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

  • #30,541
  • Dec 16, 2013 9:44am Dec 16, 2013 9:44am
Quoting waifong
{quote} means we can go short ? which level we could go for short ?
You can, but it does not looks like a good entry for shorts to me. And did you see sellers coming in now?

I close my longs because I have some big position now since I had a pending long order @ 1239. Plus the previous buy order I had @ 1234, which already gave me a good profit for a Monday.
  • #30,542
  • Dec 16, 2013 9:44am Dec 16, 2013 9:44am
1250 for today?if bulls are strong enough.normally,in asia session tomorrow,it down again.if not so,bulls come back.
  • #30,543
  • Dec 16, 2013 9:49am Dec 16, 2013 9:49am
Quoting waifong
{quote} means i can long @ 1252 ? Fxpro stated if break 1250 can go for 1268.
Just to share some of my pending short orders which you might find helpful.

Now we are at the resistance of a old trend line which was broken days ago, and 50% fib retracement...
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  • #30,544
  • Dec 16, 2013 9:52am Dec 16, 2013 9:52am
Quoting waifong
{quote} means i can long @ 1252 ? Fxpro stated if break 1250 can go for 1268.
You missed chance to go long @1228. Ship has sailed, train left station. You can't get on it now. Wait until tomorrow. Maybe you get a better chance then.
You win, you lose. All else is history. The future does not exist.
  • #30,545
  • Dec 16, 2013 10:04am Dec 16, 2013 10:04am
thanks all master sharing.

i not dare to long at 1226, i saw the trend is down trend .
  • #30,546
  • Dec 16, 2013 10:09am Dec 16, 2013 10:09am
Gold has behaved like a dog today. It played with us all for a while, then when it's masters came home it ran away from us all like we weren't worth the effort. BAD DOG!
You win, you lose. All else is history. The future does not exist.
  • #30,547
  • Dec 16, 2013 10:22am Dec 16, 2013 10:22am
From:
http://www.businessinsider.com/count...ited-states-10
10 Countries Sitting On Enormous Mounds Of Gold
1. United States
Official gold holdings:
8,133.5 tonnes
Percent of foreign reserves in gold:
71.7%
The U.S. had its largest gold reserves in volume terms in 1952, when reserves totaled 20,663 tonnes. Holdings first fell below the 10,000 mark in 1968.
You win, you lose. All else is history. The future does not exist.
  • #30,548
  • Dec 16, 2013 11:16am Dec 16, 2013 11:16am
Quoting The Rhodie
{quote} Even a broken clock is right twice a day. Does that mean it is correct all the time? The religious will say yes. The sensible will say that the clock is right for 2 seconds out of 86400. Not terribly accurate. Just because you saw something amazing doesn't mean that it is right. Just because you predict something by accident doesn't mean you're always right. I like to see success 80% or better all the time. As an example: http://www.forexfactory.com/showthre...03#post7158803 I don't like this accumulation of bars here....
well, just my thought is also upward... which base on chart

somehow hit my sl in breakeven which lead me less profit
  • #30,549
  • Dec 16, 2013 11:58am Dec 16, 2013 11:58am
If you guys are day trading it makes absolutely no sense to me to be loading positions in EITHER direction.

As I had mentioned before the market is sideways bound, it will "TECHnically" remain so Until either of the TWO happen

A. 1300 breaks and is flipped support with confirmation around 1310 -> BUT STILL needing to take out 1350 for progression/

OR,

B 1200 breaks and on retest is Rejected, Rejection would come likely around 1215/18 and then 1200 would need to be sealed up as resistance which would IMMEDIATELY lead towards a push to 1180 Old reaction low and 1150 Neg.

Looking at the chart
1234/5 area bounced around off the initial dip down from Friday's gains on Aussie / Asian
it held then the price bounced on mostly mixed / negative data,
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,550
  • Dec 16, 2013 12:00pm Dec 16, 2013 12:00pm
after 1245 went it was open season on a test of 1250
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,551
  • Dec 16, 2013 12:04pm Dec 16, 2013 12:04pm
Quoting XTrade
Sideways range remains intact. There is a bunch of news to mind this week though. See last line in calendar pic, FOMC... {image} {image}

Last chart in ""ed post and new chart with the break through the congestion level around 1235
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,552
  • Dec 16, 2013 12:16pm Dec 16, 2013 12:16pm
Trades of today:

Long: 1228.78
Closed: 1233.35

Long: 1234
Closed: 1250.12

Currently Short: 1250.53 (good risk vs reward)
Targets: 1240-1212-1180.
Stop 1252.

O/T Also short EUR/USD (1.37538) (check out the Daily Pin Bar)
Trade with what you see, not what you feel.
  • #30,553
  • Dec 16, 2013 12:24pm Dec 16, 2013 12:24pm
Sell gold from my rejection zone (blue zone) TP 1223
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  • #30,554
  • Dec 16, 2013 12:29pm Dec 16, 2013 12:29pm
I think we can go long




Price
1242.0
TP1
1251 (90 Pips)
TP2
1260 (180 Pips)




SL
1237.0 (50 Pips)
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  • #30,555
  • Edited 12:59pm Dec 16, 2013 12:48pm | Edited 12:59pm
Quoting Rebels
I think we can go long Price 1242.0 TP1 1251 (90 Pips) TP2 1260 (180 Pips) SL 1237.0 (50 Pips)
I think you can tight your SL. If it breaks 1240, there will be a lot of stops just below that, so will help to push to 1237.
  • #30,556
  • Dec 16, 2013 12:51pm Dec 16, 2013 12:51pm
Quoting Rebels
I think we can go long Price 1242.0 TP1 1251 (90 Pips) TP2 1260 (180 Pips) SL 1237.0 (50 Pips)
I have two shorts running from 1250, and more above that. To me a break of 1242 is a signal of trend change. However there must be some buyers @ 1242, wishing to see a new high.
  • #30,557
  • Dec 16, 2013 12:57pm Dec 16, 2013 12:57pm
Quoting LarryLU
{quote} I have two shorts running from 1250, and more above that. To me a break of 1242 is a signal of trend change. However there must be some buyers @ 1242, wishing to see a new high.
I agree 1242 is important point and break of it push me to wait position.
for sl I think if price decide to go up, maybe 50 pip for sl is enough.
good luck
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  • #30,558
  • Dec 16, 2013 12:59pm Dec 16, 2013 12:59pm
Looks like gold is merely ranging now... wouldn't be surprised to see this fall back to 1220s in 2 days' time.
"Where you want to be is always in control, never wishing, always trading.
  • #30,559
  • Dec 16, 2013 1:03pm Dec 16, 2013 1:03pm
Quoting Rebels
{quote} I agree 1242 is important point and break of it push me to wait position. for sl I think if price decide to go up, maybe 50 pip for sl is enough. good luck
THanks, btw very good trading record!
  • #30,560
  • Dec 16, 2013 1:09pm Dec 16, 2013 1:09pm
Anyone knows why the stock indexes getting higher? Looks like they already know there won't be any taper this month, but how can they be so sure? I did not expect any up move until the decision has been published, suprising... In this case gold should been down I guess... Confusing!
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