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

  • #30,881
  • Edited 11:49am Dec 20, 2013 10:48am | Edited 11:49am
You have a link for that? I'd like to read it.

Also, in physical buying even if you bought at 1180 and again at 1220 your AVG price per ozt is now 1200..... This can be applied to trades as well.

The lowest I think it could hit is 1050. Will it get there? Hmmm. Not even so sure at this point. 1100 will be tough to break as it still hasn't tested below 1180

Everyone thought that on the taper announce we were going to crash like 300 bucks.

Quoting letscry
market made its move, everyone including me was waiting to tes 1180 but it tested 1187 and turned back, above 1200 my targets are 1214 and 1230 wish i coul enter earlier for long. i saw a comment today from commerzbank , they say after tapering is clear now gold can find its bot at 1220 area and now we can see a rally coz uncertainty is göne and ppl may start investing to gold.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,882
  • Dec 20, 2013 10:54am Dec 20, 2013 10:54am
Quoting XTrade
You have a link for that? I'd like to read it. Also, in physical buying even if you bought at 1180 and again at 1220 your AVG price per ozt is now 1200..... This can be applied to trades as well. {quote}
http://www.marketwatch.com/search?q=gold it was in here one of them but weird i cant open a comment which i read before
  • #30,883
  • Dec 20, 2013 10:54am Dec 20, 2013 10:54am
Could this be a short squeeze/bull trap before making it's way to properly test 1180?

Or is the 1180 area a genuine double bottom?

For now I have just gone short @ 1206.5.
Trade with what you see, not what you feel.
  • #30,884
  • Dec 20, 2013 11:07am Dec 20, 2013 11:07am
i wouldnt short before we break 1202.
  • #30,885
  • Dec 20, 2013 11:19am Dec 20, 2013 11:19am
Quoting letscry
i wouldnt short before we break 1202.
Good point, i am hoping we test that area again before close.
Trade with what you see, not what you feel.
  • #30,886
  • Dec 20, 2013 11:30am Dec 20, 2013 11:30am
Come on the Bears..

Make this close sub 1200.
Trade with what you see, not what you feel.
  • #30,887
  • Dec 20, 2013 11:46am Dec 20, 2013 11:46am
Quoting Basement
Come on the Bears.. Make this close sub 1200.

i just fcck up my account..dang...
i thought it's going south today...but not really..my gushh
Gold is my pleasure.
  • #30,888
  • Dec 20, 2013 12:08pm Dec 20, 2013 12:08pm
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  • #30,889
  • Dec 20, 2013 12:08pm Dec 20, 2013 12:08pm
Seriously thinking, the 1180 can not hold after or even before Christmas. On both technical (no strong pull back after breaking 1200) and fundamental side (looking at the Fed's promise of long-term low interest rate, while the market still treat this small amount of 10bln tapering very seriously).

Today we can not break 1210 is a signal to me, as last time when we reach 1180 at least we can see a strong pull back to 1210+. A lot of traders covers their positions today, just before Christmas, which leads to a strong pull-back of some high-beta currency pairs (USD/JPY, AUD/USD, ...). We may see further consolidation in next few days, within range 1180-1220. Or maybe we will see a Christmas surprise??
  • #30,890
  • Dec 20, 2013 12:10pm Dec 20, 2013 12:10pm
Hey Brother!
I thought I wrote back last night but I guess I forgot
!great post!

Yes, I speak to "beeb" all the time via email = I believe he can't post here because of his new "commercial member" status.
he from what I remember took a great career opp with a firm,

His thread is called "Coghlan Capital" it's in the commercial section.

He can't PM either but was interested in talking to you mate!

Here's the link
http://www.forexfactory.com/showthread.php?t=443273

What else is going on? I took a couple months off too - maybe two months from posting. Don't remember what the price was then.


XT-

Good to see ya!



Quoting Mitchoss
Hey guys, just thought I'd possibly start contributing to the forum rather than watching from the sideline for over a year. I must say Xtrade, it's great to see you still at it! and it seems your still in contact with beeb! To those of you who are new, I have to say do not get disheartened by a market move that hurts your account, every single trader has lost money in the beginning. If you are emotionally attached to any one trade you will not make a successful trader. Also, do not base your entry/exits on someone else's judgement, develop your...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30,891
  • Dec 20, 2013 12:38pm Dec 20, 2013 12:38pm
shortterm driving map:

please note the relativ strenght of XAG which is imho a bullisch sign.
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just do it
  • #30,892
  • Edited 1:04pm Dec 20, 2013 12:50pm | Edited 1:04pm
Quoting LarryLU
Seriously thinking, the 1180 can not hold after or even before Christmas. On both technical (no strong pull back after breaking 1200) and fundamental side (looking at the Fed's promise of long-term low interest rate, while the market still treat this small amount of 10bln tapering very seriously). Today we can not break 1210 is a signal to me, as last time when we reach 1180 at least we can see a strong pull back to 1210+. A lot of traders covers their positions today, just before Christmas, which leads to a strong pull-back of some high-beta currency...
I agree,

Also we have to note that it looks like it's going be Golds lowest weekly close in a very long time.

The week of 5th July's was 1223.

That clearly tells me the Bears are not finished yet.
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Trade with what you see, not what you feel.
  • #30,893
  • Dec 20, 2013 1:24pm Dec 20, 2013 1:24pm
Quoting tsorin
hi all, to me it looks like a throwback on the downward trendline (daily chart) which was broken on the 9-12th of December. I have opened a small long at 1190, just to see if I am correct. Sorry, I am at work and can't post a chart but it's easy to see it even on a webtrader. good luck to you, all
yes, that's the one.....
What do you think?
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  • #30,894
  • Dec 20, 2013 4:37pm Dec 20, 2013 4:37pm
Quoting Mitchoss
Currently long XAU 1190 (1lot) , 1202 (4lot) XAG 19.20 (5lot) Looking for gold to retest 1200 at which point I will close my longs at 1202, only holding my long at 1190. I'm not comfortable with the current price action, I was expecting a much more aggressive rally in the asian and london opening. Only time will tell! Looking for silver to test 19.46 on the upside and I will probably call it a day. Silver positions are on SL BE at this stage. Good luck everyone! We can't all be winners!
Still holding all positions listed above. Gold had a crack at 1210 prior to retreating to 1200, however we did not break down and the selling was not as aggressive as I thought it would be. Current PA (in my opinion) should retest 1220, retreat to 1210 and then will decide where to go from there.

Silver played out and retested the 19.46 I was targeting and retreated to 19.3 which was been a minor support in the past and seems to have held for the close. Monday I would expect to see us dip back to 19.3 to get a run up for another attempt at breaking 19.586 (a level I see as important short term resistance).

Happy weekend all and good luck with the last minute Christmas shopping if any of you are as unorganized as me haha!!


Mitch
  • #30,895
  • Dec 20, 2013 4:44pm Dec 20, 2013 4:44pm
Also for anyone who is interested, if you read/listen to those on kingworldnews (massively bias gold/silver bulls) they often refer to the COT report (Commitment of traders). The Commitments of Traders (COT) reports provide a breakdown of each Tuesday’s open interest for markets in which 20 or more traders hold positions equal to or above the reporting levels established by the CFTC.

http://news.goldseek.com/COT/

It is interesting to see the change in COT from the highs in 2011 to now, but it is also fascinating that commercials are no longer adding heaving amounts of shorts, but rather longs in the past couple of months, and the large speculators are reducing there exposure to the short side also.

Anyway food for thought its an interesting data set that can give you an idea of where the market sentiment is sitting.
  • #30,896
  • Dec 20, 2013 6:14pm Dec 20, 2013 6:14pm
Quoting KiwiOz
{quote} You may be a little premature with your short........I'm still expecting at least a touch of the daily Pivot.
Close enough for me. I expect to see the downtrend continue next week.............
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Money Makes Money
  • #30,897
  • Dec 20, 2013 6:27pm Dec 20, 2013 6:27pm
Quoting KiwiOz
{quote} Close enough for me. I expect to see the downtrend continue next week............. {image}
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Money Makes Money
  • #30,898
  • Dec 20, 2013 7:10pm Dec 20, 2013 7:10pm
m15 Andrew's Pitchfork

Second image with nearest Supply and Demand Zones / Blue=H4, Yellow=H1
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  • #30,899
  • Dec 20, 2013 9:39pm Dec 20, 2013 9:39pm
Quoting jsr
m15 Andrew's Pitchfork Second image with nearest Supply and Demand Zones / Blue=H4, Yellow=H1 {image} {image}

Hi jsr, can i ask you how to get the dotted lines within the pitchfork. Thanks
  • #30,900
  • Dec 21, 2013 9:12am Dec 21, 2013 9:12am
Quoting Lv5758
{quote} Hi jsr, can i ask you how to get the dotted lines within the pitchfork. Thanks
In Marketscope you have to do it by yourself.

1. Draw a Fibonacci from B to C, and include 25% and 75% retracement.
2. Draw a line over one of the lines of the pitchfork to match the slope and change it's style if you want (dashed, dotted, etc.)
3. Move the line and snap it to the 25% retracemente line.
4. Make a copy of the line (pressing ctrl while dragging) and snap it to the 75% retracemente line.

This mini-ml pitchfork fits inside the larger pitchfork that beeb showed us previously. Has a slightly different slope.
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