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

Did a small sell at 1218.10 and took that for a small scalp before taking an early night.

Waking up today again reminds me to always set a SL. Who could have seen this thing about Germany happening?

Bought back lower, (1208 again)

we have broken on downtrend line..
I hope to get a chart up tonight.

Been in a bit of a correction. Looking to get out..

No shortage of decline of GBP and EUR today...

xtrade

do you see gold breaking 1200 tonite or is it just consolidation for it to go up and make a new high.

speaking in long terms (ie not momentary scalps) i look at the 18dma as the borderline - above that, I look to set long, below, look to sell.

look at a long term daily chart and see the pa on the 18dma. some people like to use 20dma. 18 gives me a head start.


for temp scalps, it doesnt really matter what my view is of the mkt direction - in fact i am normally completely wrong anyway - i trade what i see.

May i share these words from ancient times with you regarding which way the market is going (S:http://www.warriorcrafts.com/the_samurai_creed.html)


I have no money-management laws;
I make self - protection my money-management laws.

I have no strategy;
I make "trade what i see" my strategy.

I have no plans;
I make "taking opportunity by the forelock" my plans.

I have no principles;
I make "adaptablility to all circumstances" my principles.

I have no talent;
I make "ready wit" my talent.

The market is not my enemy;
I make incautiousness my enemy

Cool Post Jim,

I have not been trading much the last few days, I have some broker issues in resolution ATM. Missed some of this fabulous short from 1249.

No big deal, and a necessary correction, we cannot go higher without this.

As a matter of fact this is exactly the move I was looking for to purchase some
physical gold. Nothing major, just a small bar and a Numismatic coin (Pre 1933) <these are not for resale - more of a "deposit" if you will>
gold.. Look it up if you are interested. (Quarter Eagle - Indian Head- Pre -1933 date 1912 - This is from the time when Gold was still coined and used as money!) In fact this 2.5 $ denominated coin is worth over $300 today.

thus, it seems things are on the up and up with my situation and I am testing out a small long here.

I feel this Euro burst is short lived and soon we "should be" in the 1.1s...
We'll see in @ 1188.70 stop below 1181 tp 1 1198

Range again,
lately the London Open is not worth trading, too much headache for too much back and forth.
Yes decisions are made but.... Think I will switch my time back to London Close >NY open > NY Close maybe a bit of Aussie and Japan here and there.

All we do is range with a huge headfake on the open. "Lately" that is.

Markets are VERY uncertain especially after the Germany release,

A Huge amount of risk has been taken off the table and many of the moves we have seen in the past day or 2 are simply irrational.

I will be looking to LOCK and LOAD, when things get back to normal.

I will leave my trade on and see if it gets stopped out.

Otherwise it is break time for a day or 2. Hate to do it. But not willing to lose money. Which is what will happen with said uncertainty.

I am still bullish gold and have welcomed the correction. Keep in mind we are
still in the 1200 area.

Let's see what happens.

Also, I am changing my market hours for trading
from - (10pm to /10 am) give or take an hour for trade taking
to appx 6 AM to 1 pm with monitoring until 5 pm.

Watching spot always. 24/7
x

Still looking for GOLD to go a lot lower.

To the Indian Gold Traders,
Are you guys not loving this pullback for physical?!!

STEROIDMAN!!! Hows the SHORT!
edit: thinking of adding to my Cable and Euro shorts... With a gold short, But this is not the correlation as of late....
BUT, I am still bullish and looking to load up on the next uptick..

Perhaps, Gold will track back on to an Inverse USD relation,,,
We will soon find out my friends.

Adding scalp, long
1185 We'll see- Might get stopped out But stop below 1180.

Only shooting for about 150 to 300 pips.

The short trade from 12xx is still favorable as of yet.... Let's see how this pans out.

au hit my '75 mark ( i mentioned au seems to move in $25 increments) and bounced. i longed at 1177 and took it at 1191 (55ema on 60m)

waiting now. V Volatile. Will wait for a bit

Agreed, a necessary and healthy correction in gold at the moment. Am waiting for a continuation of the uptrend to continue trading....a week to a month more perhaps.

Equities are done for IMO, especially after the -1000 point day in the dow. The aussie dollar seems to be correlating quite well with the dow atm...so....trying to decide if XAU/AUD or XAU/EUR is a better long

a month would be fine for me - i'm soon off on holiday.

this sell off looks alot like 2008 - see the fractals in AUD/USD.

Hello All,
Light trading to start off the week.

One thing that is certain in market sentiment (equities / FX / Precious Metals)
seems to maintain and that is uncertainty...

Testing a long here around 1183.

what's target

Looking for at least above 1190 / 1200

And the euro to kiss that 500 pip move goodbye by the end of the week.

Scalping with the option to hold as of yet.

If I take part off as a scalp it will be around minor 1190 resistance.

Here is what we are dealing with so far..

I expect some selling, yet looking above 1190 in the immediate.

Talk of massive physical Indian Buying...

Thinking about getting long AUD/USD

Commods coming off, Euro weak... Lets see how this day goes.