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

Keep an open mind about buying Sliver at 19.5X with a stop lose under 19.46 ( Before the feds of course)

U mean a drop to 19.5X before FOMC?

I think yes..

Gold shakes off Fed fears to post gains
http://www.marketwatch.com/story/gol...ins-2013-12-17

20.X seems to be resisted several times. More like shorting that level for scalps is the way till FOMC.

Well the obvious is yes, 20.0 - 20.50 has been acting as a bull trap lately. But under it there is some mega buying, so one has to go - the 20.50 or the 19.50 for now. So, i will apply a ranging strategy - choose one direction and u will only get it wrong once.

Probably a 50/50 chance of a very small taper, like 5-10b.

The taper of QE3 is inevitable. Today or tomorrow does not the matter of when. Just because it can not prolong any more. QE3 taper is to show that the US economy is recovering despite the fact that there ara many weakness in its body. The way they do it just for lifting the value of their currency. It means to devalue other thing like gold, silver...etc. And to encourage the debt holder like China that USD China hold is not valueless paper. And China relizes that the big boy plays unfair. He willing to throw USD back to Uncle Sam and holding other currency lile Euro.

I doubt there would be tappering on Dec, the timing somehow off not to say one of the worst. The welfare cost for the economy could be lower significantly for tappering if happened on jan to march. For now, convincing economics agents that tappering is imminent would be right on sweet spot. The central bankers are among the best actors around, lol.

Refer to month chart, gold is under the C wave. Ending of C wave need confirmation of bottom on the W chart.

Agree with last posts, yet I don't trade EW so a chart would be nice.

Tapering.

Well, I too DOUBT that the FED will announce it today.

YET, as namaus mentioned it is inevitable.

So I don't underestimate the FED or the "powers that be."

The news media would like people to believe this is solely a US based FED decision, I tend to disagree and feel that all countries,
or Global Powers,
take turns in systematically debasing their own currencies - planned.

Thus, if it were to happen today, will I be shocked? NO, if it doesn't I will be EVEN LESS shocked.

Market is flat ahead of FOMC - a little boost up can be seen in the second chart.

If you guys really want to trade this release place a sell below 1228 and get long on any minor pullback with your stops below 1225

Long immediate target 1 would be 1250

Short immediate target 1 would be 1200 but trying to get filled at appx 1205

On taper we could go below 1200 - without gold will likely hit 1250 area + then perhaps 1275 and fizzle out. 1300 would be the limit as I see it for now.

This BS from the fed is likely mostly priced into gold already as I have mentioned countless times,
yet maintain on the actual release there will be a drop.

Quick trade: Short @ 1244, closed @ 1235...

Lol, tapering on the way

Fed tapers monthly asset buys by $10B
Gold up, but not pass 1245.

Short @ 1243 & 1240. SL 1246, Target 1215-1225

10b taper, within my expectations.

why so silence

XAUUSD bounced between 1225 - 1245 before Fed comements, took the opportunity to buy at 1230 , TP target 1260 & 1300 , SL < 1200
1200 has been long term support , what are the fundamental views on the price of gold considering that the taper has been announced

because some accounts do not exist any more