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

......

what the devil ... ?

what have we missed .. ?

what goes up must come down ...?

never...

Second of a five-part series:

http://www.forbes.com/sites/investor...price-of-gold/

Worth reading.

Gold chart update. Testing Resistance zone I expect it to hold today.

I think there is no need to trade gold and try to catch let's say ~5$, because of huuuge spread. I have, for example, 0.8....0.9$. It scares me to trade gold ))

hi all i have a broken wrist

cannot type easily,

gold sucked, this week

but closed + 1300

which is good,

rest, recovery,

patience & good trading to u all

xt-

nice simple chart, that "green" bar looks aggressive - esp, after a small spinning top.....

plus it took out the day before the top's high, not low HIGH

Sorry for your hand

Starting at about 2:49, Paul Craig Roberts verbalizes my sentiments on a variety of issues:

Sorry to hear about your broken wrist. I hope you make a strong recovery! Take care!!

Well here we are with gold doing as expected last week. Broke out to 1350ish and corrected back down just below 1275. From the look at the chart we could see some bouncing around in this range for the week. It looks to test 1350 again and eventually breakout north, but we will see if it lingers around that area for a push north. If it corrects, we will see if it can hold above 1290-1295, then I would say we are very bullish this week. Unless of course the world doesn't blow up lol. Paul Roberts is the man! Good luck.

Range is expected until a tech break of 1350... Shooting to 1330 area on a sunday open means LONGS are in play, I am still long half way and now over BE.

I did dump some. but also have long term holds.

Averaging the best Price Per OZT is always a factor.

For instance,

Long @ 1000
Long @ 1500
Long Net Price = 1250

Technically,
it looks perfect, as a break north of the DTL from May 2013. {top PURPLE}
June, July, Aug, all present on the below, H4 chart,
Also, Range established clearly, appx 1275/80 to 1350. Pretty decent range for summer time trading.
It's better than 20USD, Yet not swinging too wide either way.

Gold cannot be worth ZERO any FIAT currency, so all the super bears can simply FORGET about that notion.
Or else make a valid argument why the only working GLOBALLY accepted 'currency' after + 5000 years will be worthless,
and keep in mind it goes way deeper than your "trading thoughts."
Not happening.

Any way,
We have seen almost 2k per ozt, on a massive UP roar, and sub 75 - USD dollar days,
desks will be manned fully again in a few short weeks,
Where do you want to place your bet?

The USD and bonds? Equities? GOLD SILVER PT PD? Fibre, Cable, Aussie, Swissy, Ninja, Kiwi? OIL? CU?

Looks like people are starting positioning.

If you want to trade safe wait for sure confirmation of the break north.
Until then Bias remains sideways, risk downside, yet, possible reversal signs are present.

Yet, aggressively, I would have and did add on the last dip,
Likewise my stop from 1315 longs was never hit.

Shooting for a long term exit of A + 700 USD MOVE north. or 2000 roughly.

ADD - PRICE now above 50. 100. nd 200. H4 SMAs, break of downward TL, and likely Bull flag completion @ 1350,\\Sure there are resting shorts there,
yet if we can dip say 10 USD to 1340/35 from said area safely, looking like the longs will resume and finally crack the line flipping 1350
BACK to support........we shall see.
1300 of little importance besides a psych level, I always look 10 15 and 25 below the Big Round Number "BRN" For truer supports/resistances.

Potential INVERSE Head and shoulders forming on H4. Need Shoulder 2. Or just another couple BLASTS north...

Need to read the calendar.

Also, It is clear now, the last two bigger dips on H4 or {240 min} were supported by the 200 SMA - BLUE- on chart.

3 would be extra confirmation.

Last little dip only took the 100/ RED on chart/ now above 50. as well.

A safe play could be to add/ test a Long at the estimated area and timing of the 200, more aggressive, the 100, yet trading the 240 takes patience and days.
Don't have it u will get lead to a slaughter, all to then see the price go in your favor a few days or the next week later.
.
any noobs should be using LOW LOT size and SUB 100:1 Leverage. Such as 50:1 - trading Micros at Most one Mini.

Resistance held on Firday but I would have liked more downside. Today there was a gap and resistance zone is now support level. If we manage to break above 1338-1346.89 Resistance zone then there should be another major leg up before downside.

Nice continuation into NY open,

if 1350 goes and can be flipped back to support it should mean the beginning of just one small victory the bulls need.

In the more immediate sense I would then be targeting 1420 area as next minor resistance to breach.

puzzled ... !!! ?

is the image a chart ... ?

i see an image of back streets of Hong Kong or Macau or something like that !!

overlooked the candles .... thanks for pointing out the candles ... your analysis panned out ....

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now i am looking at the resistance .... and the volume (though it is not definite , but nonetheless indicative ) ....what will they think of next ?

will appreciate if someone could post a chart with real volume levels