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

as i am clearly a noob.

can any body throw some light how much FOMC is going to make a difference.
on Silver particularly.

Your friend will be updating about the economical situation, if his 85 billion worth of bond buyback will be continuing, finish earlier/later than expected or no change. Other info as well, like interest rates etc. And usually, they will talk how good the economy is.

Right now, some traders might have square off positions pending FOMC ( they long because of the Cyprus and take their profits before FOMC)

Silver have some industrial applications (buildings etc) There will be instances where silver will not move as much as expected. This applies to platinum as well where Europe use them in air compressors.

Usually, but not always, silver and gold follow the same direction.

If there is a drop later, the drop in silver or xau might be limited by the fact that confidence in financial systems has been shaken due to the situation in Cyprus.

You might want to take note of the important supports recently in XAU. It will give a guide to silver.

I will be happy to see XAU drop to 1600 area and double test the middle line on my fork as the support and move up then later. This will be a healthy sign to go long in my opinion.

There will be traders waiting to go long again at lower prices ( 1600, Monday opening price of around 1591 etc). Flip side, will be, there will be people waiting to sell XAU XAG

Noob here too.

I would be looking for 1585 area for going long on gold after or during the FOMC meet, we can see a 20 $ downward movement.

divergence ?

drop in price ?

Nice... This has touched 1600 my mid line and moved back up. Should close 1d Above 1600 and sits on my mid line of my downward fork.

It would be nice if you could upload your fork charts.

GOLD 21/3/2013

Buy stop 1611, Stop loss 1606, Take profit 1618

Sell stop 1606, Stop loss 1611, Take profit 1600

http://vangsaigon.com/iupload/images/h1xnx.png

Post 23 178, paras4u. Hope it's useful as i m still applying what I learn from those webinar..

Dont think it ll be much of a market mover, but for anyone's info

There will be german, french eurozone manufacture PMI

Followed by

1) US jobless claims weekly report
2) Philadeph Fed manufacture survey
3) US Home sales.

so what would be a market mover ?

FINALLY, FINALLY, a bit of movement to the upside.

will need to consider taking profit pretty soon, as it looks like it will be heading down again. will monitor.....

my long trade opened on 13 march 2013. after 8 days i only have made around 22 pips. thats only £347. that is soooo ridiculous.

that is so pathetic !!

iam getting sick, of golds movements. thinking of looking at something else

If the Fed is stabilizing the Euro (with USD), this could mean a continued rise in gold's price. Not sure what else would be keeping the Euro in check if it isn't old Ben and his buds using (ahem abusing) the Feds clout to "stabilize" markets. I don't necessarily want panic to ensue, but the Euro still should have a long way to fall; especially if Euro countries (that are not Germany) want to have a remote chance at competing in export markets. If they were smart, they would inflate the debt they (collectively) owe and buy some time. This would be to the dismay of German savers, but what else do they expect? We all know this whole scheme/scam is eventually going to require a broad restructuring and austerity is not really improving the situation.

Warning:

there is a website coghlancapital, teaching newbies to learn andrew forks.
its a cheaters's sites.

curse them!

maybe a big cheater named Beeb is also one of them.

GSR managed to turn yesterday as in one version of my predictions, and hit 50% Fibo retracement from last move up at 55. Now the question is can it sustain its downturn as in similar situations previously, in last 2 bottoms.

http://img41.imageshack.us/img41/6081/image001ewu.png

I can see resistance at 1624 on the 4H GOLD chart. GOLD might try to throw itself over this level, in which case it looks like it will drop soon afterwards.

If it doesn't hit 1624 i.e. undershoots, it could drop heavily very quickly.

Tentatively long, with SL in place, target 1624.

Short on a break below 1609 whether it hits 1624 or not.

New to this site - been trading for 5+ years.

Nice..

er .... still wondering if its divergence in the making ....?

Silver still nicely bracketed between 2 long term daily forks. Have seen them here before, I think.

In principle, a small break up ( < 31) is possible anytime till mid April. After that there is a corner end of April between these 2 forks where is has to choose a direction which to follow. Right now its has been following up trending fork for more then a month.

http://img132.imageshack.us/img132/7...ongtermfor.png

Hmm, anyone having exceptionally high spread out of a sudden with their brokers? check out FX oanda spread for XAG/USD. Its double to tripled.