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

Quoting The Rhodie

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When you're down, you're down. when you're up, you're up. When you're margin-called you're out. All we can do is manage our risk carefully and be intelligent enough to realise that no two days are traded alike. Laws of probability mean that you should be right at least 80% of the time and wrong often enough to make a good decision after patiently watching the market's behaviour. Generally speaking: - 1. No trade before making a mug coffee. 2. No trade up to 15 mins before London open and behind 0830 GMT, no more new positions. 3. Once markets are...

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Quoting JRissa

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Hello all. This is my early take on Gold. Bounce from 61.8 fibo and fail to close above it. Targer fibo expansion 100 {image} {image}

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Quoting Islander

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{quote} GM JR - I was just working up this chart when I read your post and wondered why you used the lower high for your fib, rather that yesterday's actual high.... PS the annotations DZ are for the Decision Zone, the 38.2 and 61.8 retracement where price \"decides\" if it will turn back - or not! - from my old Naked Jpy thread.... {image}

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Quoting JRissa

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{quote} Thank you for your comment Islander and good morning to you too. To answer your question, I've been testing to use fibo levels with these smaller waves and saw an oppoturnity here. Closed short Gold at ~be and waiting for next level with traditional fibo levels as you are {image}

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Quoting Islander

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{quote} OK - I understand and I too have also used a narrower fib range to see IF it gets \"respected\" - as I'm new to using my FX system on intra day gold my current trades are \"work in progress\"......I just bought after the test of the day's open line at 1344.12 held in the 8:07 gmt bar...... PS LOL - I sold the hit in the DP just before FO and banked when it held at the 1345 level....

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Quoting JRissa

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{quote} Nice trades I'm personally looking for short oppoturnities only for gold today. Seeing lot of selling. {image}

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Quoting Islander

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{quote} Please Mr Rhodie my coffee machine - aka wife - doesn't operate until mid Frankies Hour.......what should I do if I want to take an early trade? PS another great post

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Quoting Mave

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{quote} unrelated.. are the current situations similar to 99 (- the QE)

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Quoting XTrade

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Could happen ppgolf - ezpecially now that the price is once again back in the average area of week. FOMC supposed to be dreary yet if clues are negative we could see another new high.... {image} {image}

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Quoting morfasie

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Well looks like it has made some good ground in the UK session to get close to the resistance level of 1352, hopefully it will keep strong through the US session till the announcement this afternoon so it can push through that resistance and make a new high at around 1365 or higher If it can't break the 1352 resistance level, it will probably turn around and head down to 1330 like others have mentioned What do you experts think? Then, do you experts have any trades in there now, and what are they, short or long? Cheers

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Quoting JRissa

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{quote} Nice trades I'm personally looking for short oppoturnities only for gold today. Seeing lot of selling. {image}

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