XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1142 | Metals Mine

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

  • #22,821
  • Feb 20, 2013 1:57pm Feb 20, 2013 1:57pm
Quoting elekboy
just for your info......

could u explain how and when to use this data ?
  • #22,822
  • Feb 20, 2013 2:06pm Feb 20, 2013 2:06pm
@pluvius yeah i attended the webinar, talks fast that brit he does.
New insight into pitchforks and lowering a parallel line. but his strategy is far from mine, might look into it at a later stage.
now to wait for these two to show signs of a long, im out of all positions
  • #22,823
  • Feb 20, 2013 3:01pm Feb 20, 2013 3:01pm
Quoting powermatrix
could u explain how and when to use this data ?
Guess its trying to say that if the price of gold drops to 1500, it will be barely enough to pay of the taxes and so on and so forth.

Provided that this price is updated... I was asking about the price few pages back to mine gold, and stating that it wont make sense for the price to be below the expense.
  • #22,824
  • Feb 20, 2013 3:15pm Feb 20, 2013 3:15pm
I think this is beeb in these videos from last week talking about a eurcad trade:

http://www.screencast.com/t/ZjR7ybbMY3
http://www.screencast.com/t/wrd2vDkTos
  • #22,825
  • Feb 21, 2013 2:30am Feb 21, 2013 2:30am
Can't find this ecb board meeting on a calendar. Where do you see it?

Quoting powermatrix
could u explain how and when to use this data ?
Patience is magic
  • #22,826
  • Feb 21, 2013 2:47am Feb 21, 2013 2:47am
I am very happy to buy gold and silver at these prices. the downward pressure was much stronger than I expected, but it always comes with what we see, falling $ 200 - $ 300 going fast and a long recovery after that.
  • #22,827
  • Feb 21, 2013 3:13am Feb 21, 2013 3:13am
Got the answer on the ecb site. No time nor release scheduled. So, probably no mess either
Patience is magic
  • #22,828
  • Edited 3:44am Feb 21, 2013 3:18am | Edited 3:44am
Quoting Pluvius
1) Indeed, XAG dropped from 28.68 to 28.35 and XAU dropped from 1580 to 1565. Saw a possible retracement or opportunity seekers doing a quick scalp up. . Hope you guys profit from the spike. Even if you had taken a long during the spike, the chances are that you have gotten away with a break even or even a small profit/loss (Especially for silver which went back up to 28.62!!!).

2) ECB session tomorrow, please take note.

3) Hey did anyone attended the webinar couple of hours ago by Coghlan Capital? It was finished earlier than expected in about...
in simple language , care to share your long-term and short-term thoughts on where gold is headed (bottom?) and what ur expectations are of where it is heading after that .....and the corresponding time scale ?
  • #22,829
  • Feb 21, 2013 3:22am Feb 21, 2013 3:22am
Hope this is a joke, mate: Investir is not facil and bolsa is no casino.


Quoting Albedo
I am very happy to buy gold and silver at these prices. the downward pressure was much stronger than I expected, but it always comes with what we see, falling $ 200 - $ 300 going fast and a long recovery after that.
Patience is magic
  • #22,830
  • Feb 21, 2013 3:32am Feb 21, 2013 3:32am
it has broken the down channel trendline ...... will that morph into a pinbar ? i wonder what the volume of this break is ? is it huge or mild ?

will it drop even further down till 1525 ? ( may 16th 2012 )
Attached Image (click to enlarge)
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  • #22,831
  • Feb 21, 2013 4:10am Feb 21, 2013 4:10am
Quoting Muntu
Got the answer on the ecb site. No time nor release scheduled. So, probably no mess either
usually its the same time

Thursday, 21 February 2013 Event: Governing Council meeting of the ECB in Frankfurt Time: 9 a.m. CET

No scheduled press conference from Druggy though, unlike the beginning of the month where he mentioned he will monitor the rate. But it may affect the euro which indirectly affects xag and xau. Thus, I am hopeful for another small spike. Wont be large like FOMC or NFP but hopeful for a small one.
  • #22,832
  • Feb 21, 2013 4:17am Feb 21, 2013 4:17am
Quoting TheArcher
in simple language , care to share your long-term and short-term thoughts on where gold is headed (bottom?) and what ur expectations are of where it is heading after that .....and the corresponding time scale ?
Coghlan Capital says he sees no reason to long gold or silver at this point of time and gave a cautious rough estimate but he will not comment further unless you subscribe to their services LOL. I got cheeky and asked for a trade setup and he invited to be a paying customer.

I wont reveal the cautious/rough estimate because it may mislead people as FX is very dynamic and he was kinda rushed for time during that webinar ( ended in half the time) . If u need a link for, just pm me.
  • #22,833
  • Feb 21, 2013 5:28am Feb 21, 2013 5:28am
Death Cross in XAU/USD

http://seekingalpha.com/article/1209...a-golden-cross
  • #22,834
  • Feb 21, 2013 6:15am Feb 21, 2013 6:15am
Am I missing something? XAG/USD went up from 28.53 to 28.9 in 30 minutes. Any news?
  • #22,835
  • Feb 21, 2013 6:26am Feb 21, 2013 6:26am
Oh well, maybe false alarm...
  • #22,836
  • Feb 21, 2013 6:30am Feb 21, 2013 6:30am
Quoting Pluvius
Am I missing something? XAG/USD went up from 28.53 to 28.9 in 30 minutes. Any news?
probably preparing for another big move down at unemployment ?
  • #22,837
  • Edited 6:32am Feb 21, 2013 6:31am | Edited 6:32am
Though a case could be made for $1555, there was no sudden move up as is normally the case when a "true" bottom has been reached which leaves me with my previous expectation of the 100% retracement at $1526 once the 78.6% retracement at $1584 failed to hold.

Fibonacci and weekly trend line support puts the bottom either this week or next week between $1527 and $1517 assuming $1555 does indeed fail to hold. Weekly RSI is at the lowest level since July 1999 so further downside seems unlikely once RSI support is hit without at least an intervening rally.

Attached Image (click to enlarge)
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Silver, on the other hand, is at the level where it spent so long hitting its head trying to get above last spring which is now a very strong support level making a 100% retracement down to $26.12 looking unlikely to me.

Daily trend line support is approaching the 78.6% Fibonacci and daily RSI support is very close. A bottom this week or next week should fall between $28.10 and $27.85.

Attached Image (click to enlarge)
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You can always make money tomorrow provided you don't lose it today.
  • #22,838
  • Feb 21, 2013 6:41am Feb 21, 2013 6:41am
well, my longs have fruitified, at least for now.
  • #22,839
  • Feb 21, 2013 7:02am Feb 21, 2013 7:02am
If im not wrong PMI should be released in an hours time?

US Manufacturing PMI Flash (13:58 GMT)

http://www.tradingfloor.com/posts/3-...-pmi-334053883
  • #22,840
  • Feb 21, 2013 7:06am Feb 21, 2013 7:06am
Quoting lilpip
Ok NY, bounce up from 1585-87 area noted, eyes are on sis's 29.27-28 area response for a heads up northbound as both are projected lows for the week.
Silver projected feb low is 28.87 area.

Eyes open to 28.87 and 1585-87 response
Gold breakout of weekly and monthly lows yesterday was silver.
Wed order of the day was continued trending .
Looking for a heads up to go north and silvers weekly lows 29.27 says go south and right through feb. lows of 28.85-87 will be looking at confirmation with her retest for continued trending.

Golds breakout of wed. daily lows 1593 and weekly lows 1587 area retest and response is order of the day for NY.
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