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

just some sidelines info


I can see that Traders at Oanda espect it to spike till 1450
and what I find a bit freakish is that sell orders at area 1375 almost three times exceed buy orders.

Another 200+ pip walkdown on silver just like last month...start getting used to these days. Don't think it will end @ 28.51. Will probably happen again @ 32-33 range.

Silver is trying to follow gold with the amount of pips. i think this is the reason why it is increasing and decreasing so fast.

It's great to see silver trading the way it is. It will be 50 before you know it.

In 2008 mid it took silver about 1.5 years to double.
The Price of Silver (POS) has doubled in the past 3 months from appx 18 to appx 31...

GOLD is looking like it may be in for a $50 usd correction.

If this continues we will see 1375 before london. then watch out.

there may be some support in the 1389 zone as you have noted. Otherwise look at 1385 more likely first if that fails in the immediate
1380 for potential support.

All these levels are brand new so it's hard to tell where and which will be true support.

IMO we are oversold.

other than the mere fact of being a tad sold, who can give me one reason why
the shitty USD should reverse ANY one trend in any currency or PM right now.

Gold is nearing bottom of current hour 4 channel

Thanks for sharing the template.
I'm a new baby. I hope you can explain how to use it.
You said it's used in 1 minute. Really? Just suitable to trade with spot silver?
I tend to trade with 1H or 4H.
It seems that your TPL can not work well in 4H or even longer frame.
Are the MA lines telling us the trend in the longer period?

Looking forward to and Thanks for you answer.:

i have bought silver @ yesterday's day's high... now its falling...
should i exit?? or hold ?
my view is 1-2 week.

I say: change your wiev, hold for longer, or close and go buy physical silver instead, while there is still some around.

Well the thick red is oversold/overbought, the lines on the double RSI indie show the same but in RSI terms, two different speeds, 5 and 14 minute data crunch. I use that tpl to look at whats happening, i dont trade silver on M1, thats useless to me, i just want to see whats happening to the price. The thick red lines, are tuned to M1 conditions, so if you set it to H4, price will be outside of them pretty much all the time and tell you nothing.

The MA lines are physical support and resistance, price needs momentum to go through them/ are slowed down because of them. I havent been able to figure out if those S/R are natural occuring phenomena of the human psyche or if they are things that people use and know that they are using, or both. Generally the thicker the line, the tougher the support. But as you can see, price goes through em all the time, and it has to, its just that it slows down somewhat, thats why i have them there. They are like physical objects in our threedimensional intepretation of reality, we can affect them but they affect us, especially when we run into them, sometimes they break, sometimes they dont.

Anyway people, buy physical silver and gold, dont buy the spot stuff. Im serious, if you buy spot you need to call your broker and demand physical delivery. Chances are good you arent trading silver that exists otherwise. If the shit hits the fan and dollar goes BOOM you arent going to ever see that silver. Big hedge funds knows this, they are demanding delivery, they are fighting megabanks this way. JP Morgan has been pushing silver down for 50 years, just google "Crash JP Morgan buy silver", Keiser and a hwole lot of other people is doing this. Keiser aims for 500$ silver/ounce, thats a little steep i think, but 100$ sure is within reach. Gold is also being manipulated, thats going to go up as well when the full force of US, Spain and portugal credit crunch gets unearthed. But hey guys, need to tell you, when people start knowing how much dollars is in derivates, thats when the shit is really going to hit the fan. Just my two cents.

Also check out Gerald Celente, this guy has his feelers out.

looks like support is in here at 1389 area.

gold I see under controll for next bull above 1382+ , long prefere ..
fontu

I hope someone is adding longs on those dips... but not big ones!

Hello all.

Something to think about when looking at silver PA.


"Silver acts as a cheaper alternative as a hedge against the current inflation-sensitive environment, and arguably remains undervalued," broker MKS said.

Notice the nice swings in price in silver lately. Not to mention the price nearly doubling in the past 4 months!!!

Now that even upgrades the idea of "trading physical" even if you bought @ 20 and sold at 27 taking a $1 loss below spot on resale - on a 100 ozs that is a clean "tax free" $700 profit to re-use on your next flip.

And guess what? You don't want to sell? well now you have a tangible hard asset of value, likely to remain increasing value.

Looks like a run at further correction was JUST rejected on spot XAU.

Buyers coming back. Still long.

I am getting long silver.

Interesting. I just started writing something here about silver, but then I gave up. The thing is: it seems that the current correction was triggered by the 30-years-high on silver. Since both commodities are correlated...

I have the feeling that the current fight is not over the $1400 level on gold, but over the $29-30 level on silver. When silver breaks out, gold goes along.

My 2 cents.

Short closed @ 1374
awaiting retrace before re-entering shorts

D1:

gold accelerated through the 18dma and now is back at the 18. back to neutral. should bounce here. If it can close above 18dma then staying long. Entered long @1375 (based on $25 platform below round number of 1400).

Expect consolidation at these levels supported by 23.6%fib @1369 and 45dma @1367.

Hi all,

the current rise in Gold seems to me more of a speculative rise waiting to bust, does anyone has insight on this subject?