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

  • #9,521
  • Aug 30, 2011 5:17am Aug 30, 2011 5:17am
sudden spike at us open. all were afraid of fomc later
  • #9,522
  • Aug 30, 2011 5:17am Aug 30, 2011 5:17am
Quoting beeb
...... my "ego trip" continues .....
Curious.
  • #9,523
  • Aug 30, 2011 5:18am Aug 30, 2011 5:18am
Quoting The Oracle
sudden spike at us open. all were afraid of fomc later
it's not US open for another hour though, is it?
  • #9,524
  • Aug 30, 2011 5:21am Aug 30, 2011 5:21am
Quoting CathS
it's not US open for another hour though, is it?
it opened one hour earlier because of the daylight savings time.. people buy more because they were uncertained of the fomc outcome later in the day
  • #9,525
  • Aug 30, 2011 5:22am Aug 30, 2011 5:22am
not buying into this rally, seems dodgy.. too far too fast my gut is telling me.


Mitch
  • #9,526
  • Aug 30, 2011 5:25am Aug 30, 2011 5:25am
Quoting The Oracle
it opened one hour earlier because of the daylight savings time.. people buy more because they were uncertained of the fomc outcome later in the day
oh thankyou, a trap for young players on the other side of the world, I thought daylight savings started later as it does here.
cheers!
  • #9,527
  • Aug 30, 2011 5:27am Aug 30, 2011 5:27am
Maybe it'll be enough to invalidate the HNS? I'm waiting by all means to clear previous highs around 1838 or 1850+ before going long again.
  • #9,528
  • Aug 30, 2011 5:47am Aug 30, 2011 5:47am
Quoting CathS
........I thought daylight savings started later as it does here.
cheers!
You are right, it does start later here in the US. Change will happen on 1st Sunday of November.

Wall Street doesn't open till 45 minutes from now.
  • #9,529
  • Aug 30, 2011 5:58am Aug 30, 2011 5:58am
Quoting SunTrader
You are right, it does start later here in the US. Change will happen on 1st Sunday of November.

Wall Street doesn't open till 45 minutes from now.
Thanks - I thought the starting time was closer to Australia's, and I actually reckon it then opens later, as over our winter Wall St opens 11pm my time, over our summer it's not until 1am as our daylight savings goes in the opposite direction - ugh!!

So that leaves the question of the excitement an hour before opening!!
  • #9,530
  • Aug 30, 2011 6:25am Aug 30, 2011 6:25am
Good BOTH OF you Put eachother on ignore and move on.

I am not going to take any sides here except to say that enough space has been wasted.

If you want to continue this conversation please do so via private message.

-------------

realjumper, had you read beeb's posts you would see clear backup for his reasonings, you don't need to agree with them or anyone for that matter, yet they are there.

Quoting realjumper
"I've also been a trader both professionally and privately for over thirty years".......whay did you say that if not for ego...lol......

Welcome to my iggy list...enjoy having the last word.....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #9,531
  • Aug 30, 2011 6:29am Aug 30, 2011 6:29am
WELL PUT CATH.

What is the big f-ing deal. The price is rising so BUY
WHEN it starts falling for awhile SELL.

Yes it is that simple. (pretty much)

Quoting CathS
Wow kids, let's take it outside!
Can I also say that I don't think it matters if we are in a bubble or not - why not just ride it up using good MM knowing that the ride won't go on forever? And be prepared to ride it down again once the charts and fundamentals direct us to? Is that too simplistic? - maybe I completely misunderstand what a bubble is........

Anyway thanks for the continuing lessons & often entertaining discussions!

(And as an aside, thanks Bemac, for your ongoing wise counsel and for always managing to make me laugh!)...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #9,532
  • Aug 30, 2011 6:33am Aug 30, 2011 6:33am
NEED TO TAKE OUT 1825 test it and move up.

Yet I will be happy with a simple, old fashioned break out.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #9,533
  • Aug 30, 2011 6:59am Aug 30, 2011 6:59am
now it went back to its previous high last friday --> 1832
  • #9,534
  • Aug 30, 2011 7:05am Aug 30, 2011 7:05am
Quoting beeb
For those that are interested my "ego trip" continues by actually showing something concrete in a self-serving manner .......lol

GC 20 min fork - You can probably guess the trades......



beeb
thanks for sharing.
  • #9,535
  • Edited 8:17am Aug 30, 2011 7:24am | Edited 8:17am
Wrong person
Anything can happen.
  • #9,536
  • Aug 30, 2011 11:20am Aug 30, 2011 11:20am
Is this looking ready to pop?
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Anything can happen.
  • #9,537
  • Aug 30, 2011 1:25pm Aug 30, 2011 1:25pm
Took a breakout of the 61.8 retracement, aiming to get out at 1850.
Attached Image(s) (click to enlarge)
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Anything can happen.
  • #9,538
  • Aug 30, 2011 1:39pm Aug 30, 2011 1:39pm
Update on the GC 20 min fork posted earlier - to my eyes and trading style the lines in parallel with the fork work far better than horizontals as supports and resistances.....

beeb
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  • #9,539
  • Aug 30, 2011 1:52pm Aug 30, 2011 1:52pm
Quoting beeb
Update on the GC 20 min fork posted earlier - to my eyes and trading style the lines in parallel with the fork work far better than horizontals as supports and resistances.....

beeb
what do you think of my fork?
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  • #9,540
  • Aug 30, 2011 2:03pm Aug 30, 2011 2:03pm
Quoting longshot_nl
what do you think of my fork?
A critique would be that you are drawing a downfork in an uptrending market - there's nothing wrong in that per se if all you are doing is looking for resistances and supports in the general uptrend.

Also you have not gone from a swing high to a swing low to a swing high - there is as much art as science in forks as I have said many times - but take this the right way - technically your fork is somewhat shaky.....

Keep practicing - and it would help if it was more visible....

beeb
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