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

  • #32,621
  • Feb 17, 2014 7:36pm Feb 17, 2014 7:36pm
Quoting Ulterior
{quote} of course, its difficult to tell where it might or not reverse, I am prepared to hold as long as its needed for 1350, I just feel its my goal and I am ready to take a beating if necessary I have 4 buy limit orders ready, 1319,1312,1296 and 1280
Yeah as long as you can withstand the downswing I'd imagine you will do very well in coming months because gold should go to 1400+, but 1322 level is pretty important and the move the past it to 1330 or so was just a fake before the correction to come IMO. I believe 1300 will get hit and probably 1290 this week. We'll see tho. If 1322 level holds can def just go straight up.
  • #32,622
  • Feb 17, 2014 7:43pm Feb 17, 2014 7:43pm
Quoting Ck87
{quote} Yeah as long as you can withstand the downswing I'd imagine you will do very well in coming months because gold should go to 1400+, but 1322 level is pretty important and the move the past it to 1330 or so was just a fake before the correction to come IMO. I believe 1300 will get hit and probably 1290 this week. We'll see tho. If 1322 level holds can def just go straight up.
sure, plenty of room for any unexpected moves I think this week, prior to expiration of February options, we will touch it, after that I will wait for some huge correction to 1250
  • #32,623
  • Feb 17, 2014 7:46pm Feb 17, 2014 7:46pm
Quoting Ck87
Let's see if this H1 pin bar ends up giving a nice sell off....Probably not.. {image}

How's everyone doing trading in here?? About to read back a bit.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,624
  • Feb 17, 2014 7:47pm Feb 17, 2014 7:47pm
Quoting XTrade
{quote} How's everyone doing trading in here?? About to read back a bit.
hey X, got my share of a cake on sunday/monday, couldnt resist floating on that momentum
  • #32,625
  • Feb 17, 2014 7:54pm Feb 17, 2014 7:54pm
Quoting XTrade
{quote} How's everyone doing trading in here?? About to read back a bit.
Hi XT,

I want to ask your kindness about your recommendation for getting long. I just wonder at what price. Shall I go long now or wait for more retracement?
Thanks,
  • #32,626
  • Feb 17, 2014 8:05pm Feb 17, 2014 8:05pm
Quoting Ck87
Let's see if this H1 pin bar ends up giving a nice sell off....Probably not.. {image}
Cheer. H1 has divergence - doji - Resistance 3 (Pivot) --> Downtrend
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  • #32,627
  • Feb 17, 2014 8:10pm Feb 17, 2014 8:10pm
There's no current extreme reason for Gold to "sell off" as you are saying.

The new - but semi - Mild thus far, mid term trend of UP - Sure - with any movement a correction of sorts is always looming and a dangerous trade for newbies and intermediate's.

The price could fall 20 bucks in a day easily all to just be snatched up and the shorts stopped out, further propelling the price higher.

There is no doubt that the power above 1255 would hit upon break of the 1270/5 areas.
Shorts were covered, as well as new longs in spot and futures, once some momentum picked up.

Just a friendly warning to be careful so you don't blow your account!
---------------------
What is your target for this short? Are you just hoping for luck? Or is there a trade plan?

Quoting Ck87
Let's see if this H1 pin bar ends up giving a nice sell off....Probably not.. {image}
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,628
  • Feb 17, 2014 8:12pm Feb 17, 2014 8:12pm
With caution I would be keeping Eyes on these dips, with some focus on 1315 and 1305 upon a little day slide.

On the flip side, price is currently 5 USD down or so, and it could simple get bought.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,629
  • Feb 17, 2014 8:13pm Feb 17, 2014 8:13pm
Quoting XTrade
There's no current extreme reason for Gold to "sell off" as you are saying. The new - but semi - Mild thus far, mid term trend of UP - Sure - with any movement a correction of sorts is always looming and a dangerous trade for newbies and intermediate's. The price could fall 20 bucks in a day easily all to just be snatched up and the shorts stopped out, further propelling the price higher. There is no doubt that the power above 1255 would hit upon break of the 1270/5 areas. Shorts were covered, as well as new longs in spot and futures, once some...
1300 area. If you look at the recent rally it's just been straight up. While there may not be an extreme reason for gold to sell off, there's definitely no extreme reason for it to go up every day without coming back down at all.

PS, like I said i am bullish on gold, but can't be delusional and expect it go up every single day. Momentum is overbought on higher time frames. Maybe that H1 pin will be the beginning of a $20-30 down move, maybe not. 1320 was my target when we were below 1250, so now that we're here I'm very open to a move to $1290-1300
  • #32,630
  • Feb 17, 2014 8:32pm Feb 17, 2014 8:32pm
X, you mentioned you're long from 1190, which is awesome and I admire you as a trader/investor. Will you be adding to your longs if we dip to $1270-$1300?
  • #32,631
  • Feb 17, 2014 8:46pm Feb 17, 2014 8:46pm
Quoting Gold-lover
{quote} Hi XT, I want to ask your kindness about your recommendation for getting long. I just wonder at what price. Shall I go long now or wait for more retracement? Thanks,

Sure, let me take a look at the charts again.

One thing is that you should pick a session that you will trade for the most part or both a single and double Like NYC/LDN and then into NYC close.

Not that if you have a great entry you shouldn't take it, but sometimes, market to market can be adverse.

Right now it's just more profitable to buy dips and ride longs. We have gone now from a retest and failure to breach the 1180s,

Since then and with the aforementioned level on breach and close at 1270 / 5 would attract more large cap specs.

people are stll wary/cautious though and you should be too - within reason that is.

Let me take a look,,,
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,632
  • Edited 9:11pm Feb 17, 2014 8:52pm | Edited 9:11pm
Thanks Mate! I appreciate that, .

I had already added at around 1255. Looking for a close above and then push to finally break 1275 area, which so far we got.

I took profit from the original position once when we were lagging around 1275...

1300 although rather a more psychological level is always a good place to look support if price is above and resistance if lower.
What you will get in this area is a ten USD split,
1305 can provide support and likewise 1295.

--- trend continues with the current stability - I will look to add again likely around 1300+ first or if there is a substantial correction - ie: around 50 bucks south I would look immediately (which you identified) to 1270/5 areas. I have been slacking on my news reading as of late, besides, unemployment, FOMCs, NFPs etc.


Looks like you might be in profit now on the short? I have to look back.



Quoting Ck87
X, you mentioned you're long from 1190, which is awesome and I admire you as a trader/investor. Will you be adding to your longs if we dip to $1270-$1300?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,633
  • Edited Feb 18, 2014 12:08am Feb 17, 2014 9:18pm | Edited Feb 18, 2014 12:08am
Quoting goldring
{quote} Cheer. H1 has divergence - doji - Resistance 3 (Pivot) --> Downtrend {image}
I just thought I'd warn you. The pivot indicator which you're using repaints. If you choose to sell (I wouldn't), proceed your trade with caution.

EDIT: It turns out that we are in a downtrend now.
  • #32,634
  • Feb 17, 2014 9:25pm Feb 17, 2014 9:25pm
Quoting XTrade
Thanks Mate! I appreciate that, . I had already added at around 1255. Looking for a close above and then push to finally break 1275 area, which so far we got. I took profit from the original position once when we were lagging around 1275... 1300 although rather a more psychological level is always a good place to look support if price is above and resistance if lower. What you will get in this area is a ten USD split, 1305 can provide support and likewise 1295. --- trend continues with the current stability - I will look to add again likely around...
Currently , yes, I did expect that we'd find support at that 1321-1322 level, a little concerned that we may shoot to the upside from here, but I guess I'll take my chances for now. It just seems like a good spot to get a $20-30 sell off to initiate fresh longs at discount. I hope that's the case.

What's your target for your second position? $1400?
  • #32,635
  • Feb 17, 2014 10:13pm Feb 17, 2014 10:13pm
Quoting Ck87
{quote} Currently , yes, I did expect that we'd find support at that 1321-1322 level, a little concerned that we may shoot to the upside from here, but I guess I'll take my chances for now. It just seems like a good spot to get a $20-30 sell off to initiate fresh longs at discount. I hope that's the case. What's your target for your second position? $1400?
good morning Ck87,

what do you think good price to buy at 1317-1318. more lower more good right ? lol..
on bigger time frame this is one little correction.
  • #32,636
  • Feb 17, 2014 10:24pm Feb 17, 2014 10:24pm
Quoting asia_fx
{quote} good morning Ck87, what do you think good price to buy at 1317-1318. more lower more good right ? lol.. on bigger time frame this is one little correction.
I'm the last one to give any advice. But I'd say $1270-$1290 should be really good. There's absolutely no guaranteeing we're getting there though.

As far as a shorter term scalp this 1321 level could be a really nice one to buy at for 1327ish.

I'd be pretty scared to buy here though because the momentum looks really bad right now on high TF's, if we do get a spike back up to 1327-1330 area I'm going to look for sell set ups during London.
  • #32,637
  • Feb 17, 2014 11:50pm Feb 17, 2014 11:50pm
Quoting Nitsan_Levi
Hi my name is Nitsan Trade about seven years I will start to raise here deals I take GOLD 1DAY short ...you can see last strong long in the gold in the pic....and now short may start to speak. {image} {image}

the downside come from the AB=CD i add here and in the "only gold" thread.

http://imagizer.imageshack.us/v2/102...0/854/0qol.jpg
http://imagizer.imageshack.us/v2/102...90/38/n7hx.jpg
http://imagizer.imageshack.us/v2/102...90/27/cxww.jpg

first first profit out in 1310 (70%)...then 1300(20%)...then the last 10% in new low..very low...1150
  • #32,638
  • Edited Feb 18, 2014 12:08am Feb 17, 2014 11:50pm | Edited Feb 18, 2014 12:08am
Personally think might waiting till London Open to take a trade or at least EUR/TKYo "sesh's"....

Unless already in..

Also, keep an eye on 1315 for interim support. If that goes next area should be about 1305 +

Be careful here.

London could pull a headfake, initially buying huge orders - causing rise - then dumping them early on to get a better trade.


She is still correcting right now though.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32,639
  • Feb 18, 2014 1:03am Feb 18, 2014 1:03am
Hello everyone. A good day to you all.Looking at the market in gold today, I notice that this is the first hint that we may have topped out for the time being. Now that we come to the Asian close, I am wondering how far gold will rally before it falls over properly. this is one of two things: topped nd falling over or retracement before continuing a long trend. I suspect the latter and will make good use of intraday shorts for a longer term long posion.

Anyone got ideas about this line of thinking?
You win, you lose. All else is history. The future does not exist.
  • #32,640
  • Feb 18, 2014 2:17am Feb 18, 2014 2:17am
Interesting week, however stochastic seem overbought.
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