XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1051 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD, Silver/USD

Similar Threads

Gold futures & XAU 78 replies

GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies

Daytrade - XAU/USD & XAG/USD 14 replies

XAU/JPY & XAG/JPY 13 replies

Successful XAU/USD traders 7 replies

Attachments: XAU/USD & XAG/USD - Gold & Silver Traders Thread
Exit Attachments

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

  • #21,001
  • Sep 21, 2012 2:20am Sep 21, 2012 2:20am
Quoting Erebus
DOH, cause when all the X-perts chip in with their 2 cents, we all know what happens, get it?

Ah - got it.....

Bit obtuse though

And I hardly think that one guy that nobody has ever heard of is "all the experts..."

But it's a good point
  • #21,002
  • Sep 21, 2012 7:22am Sep 21, 2012 7:22am
  •  SwissRaj
  • | Joined Aug 2010 | Status: (¯`·._.· the lonely trader ·._.·´¯) | 109 Posts
Everybody see gold at 2000, 3000, 5000 and above....
But i guess we won't go there without some retraces, pullbacks, profit taking, corrections....

Are we trading or piling gold bars in the basement?

Even more, are we heading to a gold bubble?
>>> psychology is more important than technicalities ^_^
  • #21,003
  • Edited 9:15am Sep 21, 2012 9:01am | Edited 9:15am
GC 240 shown many times before - approaching ML resistance for the third time. For the bullish move to accelerate, would like to see breach of 1797 level followed by support there. Breach and no support could be a flush.....

On this chart, not breaching that level could mean some retracement but the bullish case remains until the lines of existing support give way and we start to see a lowering of resistance.....

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

beeb
  • #21,004
  • Sep 21, 2012 9:19am Sep 21, 2012 9:19am
Quoting SwissRaj
...are we heading to a gold bubble?....
Don't tell anyone this ever again...sounds really newbish.
  • #21,005
  • Sep 21, 2012 9:42am Sep 21, 2012 9:42am
  •  SwissRaj
  • | Joined Aug 2010 | Status: (¯`·._.· the lonely trader ·._.·´¯) | 109 Posts
Quoting musclemike
Don't tell anyone this ever again...sounds really newbish.
Sorry. Just thinking in loud voice.
Just tired of articles of fortunetellers screaming that gold will reach $10,000

I just daytrade the thing, with a kind of bullish sentiment, but i don't care about price targets, golden crosses or whatever.

But i can't help from thinking... will the future generations talk about the gold bubble like we do now about tulips?
>>> psychology is more important than technicalities ^_^
  • #21,006
  • Sep 21, 2012 9:45am Sep 21, 2012 9:45am
Quoting SwissRaj
will the future generations talk about the gold bubble like we do now about tulips?
You're a newbie - read the thread - we've been over it numerous times......

beeb
  • #21,007
  • Sep 21, 2012 10:02am Sep 21, 2012 10:02am
  •  SwissRaj
  • | Joined Aug 2010 | Status: (¯`·._.· the lonely trader ·._.·´¯) | 109 Posts
I beg your pardon guys. I won't do it again, i promise.

So, let's see the veterans in action:

Explanations for that sudden mini-selloff in the chart?
Only event in the agenda seems to be Dennis Lockhart Speaks at
12:40 PM ET

London and zurich close?
Quadruple Witching?
>>> psychology is more important than technicalities ^_^
  • #21,008
  • Edited 10:38am Sep 21, 2012 10:10am | Edited 10:38am
Quoting SwissRaj
I beg your pardon guys. I won't do it again, i promise.

So, let's see the veterans in action:

Explanations for that sudden mini-selloff in the chart?
Only event in the agenda seems to be Dennis Lockhart Speaks at
12:40 PM ET

London and zurich close?
Quadruple Witching?
No probs

Manipulated markets - look at the volume spike

Physical mkt closes - paper mkt fecks about to try to paint a negative picture and protect stops above.....

beeb

EDIT - here is 10min volume for GC - note 17k + contracts.....
Attached Image (click to enlarge)
Click to Enlarge Name: gc10.jpg Size: 76 KB
  • #21,009
  • Sep 21, 2012 11:04am Sep 21, 2012 11:04am
I'm all out at $1785(ish) and watching EUR/USD for direction.

Note the decreasing volume as the price has risen from $1772 is typical of minor pullbacks to Fibonacci levels before continuing a move (downward in this case), so I placed a small short at $1778, just below the 38.2% of the fall from $1790 to $1772, and if EUR/USD breaks below 1.2975 I'll add to it (also short some Euro pairs and maybe long USD pairs as well).

I have no conviction at this point that this is the start of the "real" pullback, but a pullback is overdue and it's a quadruple witching Friday so many trading desks will be taking profit which makes me willing to take a small risk.

If there is no pullback today, I will be very cautions about taking large long positions with $1800 so near offering an obvious resistance level.

p.s. When it comes to precious metals, I'm using Dec future prices not spot.

addendum: I apologize for not posting an example of what I was talking about earlier this week: My schedule for the week became unexpectedly busy.
You can always make money tomorrow provided you don't lose it today.
  • #21,010
  • Sep 21, 2012 11:15am Sep 21, 2012 11:15am
  •  SwissRaj
  • | Joined Aug 2010 | Status: (¯`·._.· the lonely trader ·._.·´¯) | 109 Posts
Just another newbie thinking:

That volume spike in nymex GC...

...could be due to quadruple witching instead of hard manipulation?

...if manipulation of GC, why the movement also appears in XAUUSD?

i'm a bit confuse here.
thanks in advance
>>> psychology is more important than technicalities ^_^
  • #21,011
  • Sep 21, 2012 11:18am Sep 21, 2012 11:18am
Quoting SwissRaj
Just another newbie thinking:

That volume spike in nymex GC...

...could be due to quadruple witching instead of hard manipulation?

...if manipulation of GC, why the movement also appears in XAUUSD?

i'm a bit confuse here.
thanks in advance
comex not nymex

ask yourself who benefits from the market manipulation

they would have to move together or they would be arbitraged (look it up)

beeb
  • #21,012
  • Sep 21, 2012 11:31am Sep 21, 2012 11:31am
Can you tell me how to get this chart where it shows Volume?

Quoting beeb
No probs

Manipulated markets - look at the volume spike

Physical mkt closes - paper mkt fecks about to try to paint a negative picture and protect stops above.....

beeb

EDIT - here is 10min volume for GC - note 17k + contracts.....
  • #21,013
  • Sep 21, 2012 11:38am Sep 21, 2012 11:38am
Quoting firsttrader
Can you tell me how to get this chart where it shows Volume?

If you click on my name you will see from my profile that I use Ensign charting with Esignal feeds - if you do as well I can tell you - otherwise I can't....

beeb
  • #21,014
  • Sep 21, 2012 11:45am Sep 21, 2012 11:45am
Quoting Kadc
Note the decreasing volume as the price has risen from $1772...
Clarification: I meant after the fall from $1790 on the five-minute chart or other short-term chart. At this point volume has been too low for too long, making it increasingly likely to see spikes that will take out tight stops.
You can always make money tomorrow provided you don't lose it today.
  • #21,015
  • Sep 21, 2012 12:21pm Sep 21, 2012 12:21pm
I got it..Thanks

Quoting beeb
If you click on my name you will see from my profile that I use Ensign charting with Esignal feeds - if you do as well I can tell you - otherwise I can't....

beeb
  • #21,016
  • Edited 1:45pm Sep 21, 2012 12:59pm | Edited 1:45pm
Quoting SwissRaj
.....
So, let's see the veterans in action:

Explanations for that sudden mini-selloff in the chart? .....

Manipulated markets were, are and will be around forever or at least for a long time from now. If you look back @ post #21077 you would see what i mean, Jim Sinclair is more than explicit...
  • #21,017
  • Sep 22, 2012 10:54pm Sep 22, 2012 10:54pm
if we say... gold price is up, because of inflation and safe haven need...
price is 1777, how much is safe haven part of this price?
  • #21,018
  • Sep 23, 2012 2:06am Sep 23, 2012 2:06am
http://i.imgur.com/4qQdM.png

Looks like uptrend channel is still holding
thinking to go long again
  • #21,019
  • Edited 3:02am Sep 23, 2012 2:24am | Edited 3:02am
Update of GC Daily - still running to form.... To recap:

The resistances along the red sp - marked by green circles - held price from late Feb to mid July. Short entries abound....

A wedge formed between this red sp and the sp below the LP of the blue fork.

The series of touches on the blue sp were low risk long entries with tight stops available below prior lows.

The purple circle shows first breach of red sp and the blue circle shows prior resistance becoming support.

Price moved to the UP of the red fork and again the breach was followed by a retest. Ditto at the outer quartile of the red fork.

Price has now reached the WL of the red fork - green circle again - as well as horiz resistance from the feb high. Also poss sp res from blue fork. This, together with a completed abcd from the Dec low has me watching smaller timeframes to get clues as to whether we get the same pattern again or whether it's time for more of a retracement....

beeb
Attached Image (click to enlarge)
Click to Enlarge Name: gcd.jpg Size: 147 KB
  • #21,020
  • Sep 23, 2012 3:51am Sep 23, 2012 3:51am
Quoting beeb
Update of GC Daily - still running to form....

Fantastic Chart. Thanks You
212 traders viewing now