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

  • #4,261
  • Apr 6, 2011 4:06am Apr 6, 2011 4:06am
I don't know how that has been worked out as the fund is at record valuations.....

http://www.spdrgoldshares.com/sites/...rical_archive/

check the historical archive for the past few years

also sprott and cef have recently announced new share issues....

beeb

not that i would invest in any of them btw - i like the feel of the real thing lol
  • #4,262
  • Apr 6, 2011 5:06am Apr 6, 2011 5:06am
Quoting beeb
You're doing very well six gun lol.....

Good moves on gold and silver today maybe establishing new trading ranges. They both broke resistance more easily than I thought they would and in retrospect I took trading money off the table too early. But money in the bank is the name of the game.

Let's see how things go in the next few hours.....

beeb
Price went storming through $38.00. The pause came underneath so it had caught its breath. I guess $40.00 will be the next real hurdle. This is one of my big round numbers.

I read a research paper this week on BRN's. It looked at many millions of trades and basically stated stops were around the BRN's, in fact 1 pip either side. Suggested people didn't put their stops at this level. Price often pokes its head through a BRN, triggers the stops only to retrace.
  • #4,263
  • Apr 6, 2011 5:32am Apr 6, 2011 5:32am
Quoting harvest3r
Silver is very close to $40. When we reach something like 39.80 or 39.90, the profit-taking could already start. If there is any surprising news, the speculators can use it as a disguise to perform a very, very big profit-taking - and the TV channels will blame the "surprising news" for the "huge sell-off"
I understand what you are saying. The media and pundits will look for a reason why something happened. Not sure the speculators need to give any reason why they sell something off.

$40 is a very big round number. There will naturally be lots of stops around there. If anyone were holding a big profit and many will after the recent heady rises they will be looking to bank this, knowing full well the guy sitting next to them is thinking the same thing.
  • #4,264
  • Apr 6, 2011 5:54am Apr 6, 2011 5:54am
Quoting harvest3r
Higher interest rates are a strategy to remove liquidity from the market - less money circulating, less inflation. Prices will rise less quickly, or even fall.

The only thing is that XAU and XAG are quoted in USD. I'm not quite sure if rate hikes in Europe and everywhere else will affect the precious metals directly (I guess so, but it's just a guess). Besides that, the coming hikes are already priced in; unless a big Central Bank surprises the market with higher hikes than expected, we may not see any big impact right now.

When we talk about...
I agree $40 is going to be the easiest short of the year.
  • #4,265
  • Apr 6, 2011 8:02am Apr 6, 2011 8:02am
Morning
How are the "shorts" doing in here?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,266
  • Apr 6, 2011 8:06am Apr 6, 2011 8:06am
Quoting XTrade
Morning
How are the "shorts" doing in here?
Normally I'd say that's totally uncalled for.......but I won't lol...



beeb
  • #4,267
  • Edited 8:18am Apr 6, 2011 8:06am | Edited 8:18am
Quoting Euroscum
I agree $40 is going to be the easiest short of the year.
hi euroscum,
is it time for your red candles or would it go higher?
Attached Image
  • #4,268
  • Apr 6, 2011 8:19am Apr 6, 2011 8:19am
Quoting XTrade
Morning
How are the "shorts" doing in here?

good morning xtrade got comment?
  • #4,269
  • Apr 6, 2011 8:24am Apr 6, 2011 8:24am
I doubt how much gold these ETFs actually "hold" in their vaults anyway.

A while back there was a report released about the population having bars come up with the same serial number 2 to 3 times. Not sure if anyone remembers that.


Quoting beeb
I don't know how that has been worked out as the fund is at record valuations.....

http://www.spdrgoldshares.com/sites/...rical_archive/

check the historical archive for the past few years

also sprott and cef have recently announced new share issues....

beeb

not that i would invest in any of them btw - i like the feel of the real thing lol
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,270
  • Apr 6, 2011 8:26am Apr 6, 2011 8:26am
GC 1min - in a little wedge at the mom....

http://www.screencast.com/t/djj5lJb6b

beeb
  • #4,271
  • Apr 6, 2011 8:26am Apr 6, 2011 8:26am
Quoting XTrade
Morning
How are the "shorts" doing in here?
USDCHF shorts is ok
Correction =50%


Will it return to it today's low???

What about gold?
I think day will close lower than 1463 but possible shot to 70....
  • #4,272
  • Apr 6, 2011 8:33am Apr 6, 2011 8:33am
Quoting riko2705
hi euroscum,
is it time for your red candles or would it go higher?
Euroscum waiting for the short....
Attached Image
  • #4,273
  • Edited 8:40am Apr 6, 2011 8:39am | Edited 8:40am
For intraday not much market moving news on the board. Besides the dollar sinking against majors. See correlation chart at bottom =back to strong inverse DXY correlation with XAU.

USD/CAD broken support showing fresh lows
AUD/USD Employment data tonight.

Small supports and resistances to trade
as of now it looks about a 10 dollar range

1451 / 1461 with a bias to the upside.

ANOTHER REASON against counter trend scalping:
The trend is up. If you are scalping, you are in the market with likely a lot of trades every day. If we are trending up the market is most likely to BREAKOUT north. Thus adding to the potential of your winning trades for that day.

No one wins every day scalping. Why not increase your chances.

Quoting riko2705
good morning xtrade got comment?
Attached Image (click to enlarge)
Click to Enlarge Name: xau_dxy_corr_4_2011.GIF Size: 44 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,274
  • Apr 6, 2011 8:44am Apr 6, 2011 8:44am
Yes it is. You like that nice 130 pip fallout last night.
9200 may be rejected which is now - give or take 20 pips.

If it makes it back to 9250 which I am doubting I would short around there if the PA is showing entry.


Quoting fawaol
USDCHF shorts is ok
Correction =50%


Will it return to it today's low???

What about gold?
I think day will close lower than 1463 but possible shot to 70....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,275
  • Apr 6, 2011 8:52am Apr 6, 2011 8:52am
Quoting XTrade
Small supports and resistances to trade
as of now it looks about a 10 dollar range

1451 / 1461 with a bias to the upside.
Correct. XAG is pressing into $40, XAU has to follow somehow.

For the remaining text... one German TV channel is calling for a "Tolerance Day" next Friday. I think it should be extended to this forum

Ops, resistance is broken, it seems!
"The reason I was born and came into the world is to testify to the truth."
  • #4,276
  • Apr 6, 2011 8:59am Apr 6, 2011 8:59am
Quoting harvest3r

Ops, resistance is broken, it seems!
it might be OR they might want you to think it is, before selling off.....
1min fork: http://www.screencast.com/t/T5RoNKfcqNk

lol

beeb
  • #4,277
  • Apr 6, 2011 9:11am Apr 6, 2011 9:11am
Yes. Forgot about that! Quite nice -
--------------
As you guys were discussing earlier,
I have to say I'm in the middle on the $40 price point. It may just creep through it. No real reason to take profits today.


Quoting harvest3r
Correct. XAG is pressing into $40, XAU has to follow somehow.

For the remaining text... one German TV channel is calling for a "Tolerance Day" next Friday. I think it should be extended to this forum

Ops, resistance is broken, it seems!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,278
  • Apr 6, 2011 9:15am Apr 6, 2011 9:15am
Quoting Euroscum
Euroscum waiting for the short....
Is that you Euroscum at the back with the flowers?
  • #4,279
  • Edited 9:24am Apr 6, 2011 9:21am | Edited 9:24am
Just a reminder it took us the better part of a month to break 1440 with conviction.

Yes there was the reaction old high of 1447 appx., but we can see the difference between a one time high and a true resistance.

Yesterday both were plowed through. Thus, we have created a new price structure.

We are yet again in uncharted territory and it is clear the trend is up, demand is strong, and the USD is getting creamed.

New supports and new resistances will be formed. I wouldn't count on the price plowing through 1450 any time soon.

If it does, support will come in immediately below at 1440
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,280
  • Apr 6, 2011 9:23am Apr 6, 2011 9:23am
Any of you chaps long on yen pairs?

I feel sure these will run for some time.

(I actually came back to the page to look at Euroscum's shorts again, I prefer the blue short, I think they must be the Short sisters.)
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