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

  • #2,221
  • Dec 3, 2010 7:20am Dec 3, 2010 7:20am
Gold is shining the brightest so far today adding $20
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,222
  • Dec 3, 2010 9:17am Dec 3, 2010 9:17am
I'm out. Great day today. Going to wait for a dip and likely buy back.

Watching to see how the Euro and GBP hold up next week.

Hope everyone did ok with this nice $22 move up!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,223
  • Dec 3, 2010 9:30am Dec 3, 2010 9:30am
Looks like the USD may be in for renewed diving!

Swissy is down 300 pips from past couple sessions...

Next week should be interesting...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,224
  • Edited 7:47pm Dec 3, 2010 9:34am | Edited 7:47pm
Just for amusement. If you pull a fibo from Yesterday's selloff say 1398 to 1382.50 area -
You will see that today's highs around 1408 are the 161.8 fibo expansion level. This is how I got my last exit. Entries from Asia around 1385
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,225
  • Dec 3, 2010 10:04am Dec 3, 2010 10:04am
Got Barrick Gold reaching all time high today (breaking early 2008 all time high), so mining stocks are following the path of the bullion.

Oil coming back to the 90 level, just above 89 right now. Print print print my friend...
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #2,226
  • Dec 3, 2010 11:53am Dec 3, 2010 11:53am
Quoting XTrade
I discussing it with someone and tHe volume does not support the H&S pattern.

GOld LOOKING to take 1370 whooo.
looks like you and your friend got it spot on nice trading friend havent gone through the post's to see your explanation on the vol point but if you have a min to post it wouldn't mind looking

all the best
  • #2,227
  • Dec 3, 2010 12:46pm Dec 3, 2010 12:46pm
The volume in a true head and shoulders is supposed to be @ specific levels during the LS, Head and RS.

Volume in the H&S plays larger roll than so in other chart patterns.

The volume on spot Gold and futures are not supportive of the HS. Also with todays rise the pattern is completely invalid.

If you like I will post the specifications.

Quoting cohiba pips
looks like you and your friend got it spot on nice trading friend havent gone through the post's to see your explanation on the vol point but if you have a min to post it wouldn't mind looking

all the best
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,228
  • Dec 3, 2010 12:49pm Dec 3, 2010 12:49pm
I know Oil is cooking!

This move hasn't given back anything today either (Gold).

We are looking good for a new high before the year ends. I'd say we may not much end of year profit taking either it seems most of this has been done already and new positions put on.

Too bad I closed... Can't complain though, had a phenomenal day, averaging 2000 pips per lot/

Quoting Bootleger
Got Barrick Gold reaching all time high today (breaking early 2008 all time high), so mining stocks are following the path of the bullion.

Oil coming back to the 90 level, just above 89 right now. Print print print my friend...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,229
  • Dec 3, 2010 1:03pm Dec 3, 2010 1:03pm
WOW !!!

7 USD end of day breakout!

http://www.kitco.com/images/live/nygold.gif
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,230
  • Dec 3, 2010 1:16pm Dec 3, 2010 1:16pm
jeez, feeln kinda sad that I closed my longs at gold too early. That thing is really bullish

have to wait now
  • #2,231
  • Dec 3, 2010 5:07pm Dec 3, 2010 5:07pm
Quoting XTrade
WOW !!!

7 USD end of day breakout!

http://www.kitco.com/images/live/nygold.gif
Oh yes bulls were in until the end... We're now talking about QE3 or QE2 upgraded. Bernanke to announce he's gonna buy more than 600 billions.

USD index back below 80. Closed at 79.15 while we were above 81 this week. USD going down the drain quickly
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #2,232
  • Dec 3, 2010 7:42pm Dec 3, 2010 7:42pm
Jobs disappointing for US. What A surprise!
I 'm waiting for a better chance to trade.
Gold will go up to 1430 next week.
Will it go down around 145X?
Hope so. It'll be a good chance for the traders to buy.
Many traders are waiting for 1500,1517 now.
Just follow the market.
Wait and see.
  • #2,233
  • Dec 3, 2010 7:43pm Dec 3, 2010 7:43pm
OK We can start with this chart for analysis.

I'm going to see if I can get a daily version.

But for now I'm just pasting it up so it's here in the thread.

http://futures.tradingcharts.com/charts/GDW.GIF

http://futures.tradingcharts.com/charts/GDW.GIF


Quoting cohiba pips
looks like you and your friend got it spot on nice trading friend havent gone through the post's to see your explanation on the vol point but if you have a min to post it wouldn't mind looking

all the best
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,234
  • Edited 8:00pm Dec 3, 2010 7:45pm | Edited 8:00pm
Yeah! not too surprising!

You mean up here right? I'd say at this point the old high is TOAST.
we almost hit it today in the last five minutes of trade! I am looking to 1500 in the near future certainly.

CAN anyone SEE the CHART in the post above? ^^^^ it doesn't seem to be "posting."


Quoting xiaoxin
Jobs disappointing for US. What A surprise!
I 'm waiting for a better chance to trade.
Gold will go up to 1430 next week.
Will it go down around 145X?
Hope so. It'll be a good chance for the traders to buy.
Many traders are waiting for 1500,1517 now.
Just follow the market.
Wait and see.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,235
  • Dec 3, 2010 8:01pm Dec 3, 2010 8:01pm
"You mean up here right? I'd say at this point the old high is TOAST.
we almost hit it today in the last five minutes of trade! I am looking to 1500 in the near future certainly.

CAN YOU SEE MY CHART in the post above? it doesn't seem to be "posting.""

Hi XTrade, we cant see the chart..not up yet
  • #2,236
  • Edited 8:22pm Dec 3, 2010 8:17pm | Edited 8:22pm
Quote ratman:
"jeez, feeln kinda sad that I closed my longs at gold too early. That thing is really bullish"


If we believe Gold is gonna rise in d middle to long term, why not always
hold some buying positions?
Treat it like half Investments half trading

Short term we can sculpt, long or short gold.
Long term we buy

I'm learning to practice this..still learning, still improving myself
  • #2,237
  • Dec 3, 2010 8:18pm Dec 3, 2010 8:18pm
OK - thanks Les, I will try to fix the issue. Not sure what is going on here...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,238
  • Edited 9:13pm Dec 3, 2010 9:03pm | Edited 9:13pm
These are great points. Funny, was thinking about the same principles earlier.

Buying the physical metal is one way of this trade, the only problem is the lack of being able to use leverage. However, once the metal is yours, you don't have to worry about being stopped out.

What I was thinking is on a nice dip, look for major support, and add a small lot. With risk, assessed according to available margin/account size.
Longer term trades will require a larger stop usually (but not Always)
The smaller entry will afford you more room for correction while keeping usable margin relatively high. Then, if your target is say a $100 usd move, well, that will be a 10,000 pip trade!!! A mini lot or even five micros if available will work for smaller accounts.

edit: we never stop learning in this market, if it's not one thing it's another. There are so many more factors affecting the price of Gold these days than simply a weak USD.



Quoting Les Lau
Quote ratman:
"jeez, feeln kinda sad that I closed my longs at gold too early. That thing is really bullish"


If we believe Gold is gonna rise in d middle to long term, why not always
hold some buying positions?
Treat it like half Investments half trading

Short term we can sculpt, long or short gold.
Long term we buy

I'm learning to practice this..still learning, still improving myself
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,239
  • Dec 3, 2010 11:33pm Dec 3, 2010 11:33pm
This is HYSTERICAL!!! AND informative. Some is true - some may be a bit off.


I have no affiliation with the makers or any website possibly mentioned.







Inserted Video
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,240
  • Dec 3, 2010 11:45pm Dec 3, 2010 11:45pm
Quoting XTrade

Jobs disappointing for US. What A surprise!

Gold rockets! Euro UP - GBP UP - AUD - UP
Hi Xtrade..i wanted to know the trend changing or atleast substantial price mover news to be looked upon while trading gold.

U know what i mean like market is just waiting for that news item to decide further commitment. And how often it comes like weekly, fortnightly and monthly.

Thanx in advance and by the way where r u located
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