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

  • #19,061
  • Jun 4, 2012 12:34pm Jun 4, 2012 12:34pm
can we see 1600 again ???
and if yes what will be the next move ? any action or waiting for news "Bernanke" ???
  • #19,062
  • Jun 4, 2012 12:39pm Jun 4, 2012 12:39pm
Quoting Fib
Hello Peet,
For me I'm waiting to go long at 1600, 1597 .


That's what I doing , buy from 1600 and 1607
  • #19,063
  • Jun 4, 2012 12:45pm Jun 4, 2012 12:45pm
Quoting Fib
Hello Peet,

I think it will not be any big moves till Bernanke and Draghi start to sin
.
But Each time I want to know what bernanke saying I couldnt know till the price move up or down
there is any chance to know the result of this Testifies when it is done ?? or waiting for price trending ???
  • #19,064
  • Jun 4, 2012 1:27pm Jun 4, 2012 1:27pm
  •  Fib
  • | Joined May 2012 | Status: Dinapoli+Fibonacci=Upper Hand | 58 Posts
Quoting Peet91
But Each time I want to know what bernanke saying I couldnt know till the price move up or down
there is any chance to know the result of this Testifies when it is done ?? or waiting for price trending ???
Well my friend , the chart always telling you what others say .

My method is to wait and see or just don't trade it , and wait for 38.2 and enter long or short .

With Gold always use a proper MM and be careful.

Good luck.
  • #19,065
  • Jun 4, 2012 1:33pm Jun 4, 2012 1:33pm
Gold slips a bit off high which was expected.

Now that it has retaken the 2008 channel (weekly) dipline (in red)
it seems to be offering some support so far.

Next on the way up we may see some resistance at the 50 week SMA

and the channel bottom in blue.

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

If the price can stay in or around the 1600 area, this could be the beginning of another massive move up and complete the weekly symmetrical triangle projection of 2150, Now that the triangle has been broken and truly tested,
as well as multiple supports staying and being oversold.

Tip: Buy dips.
see chart
Attached Image (click to enlarge)
Click to Enlarge Name: Gold Weekly update june.GIF Size: 45 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,066
  • Jun 4, 2012 1:36pm Jun 4, 2012 1:36pm
Also a longer term double bottom may be in place now and I stress "may"
because anything can happen.

The first bottom is in december I believe and the second would be know.

I'll post the chart later,
gotta run.

XT
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,067
  • Jun 4, 2012 11:23pm Jun 4, 2012 11:23pm
Look at the news here and see what's coming up that might affect gold fundamentally
http://www.forexfactory.com/
Such as:
Fed Talks
China / Eurozone etc.
INFLATION
UNEMPLOYMENT
CPI

ETC.

You NEED EXPERIENCE AND TIME SPENT WATCHING THE PRICE ACTION THE FUNDAMENTALS AND THE TECHS TO MAKE ASSESsMENTS AND PREDICTIONS>

Quoting Peet91
But Each time I want to know what bernanke saying I couldnt know till the price move up or down
there is any chance to know the result of this Testifies when it is done ?? or waiting for price trending ???
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,068
  • Jun 4, 2012 11:26pm Jun 4, 2012 11:26pm
Here is a chart DAILY GOLD with what looks like the possibility of a bull flag forming off the pole 3 daily candles ago.

now we have a slight downslope.

All we need is another breakout.

See notes on chart and note the interesting pivot level / S/R level
Attached Image (click to enlarge)
Click to Enlarge Name: Gold Bull flag weekly possible June 12.GIF Size: 34 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,069
  • Jun 5, 2012 2:02am Jun 5, 2012 2:02am
Quoting XTrade
You NEED EXPERIENCE AND TIME SPENT WATCHING THE PRICE ACTION THE FUNDAMENTALS AND THE TECHS TO MAKE ASSESsMENTS AND PREDICTIONS>
Thanks Xtrade
You are right about the experience and watching price action but what I am asking is there is a way we can know the result of a news before it release from inside ??
or a site that predict the value of ISM Non-Manufacturing PMI before it release ??
I know that watching price action is so important and I am still learning but I think there is another way to know the result of a big news at least earlier with 30 sec , I am not sure but you know it's like a dream may came true
  • #19,070
  • Jun 5, 2012 2:14am Jun 5, 2012 2:14am
Hey Guys
what about BOC Rate Statement that will release today any idea it may affect Gold or not ??
I am waiting for the ISM today and I need to know if the news about BOC Rate can change the gold price or not that important ???
  • #19,071
  • Edited 4:16am Jun 5, 2012 3:47am | Edited 4:16am
Not the right thread for you buddy. You need to go to the EU thread, they will love you there. Ask for Cloggie, he will help you.

Quoting Peet91
Hey Guys
what about BOC Rate Statement that will release today any idea it may affect Gold or not ??
I am waiting for the ISM today and I need to know if the news about BOC Rate can change the gold price or not that important ???
Hello.
  • #19,072
  • Jun 5, 2012 4:59am Jun 5, 2012 4:59am
Hello Bulls, Bear here.

A very basic chart with a couple of average trend lines for all you trend setters to take a look at. ( I do my trend lines a little different to normal but it works for me ).
I trade on the daily chart with relatively small lots to keep my stops and limits getting smashed to early. I keep trades open for anywhere up to 2 weeks.

The chart shows from the start of 2012 until mid August as you can see.

YELLOW LINE. previous average up trend. (trend changed 29/02/12 so it is no longer in use but I leave it there for safe keeping)
PINK LINE. current down trend started high late last year.
BLUE LINE. current down trend started high late last year.

So the way to understand my current downtrends is basically on the daily chart, gold will have a couple of great days followed by a couple of bad days, or vice versa. If the trend continues the prices will come back to my lines almost like a magnet.

Of course, I had a loss February/March as the trend changed, but that's part of the game.

My PINK AND BLUE lines have been on my chart for over a month. Obviously when I turned my computer on this morning I had a massive smile on my face. I'm posting this chart just so you guys can have a look, any criticism/comments welcome.

As you can see I am currently long for different reasons, but with a relatively small stop, so don't think I'm a hyprocrite for being long and saying there is a downtrend.
  • #19,073
  • Jun 5, 2012 5:01am Jun 5, 2012 5:01am
Forgot the chart .
Attached Image (click to enlarge)
Click to Enlarge Name: down.jpg Size: 119 KB
  • #19,074
  • Jun 5, 2012 5:25am Jun 5, 2012 5:25am
Quoting nelso
Hello Bulls, Bear here.

A very basic chart with a couple of average trend lines for all you trend setters to take a look at. ( I do my trend lines a little different to normal but it works for me ).
I trade on the daily chart with relatively small lots to keep my stops and limits getting smashed to early. I keep trades open for anywhere up to 2 weeks.

The chart shows from the start of 2012 until mid August as you can see.

YELLOW LINE. previous average up trend. (trend changed 29/02/12 so it is no longer in use but I leave it there...
Now, you claim to be a bear, but your chart says you are bullish as we wait the upcoming fundies. I guess the potential flag and your trade say you are expect price going higher in the short term.
  • #19,075
  • Jun 5, 2012 5:50am Jun 5, 2012 5:50am
Quoting jsr
Now, you claim to be a bear, but your chart says you are bullish as we wait the upcoming fundies. I guess the potential flag and your trade say you are expect price going higher in the short term.
It's always a good idea to read the whole post, especially the last paragraph.

I'm not exactly sure what your point is, but yes I expect my long to be closed within the short term (<24hrs) and the long-term (1month+) is a downtrend.
  • #19,076
  • Jun 5, 2012 6:27am Jun 5, 2012 6:27am
Quoting nelso
It's always a good idea to read the whole post, especially the last paragraph.

I'm not exactly sure what your point is, but yes I expect my long to be closed within the short term (<24hrs) and the long-term (1month+) is a downtrend.
Sorry for that Nelso, I did'nt see the last paragraph. You were right on that.

There is no point other than curiosity. Where do you think price will find a solid resistance?
  • #19,077
  • Edited 11:02am Jun 5, 2012 9:20am | Edited 11:02am
Quoting nelso
It's always a good idea to read the whole post, especially the last paragraph.
.......
It is always better to be clear from the start of a post.

A bear doesn't go long whether in a downtrend or not.

Simple.
  • #19,078
  • Jun 5, 2012 11:25am Jun 5, 2012 11:25am
Hi there I m new here. I wanna ask usually for trading gold, what indicators should we use? or what system in particular? Thanks!
  • #19,079
  • Jun 5, 2012 12:19pm Jun 5, 2012 12:19pm
The one between your ears.
  • #19,080
  • Jun 5, 2012 12:35pm Jun 5, 2012 12:35pm
Quoting SunTrader
The one between your ears.
lol. you dont say?
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