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

thank you!

fwiw, im looking for gold at 1050; you cant be long gold and long growth at the same time...but then again, im not a day trader... just my 2 cents

Yes i scalp, i bank and i speculate long term, but not higher than 1hr, so maybe the last ones a miss.
I do however favor a higher gold.

Gold prices will top $10,000 per ounce, the stock market will tank and Treasurys will yield less than 1 percent
quoting Marc Faber, that 'The Fed Will Destroy the World' through their money printing. Rapid inflation surely beckons. But that will not occur without firstly a Japanese-style loss of confidence in policymakers as we dive back into recession and produce dislocative market moves."
http://www.cnbc.com/id/100672709

I was hoping Wolf of Wall Street would pick up a few more awards at the oscars, instead a gay rodeo flick stole the pony

http://static6.businessinsider.com/i...ait-to-see.jpg

Ive seen some data before but this takes the cake, fxbook are always pushing the boundaries
My take is that this shows trading volume averaging 1 lot on XAUUSD per minute, brokers vary, see list

http://www.zerohedge.com/news/2014-0...le-was-removed

Sorry if this has already appeared on FF; I rarely have time during the week to see much that is posted.

Thanks Greenstar, pertinent article, shows you what we are up against, then again hopefully we are trading price, so she goes up we follow. Those that are being affected are futures traders and the like, not really retail am i correct?

Below my current read of kitco line price

Currently still short XAU using kitco price line strategy
Two longs are closed, i sensed closing at 1340, she was not going to break out today but tomorrow after almost 36 hours consolidation monday price line will not be on the chart (sky blue line) so a break either side is definitely on the cards. will post with entries tomorrow..
ou est xtrade? where is the curator of this thread?!

Suggestion, there is a long setup as per the arrow with one of my strategies (25% probability), i know its at the top of the day fortunately i didnt take it yet, psl would be 110 pips around 1329 (see ticket)

Currently short on kitco system, but this could be a dump and pump we are seeing
If price shoots above 1345, go long to 1350

Two nice reversal bars (1), also alot of them of you look to the left, alot of tails pushing price back to 1338 region, however this last drop has pushed price below trend line (2)
So trend change perhaps, im 80% on a bear market for XAU

Its all sideways ofcourse with up and coming news so its all messy right now, bottleneck..
however i like this support zone, price may push lower to get stops and then resume long trend (news permitting)

Swaped to long (kitco system - target 1348.5)

(1) Breakout as was expected, the kitco chart is a tad slow,
(2) above 2 previous price lines by at least a grip space
(3) target

good posts verve.

Cheers
XAG is also a potential long soon using same grid and previous price lines
They may both have pullbacks, but its now generously in the bull territory

XAG is now long, the kitco chart must be delayed by 10 min at least
so have in mind where the entry is and use mt4 chart
Word of warning this XAG is not worth the hassle, large spread for 5-10 measly pips

1 - break out
2 - move by at least a grid space
3 - target

i am long both gold and silver, when i look at charst isee we r trying to break weekly trend line on gold but tomorrow we have nfp, it is my only concern about keeping my longs coz market may want to wait tomorrows data and keep prices sideways till news. i took my sl to be hope it wont touch.

SL below 1334, i think is safe as 1338 is now primary support.
It could as you say sidetrack until tomorrow, but that 80 pip bar is being supported, no urgent retracement just yet

it may perch on this mid fork

Predictable price pattern.

Just btw i used to have another alias but ive been made 'commercial' on this site twice, so now im laying low and just posting insight as always
my recent blacklist to commercial user was cos of posting another biz' mt4 copiers, i get no say, just turfed.
Anyway as im a martingale trader, i can only post this kitco price system, one of my many strategies, i believe this one to have a higher hit rate, as does St202 (will post trades from that asap) bye for now