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

  • #5,741
  • May 3, 2011 7:53am May 3, 2011 7:53am
today is BORING....

No news. Nothing besides 30 pip swings. Maybe I need some new pairs to trade.

Any suggestions.

I trade EUR/USD - GBP/USD - AUD/USD - NZD/USD - USD/CHF -
Sometimes USD/JPY GBP/JPY and EUR/GBP

Gold and Silver. - Obviously

Brent and WTI on demo only

Wanted to start trading exotics but the pip values suck and the margins are 2 high.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,742
  • May 3, 2011 7:58am May 3, 2011 7:58am
Looking to potentially buy gold at 1515.

A few scalps cooking. I took profits as much as I wanted to hold from
all the early 1400s trades. Maybe one 1450 lingering not sure need to check.

Anyone holding sub 1400?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,743
  • May 3, 2011 8:01am May 3, 2011 8:01am
Quoting XTrade
Looking to potentially buy gold at 1515.

A few scalps cooking. I took profits as much as I wanted to hold from
all the early 1400s trades. Maybe one 1450 lingering not sure need to check.

Anyone holding sub 1400?

might be.....

beeb
  • #5,744
  • May 3, 2011 8:02am May 3, 2011 8:02am
As promised. Sorry USD bulls.

Quoting XTrade
Gold and silver looking pretty flat.

May be subject to further correction......

On the other hand the USD ain't looking too pretty either...

Swissy looks ready to dump down to a new low
Attached Image (click to enlarge)
Click to Enlarge Name: swissy new low.GIF Size: 44 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,745
  • May 3, 2011 8:04am May 3, 2011 8:04am


I just got a batch of Silver American Eagles and WOW they are nice. I think the design was changed slightly..

http://www.apmex.com/Resources/Catal.../59157_Obv.jpg

Quoting beeb
might be.....

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,746
  • May 3, 2011 8:09am May 3, 2011 8:09am
Quoting XTrade
today is BORING....
Boring? Well, it may depend on the trading strategy.

Gold is moving 50 pips every 20 minutes and I'm driving nuts, entering orders and closing positions. The positions are tiny, but still... many small positions make a nice win.

It has been by far the best 36 hours in my short trading career: half of my monthly target in less than two days! I'm totally exhausted, though... The last Asian sessions were too volatile and I woke up several times during the night in order to recalculate my positions. I hope the market will calm down today.
"The reason I was born and came into the world is to testify to the truth."
  • #5,747
  • May 3, 2011 8:12am May 3, 2011 8:12am
I don't trade a fifteen minute Gold chart... Unless it's really slow.

That's funny though I woke up last night and did the same thing....

GBP / USD may pop up now....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,748
  • May 3, 2011 8:13am May 3, 2011 8:13am
If you are scalping Harv3ster why not trade LARGER positions with smaller targets like 3.00 USD swings and close.

50 pips = 50 cents BTW

???
Quoting harvest3r
Boring? Well, it may depend on the trading strategy.

Gold is moving 50 pips every 20 minutes and I'm driving nuts, entering orders and closing positions. The positions are tiny, but still... many small positions make a nice win.

It has been by far the best 36 hours in my short trading career: half of my monthly target in less than two days! I'm totally exhausted, though... The last Asian sessions were too volatile and I woke up several times during the night in order to recalculate my positions. I hope the market will...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,749
  • May 3, 2011 8:16am May 3, 2011 8:16am
Now we're getting some action!!!

Just bought Gold. Long EUR and AUD as well - short swissy.....

Tempted to buy cable.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,750
  • May 3, 2011 8:24am May 3, 2011 8:24am
just Bought gold 1546, half a normal position size, looking to add more in.

and silver from 44.15
  • #5,751
  • May 3, 2011 8:38am May 3, 2011 8:38am
Quoting XTrade

I just got a batch of Silver American Eagles and WOW they are nice. I think the design was changed slightly..
Really nice - I also got some of those on Saturday. The feeling of silver is so great that I decided to keep a Mexican Libertad in my pocket. Time and again I take it in my hands (I won't sell it anyway)

I only trade gold. 50 pips = $5.00. Right? My strategy doesn't allow me to open bigger positions at first. Nevertheless, 50 pips make at least $10 per trade, so I'm totally OK with that.

I wonder if a bullish flag is forming on gold right now, around 1545...nevermind, I'm looking at M5
"The reason I was born and came into the world is to testify to the truth."
  • #5,752
  • May 3, 2011 8:40am May 3, 2011 8:40am
GC 5min

Black downfork looks to be in harmony (if you ignore the spike low). Maybe also the blue fork though prob too early to tell....."A" on blue is the 26th low.

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

beeb

PS Early warning - NFP on Friday.......
  • #5,753
  • May 3, 2011 9:56am May 3, 2011 9:56am
Quoting XTrade
Looking to potentially buy gold at 1515.

A few scalps cooking. I took profits as much as I wanted to hold from
all the early 1400s trades. Maybe one 1450 lingering not sure need to check.

Anyone holding sub 1400?
Congrats. Yes, from 1380...
  • #5,754
  • May 3, 2011 9:59am May 3, 2011 9:59am
Quoting harvest3r
Boring? Well, it may depend on the trading strategy.

Gold is moving 50 pips every 20 minutes and I'm driving nuts, entering orders and closing positions. The positions are tiny, but still... many small positions make a nice win.

It has been by far the best 36 hours in my short trading career: half of my monthly target in less than two days! I'm totally exhausted, though... The last Asian sessions were too volatile and I woke up several times during the night in order to recalculate my positions. I hope the market will...
Agreed, good opportunities today... both ways, too: long and short... This is how it should be
  • #5,755
  • May 3, 2011 10:05am May 3, 2011 10:05am
Looking at the longer term chart $41 looks about right for silver.

This volatility might settle down a bit then. Price went down and then up and is taken back down again to where it was supposed to be in the first place.
  • #5,756
  • May 3, 2011 10:07am May 3, 2011 10:07am
I think gold will get to 1580 in near future but both AUD and EUR seem to be ready to dump 1000-1500 pips. Everybody know about Fed's stupidity, technicals, blah blah but big changes are around the corner and as usual exactly when nobody expects them... We can argue about charts all day long though
  • #5,757
  • Edited 10:59am May 3, 2011 10:15am | Edited 10:59am
Gold stalled & bought again to see if retracement be over & silver waiting down 42 for the same again .
fontu


intervention & another spike down perhgaps , anyway 1534 should any bad either to keep though risky & early take before 1518 . closed long & wait again .
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #5,758
  • May 3, 2011 11:48am May 3, 2011 11:48am
Quoting XTrade
As promised. Sorry USD bulls.
Not at all, but USD seems to begin what it usually does during the summer and I think it is the beginning. Please have a look at AUD

Sorry USD bears...
  • #5,759
  • May 3, 2011 12:13pm May 3, 2011 12:13pm
1480 seems a possibility now but I still think we will have some up side before a major correction...
  • #5,760
  • May 3, 2011 12:29pm May 3, 2011 12:29pm
PA @ 1518-1521 is the key now, any strong reversal signal will indicate upside capped by 1545-1555, however PA sliding through 1518-1521 indicates that 1476 is unlocked. If we do reverse at 1518-1521 need to look for upwards sloping fork ML support becoming resistance and initiate shorts upon confirmation. PA on silver indicates further downside for today capped at 37.90, which just happens to be a strong 50 fibo level from the latest swing.

Meanwhile EW indicates 108 as downside target on light crude oil june futures, currently trading at 110.88, with todays low sitting at 110.289, which is also a 50 fibo level from the latest swing, this might be an indication of reversal on metals for now on, however 108 is a near-term target.
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