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

  • #31,341
  • Jan 7, 2014 6:56pm Jan 7, 2014 6:56pm
Interesting juncture for weekly Gold
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  • #31,342
  • Jan 7, 2014 9:31pm Jan 7, 2014 9:31pm
Quoting KiwiOz
Back in action again after visiting inlaws n outlaws. Gold on the way down again.?? Nasty spike that was.....But sometimes spikes can be used to your advantage........ {image}
it seems a high potential today ya.
Gold is my pleasure.
  • #31,343
  • Jan 7, 2014 10:10pm Jan 7, 2014 10:10pm
Quoting vallauris
Interesting juncture for weekly Gold {image}
QUITE interesting and technically important. potential double bottom.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,344
  • Jan 7, 2014 10:13pm Jan 7, 2014 10:13pm
LL - if you like to test out a long just split the first entry in half or 1/3rd of initial buy, then if she dips, double up on support. Depending on PA and news obviously.

I hate paying the spread if I don't have to...

Quoting LarryLU
Buy @ 1230. TP 1249. SL 1224 Excuse me. After further analysis, I think it is not a good entry to me. Closed at BE. Potential trade to me in next hours is: Long @ 1221-1223. SL 1219. TL 1249. In next days I think we can see a test of 1200 again. Then I will buy at that price.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,345
  • Jan 7, 2014 10:14pm Jan 7, 2014 10:14pm
At this point I don't think we will have any possible REALLY DECISIVE action till' MARCH mid...
Quoting Pair-me-up
Only looking at the TA on my weekly chart.. However, it kind of looks like a bearish continuation pattern. Nevertheless, the week is not over yet, so it is really too early to say for sure. However, if it is a bearish continuation pattern, it is one that will take it below 1180 for sure in my opinion. Ya'll trade at your own calculated risk and good luck.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,346
  • Jan 7, 2014 10:19pm Jan 7, 2014 10:19pm
It's a bunch of banker talk... It makes sense and doesn't if you want a read on it it's all yours below.
http://unstats.un.org/unsd/nationala...ers/m4Gold.PDF

TRYING to put this into a sentence right now but don't really have the patience! I'll get it done though!


Quoting Ssm
Refering to today's Australia international trade numbers: CREDITS (EXPORTS OF GOODS AND SERVICES) In seasonally adjusted terms, goods and services credits rose $94m to $27,377m. Non-rural goods rose $93m (1%) and rural goods rose $18m (1%). Net exports of goods under merchanting remained steady at $44m. Non-monetary gold fell $61m (4%). Services credits rose $45m (1%). What is non-monetary gold refering to? Thanks in advance.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,347
  • Jan 7, 2014 10:35pm Jan 7, 2014 10:35pm
Quoting XTrade
It's a bunch of banker talk... It makes sense and doesn't if you want a read on it it's all yours below. http://unstats.un.org/unsd/nationala...ers/m4Gold.PDF TRYING to put this into a sentence right now but don't really have the patience! I'll get it done though! {quote}
looks bearish
a master piece by kim , real king for charting forex , hatts off for u boss
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  • #31,348
  • Jan 8, 2014 1:44am Jan 8, 2014 1:44am
Quoting razaali
{quote} looks bearish a master piece by kim , real king for charting forex , hatts off for u boss {image}
I think this week gold have a wall steel at 1221, must be going to 1266 first, and than strong bearish breaking 1200.. )
Good Finance Good Life for Good People
  • #31,349
  • Jan 8, 2014 2:47am Jan 8, 2014 2:47am
Quoting Ahmed Seira
{quote} I think this week gold have a wall steel at 1221, must be going to 1266 first, and than strong bearish breaking 1200.. )
It serve you at 1222 sir.now i am waiting after this correction,will go up
  • #31,350
  • Jan 8, 2014 2:57am Jan 8, 2014 2:57am
Quoting Ahmed Seira
{quote} I think this week gold have a wall steel at 1221, must be going to 1266 first, and than strong bearish breaking 1200.. )
lets see 1222 give support or not but for today 2 biggest event will give u real direction
1 - is adp non form
2 - is fomc meeting minutes

one thing sure there is no wall streel in forex, people were talking about 1520 wall steel than 1480 than 1420 than 1375 than 1350 n so . it samashed down all .

have a safe trading
  • #31,351
  • Jan 8, 2014 3:17am Jan 8, 2014 3:17am
I have a neutral bias on gold.
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  • #31,352
  • Jan 8, 2014 3:19am Jan 8, 2014 3:19am
Quoting XTrade
LL - if you like to test out a long just split the first entry in half or 1/3rd of initial buy, then if she dips, double up on support. Depending on PA and news obviously. I hate paying the spread if I don't have to... {quote}
Hi Xtrade,

Thanks for the advise. Actually I closed earlier because I do not want to burden the risk of uncertain movement of last night. To me the PA looks like consolidating to me, so in these days I will only take trades with good entry and tight SL. I will only build my long-term portfolio gradually after the price drop close/below 1200 and then move back. It may looks stupid but it is a good way to reduce my risk by only sacrificing a little profit.

Update: My order was triggered @ 1223.5. SL 1218, TL 1245.
  • #31,353
  • Jan 8, 2014 3:39am Jan 8, 2014 3:39am
Quoting KiwiOz
Back in action again after visiting inlaws n outlaws. Gold on the way down again.?? Nasty spike that was.....But sometimes spikes can be used to your advantage........ {image}
Slowly but surely...Apipin we shall go.
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Money Makes Money
  • #31,354
  • Jan 8, 2014 7:48am Jan 8, 2014 7:48am
Quoting LarryLU
{quote} Hi Xtrade, Thanks for the advise. Actually I closed earlier because I do not want to burden the risk of uncertain movement of last night. To me the PA looks like consolidating to me, so in these days I will only take trades with good entry and tight SL. I will only build my long-term portfolio gradually after the price drop close/below 1200 and then move back. It may looks stupid but it is a good way to reduce my risk by only sacrificing a little profit. Update: My order was triggered @ 1223.5. SL 1218, TL 1245.
being the same boat.
  • #31,355
  • Jan 8, 2014 8:05am Jan 8, 2014 8:05am
1222.... what next?
visit www.OlimpiaFX.com
  • #31,356
  • Jan 8, 2014 8:09am Jan 8, 2014 8:09am
Quoting olimpia
1222.... what next?

If she can stay above 1220 it might rise back a bit towards 1225 mid between 1230 and 1220 - sub 1220 look for 1215 in small movement terms. IMO.


ADPs number was good, yet I often find this number and the real NFP to be skewed with the NFP being lower

Dollar Gains as Treasuries Fall With Gold on ADP Report
By Stephen Kirkland and Nick Taborek Jan 8, 2014 8:42 AM ET
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,357
  • Jan 8, 2014 8:23am Jan 8, 2014 8:23am
Hey mate, If you "just don't feel right about a trade" sometimes it is better just to wipe it clean and lose the spread, rather than getting stuck holding a loser.

Obviously your intuition here was right.

I might, if you are shooting for 1245 increase the stop to below 1215.

1223 - 1215 on an 8 USD loss - but you are trying to make an over 20 USD move up.

So there's really no issue with even putting it at a 1:2 ratio iMO thus making the stop 1213 and your reward is still a potential 22 USD move.

Quoting LarryLU
{quote} Hi Xtrade, Thanks for the advise. Actually I closed earlier because I do not want to burden the risk of uncertain movement of last night. To me the PA looks like consolidating to me, so in these days I will only take trades with good entry and tight SL. I will only build my long-term portfolio gradually after the price drop close/below 1200 and then move back. It may looks stupid but it is a good way to reduce my risk by only sacrificing a little profit. Update: My order was triggered @ 1223.5. SL 1218, TL 1245.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,358
  • Jan 8, 2014 8:43am Jan 8, 2014 8:43am
Price looks like it may want to dip below 1220, there is still an FOMC minutes today at two pm.

I doubt there will be any change in rates, yet they could announce further attempts at tapering off QE.

In any case as for now, I don't see the ADP release alone being enough to push price through 1215, but you never know....

The other days spike and trading halt sure was a wake up call - also suggesting the market is divided in sentiment and acting a bit funny still so early into the new year just my thoughts...
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #31,359
  • Jan 8, 2014 8:55am Jan 8, 2014 8:55am
Quoting XTrade
Hey mate, If you "just don't feel right about a trade" sometimes it is better just to wipe it clean and lose the spread, rather than getting stuck holding a loser. Obviously your intuition here was right. I might, if you are shooting for 1245 increase the stop to below 1215. 1223 - 1215 on an 8 USD loss - but you are trying to make an over 20 USD move up. So there's really no issue with even putting it at a 1:2 ratio iMO thus making the stop 1213 and your reward is still a potential 22 USD move. {quote}
1215 is also the 50% Fibonacci of recent rally. I changed my SL to 1214, thanks for your advice Xtrade!
  • #31,360
  • Jan 8, 2014 10:13am Jan 8, 2014 10:13am
Anytime = 1220 holding on so far as interim support.

1218 was in the risk zone, At least in the event of a dip past 1220 - 1215 "Should" hold.

Yet market will likely be quiet until after the FOMC minutes.

It's always good to have stops out of the risk and DIP zones! For instance, say there were no minutes today and we were just dealing with
1220 for now, a stop at 1218 area is asking to get hit on a dip of 1220, often these minor supports will hold but the price will pass through first before rebounding up or down... Same theory for trading short and using resistances to place day trade stops.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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