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

  • #22,381
  • Jan 17, 2013 11:20am Jan 17, 2013 11:20am
After silver hit the bottom and started looking strong today, I stopped out of my short at 31, 30, watched a bit and went long at 31, 37. Had never before changed my mind so quickly. And with small profit in both directions. After all, it had a hammer on daily yesterday right on the border of downtrendign fork I posted two times earlier today. I am not sure I am looking for 30,3 or 29 anymore . But will see.
  • #22,382
  • Jan 17, 2013 11:23am Jan 17, 2013 11:23am
i think there is a double bottom if we break through the 1687 with daily closing

i guess in the near future we will reach 1720

that's my reading for now you don't know if there is something else will happen
Attached Image (click to enlarge)
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  • #22,383
  • Jan 17, 2013 11:27am Jan 17, 2013 11:27am
Quoting prototip
gold should get ready for jump down...
And i believe soooo much, that world stocks come down at least 5% tomorrow or next week...
we will see it...

i believe that gold will jump up or down.....but the matter is when ??? anyone tell me pleaseeee...
  • #22,384
  • Jan 17, 2013 11:54am Jan 17, 2013 11:54am
i cant give any chart right now. but i see h4 forming an outside bar which will lead to another up . if it close > yesterday high. i believe it will lead to another bull to 1710 area. either way. that what i hope too because i am on bull since 1630 lol.
  • #22,385
  • Jan 17, 2013 11:58am Jan 17, 2013 11:58am
Quoting elekboy
i believe that gold will jump up or down.....but the matter is when ??? anyone tell me pleaseeee...
no thanx...
  • #22,386
  • Jan 17, 2013 12:11pm Jan 17, 2013 12:11pm
Quoting beeb
G - I really couldn't say

Not wishing to sound trite but it is resistance until it is breached and becomes support....

My way is to buy at support and to lighten or tighten stops at resistance - levels are pretty obvious on the chart and working well

Using other timeframes for context too - sorry am a bit busy

beeb
no need to be sorry.....your views are long and trade with that purpose...understood

thanks for your time ...
Wooooohooooo or Boooooohooooo
  • #22,387
  • Edited 4:34pm Jan 17, 2013 4:00pm | Edited 4:34pm
Quoting Olu
Can I argue the opposite as follows:

Germany needs money. Germany calls Gold in. Germany sells Gold. Gold drops to 500. Likely isnt it?
You can argue that, but it would be completely out to lunch.

Why would Germany remove so much gold from international financial centers if its intent was to sell?

If Germany wanted to sell, it wouldn't bother paying the shipping to repatriate the stuff...
  • #22,388
  • Jan 17, 2013 4:06pm Jan 17, 2013 4:06pm
Quoting Olu
Can I argue the opposite as follows:

Germany needs money. Germany calls Gold in. Germany sells Gold. Gold drops to 500. Likely isnt it?
http://www.zerohedge.com/news/2013-0...-gross-gets-it

Follow up that article with...

http://www.zerohedge.com/news/2013-0...ns-german-gold
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #22,389
  • Jan 17, 2013 4:12pm Jan 17, 2013 4:12pm
Quoting Wheels
You can argue that, but it would be completely out to lunch.

Why would Germany remove so much gold from international financial centers if its intent was to sell.

If Germany wanted to sell, it wouldn't bother paying the shipping to repatriate the stuff...
ou are right Wheels. I thought about the fact that trading doesnt require psysical location and immediate prescence. However if committments are going to be made and trust is required then shipping is the only answer. If in collecting the gold germany is told that there is no gold then gold will go to 20000. Hope I am in that long trade. It will be one massive gap up...

Olu
If you think you can or cannot do it you are correct
  • #22,390
  • Jan 17, 2013 5:11pm Jan 17, 2013 5:11pm
Quoting gnomoneey
no need to be sorry.....your views are long and trade with that purpose...understood

thanks for your time ...
G - all I'm trying to do is use the most accurate technical analysis method that I have found to advantage.

Nobody "knows" where price will be but TA allows us to make the best possible estimate of what may happen. By eliminating the unlikely you are left with the probable. You then have to judge what is tradeable.

Forks give me lines of likely support and resistance and I use what has previously happened along those lines to gauge what is likely to happen in the future. I am extremely unlikely to trade a line unless it has previously been tested.

I tend to use different timeframes to give me context and always use tight stops. Even a swing trade of several weeks or months will probably only need a $10 or so stop because of the accuracy of the methodology...

Hope that helps a bit - it's been a long day and I need some shut eye....

beeb

This guy is a good chartist imho and worth a read :

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/17_Gold_May_Now_Be_Poised_For_A_Staggering_$600+_Surge.html
  • #22,391
  • Jan 17, 2013 5:46pm Jan 17, 2013 5:46pm
Finally ... my TP filled @ 1695
let the chart to be your chauffeur ... -Forexmnstr-
  • #22,392
  • Jan 17, 2013 6:01pm Jan 17, 2013 6:01pm
Quoting XTrade
For those that are too lazy or do not wish to look at my simple request, here are the rules.

0. SCALPING. IT is Unnecessary to post in at 1980 0ut @ 81.
1. NO WILD PUNTING. =throwing out a call which makes no sense without any backup ie: chart
2. Please refrain from making unsubstantiated claims.
3. POST CHARTS - "A Picture is worth 1000nd words"
4. Provide REASONS with BACKUP For your CALLS
5. TREAT OTHERS AS YOU WOULD LIKE TO BE TREATED (CONSIDER THIS THE GOLDEN RULE)
6. IF YOU DON'T KNOW - ASK.
7. Warnings will...
I thought a reminder was in order, and an addendum:

0. (a) Posting your out seven hours after it would have triggered is doubly unnecessary.
You can always make money tomorrow provided you don't lose it today.
  • #22,393
  • Jan 18, 2013 1:14am Jan 18, 2013 1:14am
.
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  • #22,394
  • Jan 18, 2013 1:52am Jan 18, 2013 1:52am
Excellent perspective Archer. Thanks

Olu
If you think you can or cannot do it you are correct
  • #22,395
  • Jan 18, 2013 3:53am Jan 18, 2013 3:53am
Went long at 31.82 ( my platform has 6 cents spread) based on gold movement and this short term fork tested 3 times as resistance already on 1h scale, and with long point A (practically coincides with shorter "correct" fork.) but not sure how long i will be long. Target above 50 d MA ( 30,905 on my Netdania, was a bit exceeded already today earlier.
http://img255.imageshack.us/img255/7...ge1newfork.png
  • #22,396
  • Jan 18, 2013 4:38am Jan 18, 2013 4:38am
Quoting ivars
Went long at 31.82 ( my platform has 6 cents spread) based on gold movement and this short term fork tested 3 times as resistance already on 1h scale, and with long point A (practically coincides with shorter "correct" fork.) but not sure how long i will be long. Target above 50 d MA ( 30,905 on my Netdania, was a bit exceeded already today earlier.
http://img255.imageshack.us/img255/7...ge1newfork.png
Hi ivars

Why we can't see your chart ? Is there any problem?

Best Regards.
Fishcoo
  • #22,397
  • Jan 18, 2013 4:54am Jan 18, 2013 4:54am
Quoting Fishcoo
Hi ivars

Why we can't see your chart ? Is there any problem?

Best Regards.
Fishcoo
I do not know , I see it. Will post here again:

http://img255.imageshack.us/img255/7...ge1newfork.png
  • #22,398
  • Edited 5:52am Jan 18, 2013 5:41am | Edited 5:52am
This Dec 10 fork is holding up as well so far today:

http://img694.imageshack.us/img694/4...2forkdec10.png
But EUR does not look convincing, so DXY (USDx) may move up into silver prices a bit.
  • #22,399
  • Edited 7:43am Jan 18, 2013 7:29am | Edited 7:43am
Was stopped out at 31,7 bid, went back in immediately. Little mistake in last fork lines( above) , my soft is not so accurate. The support was exactly on parallel line below top line, at 31,682 bid. Lets see now if it holds again. Put SL on same 31,7 bid. No TP so far, I hope above 50 d MA (30,905)
  • #22,400
  • Jan 18, 2013 7:46am Jan 18, 2013 7:46am
Hey guys, I'm long silver with a target of $49 reached by mid of this year. I think silver prepares for quite a huge up move and a lot of short covering...
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