XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #4,284
- Apr 6, 2011 7:35am Apr 6, 2011 7:35am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #4,286
- Apr 6, 2011 8:08am Apr 6, 2011 8:08am
- | Joined Aug 2009 | Status: Trader | 1,068 Posts
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
- #4,292
- Apr 6, 2011 9:52am Apr 6, 2011 9:52am
I cannot see any retracement... I mean, not a decent one. XAG is just giving away what it won during the day, nothing more. It would be too much to expect $40 today, even though we were quite close. Well, the day is not over yet...
When (if) silver reaches $40, we shouldn't expect gold to pass 1465. And then... the sell-off? On both? I expect it, but I'm not so sure as Euroscum. Therefore I closed my shorts and will only watch the show - unless my small longs get triggered at 1451.
@beeb: yes, you are right. Actually it reached 1462 when I was writing, so I thought it would go further north. It was a very lazy movement. Gold looks like a mere "supporting actor", trying to follow silver like a drunken man
.
When (if) silver reaches $40, we shouldn't expect gold to pass 1465. And then... the sell-off? On both? I expect it, but I'm not so sure as Euroscum. Therefore I closed my shorts and will only watch the show - unless my small longs get triggered at 1451.
@beeb: yes, you are right. Actually it reached 1462 when I was writing, so I thought it would go further north. It was a very lazy movement. Gold looks like a mere "supporting actor", trying to follow silver like a drunken man
.
"The reason I was born and came into the world is to testify to the truth."
- #4,293
- Apr 6, 2011 9:55am Apr 6, 2011 9:55am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #4,294
- Apr 6, 2011 10:16am Apr 6, 2011 10:16am
- | Commercial User | Joined Oct 2010 | 1,778 Posts
On the risk of getting stoned here, forget gold at current levels, it's a bubble which will pass imho.
With current worldwide turmoil (included in price) it's way to risky to go long.
Consider yourself stoned......lol - seriously if you have good reasons would like to hear them and discuss them......
blue - read the thread......nobody wants to have to repeat themselves every time somebody says "What should I do......"
Having said that... can't advise you because I don't know your timeframes, objectives, risk tolerance etc and don't know if you are an investor or a trader....
So, read the thread - take the time it needs as you are putting real money to work here......and remember that there is always another trade out there
good luck
beeb
- #4,297
- Apr 6, 2011 10:53am Apr 6, 2011 10:53am
- | Commercial User | Joined Oct 2010 | 1,778 Posts
On the risk of getting stoned here, forget gold at current levels, it's a bubble which will pass imho.
With current worldwide turmoil (included in price) it's way to risky to go long.
beeb
- #4,298
- Apr 6, 2011 10:59am Apr 6, 2011 10:59am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Consider yourself stoned......lol - seriously if you have good reasons would like to hear them and discuss them......
blue - read the thread......nobody wants to have to repeat themselves every time somebody says "What should I do......"
Having said that... can't advise you because I don't know your timeframes, objectives, risk tolerance etc and don't know if you are an investor or a trader....
So, read the thread - take the time it needs as you are putting real money to work here......and remember that there is always another trade out there...
I'm an investor and contrarian and a short term speculator.
As an investor I say gold has no real value apart from those few ounces put in wedding rings and some circuits.
The world is in a terrible shape right now while the USD is an almost worthless currency so where to invest in right now.
My answer is commodities (been doing so for the last 2 years and prob. coming 10 years) but certainly not gold but something having real value like agriculturals, copper, zinc etc...
I've read the thread and I find that most participants are blindly bullish on gold just because it's been a bull for such a long time. I consider this very dangerous.
As a contrarian I say watch out this is not a pattern where you can sleep confident as a bull:
M1:
Don't be a hero. Don't have an ego. Always question yourself
- #4,299
- Apr 6, 2011 11:09am Apr 6, 2011 11:09am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Before i say anything, Im not a gold bull or a gold bear, infact i dont give two hoots where gold goes, I have no bias, i just trade whats in front of me.
I would not go long here either, but i will go long on any pullbacks with a decent pa setup (perhaps to 1440 as it stands), and i will continue to do so so long as the trend is up. So long as the risk is controlled there is nothing risky about it. And when it does roll i will be short, very short!
agreed, but I only take the shorts if you don't mind Don't be a hero. Don't have an ego. Always question yourself
- #4,300
- Apr 6, 2011 11:14am Apr 6, 2011 11:14am
Auw..., that hurted
I'm an investor and contrarian and a short term speculator.
As an investor I say gold has no real value apart from those few ounces put in wedding rings and some circuits.
The world is in a terrible shape right now while the USD is an almost worthless currency so where to invest in right now.
My answer is commodities (been doing so for the last 2 years and prob. coming 10 years) but certainly not gold but something having real value like agriculturals, copper, zinc etc...
I've read the thread and I find that most participants...
Hopefully we will not move to the barter system, so what to do?
You need something that is rare or else we are back to the fiat system in another form. Gold has for thousands of years held this place. Never done the survey but my guess is 99% of cat owners would recognise gold as something valuable. Something with highly concentrated value.