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

  • #15,041
  • Jan 4, 2012 7:49am Jan 4, 2012 7:49am
Short 1608. SL 1617
Patience is magic
  • #15,042
  • Jan 4, 2012 8:55am Jan 4, 2012 8:55am
Quoting SunTrader
A clean break of 1644 ... And flip side 1524 to downside
Thanks.
  • #15,043
  • Jan 4, 2012 9:21am Jan 4, 2012 9:21am
Target?

I'm not sure about this trade. Just my two cents. We are on the verge of cracking an important resistance which could be one of the areas we need to flip to continue higher.

I'm long from below. The chart shows where.

Quoting muntu ntu
Short 1608. SL 1617
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,044
  • Jan 4, 2012 9:51am Jan 4, 2012 9:51am
Just hit 1615 a close above should flip her back up up and away!
(with resistances along the way)
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,045
  • Edited 10:39am Jan 4, 2012 10:08am | Edited 10:39am
This is one way that I'm looking at price action. Agree that a close above this resistance level could spell more bullish action. This is a rough chart (didn't plot the Fibs exactly - using 2011 low/high)...also deleted the last one because it was from my live trading account (oops).

I do not believe we have hit the low for 2012. We could easily see another run down in the first quarter. This is the kind of volatility I expect as market makers and players maximize profit before Dodd Frank is enforced. I will continue to admit, however, that Dodd Frank enforcement may not be in the cards...

I am open to critiques of my chart as technical analysis is not my strong suit.

Suntrader - would love to learn more about why you think that gold march 2012 contract data may determine overall direction in the near term. This is NOT a challenge - just a humble request for you to share your experience and knowledge.

Cheers
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  • #15,046
  • Jan 4, 2012 10:38am Jan 4, 2012 10:38am
Quoting Wheels
No need to be sorry. Think I came across as rude. Perhaps I should apologize.

I noticed you had very few posts, so I assumed you were one among many who come to this forum asking for trading advice only to lose money and disappear. (Or, lament and complain about how you lost money asking for crystal ball predictions from others to help you make your money back).

From my end, short term technical analysis based trades is a sure fire way to lose money if you are an OTC trader - especially a beginner. Works fine at the bank level when you have...
I am trading live for half a year so I am novice.
I went short before today at 1600.
My feeling is that there was plenty of upside too fast in the last days from a very deep point. So that is why I went short aiming TP 1550 in a few days.
It's just my feeling.

Succesfull trading for all of you.
  • #15,047
  • Jan 4, 2012 10:44am Jan 4, 2012 10:44am
Moreover we are quite above 200 and 100 EMA which is an indicator i think a lot of traders watching. Maybe it also suggests some correction.
But its only my opinion.
  • #15,048
  • Jan 4, 2012 10:47am Jan 4, 2012 10:47am
I am still of a bearish bias and thought the 20 EMA would hold. Sure every thing can happen from here.

Quoting XTrade
Target?

I'm not sure about this trade. Just my two cents. We are on the verge of cracking an important resistance which could be one of the areas we need to flip to continue higher.

I'm long from below. The chart shows where.
Patience is magic
  • #15,049
  • Jan 4, 2012 11:33am Jan 4, 2012 11:33am
X yet again gives me yet another chance to be of expectation.

will definitely post less


gold didnt move with usdx today and i had to treat it as its own instrument wihtout help of correlation



close top long here i guess
almost hit my target


on my perspective it might flag from here as supply from previous hit is quite consumptive of the zone

a good squaring when it hit it to go long.
happy new year all, time of resolutions, more success, revelations, and more health to everyone

its definitely much less stresful to trade mid term
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Have I got something on my face, SOLDIER?
  • #15,050
  • Jan 4, 2012 11:45am Jan 4, 2012 11:45am
divergence on H1 ?
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  • #15,051
  • Jan 4, 2012 12:27pm Jan 4, 2012 12:27pm
Who Knows

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I used to be somebody , now I am somebody else
  • #15,052
  • Jan 4, 2012 12:43pm Jan 4, 2012 12:43pm
Quoting Navid
Who Knows

Attachment
Nobody knows
  • #15,053
  • Jan 4, 2012 12:48pm Jan 4, 2012 12:48pm
Quoting Ravissek
Nobody knows
The Swiss National Bank President's wife knew about the franc.

http://www.washingtonpost.com/busine...vXP_story.html



Bet your bottom dollar insiders know exactly where gold is going. If only they would grace this forum with their sound advice.

Where's BeMac? He's definitely ahead of the curve and a great source of analysis when you can't rely on insider advice and corruption.
  • #15,054
  • Jan 4, 2012 1:09pm Jan 4, 2012 1:09pm
http://www.zerohedge.com/news/gold-j...es-2400-target

In case you missed it in the news section...
  • #15,055
  • Jan 4, 2012 1:13pm Jan 4, 2012 1:13pm
Quoting Ravissek
Nobody knows
Neither do I
I used to be somebody , now I am somebody else
  • #15,056
  • Jan 4, 2012 1:18pm Jan 4, 2012 1:18pm
Quoting Wheels
http://www.zerohedge.com/news/gold-j...es-2400-target

In case you missed it in the news section...
Tanx Wheels
I used to be somebody , now I am somebody else
  • #15,057
  • Jan 4, 2012 1:31pm Jan 4, 2012 1:31pm
You should always treat Gold as it's own instrument first as there are other factors that can affect it on any given day being that it is also a commodity.

Use correlations if you like as a secondary, yet, they always break down at some point.

Currency can be printed out of thin air, gold cannot.

Quoting bumapatria
X yet again gives me yet another chance to be of expectation.

will definitely post less


gold didnt move with usdx today and i had to treat it as its own instrument wihtout help of correlation



close top long here i guess
almost hit my target

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,058
  • Jan 4, 2012 2:56pm Jan 4, 2012 2:56pm
Quoting XTrade
You should always treat Gold as it's own instrument first as there are other factors that can affect it on any given day being that it is also a commodity.

Use correlations if you like as a secondary, yet, they always break down at some point.

Currency can be printed out of thin air, gold cannot.
Despite the fact that I have a lot of doubts about Bumapatria's age, I do appreciate that it affords you the opportunity to offer relevant input, X.
  • #15,059
  • Jan 4, 2012 3:40pm Jan 4, 2012 3:40pm
Quoting Wheels
...

Where's BeMac? ...
I'm here, but mainly as an observer for another week or so. Still limiting my Trading to Cut & Run atm. I Trade roughly 45 weeks of the year. Skip three at Year End & another few for Vacations etc.
I guess I can't say I Don't use MAs because this particular Trade takes Info from a couple of them.
The 200 & 261 SMAs on Close (yeah yeah, I know. Me & MA Periods; The Green is 200. The Blue is 261.)
Currently Long on a Scalp looking for a test of said 200 SMA @~1,631.23
Just a Dabble & not going to add much Cargo, even if I am correct.
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I've Traded over 30 "New Years". I keep my trousers pulled up & my wallet on a chain.

Awe rre best in '12
B
  • #15,060
  • Edited 4:37pm Jan 4, 2012 4:23pm | Edited 4:37pm
Quoting lilpip
Resistance at daily highs noted.
Lets see if she can stay above 1600 as it is the weekly pivot.
tue. daily eyes open to 1577 response
1619
1577
1535
yesterday I typed tue. but met wed.
daily highs noted @ 1619 lets see if she reaches achieves thur. daily highs and bemacs post of 200 sma @ 1632 which lines up with what Im looking at as the first quarter trend guide, eyes open.
thur. daily
1632
1584
1536
A move above 1632 and eyes will be looking at pa and candle formations between 1632 and 1639 .
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