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

  • #2,621
  • Jan 21, 2011 12:40pm Jan 21, 2011 12:40pm
Quoting beeb
I doubt very much gold will get that low. There is apparently immense buying interest in the physical and the shorts are having to expend an enormous amount of ammo to bring the paper price down.

Beeb
I doubt it too, but we never know, it would not surprise me if it was going to happen
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #2,622
  • Jan 21, 2011 12:43pm Jan 21, 2011 12:43pm
Quoting beeb
I doubt very much gold will get that low. There is apparently immense buying interest in the physical and the shorts are having to expend an enormous amount of ammo to bring the paper price down.

From a technical point of view on the Daily chart things are looking oversold. It's important to note that they haven't turned up yet and that there is significant technical resistance above to be overcome. I would suggest having a look at the levels of the RSI and MACD and particularly at the Stochastics. The quicker 14,3,3 Stochastics are already into...
Lots of room to move down on the Weekly even if the Daily looks oversold.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #2,623
  • Jan 21, 2011 1:18pm Jan 21, 2011 1:18pm
If you trade the weekly then you probably shouldn't be bothering about a 6% decline form the top lol.........

Seriously though have a look at the weekly RSI - draw a line from the Aug 2008 lows and you will see that the weekly RSI is now at the line of support....

beeb

PS good to have a bit more technical discussion here rather than unsupported opinion
  • #2,624
  • Jan 21, 2011 10:45pm Jan 21, 2011 10:45pm
It is good seeing Gold's price going down, it made a confirmation that they're going to fly high this year..

If the yearly gold average price is assummed in 1400 USD/troy ounce (Morgan Stanley - Bloomberg), the price should go up >1400 USD/troy ounce,

the deeper it goes down, the higher the price should go up,
or we should re-assuming the yearly gold average price.

The gold hunting has just begun.. esp gold physically
Happy hunting..
  • #2,625
  • Jan 21, 2011 11:39pm Jan 21, 2011 11:39pm
Quoting beeb
If you trade the weekly then you probably shouldn't be bothering about a 6% decline form the top lol.........

Seriously though have a look at the weekly RSI - draw a line from the Aug 2008 lows and you will see that the weekly RSI is now at the line of support....

beeb

PS good to have a bit more technical discussion here rather than unsupported opinion
Can you post a chart with your RSI line? I don't really use indicators too much and when I do use MACD it is only to find divergence mostly.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #2,626
  • Jan 22, 2011 12:18am Jan 22, 2011 12:18am
It would be nice if i get some opinion on what i write below as i am a newbie on silver and don't like gold trading.

http://my.jetscreenshot.com/4962/m_2...-houv-91kb.jpg

I am planning to buy silver from these points i mentioned in the chart. And also will do a last buy if ever price goes to 7 area.

I would not use any SL but neither of my trades will close also.

I want others opinion on this.
  • #2,627
  • Jan 22, 2011 1:21am Jan 22, 2011 1:21am
Quoting lilpip
e/u may give us a clue looking @ daily chart, watching how 1.3563 responds.
e/u monthly
1.4201
1.3544
1.2880
both are at pivot areas for month, partials taken from monthly lows and highs, looking for direction.
eyes open.
May i ask how is EURUSD corelated to Gold?
  • #2,628
  • Jan 22, 2011 1:35am Jan 22, 2011 1:35am
Quoting darksorrow
It would be nice if i get some opinion on what i write below as i am a newbie on silver and don't like gold trading.
fist off you should start here :

http://www.babypips.com/school/fibon...tracement.html

and draw that fibo correctly

I'll start buying low @ 25 and get more agressive all the way down, but we'll never know what happens
Never whishing, always trading.
  • #2,629
  • Edited 2:57am Jan 22, 2011 2:40am | Edited 2:57am
ı must be a nut.still have reasons to stay bul
bullish divergence, descending wedge, possible wolfwave
ww.png

this is crazy dollar and gold both down
crazy.png

weekly
weekly.png

yess monthly is very bearish. bearish engulfing and overbought
monthly.png

thats why overbought ı guess
9cf9c_Gold-Silver-Bailout-Country.jpg

"anything happens, anything happens.." (chekhov- my life)
so money manegement is a must....
good luck for all
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Attached Images
  • #2,630
  • Jan 22, 2011 2:46am Jan 22, 2011 2:46am
Gold and silver trade similarly. The fundamentals are different, somewhat, due to silver's appeal as a more industrial metal and gold as investment, bla bla.

But why do you not like to trade gold? Just wondering.

Usually, the swings in gold are bigger and produce more $$$ if timed right.

Quoting darksorrow
It would be nice if i get some opinion on what i write below as i am a newbie on silver and don't like gold trading.


I am planning to buy silver from these points i mentioned in the chart. And also will do a last buy if ever price goes to 7 area.

I would not use any SL but neither of my trades will close also.

I want others opinion on this.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,631
  • Jan 22, 2011 2:49am Jan 22, 2011 2:49am
I am still bullish Gold. The price may corrrect a bit before the next surge.

Yet, there would need to be extreme sustained chart damage and major sentiment in the USD and EUR shift to derail the underlying bull run.

BTW:

1250 - the chart is old. support at 1300. longer term outlook weekly

edit: the bottom of the channel would actually be about 1275 with more time 1300

Quoting riko2705
ı must be a nut.still have reasons to stay bul
Attached Image (click to enlarge)
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,632
  • Jan 22, 2011 3:02am Jan 22, 2011 3:02am
If we enter a minor corrective phase or not I am looking for 1550 /1600
by 2011
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,633
  • Jan 22, 2011 3:07am Jan 22, 2011 3:07am
This was a nice Friday. no news

Flattened all with about 90 pips.

X-cept I left Aussie on. The weekend roll is nice and I am looking for a Gap up if some news about "china's growth" which seems to have de-railed this weeks aussie train, changes....

We'll see. One minute they are slowing the next the aren't, it's all market manipulating BS.

edit: If Gold finds a bottom here appx 1340 / 1300 I am going to start buying

Quoting XTrade
euro seems to have caught fire..

Still long from last night

AUD -- (long) may dump this -- not sure looking for retracement yet seems weak
EUR -- holding (long)

Cable -- holding (Long) - looking to crack 6000 open wide and catch another 50 pips
USD/CHF - holding (short )- looking for 9550

Gold - Flat - May get Long - stopped out last night at loss.

silver flat.

it is friday though.... so new positions if are not my favorite idea.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,634
  • Jan 22, 2011 3:25am Jan 22, 2011 3:25am
Look at this chart of import / export of silver by china

http://www.goldcore.com/images/mu/go...2_21-01-11.PNG

http://www.goldcore.com/goldcore_blo...-just-one-year
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,635
  • Jan 22, 2011 3:57am Jan 22, 2011 3:57am
here is one long term count in my opinion
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  • #2,636
  • Jan 22, 2011 6:06am Jan 22, 2011 6:06am
As requested Weekly Spot Gold with rising RSI support line......

Good Weekend

Beeb
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  • #2,637
  • Jan 22, 2011 6:22am Jan 22, 2011 6:22am
Quoting Hova
fist off you should start here :

http://www.babypips.com/school/fibon...tracement.html

and draw that fibo correctly

I'll start buying low @ 25 and get more agressive all the way down, but we'll never know what happens
LoL I am not a fibo trader. I draw that because i wanted to get some entry points.

And according to my drawing 25 is the 61% retracement area.
  • #2,638
  • Jan 22, 2011 6:25am Jan 22, 2011 6:25am
Quoting XTrade
Gold and silver trade similarly. The fundamentals are different, somewhat, due to silver's appeal as a more industrial metal and gold as investment, bla bla.

But why do you not like to trade gold? Just wondering.

Usually, the swings in gold are bigger and produce more $$$ if timed right.
Well the reason i don't trade gold is it costs a lot. And the method i am using for silver i would not loose a trade but in gold there is a good chance for loosing.
  • #2,639
  • Jan 22, 2011 11:30am Jan 22, 2011 11:30am
Quoting darksorrow
It would be nice if i get some opinion on what i write below as i am a newbie on silver and don't like gold trading.

http://my.jetscreenshot.com/4962/m_2...-houv-91kb.jpg

I am planning to buy silver from these points i mentioned in the chart. And also will do a last buy if ever price goes to 7 area.

I would not use any SL but neither of my trades will close also.

I want others opinion on this.

hi dude.silver is already down by 4$ from its maximum level and your buying levels are way too down. Don't be greedy.Best time to buy silver is right now. Price would never go down to 22 level unless there is a financial crises like 2008.By the way my personnel advice to you is you should trade on demo account.you need to learn a lot before making fortune in this business.good luck
OPPORTUNITY LIES WHERE THE MAJORITY IS AFRAID TO GO....
  • #2,640
  • Jan 22, 2011 7:36pm Jan 22, 2011 7:36pm
GOOD FOR YOU.


I got started trading physical silver when my Grandfather (Bless him) passed away and I found a stash of Peace Dollars. Pic below.

Coincidentally, a friend came to me with some Pre 1933 US Gold Coins (pic Below) and asked for help selling them due to my enthusiasm about how easy it is to own REAL PHYSICAL GOLD AND SILVER!

Call it right place right time, but I saw appx 20 USD silver goto Seven and 1000 USD (appx) Gold go to 700.

THAT WAS THE SIGNAL TO BUY IN. After following a daily chart for a year I was ready. Yet TRADING is a whole different beast. The sword of double edge here is that all physical buyers are traders, just on a long long LONGer term chart.

Platinum even dipped below Gold at one point --- I believe it was about 800 down from 2200 and gold was 850... LOL. Platinum double. Silver will never go back to 7 that is a pipe dream....

Quoting rastogiroh
ya i am a jeweler by profession and trade gold in delivery in small quantity

started Technical analysis in free time
lot of learning to do
Peace Dollar - almost 1 oz of silver -http://t0.gstatic.com/images?q=tbn:A...d_GGeWLC0cyY7g
Pre 1933 US 2.5 Yes, this coin which retails ungraded at 350 USD was worth 2 buck and 50 cents at one time.... Its about the size of a US DIME
https://store.nwtmint.com/images/pro...2410__orig.jpg
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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