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

  • #28,621
  • Nov 20, 2013 2:09pm Nov 20, 2013 2:09pm
Broken H&S?
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When the facts change I change my mind, what do you do sir
  • #28,622
  • Nov 20, 2013 2:16pm Nov 20, 2013 2:16pm
Quoting auther
{quote} Yup, looks like its going straight to 1180
Could still attempt to rebound above 1251 at some point (its oversold on the day).
"Where you want to be is always in control, never wishing, always trading.
  • #28,623
  • Nov 20, 2013 4:07pm Nov 20, 2013 4:07pm
http://www.tradingfloor.com/posts/tr...sion-206831290

  • #28,624
  • Nov 20, 2013 4:23pm Nov 20, 2013 4:23pm
Quoting Pip Anon
BOOM Told you. All about the paper...gold. No taper and gold sinks. It's always hard watching those try to swim up the current like salmon because eventually a giant grizzly BEAR eats you for lunch. {image}
FOMC strategy of neutral stances with tapering open is also aimed at gold markets. They need to keep the shiny metal away to support US recovery. Discussing or threatening neg dep rates will be next step.
  • #28,625
  • Nov 20, 2013 4:29pm Nov 20, 2013 4:29pm
Quoting Greener
{quote} FOMC strategy of neutral stances with tapering open is also aimed at gold markets. They need to keep the shiny metal away to support US recovery. Discussing or threatening neg dep rates will be next step.

in my country we say where they sing many cocks does nai day. last year the gold was going to $ 3,000 while and fell to continue to fall this year say that I point up. very up.
  • #28,626
  • Nov 20, 2013 8:55pm Nov 20, 2013 8:55pm
Quoting bugsbunny110
{quote} This s exactly what I am keeping say up from 1250- 1253 to 1430 then we wait and see but I expect more and more up Take care it is so Risky, but I believe it
Thanks for the vote of confidence. It collapsed to 1240 as you probably know, but this is the beginning. All depends on US government picking up responsibility now and dealing with debt burden. I am afraid that we may well see gold going to trade back down nearer the prices from late nineties than above 1980 again. There are several reasons for his thought, but it is only conjecture. There is no supporting data other than my opinion.

The surest and easiet hedge against inflation is to buy another currency other than gold or USD at this time. This is the reason why we are seeing a huge drop in gold and massive longs in other marques. Euros are readily available at most Forex counters globally and the denominations are reasonably high. The idea of physical gold is applicable to currencies, which are more easily traded. Gold requires a willing buyer, currencies just need a bank or affiliated exchange point. Even purchasing currencies as digital value is popular like in PayPal. Anyone who bought EU1000 after july 2012 and kept it would find that it has increased in value by around 35- 40% over the period to present. That is better than bank interest rates and outperforms the markets in trades as you don't need a stop loss, just an exchange point!

I am afraid to state this, but I hope it's wrong: another fracture point is developing today. Like predicting an earthquake, there is not exact point in time we can specify with certainty except that it is coming. There are warning signs like the price skittering on a glass ceiling of resistance for a long period of the day, or even many days in a narrow range. Which way it goes is what we are trying to bet on, so do your homework and see what your system tells you about the market. I wish I could trade the market as well as I see it... maybe someone reading my comments may have a string of successes and give me a gift... ah, we can all dream!
You win, you lose. All else is history. The future does not exist.
  • #28,627
  • Nov 20, 2013 9:18pm Nov 20, 2013 9:18pm
Quoting Pip Anon
And $1,250 it is, $1,200 next
posted Nov 11: http://www.forexfactory.com/showthre...88#post7084088

and now:
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next: http://www.forexfactory.com/showthre...72#post7097872
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #28,628
  • Nov 20, 2013 9:38pm Nov 20, 2013 9:38pm
I have been meaning to make a post all day.

Wrote two nice ones and lost them by accidentally hitting back on the browser!

FunfxFactory USED to save the text when this happened, (or it would just be there when you went forward. Not anymore....

I have one lined up..

Unfortunately, even tho I had some good ones - I ended up scalping today.
===============================================

Also working on a really cool design project which helps pass the time!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #28,629
  • Nov 20, 2013 10:13pm Nov 20, 2013 10:13pm
Quoting XTrade
I have been meaning to make a post all day. Wrote two nice ones and lost them by accidentally hitting back on the browser! FunfxFactory USED to save the text when this happened, (or it would just be there when you went forward. Not anymore.... I have one lined up.. Unfortunately, even tho I had some good ones - I ended up scalping today. =============================================== Also working on a really cool design project which helps pass the time!

hi XT,

might be an idea to write in an editor like Notepad and then when you're done, just copy&paste over to the thread editor.
cryptocurrency everytime
  • #28,630
  • Nov 20, 2013 10:23pm Nov 20, 2013 10:23pm
any analysis for today where the gold will land today
is this the buy point for gold and analysis
MRMALIK1
  • #28,631
  • Nov 20, 2013 10:28pm Nov 20, 2013 10:28pm
Long term investors in gold should be asking at this point: where is my stop, what is my 'uncle point' cause we are clearly in a bear market. http://localsfoolsgold.blogspot.be/2...-lifeline.html
  • #28,632
  • Nov 20, 2013 10:29pm Nov 20, 2013 10:29pm
Quoting ffleo
{quote} posted Nov 11: http://www.forexfactory.com/showthre...88#post7084088 and now: {image} next: http://www.forexfactory.com/showthre...72#post7097872
I been saying 1250 too. Still hold my 1038 target in the Q12014. I believe the Fed will taper during the first Q and send gold down, down down
When the facts change I change my mind, what do you do sir
  • #28,633
  • Nov 20, 2013 10:43pm Nov 20, 2013 10:43pm
i have two longs 1 from 1262 and 1250 should i hold them ore liquidate them any advise from any body any idea.
MRMALIK1
  • #28,634
  • Nov 20, 2013 10:52pm Nov 20, 2013 10:52pm
Quoting mrmalik1
i have two longs 1 from 1262 and 1250 should i hold them ore liquidate them any advise from any body any idea.
Depends on your time horizon. If you can't stay solvent, there's no point in trying to hold. Should see $1,250 once more.



Here is silver. Precious metals have been playing well technically. Broke key zones, reckon next stop $19.45

I won't by paper precious metals, but I'm starting to dip into bullion once more.
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When the facts change I change my mind, what do you do sir
  • #28,635
  • Nov 20, 2013 11:01pm Nov 20, 2013 11:01pm
This market is very weak overall, at least try to have a good stop in. Speaking right here and now as a daytrader:this is a short. Longer term this is a short too. Use stops if you are long. Use stops at all times. Intermediate term: I have no idea whatsoever.
  • #28,636
  • Nov 20, 2013 11:02pm Nov 20, 2013 11:02pm
Quoting Pip Anon
{quote} Depends on your time horizon. If you can't stay solvent, there's no point in trying to hold. Should see $1,250 once more. Here is silver. Precious metals have been playing well technically. Broke key zones, reckon next stop $19.45 I won't by paper precious metals, but I'm starting to dip into bullion once more. {image}
I am in +5GMT time zone
MRMALIK1
  • #28,637
  • Nov 20, 2013 11:20pm Nov 20, 2013 11:20pm
Quoting mrmalik1
{quote} I am in +5GMT time zone
Oh, I mean your outlook. How long were you planning to hold the position?

If it was only meant as a short-term or impulsive trade, no point keeping it. If you have the margin, and you feel that it will go up eventually than hold it.

Never turn a scalp into a position trade, rarely works out
When the facts change I change my mind, what do you do sir
  • #28,638
  • Nov 20, 2013 11:23pm Nov 20, 2013 11:23pm
Quoting Pip Anon
{quote} Never turn a scalp into a position trade, rarely works out
Any short term trader should have this line above his bed. It just almost never does. If you initiate on a certain timeframe or combo of timeframes you are best to get out along the same lines: otherwise painfull things can and will happen.
  • #28,639
  • Nov 20, 2013 11:25pm Nov 20, 2013 11:25pm
Quoting cvds16
{quote} Any short term trader should have this line above his bed. It just almost never does. If you initiate on a certain timeframe or combo of timeframes you are best to get out along the same lines: otherwise painfull things can and will happen.
Yes, that's the plan. If you have one
When the facts change I change my mind, what do you do sir
  • #28,640
  • Nov 20, 2013 11:49pm Nov 20, 2013 11:49pm
Quoting mrmalik1
i have two longs 1 from 1262 and 1250 should i hold them ore liquidate them any advise from any body any idea.
mrmalik,

Difficult to advise on money matters, so decide for yourself from analysis, mrmalik: There may be another push to 1230 or 1200 below. But for now:

1) the daily RSI is diverged on this low and it has no prior reverse divergence to the previous low which usually implies reversal (in this case to the upside).

2) PA has hit a TL drawn from the 2011 top that demarkates critical reversal points along PA up to this point (I think @mave posted it 2 days ago).

3) The 78% retracement Fib of the prior advance has been struck and rejected PA

4) i count 5 waves to the downside - although there is no way of being sure the last wave is complete. Hence another push down may be on the cards.

I would let those longs ride and define a hard stop at say yesterday's low to sacrifice them to the Golden Calf. As much as I am bearish on Gold this could be a pivotal Bullish moment since we have hit a confluence zone of the TL i mention above, the 78% Fib level of the Jul/Aug advance, as well as the lower channel line of the decline since end-October. There may be slow creep down this channel line to form an additional subwave down, so keep a cautious watch.
cryptocurrency everytime
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