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

I'm in this one

wasn't it about this time last week when gold broke out?

H1 close above 1880, party time?

I somewhat agree that I Could get a better Long Fill if I Wait. Maybe.
Nah... I go Long at the Ask & 'perhaps' may suffer some drawdown but I think the conclusion will add cargo.
When it re-opens.

B

This is a combination of the template created by brijon and the breakout indicator by Sqalou. Just put it all together. Those yellow Bosun lines are accurate as $hit for support/resistance levels.

breakout box here http://www.forexfactory.com/showthre...32#post4903432

http://lcchong.files.wordpress.com/2...ng?w=877&h=398

I see quite a potentially profitable long setup on silver now it has cleared 43 and closed above it. I drew some fibs on the dailt chart form the high ($49.81) of 2011.04.25 down to the low ($32.30) of 2011.05.12. These put a 61.8 retracement of that move at around $43.10ish which acted as a ceiling for the most part of Friday until it pushed through and now looks to have flipped from resistance to support (1H chart).

I can only see round numbers ahead but if gold continues up this week silver could offer up some very nice opportunities..

While I agree for the foreseeable future higher we go, IMO price action yesterday was related to natural whole number of $43.00 since on an intraday basis it was continuously in an uptrend other than pauses a little in that area.

do you still usethe Murrey Match levels?

I tested them with GOLD as you suggested, and they are working quite good.

Definitely some nice bullish closes.

Did anyone take the Swissy short on NFP Friday???

Nice drop.
Once again AU above PT slightly

AG looking strong and ready for retest of the big 50.

This could be a great physical trade. Buy the cheapest .999 you can find @ say
44. Then dump at 49/50 for an appx 6 USD profit per OZT.

Just woke up. for a minute. After I stopped focusing on London, and primarily trading the "power session" or what I like to call it. (8am New York open - Picks up London Mid session to close at 12:00 noon EST) I have this weird clock that wakes me up anywhere from 2:30 to 3:30.

Sometimes I even like a 6:00 am start - reading news - reviewing charts,
Looking at PA and the News rack for the day.

Then, enter look for those breakout trades that usually finish by say 10:30
after US stox open. For instance Euro in range, London sells it down 120, if the range is respected you can almost always bet your ass NY will buy it back by 100 pips come 10:30. Not all the time. But, when it works it works great.

Pick 3 or 4 pairs in the same or "trending" condition and you can make a nice 400 pip day in a few hours. NOT even including Gold and silver.

The key is afterwards stopping all trading if you are day trading, if positioning some I just leave the stops and ride the trend.

Also, if you buy the range bottom usu. the risk can be in the 1:3 or 1:4 with meager losses if all goes wrong.

Love those days. Anyway this was not the point of my post so see next one

Silver

Reg:
1 OZT RANDOM. - pretty much the cheapest:
1 - 49$45.16$46.51
http://www.apmex.com/Resources/Catal...s/156_slab.jpg
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____________________________________________________________l l l l l l l l l l
WOW - you NEVER SEE THESE. GREAT ITEMS TO ReSELL on Fleabay! VVVVVVVVV

PAMP SILVER BARS!!! - I have some in Gold and I must say they are by far the most beautiful piece of bullion out there.
The premium is high, but it holds if not more. When spot was 20 bucks a troy oz a 2.5 YES 2.5 GRAM bar of silver could fetch anywhere from 15 to 20 bucks.

To put that into perspective there are 31.1 Grams in an ozt.

These will not last, they will probably be gone in a few days especially the ones in Grams.

http://www.apmex.com/Modules/catalog....jpg&width=100
THE 100 GRAM is the BETTER DEAL.... Just grabbed one and some assorted other fun stuff
You CANNOT GO wrong with these bars. They WILL SELL OUT. Then they will turn up on fleabay for 1/3 + more of the price
UNLESS PAMP has decided to start continuously reproduce more silver, which you STILL can't go wrong!

There is a TON of old stuff up that must have been sold in on this last rise.

100 Gram PAMP silver

Tomorrow is a US holiday so expect some less than normal liquidity/volatility.

Should be an interesting month, not to mention the 4th quarter.
This is what I see from my angle.
Sept. monthly
1974
1757
1648
with eye on 1952 response.
With the break of fri. highs 1847-8, bias is up from that area on monday.
For the week bias is down from the higher yearly timeframe resistance 1936.
Just as a heads up was given 2 weeks to take partials @ the 1912-36 from 1495-1551 area, my view still stands untill were trading on the otherside of 1936.
Again avoid adding longs in this 1916-36 area until confirming support of 1936.
weekly
1936
1832
1728
mon.daily
1896-1901
1847-8
1793
monthly silver bias is up from 40.25 and watching how the 45.65 area responds.
weekly bias up from 42.05
44.76
42.05
39.30
mon.daily
bias is up from its fri. highs breakout at the 42.05-25 area
43.81
42.25
40.75

had a nice stab at 1890, ran into some resistance which may act as intraday high before falling to 1875, a minor support. I'm long at 1825 and 1867, not expecting a break of 1900 as I feel the shorts will protect it as long as they can because the next stop will be the 2000 mark which will be very very interesting.

I'm BE+1 on my trades. if we have another dip I will only be more entitled to buy a bigger lot size as none of the fundies or techs behind this bullish run have changed.

Mitch

Ok so here's my analysis:





If silver can drop below 42.83, then I think you have a low risk short opportunity here with a stop just above the channel high at 43.40.

Bought Gold this morning on 1 hour ent at 1882.41.

Trend still in tack some selling on open, with tail on bar to support buyers in what looks like now a simple correction to resume move up. 1st Target 1900

now going to leave it to the market.......

scfx

wheres my mate, sir beeb

looking foward to a fork to compare to my own. send me a PM when you get a chance bud.

Mitch

Gold seems really good at the first start(1890).. But now is very low at 1877..

This week gold trend should be up isn't it?

Got 1 buy around 1880ish, and hopefully it keep increasing today-tomorrow to 1900 points..

Thanks

i don't think you should 'hope'.