XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1742 | Metals Mine

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

  • #34,821
  • Feb 22, 2016 10:23pm Feb 22, 2016 10:23pm
Still long gold until pull back from 1235.3 will look to add before 1245.5 and over all target looking to take out previous high 1263.9. My current Bias is long.
the market can remain irrational longer than you can remain solvent
  • #34,822
  • Feb 22, 2016 11:31pm Feb 22, 2016 11:31pm
Gold is in its last leg of a triangle pattern (E). I expect 1225/1228 to max out upside for now. I will then be looking for a short position down to 1180/1170. 1158 might be a realistic target as well (trendline).
  • #34,823
  • Feb 22, 2016 11:58pm Feb 22, 2016 11:58pm
For today sell below 1226
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -629
  • #34,824
  • Feb 23, 2016 3:38am Feb 23, 2016 3:38am
https://www.tradingview.com/x/B4SvG9vg/
  • #34,825
  • Feb 23, 2016 6:34am Feb 23, 2016 6:34am
another roller coaster day for gold
  • #34,826
  • Feb 23, 2016 8:49am Feb 23, 2016 8:49am
I think i had been positng my views in the wrong thread , this seems to be the right thread for the gold. anyways i am still backing up my long position
Attached Image
  • #34,827
  • Feb 23, 2016 10:05am Feb 23, 2016 10:05am
its time for little retracement i beleive


Quoting gold-analyst
I think i had been positng my views in the wrong thread , this seems to be the right thread for the gold. anyways i am still backing up my long position {image}
  • #34,828
  • Feb 23, 2016 10:26am Feb 23, 2016 10:26am
Gold is at such an interesting level right now that anyone playing wisely can make money no matter it goes up or down
  • #34,829
  • Feb 23, 2016 10:29am Feb 23, 2016 10:29am
Quoting gold-analyst
Gold is at such an interesting level right now that anyone playing wisely can make money no matter it goes up or down
Please explain!
  • #34,830
  • Feb 23, 2016 10:32am Feb 23, 2016 10:32am
Sorry all, I was so tired last night I inadvertently gave a poor outlook on what I think gold is going to do. I was originally expecting more down side but the triangle out of a Wave 4 signals the end of retrace. My plan is to buy at 1205 area. I'm not interested in the limited amount of short left. The overall trend is long and that is where I feel safest.
  • #34,831
  • Feb 23, 2016 10:42am Feb 23, 2016 10:42am
Quoting swetrader
{quote} Please explain!
if i had option paste charts now , could have explained better. but what i meant is to hedge gold. if it breaches 1228-1229 it goes up, but as there is a resistance at the todays high level so it may retrace .

So i am hedging it and have short and long open, short has stop loss 1229
  • #34,832
  • Feb 23, 2016 10:43am Feb 23, 2016 10:43am
I have longs with target 1230 but I am starting to doubt it will reach that high, so I might close them now.
  • #34,833
  • Feb 23, 2016 10:51am Feb 23, 2016 10:51am
closed my short, so not hedgin any more



Quoting gold-analyst
{quote} if i had option paste charts now , could have explained better. but what i meant is to hedge gold. if it breaches 1228-1229 it goes up, but as there is a resistance at the todays high level so it may retrace . So i am hedging it and have short and long open, short has stop loss 1229
  • #34,834
  • Feb 23, 2016 10:53am Feb 23, 2016 10:53am
Quoting dianajs
I have longs with target 1230 but I am starting to doubt it will reach that high, so I might close them now.
It should get there eventually. I expect a new high in the next few days. But if you are able to close sooner rather than later, you might be better off, otherwise, you may be taking some heat as I expect another leg down to about 1203/1205 area.
  • #34,835
  • Feb 23, 2016 10:53am Feb 23, 2016 10:53am
Quoting dianajs
I have longs with target 1230 but I am starting to doubt it will reach that high, so I might close them now.
If you have doubts just exit, when you confident open the trades again.
  • #34,836
  • Feb 23, 2016 10:56am Feb 23, 2016 10:56am
Quoting gold-analyst
I think i had been positng my views in the wrong thread , this seems to be the right thread for the gold. anyways i am still backing up my long position {image}

this is when i entered long, so i find myself in safe position
Attached Image
  • #34,837
  • Feb 23, 2016 11:11am Feb 23, 2016 11:11am
If it stables above 1220 then its going up further, which i want and hoping too.
  • #34,838
  • Feb 23, 2016 11:15am Feb 23, 2016 11:15am
its upto you if you want to stay in or come out of yout position but if you decide to stay in with your longs, then why dont you change your profit level higher than 1230.

As your taking a risk here then why not to have better reward to risk ratio. i beleive if it goes higher then it will go much higher than your current target. but that are just my views

Quoting dianajs
I have longs with target 1230 but I am starting to doubt it will reach that high, so I might close them now.
  • #34,839
  • Feb 23, 2016 2:35pm Feb 23, 2016 2:35pm
I shorted at 1225 but will go long to 1260 if goes over 1230, in a channel currently
  • #34,840
  • Feb 24, 2016 12:04am Feb 24, 2016 12:04am
based on observation, XAUUSD is currently highly correlated with USDJPY. I believe gold direction will be determined by movement i usdjpy. Should usdjpy break 111, I think we gonna see gold rocket up
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