USD daily.jpg Size: 378 KB



Gold-wise (yes, I know this is a metal forum) my target decision point is $1670 -- 100% retrace of yesterday's move, pivot line going back to May, and pretty obvious resistance (now support) trend line over the past week; though where gold is right now between $1675-$1678 is support/resistance going back to May as well as being the 23.6% retracement of the full move down to $1635 but the US open in a few minutes should (hopefully) clarify which way gold is heading.
You can always make money tomorrow provided you don't lose it today.
  • #22,066
  • Jan 3, 2013 8:18am Jan 3, 2013 8:18am
Quoting KADC
If you're trading daily I have AUD/USD right at a decision point.

Agree - lotta vehicles at/near support or resistance.....Here's my aussie daily:

http://www.screencast.com/t/wd4XS64gon

If you are not scalping it might be prudent to get this shortened holiday week out of the way - NFP tomorrow.....

beeb
  • #22,067
  • Jan 3, 2013 8:21am Jan 3, 2013 8:21am
Quoting KADC
If you like the Aussie then go long AUD/JPY

I have audjpy daily at potential (untested) resistance.....pm if you want a chart - it ain't for general consumption

beeb
  • #22,068
  • Jan 3, 2013 10:45am Jan 3, 2013 10:45am
I was trading today gold, so one support level is very significant - 1675. Very strong level.
  • #22,069
  • Jan 3, 2013 5:36pm Jan 3, 2013 5:36pm
Hahaha what the hell..when everybody expect gold will continue the bull momentum but suddenly big loss..the fed expect buying bond will be end on 2013.is it big sign that gold no more bull power and gold will be turn bearish for this year?
  • #22,070
  • Jan 3, 2013 8:45pm Jan 3, 2013 8:45pm
I closed my long when I realised it was a false break .
  • #22,071
  • Jan 3, 2013 10:53pm Jan 3, 2013 10:53pm
Quoting lotusbuddha
Nice charts KM, i have the same set up.
What do u think about a shorting @ $1690, SL @ 1705. TP1@ 1665, TP2 @ 1655?
You certainly made the right call. Well done. I was too tired to trade today or I might have joined you, though with slightly different targets.

I took my $10 break out to the upside yesterday then exited, including my buy-and-hold triple ETFs (NUGT, UGLD, USLV) which I'd decided to place a stop-loss on just in case. This insomnia must end so I can start trading again. (I won't trade tired -- it always ends up badly for me.)
You can always make money tomorrow provided you don't lose it today.
  • #22,072
  • Jan 3, 2013 11:52pm Jan 3, 2013 11:52pm
Quoting KADC
You certainly made the right call. Well done. I was too tired to trade today or I might have joined you, though with slightly different targets.

I took my $10 break out to the upside yesterday then exited, including my buy-and-hold triple ETFs (NUGT, UGLD, USLV) which I'd decided to place a stop-loss on just in case. This insomnia must end so I can start trading again. (I won't trade tired -- it always ends up badly for me.)
I used to get insomnia when I was in the military. Down a couple Nyquil with a few beers. That'll knock ya out.
Get money, don't let money get you. @kauaiforex
  • #22,073
  • Jan 4, 2013 1:52am Jan 4, 2013 1:52am
Me too, not Euro just GBP and Aussie.

I think this MIGHT be a sufficient pullback zone to enter long both pairs. Cable is certainly oversold.

But, look at the further dip on Aussie in the two dailies below.

I have added the trade on a demo for fun. I may go in live though if I like what I see.

Gold just looks confused by this three day line chart..

Oh and attached a cable idea also. These are both bullish only view scenarios using normal buying patterns with one big push in each,
(in the cable chart I had outlined support and resistance for a 420 pip range. Guess where the price is now! SmACK dab in the middle appx 200 off the top orange line where it was last rejected before the big dip, being that on a great day cable can clear 200 pips,IDK there may be a very low risk high reward trade here.

See the lines on the charts for exlanation.

The stop is obvious and that might try to get run, well below the ----- yelo line. Now, there also could be a head fake north, run on stops, then a huge reversalll day, all just ideas. Please excuse spelling and grammer errors if ay in this post, looking at chart while typing.

Quoting KADC
If you like the Aussie then go long AUD/JPY and you'll also earn $2.0869 US$ per day per $25,000 lot in carry which is as much as you can make without playing the exotics. I prefer to enter on pull-backs though so I'm looking at Euro and Pound pairs today.

Other than that the new Japanese government plans heavy currency devaluation, I hadn't read anything about it becoming official tomorrow, but I hadn't been reading a lot of Forex news recently. It's not on any calendar but that's not unusual for Japanese announcements.

Regardless, like...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud buy 3.GIF Size: 55 KB
Click to Enlarge Name: cable idea 1 13.GIF Size: 60 KB
Click to Enlarge Name: cable idea 1 13 2.GIF Size: 48 KB
Click to Enlarge Name: gold confused.GIF Size: 55 KB
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,074
  • Jan 4, 2013 2:00am Jan 4, 2013 2:00am
Now obviously the alternate to all this is a continued push down before a bottom forms likely in the area of old support.
...................
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,075
  • Jan 4, 2013 2:05am Jan 4, 2013 2:05am
I don't understand your post, you start off as if you have a firm bias, mention something about bonds and 2012, then make a claim, and No 20 USD is a healthy trading day not a big loss that would be several hundred in a week. not one over many,

Then you leave off with a question mark. SO are you trying to ask something or tell something, if you are telling us what are you basing this analysis on, the fact that we are in a 10 year bull cycle?

Quoting kamen
Hahaha what the hell..when everybody expect gold will continue the bull momentum but suddenly big loss..the fed expect buying bond will be end on 2013.is it big sign that gold no more bull power and gold will be turn bearish for this year?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,076
  • Jan 4, 2013 3:21am Jan 4, 2013 3:21am
Quoting XTrade
I don't understand your post, you start off as if you have a firm bias, mention something about bonds and 2012, then make a claim, and No 20 USD is a healthy trading day not a big loss that would be several hundred in a week. not one over many,

Then you leave off with a question mark. SO are you trying to ask something or tell something, if you are telling us what are you basing this analysis on, the fact that we are in a 10 year bull cycle?
Some FOMC members want to end the $85 billion/month bond buying program before the end of 2013 and there was also talk of raising interest rates earlier than anticipated. Apparently FOMC members discussing alternatives is now tantamount to "actually going to happen" and this is why the dollar suddenly surged and gold fell yesterday at 2pm when the FOMC minutes were released.
You can always make money tomorrow provided you don't lose it today.
  • #22,077
  • Jan 4, 2013 4:02am Jan 4, 2013 4:02am
I think this is a "shake off" the longs and maybe some profit takings before NFP & unemployment rate being released today...

trade Safe
  • #22,078
  • Jan 4, 2013 4:08am Jan 4, 2013 4:08am
can i get suggested from trader for my condition todays???
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd.jpg Size: 433 KB
ahdts
  • #22,079
  • Jan 4, 2013 4:09am Jan 4, 2013 4:09am
Usually Feds want dollar to be weak, but yesterdays FOMC meet made dollar stonger and from last couple of month we could see employment report being manipulated, So we can get real employment report today which might help Gold to go bull.
  • #22,080
  • Jan 4, 2013 4:21am Jan 4, 2013 4:21am
Spot Euro gold looks like its targeting the June/Dec low of €1238 which is about another €20 drop, or the May low of €1202 (also the 27.2% Fibonacci extension) which is roughly a €60 drop, the latter more-or-less lining up with $1560 for US spot gold where the 61.8% extensions sits as well as being clear support. The May low stands below as the last line of defence before this "correction" becomes a genuine change in trend.

We'll see shortly if $1635 holds as that's where gold is as I write this.

Attached Image (click to enlarge)
Click to Enlarge Name: US gold vs Euro gold.jpg Size: 214 KB
You can always make money tomorrow provided you don't lose it today.
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