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

  • #22,861
  • Feb 22, 2013 7:18am Feb 22, 2013 7:18am
http://img62.imageshack.us/img62/764...newforkgsr.png

GSR seems to have entered another fork (blue, up) . If so, 58 is median level ( silver 26- 26,5, gold 1500- 1535 ). Given the sequester and other things ( at least on propaganda level) happening right now around USG fiscal situation and FED actions, it should not take long to move there. May be few weeks. After that the bounce back should follow, but how strong? It will be only mid March, with a lot of things still ongoing with budget , and a war nowhere in sight.
  • #22,862
  • Feb 22, 2013 7:37am Feb 22, 2013 7:37am
Could be a support turned into resistance for gold:
http://img838.imageshack.us/img838/7...resistance.png
  • #22,863
  • Feb 22, 2013 9:30am Feb 22, 2013 9:30am
Some convincing charts by Gordon Roy-Byrne of the Daily Gold Newsletter that it's time to buy gold. (Though I'd point out his charts show it is -almost- time to buy gold and that we haven't quite hit support yet.)


http://thedailygold.com/time-to-buy-...us-metals-now/
You can always make money tomorrow provided you don't lose it today.
  • #22,864
  • Feb 22, 2013 12:44pm Feb 22, 2013 12:44pm
hi guys

from this chart we can see stochastic and rsi and macd all at buttom with a higher law

do you think its time to buy gold ??

thank you very much
Attached Image (click to enlarge)
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  • #22,865
  • Feb 22, 2013 1:01pm Feb 22, 2013 1:01pm
Quoting Bo_fajer
hi guys

from this chart we can see stochastic and rsi and macd all at buttom with a higher law

do you think its time to buy gold ??

thank you very much
If unsure, wait for NFP.
  • #22,866
  • Feb 22, 2013 1:57pm Feb 22, 2013 1:57pm
Quoting Pluvius
If unsure, wait for NFP.
Statistically, US non-farm payroll data rarely coincides with a change in trend in currencies, and even less often with gold and silver. Government policy and central bank comments/announcements are what cause markets shifts from/to risk-on/risk-aversion which is the normal fundamental (i.e. non-technical) catalyst for directional market changes.
You can always make money tomorrow provided you don't lose it today.
  • #22,867
  • Feb 22, 2013 3:36pm Feb 22, 2013 3:36pm
If its not nfp 1st march , Outcome regarding the sequester then ,this coming frii if they have decided by then ...
  • #22,868
  • Feb 23, 2013 2:45am Feb 23, 2013 2:45am
It is always time to buy, depending on your time frame. For a long term trade at this level you either put on a huge stop or wait for it to retrace, some time next week.



Quoting Bo_fajer
hi guys

from this chart we can see stochastic and rsi and macd all at buttom with a higher law

do you think its time to buy gold ??

thank you very much
Patience is magic
  • #22,869
  • Feb 23, 2013 3:44am Feb 23, 2013 3:44am
Guys ... just wait until price hits under 1560 to buy GOLD ... leave it for the long run if you want to get rich ...
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let the chart to be your chauffeur ... -Forexmnstr-
  • #22,870
  • Feb 23, 2013 5:39am Feb 23, 2013 5:39am
Quoting KADC
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...
I seem to agree with your view point
  • #22,871
  • Feb 23, 2013 5:49am Feb 23, 2013 5:49am
Well, it seems we have a lot of short build up in Silver, with Expiry of the Current contract on the 25th, the Shorts need to cover, as it is the volume of shorts on paper trade has been huge, that much silver is just not available. If some, Billionare calls the Delivery of these Shorts, Where will these Shorts go ? I wish I was in that position. ( it is funny though that exchanges allow this kind of OVERBUILD).

Governments and XAU/XAG:

Also, I always maintain XAU & XAG have no Governments, so the US and European Governments will always be able to turn the tide against these, when it threatens them.

MONEY PRINTING:

Currently, with so much pumping of money ( West, + Japan ) the Big sufferers are down here in Asia, due to very high inflation policies, poor are being crumpled, there are huge stocks of grains in Indian warehouses, which are rotting and there is nobody that cares ? I think the equation here is to bring down ASIA and to keep US and EUROPE surviving, but to all my BIG BROTHERS out there, CHINA & Japan is not ASIA, there are others who are suffering due to INFLATIONARY money pumping. Have a Heart, take on China seprately, do not punish other Asians for this.

Well, there was heavy volume on Thursday night in Silver, any big boy has stepped in ?
  • #22,872
  • Feb 23, 2013 11:33am Feb 23, 2013 11:33am
Gold and Silver, 25th is the decider ! Let us see, where the Market takes it.
Never used to believe in Elliot, but after this last move, I will start learning Elliot Wave theory from Scratch, any guidelines ?
  • #22,873
  • Feb 23, 2013 12:32pm Feb 23, 2013 12:32pm
Gold - my game plan
Attached Image
If you think you can or cannot do it you are correct
  • #22,874
  • Feb 23, 2013 8:04pm Feb 23, 2013 8:04pm
Quoting Olu
Gold - my game plan
Nice chart, thanks, will keep in mind.
The Gold Expiry was hammered and the Silver too. Feel that there should be some respite in the new futures group, what is most important is to watch DOW and if it is able to clear pervious top ( Most Unlikely as Heavy selling will emerge and it is not possible to sustain, anyhow it has been a great move from the bottom, it must have taken a lot of effort on US GOVT's part, but the Climax is approaching )

One thing to note is that in a CRISIS MAN can devise methods to survive and these methods are what took DOW to such High, so it is very unlikely that the Governments around the world, will let the world meltdown, they will do what it takes, so would you and I had we been in their place, so this is pure NOISE, once you take it out from your system, you will be able to see more clearly. Remember, we have seen world wars and survived, the recent fall in 2008 has made us more vigilant, so until we let our guard down again in next 100 years or so, we will not break down. This is true of all markets also, No ? We cannot have a bottom after a bottom, we need new blood which is complacent enough to invest in the next top, to have a serious bottom in place.

Gold has not corrected from 300 levels to 1900 odd levels ( properly) so any correction should be welcomed with open arms. so keep on watching...........
  • #22,875
  • Feb 23, 2013 8:25pm Feb 23, 2013 8:25pm
bought some silver @ $28.50 for a quick pop back to $29.50/30

but eyeing $26 of course and if we break that... $22 and $18

for gold, $1530/$1550 and below there, $1400.



chart should say XAUUSD... lol... so used to silver.
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Be hopeful in a winning position, and fearful in a losing position.
  • #22,876
  • Feb 24, 2013 4:10am Feb 24, 2013 4:10am
Latest COT REPORT : Silver

Commercials add 2,026 additional long contracts.
and
Cover a huge 6,815 shorts to end the week with 47.11% of all open interest,
a huge decrease of 2.35% in their share since last week,

But it still stands as a group at 189 Million ounces net short

It is a decrease of over 44 million net short ounces from last week.

So, we still have to worry about the shorts when prices go up !
  • #22,877
  • Edited 12:28pm Feb 24, 2013 9:56am | Edited 12:28pm
Quoting lilpip
Thur.silvers retest of wed feb lows breakout 28.87 area noted.
Thur. Retest of golds weekly breakout 1585-87 area noted also.
Bounce up noted @ 1573 to start fri lets see how 1585 responds 0n the 5 min..
fri daily
29.90
28.90-99
28.12
Bounce up @ 28.55 area noted.
eyes on daily pivot response
A new yearly timeframe and bears push south makes statement for the yearly trend starting with the feb.monthly trendguide or pivot (1680-84 area) and the yearly, quarterly pivot area 1663-65 area followed by monthly and quarterly lows breakout the 1616-21 area.
Last week the trending continued with a weekly lows breakout of the 1585-87 area.
Where do we stand ?
Although 1530-33 is 2013 projected single year lows she stayed above 2011 yearly breakout area and 2012 retest 1535-1550.
Taking it a day and a week at a time as we look to next week.
We closed the week with a bounce up from the 1572-73 area on the 4 hr.
This week bias is with the trend down from the monthly and quarterly breakout area 1616-21.
mon. daily
1617
1585
1553
mon. daily
30.05
29.05
28.12
  • #22,878
  • Feb 24, 2013 10:25am Feb 24, 2013 10:25am
My own plan : with the bulls !
Attached Image (click to enlarge)
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Patience is magic
  • #22,879
  • Feb 24, 2013 10:44am Feb 24, 2013 10:44am
Quoting Muntu
My own plan : with the bulls !
Bull is coming....soon.
  • #22,880
  • Edited 1:16pm Feb 24, 2013 1:00pm | Edited 1:16pm
Quoting Olu
Gold - my game plan
Hey trend trader my eyes are with ya at that picture of 1610-20 area and its response as feb.comes to a close.

Muntu
Im with you also as you look at the same area, one things for certain we will know her direction out of there by the candle formations on the 5 min along with PA.
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