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

  • #25,581
  • Sep 22, 2013 12:54am Sep 22, 2013 12:54am
Quoting XTrade
{quote} That's great! Yet, If you want to successfully trade Gold and Silver - And Some may disagree with me - especially my buddy ST! - YOU SHOULD at leasT KNOW, WHAT THE FED DOES!!!!!!!!!!! What if the fed COMES at one of your "suggested waves north" YET ROCKS the USD UP and PLUMMETS GOLD?????? What then? EW or any technical analysis will drive the market when the fundies and/or/ OR BOTH are set, then fine, yet when things run awry in this world, as they are now, markets, don't tend to make sense, NOR does PRICE ACTION Care about a 5 YEAR TREND...
I totally agree with your view, all indicators are lagging so price action is the key though price is also lagging in some contest.

my trade on base of price action.
http://www.mql5.com/en/charts/792693...markets?bind=1
don't predict direction, but dance with flow of water
  • #25,582
  • Sep 22, 2013 7:08am Sep 22, 2013 7:08am
Quoting XTrade
Just cause you are new and welcome, I am going to either respond myself or search the thread for prior correlation charts posted by myself, KADC and SunTrader. which will answer this question. Extensive research has been done "or enough so to get us to conclusion" here that there is no BEST WAY to peg gold. The best way to trade it is learn the fundamentals drivers, then the technicals and what specific news it reacts to largely. SO do NOT peg it ever so strongly to one financial instrument because in the end the correlation will indeed break...
Did not answer the question that was addressed to me with facts. I trade 47 currency pairs and check out every one individually. Don't care much for currency correlations, but at the very least made me curious. This chart settled my curiosity, you welcome to take it further, this took me 10 mins worth of research. Don't know if there much more to it. . . If there is I look forward to your input.

The gold versus US dollar, from 1970 till 2012

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  • #25,583
  • Sep 22, 2013 9:09am Sep 22, 2013 9:09am
I like spread charts and as the daily one clearly shows spread has been narrowing since 2011 top (a bit undecided lately though) and the monthly clearly shows spread increasing up until the top came:
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  • #25,584
  • Sep 22, 2013 11:11am Sep 22, 2013 11:11am
Quoting zumarikato
{quote} Did not answer the question that was addressed to me with facts. I trade 47 currency pairs and check out every one individually. Don't care much for currency correlations, but at the very least made me curious. This chart settled my curiosity, you welcome to take it further, this took me 10 mins worth of research. Don't know if there much more to it. . . If there is I look forward to your input. The gold versus US dollar, from 1970 till 2012 {image}

I seem to have lost what the actual "Question" in QuestioN is here!

At looking back - It seemed that the question to the thread was by Tk5 about the Relationship between the USD and Gold and Oil
- If this is incorrect please let me know.-
-------------------------------------------------------------------------
which was answered in brief and maintains the best way to look at this is not to peg gold too closely to anything.

Yet the classic relationship over years has been inverse between the USD and Gold and Usually converse say Brent and Gold.

There is another chart you might find interesting I believe it is from 1833 - 1998 Gold
http://www.forexfactory.com/showthre...27#post6970327
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,585
  • Sep 22, 2013 11:15am Sep 22, 2013 11:15am
Quoting tk5
Zumarikato i am relatively new to gold tradinf but i love it... i need to clarify couple points- a. when dollars cheapens gold rises right? is xau/usd like regular currency - if one goes down the other goes up? b. if oil goes up does gold follow it? regarding usd crashing - i doubt it at untill december because potential bombing of Syria will push dollar...chf and gold...these safe heavens.

Here it is!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,586
  • Sep 22, 2013 11:17am Sep 22, 2013 11:17am
Quoting SunTrader
I like spread charts and as the daily one clearly shows spread has been narrowing since 2011 top (a bit undecided lately though) and the monthly clearly shows spread increasing up until the top came: {image} {image}

Nice clean line charts mate,

I need to do some line charts for the sake of it this week, a bit too caught up in candlesticks atm....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,587
  • Sep 22, 2013 11:43am Sep 22, 2013 11:43am
Quoting XTrade
{quote} I seem to have lost what the actual "Question" in QuestioN is here! At looking back - It seemed that the question to the thread was by Tk5 about the Relationship between the USD and Gold and Oil - If this is incorrect please let me know.- ------------------------------------------------------------------------- which was answered in brief and maintains the best way to look at this is not to peg gold too closely to anything. Yet the classic relationship over years has been inverse between the USD and Gold and Usually converse say...
That settles this topic in my opinion. Hope it helps Tk5 with whatever his trading style is, does not do anything for my own. Thanx
  • #25,588
  • Sep 22, 2013 12:22pm Sep 22, 2013 12:22pm
Quoting XTrade
{quote} Nice clean line charts mate, I need to do some line charts for the sake of it this week, a bit too caught up in candlesticks atm....
Thanks but with a spread there is only one data point per period observed so line is the only selection.

If I get time later I'll post more spread charts.
  • #25,589
  • Sep 22, 2013 1:06pm Sep 22, 2013 1:06pm
Quoting zumarikato
{quote} That settles this topic in my opinion. Hope it helps Tk5 with whatever his trading style is, does not do anything for my own. Thanx
Anytime Buddy! Did you have a question that was posed and not answered?

BTW
WELCOME!

Looking forward to see some of your posts and discussing why exactly you trade 41 pairs - I think I know the answer,
yet perhaps Stox/ETFs would be easier as to the research and profit/margin reqs?

In any case!

Thanks,
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,590
  • Sep 22, 2013 1:10pm Sep 22, 2013 1:10pm
Quoting SunTrader
{quote} Thanks but with a spread there is only one data point per period observed so line is the only selection. If I get time later I'll post more spread charts.
Sun,
As I see it, when we look back either (well it's all history) but, "historically" or even daily, the line chart tells the "truer" tale of what actually happened,
where the real supports / resistances are, truer trend line accuracy in charting, amongst a list of other benefits,

Sure the day trader and the "scalper" don't like them usually but,

The blow out a lot of noise as well.

No complaints here.

And I might add in the term of spread charts I would think the line would be the most accurate mean data point or price point for one to utilize, scrutinize and analyze.

XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,591
  • Sep 22, 2013 1:55pm Sep 22, 2013 1:55pm
Quoting XTrade
{quote} Anytime Buddy! Did you have a question that was posed and not answered? BTW WELCOME! Looking forward to see some of your posts and discussing why exactly you trade 41 pairs - I think I know the answer, yet perhaps Stox/ETFs would be easier as to the research and profit/margin reqs? In any case! Thanks, XT-
Thanx for the welcome.

Had a question bout any news that would threaten my long position (entered at 1298) Well that already answered itself. Based on some research these megalomaniacal shills aint done yet driving the prises down so that they can buy physical gold at a cheaper prise. Well that the conclusion I came to. . . . I started to trade cfd's and ssf's some 7 years ago. Then 5 years ago started with forex. Liked forex more and sucked at medium and long term trading, moved to scalping. Getting that down now, enough so that I could quit my job and trade full time. 40+ pairs give me trading opportunities almost every day. Joined these forums so that I can broaden my perspectives. THE CLOSER YOU LOOK THE LESS YOU SEE
  • #25,592
  • Sep 22, 2013 2:34pm Sep 22, 2013 2:34pm
Anytime Mate! Welcome aboard.

Yes, well you, as many that come to FF, do/did not, Actually HAVE trading experience.

Once you GO GOLD and SILVER you never go back.

I don't see any major news this week, If you really want to know,

I think the FED has LAYED a bed it now needs to lie in.

I believe that in a few short hours GOLD and SILVER will GAP north and correct the Gap.

I believe that the FED and other major "funds" or major money is a better term ie:Goldman Sachs, UBS, Credit Suisse, AMEX,
know exactly how and when to hedge or position themselves wayyyyyy before the PA or market SPOT price or OTC "over the counter" prc is on the board.
It's all insider trading, it always has been and always will be.

Using lagging indicators of price has become almost useless to me. I like to use Trend lines, channels, BREakoUTS! S/R and MAs and if scalping price ladders.
Trading professionally dumbs it down. Oh and Potential chart patterns.

The US GOVMT is Owned now by China. All the economiç stimulus they want to provide will eventually end in ruin of TOO MUÇH PRINTING AND INKING The press.

What if I had a credit çard with a 5,000,000.00 USD limit and could print faulty currency to pay my charges for travel, PR, FUN, solitude, blissful yet fleeting peace or WAR. then when the bill comes, I don't work I just ink up my press and make all the people/ taxpayers pay for my GLOBAL GAMBLES.

I don't want to get too political here and intended on posting 20 yrs worth of charts....

So welcome again,
Thanks
Xt-

Quoting zumarikato
{quote} Thanx for the welcome. Had a question bout any news that would threaten my long position (entered at 1298) Well that already answered itself. Based on some research these megalomaniacal shills aint done yet driving the prises down so that they can buy physical gold at a cheaper prise. Well that the conclusion I came to. . . . I started to trade cfd's and ssf's some 7 years ago. Then 5 years ago started with forex. Liked forex more and sucked at medium and long term trading, moved to scalping. Getting that down now, enough so that I could...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #25,593
  • Sep 22, 2013 3:01pm Sep 22, 2013 3:01pm
Daily view from my point.

IMO can talk about bullish movements if trend breaks this channel up.

Roughly 1350 area is determinative...

And also for shorters (like me) that area can be place to add more.. (depends on the PA around there)
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  • #25,594
  • Sep 22, 2013 3:13pm Sep 22, 2013 3:13pm
Quoting XTrade
Anytime Mate! Welcome aboard. Yes, well you, as many that come to FF, do/did not, Actually HAVE trading experience. Once you GO GOLD and SILVER you never go back. I don't see any major news this week, If you really want to know, I think the FED has LAYED a bed it now needs to lie in. I believe that in a few short hours GOLD and SILVER will GAP north and correct the Gap. I believe that the FED and other major "funds" or major money is a better term ie:Goldman Sachs, UBS, Credit Suisse, AMEX, know exactly how and when to hedge or position themselves...
Thanx, your reply counts as broadening my perspective, still have a lot to learn, like the concept of life long learner. I also think that gold wil go up after open posted my technical reasoning for it but here it is again.

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Just to stay true to my own chart i am going to take partial profit at 1353 and enter a small short with tight stoploss at same level. I want gold to go up, up makes most sense to me. Will continue to buy any dip with technical support, hope my short will bomb out, won't loose much, will gain much if my long can stay in post previous highs
  • #25,595
  • Sep 22, 2013 4:35pm Sep 22, 2013 4:35pm
Quoting zumarikato
.......
Based on some research these megalomaniacal shills aint done yet driving the prises down so that they can buy physical gold at a cheaper prise.
Does that research go beyond reading the opinions of blog writers.

But if "they" are driving it down its to make money ............ on the short.

Something many long only ones here can't comprehend.
  • #25,596
  • Sep 22, 2013 4:51pm Sep 22, 2013 4:51pm
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just do it
  • #25,597
  • Sep 22, 2013 7:52pm Sep 22, 2013 7:52pm
Might not amount to much in the way of "news" but FOMC Dudley speaks Monday 9:30am and Fischer 1:30pm
  • #25,598
  • Sep 22, 2013 8:08pm Sep 22, 2013 8:08pm
Getting close to nearest support 1307, lowest close of recent days.

I know some think 1300 is next to be concerned about. Not me

If 1307 goes I will be watching 1387-1370 zone.
  • #25,599
  • Sep 22, 2013 8:32pm Sep 22, 2013 8:32pm
yesterday's post
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  • #25,600
  • Sep 22, 2013 8:33pm Sep 22, 2013 8:33pm
today
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