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

  • #28,581
  • Nov 20, 2013 8:53am Nov 20, 2013 8:53am
Quoting Spec_And
I think gold will move sideways even if it doesn't tank from here, its been such a massive loser this year, that makes it a prime candidate for tax loss selling.
Its the tax loss selling guys, this will continue for a while, likely into Dec.
"Where you want to be is always in control, never wishing, always trading.
  • #28,582
  • Nov 20, 2013 8:55am Nov 20, 2013 8:55am
Quoting spinozagr
15/10/2013 ---> 1251 Almost one month later it approaches the same price... And the question is At those levels.... "sell buy" or "buy limit" ;;;

Answers are hidden in the weekly moving averages
A trade should be based on an assumption based on facts
  • #28,583
  • Nov 20, 2013 8:57am Nov 20, 2013 8:57am
Quoting Greener
{quote} Let's not forget that FED with Yellen & Co. looks more and more like a nest of heavy-weight doves. I expect a pullback if not today possibly tomorrow.
I'm intrigued as to why you think that. Heavy-weight doves is rather like saying toothless bears or hornless bulls. With Yellen comes trouble. She seems more like another Obama Yessir than critic. Let's not forget that during Obama's reign the global national debt has risen 18 times above the point of no return. Printing presses aside, the rest of the world will cause US inflation by dropping trust in the dollar as reserve currency over the next 6 months or so which means gold may have a decided rop in value as trust flies to Euro rather than (metals+USD) combos. In a week's time we can revisit this idea and see whether our systems and rules are correct. I've only been at it a week and already there are clearer signs that there is a huge problem ahead that nobody except Uncle Sam can fix.

So to my question, I am very interested to know why anyone thinks gold is more bullish than it is now. I may have missed something in my programming considerations.
You win, you lose. All else is history. The future does not exist.
  • #28,584
  • Nov 20, 2013 8:59am Nov 20, 2013 8:59am
Quoting Pip Anon
{quote} Gold has already priced it in last week. Remember, there is, so far, no change in stimulus. If gold is $1,250 at $85B/Mo. today why would it be drastically different next month?
I don'know but next month a few lies of current FED administration can be exposed i.e. jobs & other economic data. This is just a technical move in my view. They will struggle to push it below 1250. 1210 is the very bottom I see for now.
  • #28,585
  • Nov 20, 2013 9:02am Nov 20, 2013 9:02am
Quoting The Rhodie
{quote} I'm intrigued as to why you think that. Heavy-weight doves is rather like saying toothless bears or hornless bulls. With Yellen comes trouble. She seems more like another Obama Yessir than critic. Let's not forget that during Obama's reign the global national debt has risen 18 times above the point of no return. Printing presses aside, the rest of the world will cause US inflation by dropping trust in the dollar as reserve currency over the next 6 months or so which means gold may have a decided rop in value as trust flies to Euro rather...
The thing is people need to step outside the box and look in. Gold as traded on exchanges is not the real value of gold. If institution think it's bearish then it's bearish. Spot gold is paper gold.

There is, according to data, no inflation and bad for gold. Those that buy bullion in order to hedge for real inflation buy it regardless of price, and now it's discounted.

However, if you are trading gold? Why must "we" always fight the trend. If some wants to buy for inflation buy physical not spot, and even physical demand won't boost gold.
When the facts change I change my mind, what do you do sir
  • #28,586
  • Nov 20, 2013 9:07am Nov 20, 2013 9:07am
Quoting Pip Anon
{quote} The thing is people need to step outside the box and look in. Gold as traded on exchanges is not the real value of gold. If institution think it's bearish then it's bearish. Spot gold is paper gold. There is, according to data, no inflation and bad for gold. Those that buy bullion in order to hedge for real inflation buy it regardless of price, and now it's discounted. However, if you are trading gold? Why must "we" always fight the trend. If some wants to buy for inflation buy physical not spot, and even physical demand won't boost gold....
Thanks. Sort of answered it.
You win, you lose. All else is history. The future does not exist.
  • #28,587
  • Nov 20, 2013 9:22am Nov 20, 2013 9:22am
now what the hell is going on?

edit: i swearengen - when this leg down finishes I'm dedicating my trading time to Bitcoin - straight textbook waves that play nice with indicators and 100% gains some days - this Gold PA is getting me down.
cryptocurrency everytime
  • #28,588
  • Nov 20, 2013 9:24am Nov 20, 2013 9:24am
Quoting venzen
now what the hell is going on?
Please ENLIGHTEN ME.... I HAVE NO CLUE!!
  • #28,589
  • Nov 20, 2013 9:28am Nov 20, 2013 9:28am
Trade minimum size till confidence is back.

Quoting venzen
BTW - does anyone know a good remedy for sweaty palms?
Patience is magic
  • #28,590
  • Nov 20, 2013 9:32am Nov 20, 2013 9:32am
Quoting venzen
now what the hell is going on? edit: i swearengen - when this leg down finishes I'm dedicating my trading time to Bitcoin - straight textbook waves that play nice with indicators and 100% gains some days - this Gold PA is getting me down.
the ECB just announced that it is considering -0.1% interest on deposits - big dumping of € in progress, with I quess some of that finding a home in gold....missed my limit sell by 5 pips - bloody ECB....
Trading Levels with WRBs
  • #28,591
  • Nov 20, 2013 9:33am Nov 20, 2013 9:33am
Quoting Muntu
Trade minimum size till confidence is back. {quote}
What confidence?
You win, you lose. All else is history. The future does not exist.
  • #28,592
  • Nov 20, 2013 9:35am Nov 20, 2013 9:35am
Quoting venzen
now what the hell is going on? edit: i swearengen - when this leg down finishes I'm dedicating my trading time to Bitcoin - straight textbook waves that play nice with indicators and 100% gains some days - this Gold PA is getting me down.
Don't worry, Even I think of 1250 before the great bull
and you Knew that I am with the bull side
  • #28,593
  • Nov 20, 2013 9:36am Nov 20, 2013 9:36am
Quoting Islander
{quote} the ECB just announced that it is considering -0.1% interest on deposits - big dumping of € in progress, with I quess some of that finding a home in gold....missed my limit sell by 5 pips - bloody ECB....
Yeah, I saw that and lost out a little. Guess the bulls are jumping and bears will comedown hard the backs of any rises.
You win, you lose. All else is history. The future does not exist.
  • #28,594
  • Nov 20, 2013 9:38am Nov 20, 2013 9:38am
Quoting Islander
{quote} the ECB just announced that it is considering -0.1% interest on deposits - big dumping of € in progress, with I quess some of that finding a home in gold....missed my limit sell by 5 pips - bloody ECB....

thanks, Islander.

i'm sitting with a huge position short due to good alignment of wave count, indicators and sentiment - couldn't they at least have the honor to schedule a press conference? jeez man...
cryptocurrency everytime
  • #28,595
  • Nov 20, 2013 9:39am Nov 20, 2013 9:39am
The counter argument to the bears is that, despite the high ratio of paper gold to physical gold, there are parties that are buying gold and keeping it, taking it off the market.

The minority that each futures delivery month keeps requiring delivery -- that gold is getting scarcer and scarcer. When it is not there, only a rising price will allocate scarce physical gold among too many buyers. When will that be? Who knows, but one day before too long they will prevail.
  • #28,596
  • Nov 20, 2013 9:41am Nov 20, 2013 9:41am
Quoting Muntu
Trade minimum size till confidence is back. {quote}
Muntu, thanks for the advice, but i adrenalize easily... confidence wavers when the ECB makes surprize announcements, but entering a trade before major news tends to get my heart pumping!
cryptocurrency everytime
  • #28,597
  • Nov 20, 2013 9:42am Nov 20, 2013 9:42am
Quoting Smithy1
The counter argument to the bears is that, despite the high ratio of paper gold to physical gold, there are parties that are buying gold and keeping it, taking it off the market. The minority that each futures delivery month keeps requiring delivery -- that gold is getting scarcer and scarcer. When it is not there, only a rising price will allocate scarce physical gold among too many buyers. When will that be? Who knows, but one day before too long they will prevail.

Good point, and wasn't JPM in the news a while back for selling paper which they couldn't deliver on?
cryptocurrency everytime
  • #28,598
  • Nov 20, 2013 9:45am Nov 20, 2013 9:45am
Guys what do you expect about the Fed report today? Will it have a big effect?
  • #28,599
  • Nov 20, 2013 9:49am Nov 20, 2013 9:49am
Quoting Islander
{quote} the ECB just announced that it is considering -0.1% interest on deposits - big dumping of € in progress, with I quess some of that finding a home in gold....missed my limit sell by 5 pips - bloody ECB....
You wanna sell gold sir?
Hmmmnnnnnn
Maybe after 1276
Enjoy your day.
  • #28,600
  • Nov 20, 2013 10:03am Nov 20, 2013 10:03am
Quoting pipcenturion
{quote} You wanna sell gold sir? Hmmmnnnnnn Maybe after 1276 Enjoy your day.

you're rude you know. drop in throw out some numbers and disappear for days and weeks.

now you come cast doubts on an experienced trader's position and throw another number with no rationale or technical support for it. and end it it with "enjoy your day". respect honors both yourself and those you address.

at least have the decency to adhere to the thread owner's request for supporting reasons or material.

edit: and i'm glad you're going to get egg on your face with that call today because 1276 won't print. Had the 3rd wave of C up hit 127x it may have resulted in wave 5 reaching 1276 but there just not enough Fibonacci in what's on the chart for that to happen.
cryptocurrency everytime
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