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

  • #25,941
  • Oct 1, 2013 7:57am Oct 1, 2013 7:57am
  •  KADC
  • Joined Apr 2012 | Status: Be unreasonable. | 897 Posts | Online Now
Quoting Greener
{quote} risk aversion?..a shutdown is not enough? weird day to explain this drop...paper gold
Risk aversion except there isn't the massive US$ sell-off one would expect when the government shuts down. Perhaps there will be more of a reaction at NY open.
You can always make money tomorrow provided you don't lose it today.
  • #25,942
  • Oct 1, 2013 7:58am Oct 1, 2013 7:58am
  •  KADC
  • Joined Apr 2012 | Status: Be unreasonable. | 897 Posts | Online Now
Quoting KADC
{quote} Risk aversion except there isn't the massive US$ sell-off one would expect when the government shuts down. Perhaps there will be more of a reaction at NY open.
Addendum: Looking at $1,275 target per my prior daily chart postings.
You can always make money tomorrow provided you don't lose it today.
  • #25,943
  • Oct 1, 2013 8:15am Oct 1, 2013 8:15am
Quoting KADC
{quote} Addendum: Looking at $1,275 target per my prior daily chart postings.
If US is really to start massive USD sell-off then gold should fly high
  • #25,944
  • Oct 1, 2013 8:16am Oct 1, 2013 8:16am
Twas just a retracement earlier in the day. Ozzie went up on the RBA news then Gold decided to join in a couple of hours later. Now it is just obeying the Tech's. It will still be interesting if Gold gets to 1265. Will it then continue South or Go North to 1560.?????
Money Makes Money
  • #25,945
  • Oct 1, 2013 8:28am Oct 1, 2013 8:28am
Quoting KiwiOz
Twas just a retracement earlier in the day. Ozzie went up on the RBA news then Gold decided to join in a couple of hours later. Now it is just obeying the Tech's. It will still be interesting if Gold gets to 1265. Will it then continue South or Go North to 1560.?????
It would be nice to know who is selling gold today and how
  • #25,946
  • Oct 1, 2013 8:55am Oct 1, 2013 8:55am
Quote
It would be nice to know who is selling gold today and how

Even better, post it ahead to inform us. If not honestly at least by misstake
  • #25,947
  • Oct 1, 2013 9:01am Oct 1, 2013 9:01am
Are there any fundamentals left for Gold that hold true?
Predicted responses to news or events seems lost and the Gold market is now "far less predictable".
Day traders can still trade the highs and lows of insane market reactions, but will the new unpredictability not hurt the Gold market overall?
Risk is one thing, but this is slowly turning Gold markets into gambling if no one knows any more how the market will react to news.

Looks like trading is reduced to raw price action and charts.
Penny for your thoughts!
All's fair in love and trading
  • #25,948
  • Oct 1, 2013 9:09am Oct 1, 2013 9:09am
Quoting Markmania
Are there any fundamentals left for Gold that hold true? Predicted responses to news or events seems lost and the Gold market is now "far less predictable". Day traders can still trade the highs and lows of insane market reactions, but will the new unpredictability not hurt the Gold market overall? Risk is one thing, but this is slowly turning Gold markets into gambling if no one knows any more how the market will react to news. Looks like trading is reduced to raw price action and charts. Penny for your thoughts!
Always has been for me. Good news price goes down. Bad news price goes up. WTF. I take little notice of news etc. I just trade the charts.
Money Makes Money
  • #25,949
  • Oct 1, 2013 9:12am Oct 1, 2013 9:12am
im holding on with that bullish. 2 failed candle attempts to break the lowest. so maybe she gathering strength to go up. can those two be bearish the same time?
Pecuniae obediunt omnia
  • #25,950
  • Oct 1, 2013 9:20am Oct 1, 2013 9:20am
Quoting PIPot
im holding on with that bullish. 2 failed candle attempts to break the lowest. so maybe she gathering strength to go up. can those two be bearish the same time?
what TF are you referring?
Gold is my pleasure.
  • #25,951
  • Oct 1, 2013 9:28am Oct 1, 2013 9:28am
I seriously dun understand....... Need a favour, can someone enlighten? I thought the sell off of Usd will cause gold to fly?
  • #25,952
  • Oct 1, 2013 9:32am Oct 1, 2013 9:32am
kiss my d***, gold! i wont close this bull! ahahahaah
Pecuniae obediunt omnia
  • #25,953
  • Oct 1, 2013 10:06am Oct 1, 2013 10:06am
Quoting hbkarakas
Hi all, prices just touched my descending middle trend line, and i bought same lots to lock my pips.. What are your comments for the next moves ? 1.305 is the first resistance i guess and second one is 1.320 area. If bulls have the power to push it up... I dont wait anymore way to south before some retracement to north... {image}

I have the same long spot on that middle TL. It baffles me why gold pounded on this shutdown when every other asset is moving positive against the usd.

not even on the NY openning there was a usd selloff
  • #25,954
  • Oct 1, 2013 10:30am Oct 1, 2013 10:30am
Hi GqOrlando,

thanks a lot for your reply. Ya.......so strange I am long on gold as well
  • #25,955
  • Oct 1, 2013 10:39am Oct 1, 2013 10:39am
Quoting Oasis dream
I seriously dun understand....... Need a favour, can someone enlighten? I thought the sell off of Usd will cause gold to fly?
The selloff has been happening in the dollar for almost a month and Gold went nowhere - and even went slightly lower over that period. Which means no strength behind it. Therefore once the midnight deadline hit it meant time to sell not buy Gold.

As I said yesterday the continuing resolution to keep the government open for non-essential operations is NOTHING.

The big one is Oct 17th to raise the debt ceiling. If there is no agreement by then the government would technically be in default. The first time ever for this country.

Now that might get a big positive reaction from Gold.

Even then it all depends on the move into that deadline and how it perceived.

Price always rules news though.
  • #25,956
  • Oct 1, 2013 10:49am Oct 1, 2013 10:49am
this is the make it or break it for gold. HUGE head and shoulders that would be invalidated if price doesn´t break this support

http://i.imgur.com/1LsLJTh.jpg
  • #25,957
  • Oct 1, 2013 10:50am Oct 1, 2013 10:50am
Hi Sun trader,

thanks a lot for your explanation. Appreciate it! (">
  • #25,958
  • Oct 1, 2013 11:01am Oct 1, 2013 11:01am
Quoting SunTrader
{quote} As I said yesterday the continuing resolution to keep the government open for non-essential operations is NOTHING. The big one is Oct 17th to raise the debt ceiling
yeah, we shall trust the levels for now
  • #25,959
  • Oct 1, 2013 11:09am Oct 1, 2013 11:09am
Latest as how I see EW wave count 1-5 of a larger wave 1 or A. The lower fib zone at this point is more likely to be reached. So 1240-1233 before a temporary bottom.
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  • #25,960
  • Oct 1, 2013 11:20am Oct 1, 2013 11:20am
added fibo from 1375 to 1305
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