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

GBP, EUR back below yesterday"s DL.
I have no enemy; I make Incautiousness my Enemy.
Another example today of how Silver moves - down 2% while Gold is down 0.5%

So anyone who thinks Silver doesn't move, lately or otherwise, is not looking at percentages.
Quoting jimobiwan
GBP, EUR back below yesterday"s DL.
Yep, I made some money on that one yesterday. Going to be 300 pips in that sooner or later.
Be ready, guys. We will see a very nice GREEN period in GOLD very soon.

Don't say I didn't tell you.
Quoting MapleLeaf
Be ready, guys. We will see a very nice GREEN period in GOLD very soon.

Don't say I didn't tell you.
bsaed on what bro?
Quoting SunTrader
Another example today of how Silver moves - down 2% while Gold is down 0.5%

So anyone who thinks Silver doesn't move, lately or otherwise, is not looking at percentages.

I have been noting silver's moves for some time now, Silver has much more room to play with if we compare it to gold
what do you think of this view on Silver http://www.clivemaund.com/article.php?art_id=67
Quoting eugenyk
what do you think of this view on Silver http://www.clivemaund.com/article.php?art_id=67
Good article.

Read news, articles, charts, but make your own decisions.


Silver Year 1990 = $5
Silver Year 2000 = $5
Silver Today = $30 - $32 (6x)

Gold Year 1990 = $300
Gold Year 2000 = $300
Gold Today = $1650 (6x)

If Silver went to see 10x then gold could too, but then we may see Silver making a 15x

But don't forget the other side of the picture, paper (currency) may not be in a good shape but we still live our lives dealing in currency so...... at the end of the day we need cash for everything.
I don't understand the fixation - H & S work, and don't work, about as often as any other pattern.
Quoting jimobiwan
This is the first time i have seen an inside day 11APR followed by a large out-side-day-up 12APR then followed by a full retracement FRI 13th.

Does anyone have experience of this sequence of 3 day? whats instore for us next week?

Technically it can be considered as re-test of the 18DMA. It has closed above it on the 10th, 11th, 12, 13th.

All the major numbers are out. Looking for alot of knocking about next week rather than direction. Will be careful not to get sucked in to a fixed direction. Will be Scalping.
oops, forgot to attach the chart
Attached Image (click to enlarge)
Click to Enlarge Name: inside.jpg Size: 140 KB
I have no enemy; I make Incautiousness my Enemy.
Quoting jimobiwan
oops, forgot to attach the chart
Looks like original post message was dropped now, but is now in quote.

But 3 day pattern means, at best, uncertainty. Same as me uncertain why you use length of 18 with DMA?

Is it because it might currently line up with PA. You will only know, after the fact, when it is no longer valid.
Quoting SunTrader
Looks like original post message was dropped now, but is now in quote.

But 3 day pattern means, at best, uncertainty. Same as me uncertain why you use length of 18 with DMA?

Is it because it might currently line up with PA. You will only know, after the fact, when it is no longer valid.
i deleted the original because i forgot the chart.

18dma relates to Futures contracts. There are on av 18 trading days for front month contracts. 18dma also relate closely to the mid point of Bollinger Bands on the spot mkt i find. Here are the dates for gold

Gold, Silver, Copper, Palladium, Platinum
Jan12-30 1-27
Feb 1-31 2-27
Mar2-29 3-28
Apr3-30 4-26
May4-30 5-29
I have no enemy; I make Incautiousness my Enemy.
Quoting jimobiwan
.....
18dma relates to Futures contracts. There are on av 18 trading days for front month contracts.
How do you figure that?

Are you saying divide total trading days by how many months it is the front month.
Friday was profit takin, position squaring and some news for the USD.

Gold got hammered back down, yet only to the upward tl we have now on the
H4.

Risk currencies sold off as well. Expect continuation next week north.

just a bump in the road and another entry for those that didn't get it before.

this is why you never should chase the market.
GOLD & SILVER - Learning, Day Trade, Long Term, Discussion, Fundies, Techs
Even though I dont trade the signal a death cross is about to form in the GLD, to me its in no mans land. The levels am watching are R=165.00 S= 157.00. To those who dont know what a death cross is, it occurs when a long term moving average (200 SMA) crosses above the short term moving average (50 SMA) on the daily time frame.
Attached Image
It's warmer in the crowd
Quoting split_unit
Even though I dont trade the signal a death cross is about to form in the GLD, to me its in no mans land. The levels am watching are R=165.00 S= 157.00. To those who dont know what a death cross is, it occurs when a long term moving average (200 SMA) crosses above the short term moving average (50 SMA) on the daily time frame.
Hi split_unit,

Am I correct to say that for the price to go further north, it must overcome the 200 SMA (an obstacle and tough nut to cracK)? Failure to do so imply further downside?


breeze
"You will rise by lifting others." - Robert G. Ingersoll (1833-1899)
Gold Silver
Quoting fxbreeze
Hi split_unit,

Am I correct to say that for the price to go further north, it must overcome the 200 SMA (an obstacle and tough nut to cracK)? Failure to do so imply further downside?


breeze
You are correct to say that. The daily 200 SMA is a significant block to the upside, if its cleared the move to the upside should continue. The importance of the 200 SMA is mainly due to the attention big traders and quantitative algorithm models give it. That along with the fact that everyone is watching makes it self-enforcing.
It's warmer in the crowd
Quoting SunTrader
How do you figure that?

Are you saying divide total trading days by how many months it is the front month.
Front Month term maybe misleading.

Eg APR Gold contracts expire on 26APR. In the month of April, that gives 18 days trading.

20DMA is used alot by traders. a Spot month has 20 trading days on average.

So it has to do with number of tradable days within the month of its name, ie APR Gold, just count April days.
I have no enemy; I make Incautiousness my Enemy.
  • Post# 18,579
  • Quote
  • Apr 15, 2012 9:35am | Edited at 8:40pm – missing a couple of words for clarity
Quoting jimobiwan
Front Month term maybe misleading.

Eg APR Gold contracts expire on 26APR. In the month of April, that gives 18 days trading.

20DMA is used alot by traders. a Spot month has 20 trading days on average.

So it has to do with number of tradable days within the month of its name, ie APR Gold, just count April days.
Ya lost me.

June is the front month right now which is key. I know you are not saying that April is but why even focus on it then?

Vol on Fri

April 220
May 473
June 127900

I'm trying to understand but I've heard reasons why this and that length of MA of whatever variety of used, other than the self-reinforcing argument that is given by most, that a randomly generated line would do as well.

But I'm not trying to give you a hard time if it works, just like to understand why you feel it does.
Tonight Euro on the move down to near multi-month support draging Gold with it.
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