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

  • #26,841
  • Oct 17, 2013 9:17pm Oct 17, 2013 9:17pm
Quoting XTrade
{quote} Great part about being a bit experienced is sleeping, just set an order and leave it as fill or kill!!!!
wise words...
Don't have an ego. Always question yourself and your ability.
  • #26,842
  • Oct 17, 2013 9:19pm Oct 17, 2013 9:19pm
So No takers on Position Trading as of YET,

Wellllllllp,

Tomorrow, I am going to show you a LONG TERM LONG - Trade off the Lowest point in a major in years, the calls that both myself and for those of you that Know Wormboy made for this pair, where it was, where it went and where it is NOW.

Then of course we can look at 5 and 10 year GOLD!

Quoting XTrade
Who here is interested in discussing POSITION TRADING GOLD / SILVER / FX??? The amount of prep is more than that of daytrading, yet, the rewards and the lack of daily "maintenance" and worry is FAR worth it. ESPECIALLY when you catch a yearly low, Stack on a nice position and just ride....... ???? These goals are not 100 pip trades or 10 USD moves for gold they are 1000+ pip with multiple lot size MICRO/MINI/STANDARD your choice and for Gold 300 to 500 USD moves... It takes patience and time... Here is a link to a post by one of my preferred analysts...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,843
  • Oct 17, 2013 9:51pm Oct 17, 2013 9:51pm
Quoting XTrade
Who here is interested in discussing POSITION TRADING GOLD / SILVER / FX??? The amount of prep is more than that of daytrading, yet, the rewards and the lack of daily "maintenance" and worry is FAR worth it. ESPECIALLY when you catch a yearly low, Stack on a nice position and just ride....... ???? These goals are not 100 pip trades or 10 USD moves for gold they are 1000+ pip with multiple lot size MICRO/MINI/STANDARD your choice and for Gold 300 to 500 USD moves... It takes patience and time... Here is a link to a post by one of my preferred analysts...
You got me interested. Need more info'
Money Makes Money
  • #26,844
  • Oct 17, 2013 10:50pm Oct 17, 2013 10:50pm
Quoting XTrade
So No takers on Position Trading as of YET, Wellllllllp, Tomorrow, I am going to show you a LONG TERM LONG - Trade off the Lowest point in a major in years, the calls that both myself and for those of you that Know Wormboy made for this pair, where it was, where it went and where it is NOW. Then of course we can look at 5 and 10 year GOLD! {quote}

hi XTrade,

Saw this post this morning and I am definitely interested. Let me just say that I am interested but I cannot actually enter a position for reasons of my capital being committed to the hilt. However, as you explain and discuss I will participate and look forward to it!

The idea of positional trading has been on my mind. This is certainly the kind of trading one wants to do when you "retire" from day-trading (which can be time-consuming and nerve-wracking). Reversion to mean and revisiting prior high/lows is something we can clearly see in the charts and this should be taken advantage of at the opportune moments.
cryptocurrency everytime
  • #26,845
  • Oct 17, 2013 11:05pm Oct 17, 2013 11:05pm
Camp here for XTrade's release.
  • #26,846
  • Oct 17, 2013 11:17pm Oct 17, 2013 11:17pm
I'm very interested too, since I've gain some 00 but loss several 00
*Camp here too
  • #26,847
  • Oct 17, 2013 11:20pm Oct 17, 2013 11:20pm
D chart under consolidation, the fastest is after 1H complete the ABC cycle. Not too far already.
Face both Win and Lose bravely
  • #26,848
  • Oct 18, 2013 3:22am Oct 18, 2013 3:22am
Quoting KADC
{quote} Gold in particular likes to consolidate between the high or low of the primary move and the initial pull back after making the high or low before moving again. In this case, I wouldn't be surprise to see it bounce between $1,323 and $1,313, possibly dipping to $1,307 before making the next leg up if it continues upwards as you hope. Also, always remember that no-one ever lost money by waiting to enter a trade so next time wait for the pull back.
Nice insight into market behavior.

I added a new long, with pull back to fib 61 of this short 30 min outside range which covered the am session
exit when 3 seller bars close over 5sma
target close half at 38 fib
had a win 30 min ago this is second entry so not as promising
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD - 18.10.2013 - 01.GIF Size: 88 KB
  • #26,849
  • Oct 18, 2013 4:43am Oct 18, 2013 4:43am
Im thinking of never trading XAG again, i observe its movements as it should have a close correlation to XAU but its range is not valid or worthy of my efforts.
This current XAU position i took had a mirror setup on XAG, where XAU offers 30-45 pip target, XAG a measly 5 pips which is pretty much the spread. Now where is the logic in trading such a paralyzed product.
  • #26,850
  • Oct 18, 2013 4:45am Oct 18, 2013 4:45am
Final thought on what i just mentioned, perhaps some products are far better suited to longer term trading, H4 and higher. Same goes for EURGBP and some fx pairs and other comm/ stocks.
  • #26,851
  • Oct 18, 2013 6:15am Oct 18, 2013 6:15am
this si what I´m looking at

http://i.imgur.com/6sfaADm.jpg
  • #26,852
  • Oct 18, 2013 6:22am Oct 18, 2013 6:22am
Move to b/e at the 61.8 level if this 30 min bar closes as a seller below 5sma
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD - 18.10.2013 - 02.GIF Size: 26 KB
  • #26,853
  • Oct 18, 2013 6:41am Oct 18, 2013 6:41am
Technical traders, what do you call a bar formation as is on the M30 XAU
From the larger buyer 2hrs ago, and then 3 sellers within its range, the expectation is a bounce upwards? what is the formation called
  • #26,854
  • Oct 18, 2013 7:19am Oct 18, 2013 7:19am
Quoting JayPipin
Technical traders, what do you call a bar formation as is on the M30 XAU From the larger buyer 2hrs ago, and then 3 sellers within its range, the expectation is a bounce upwards? what is the formation called

hi JayPin,

No idea, but the picture i see today is that, since the Asian session, sellers have been pounding the 1316 area. Just before the European session price was chased up and then returned to the same battle. Now in the US session the same continues...

Obviously there is contention around 1316 and whenever a level is challenged repeatedly it eventually gives way - for how long is the unknown.
cryptocurrency everytime
  • #26,855
  • Oct 18, 2013 7:30am Oct 18, 2013 7:30am
Agreed 1316 is quite the trampoline, do you think traders are trying to break below or us it as support

Im out of todays trades, no losses woop!
still got two long from yesterday. im off early, have a good weekend y'll and not too much testing okay
  • #26,856
  • Oct 18, 2013 7:31am Oct 18, 2013 7:31am
FWIW, i see PA coming below 1316 today:

1) US Dollar is slowly regaining some strength
2) VIX has dropped down to 13.x again
3) 1316 is being challenged for the third session today and the US participants have the stones.

Basically, the old New Normal is returning to markets, fear is low and complacency high (equities continue to rally). So, Gold has to give up some gains in return. The move was fast and furious but did not clear the levels that contain the last 2 months' downtrending PA

edit: i'm trying to count this wave up but it is unclear if 5 waves are in. If they have printed then we can expect retracement of larger degree wave 2 to around 1302 at least (if not lower)
cryptocurrency everytime
  • #26,857
  • Oct 18, 2013 7:50am Oct 18, 2013 7:50am
i bought more at 1315.75, stop is close to b/e but i could let it slide about if the PA looks very favourably bullish, and also buying in the lower area if we see a bigger pullback
Attached Image (click to enlarge)
Click to Enlarge Name: 18OCT13GOLD.png Size: 44 KB
Don't have an ego. Always question yourself and your ability.
  • #26,858
  • Edited 8:03am Oct 18, 2013 7:52am | Edited 8:03am
seems a wave sequence up has started from 1316... beginning of wave 5 or wave C of a triangle ?


edit: i reworded to omit "wave 5 of 5" since this would (by my count) be wave 5 proper
edit2: added triangle which now seems likely
cryptocurrency everytime
  • #26,859
  • Oct 18, 2013 8:10am Oct 18, 2013 8:10am
I wouldn't say there is "no fear" -

So far all the USGVMNT has done is extended borrowing limits for 4 months. - We still have no budget here.

Sure in the short term it may be a temp fix but the issues still remain.



Quoting venzen
FWIW, i see PA coming below 1316 today: 1) US Dollar is slowly regaining some strength 2) VIX has dropped down to 13.x again 3) 1316 is being challenged for the third session today and the US participants have the stones. Basically, the old New Normal is returning to markets, fear is low and complacency high (equities continue to rally). So, Gold has to give up some gains in return. The move was fast and furious but did not clear the levels that contain the last 2 months' downtrending PA edit: i'm trying to count this wave up but it is unclear if...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26,860
  • Oct 18, 2013 8:16am Oct 18, 2013 8:16am
Quoting XTrade
I wouldn't say there is "no fear" - So far all the USGVMNT has done is extended borrowing limits for 4 months. - We still have no budget here. Sure in the short term it may be a temp fix but the issues still remain. {quote}
True what you say, yet with a low reading on the VIX and participants piling back into stocks, I'd say it's back to business: risk-off

In reality (and for some of the reasons you mention) we stand at the edge of a precipice so fear should be evident!
cryptocurrency everytime
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