XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 275 | Forex Factory

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

  • #5,481
  • Apr 28, 2011 10:35am Apr 28, 2011 10:35am
Damn, missed my silver long entry order by 7 pips while I was away
  • #5,482
  • Apr 28, 2011 10:47am Apr 28, 2011 10:47am
Just entered long, and silver went down .
Account empty again, no more money for refill, so I'll just use Oanda services for a while. Will use trading point again later.
  • #5,483
  • Apr 28, 2011 10:49am Apr 28, 2011 10:49am
Quoting 4cc
Damn, missed my silver long entry order by 7 pips while I was away
you are luck not having drawdown , false break with new high . falling but within limit & not unexpected .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.gif Size: 7 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #5,484
  • Apr 28, 2011 11:04am Apr 28, 2011 11:04am
Quoting fontu
you are luck not having drawdown , false break with new high . falling but within limit & not unexpected .
fontu
A mild drop is anticipated today because of the option expiration.
  • #5,485
  • Apr 28, 2011 11:09am Apr 28, 2011 11:09am
Quoting myk
long again @ 49.24
down she goes
  • #5,486
  • Apr 28, 2011 11:13am Apr 28, 2011 11:13am
This is looking a tad bearish on silver.
Price is still sitting on the warning line on beeb's fork but there is a decent sized pin bar.
Price failed to get above the previous high - there would have been sell orders sat up there which smacked it back down.

This is a valid pin bar. Nice long wick with small body at its lower end.
However it did not close beneath a big round number.
If this had got behind $48.00 it would have been a strong signal to open the bomb doors and for price to fall.

We are still above beeb's warning line so this support is still intact.
Close eye needed.
Opening new positions rightly was not recommended by the beeb.
  • #5,487
  • Apr 28, 2011 11:26am Apr 28, 2011 11:26am
Quoting Nomi1
are the banks cooking something. very bad data but gold and silver hardly moving.
They did......
But i think we will finally see new high today
  • #5,488
  • Apr 28, 2011 11:37am Apr 28, 2011 11:37am
Quoting six gun
This is looking a tad bearish on silver.
Price is still sitting on the warning line on beeb's fork but there is a decent sized pin bar.
Price failed to get above the previous high - there would have been sell orders sat up there which smacked it back down.

This is a valid pin bar. Nice long wick with small body at its lower end.
However it did not close beneath a big round number.
If this had got behind $48.00 it would have been a strong signal to open the bomb doors and for price to fall.

We are still above beeb's warning line so this support...
Applied pitch fort to the chart , yes looks good .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #5,489
  • Apr 28, 2011 11:51am Apr 28, 2011 11:51am
Quoting jazzmeow
A mild drop is anticipated today because of the option expiration.
you mean the option expiration in gold? that was before yesterday
"The reason I was born and came into the world is to testify to the truth."
  • #5,490
  • Apr 28, 2011 11:56am Apr 28, 2011 11:56am
Quoting harvest3r
you mean the option expiration in gold? that was before yesterday
oops....I am silly....
  • #5,491
  • Apr 28, 2011 11:58am Apr 28, 2011 11:58am
The markets have gone mad today searching for stopz. I m out for now.
MMMYYYKKK
  • #5,492
  • Apr 28, 2011 12:03pm Apr 28, 2011 12:03pm
harvest3r, six gun: Hope it helps! I've only been trading for 5 months (demoed for a while before that), and in that time I've been through countless indicators and systems. I like volume techniques because they make the most sense to me (and it worked the best for me). With that said, I'm looking for a nice support and resistance method and pitchforks seem to be the way to go !
  • #5,493
  • Apr 28, 2011 12:07pm Apr 28, 2011 12:07pm
Quoting jazzmeow
oops....I am silly....
c'mon... it happens


Well, it seems that silver found support at $48. I have to rush, otherwise my new bullion coins will be even more expensive than now
"The reason I was born and came into the world is to testify to the truth."
  • #5,494
  • Apr 28, 2011 12:10pm Apr 28, 2011 12:10pm
Quoting Wysie
harvest3r, six gun: Hope it helps! I've only been trading for 5 months (demoed for a while before that), and in that time I've been through countless indicators and systems. I like volume techniques because they make the most sense to me (and it worked the best for me). With that said, I'm looking for a nice support and resistance method and pitchforks seem to be the way to go !

Wysie - fwiw I've been trading for thirty years professionally and for myself and pitchforks are IMHO by far the best method I've ever found..

beeb
  • #5,495
  • Apr 28, 2011 12:13pm Apr 28, 2011 12:13pm
silver tanking, can't break 50, poor
  • #5,496
  • Apr 28, 2011 12:14pm Apr 28, 2011 12:14pm
Tomorrow's Royal wedding might surprise the markets and make it more memorable... something like: "do you recall Gold price fell almost $100 the very same day?!"

  • #5,497
  • Apr 28, 2011 12:21pm Apr 28, 2011 12:21pm
I do not trade silver but I think we might see 44.5-45 soon... will be a good buying opportunity for mid-term...
  • #5,498
  • Apr 28, 2011 12:22pm Apr 28, 2011 12:22pm
Quoting beeb
Wysie - fwiw I've been trading for thirty years professionally and for myself and pitchforks are IMHO by far the best method I've ever found..

beeb
Gotta chime in here Beeb...I agree 150%...just nothing like the fork. I know of a few other professional traders who have said the same after searching for years and finally discovered Pitchforks.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #5,499
  • Apr 28, 2011 12:26pm Apr 28, 2011 12:26pm
Quoting beeb
Wysie - fwiw I've been trading for thirty years professionally and for myself and pitchforks are IMHO by far the best method I've ever found..

beeb
FWIW (not much) - there are many systems on the go. The Holy Grail is a system which predicts price.
No good having an indicator lagging a million miles behind.

Things like pin bar and similar pa are helpful

Silver is tanking right now - the pin bar suggested to me if price got under $48 the bomb doors would open.
Now it is firing off all those sell stops boom boom boom.

But I am amazed by properly drawn forks.
They will not definitely tell you where price is going to go but hell they are good. Go see the videos on Paul Coghlan's site (look on the calendar there are a few open to the public)

http://www.coghlancapital.com/calendar/2011-02/2011-02

They've taken some of the videos off! but there is one here.
  • #5,500
  • Apr 28, 2011 1:24pm Apr 28, 2011 1:24pm
I'm currently enjoying a careful xagusd long on m1 after seeing a rejection of the lower price levels on H1, let's see how it turns out.
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