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

  • #21,041
  • Sep 25, 2012 12:50pm Sep 25, 2012 12:50pm
  •  SwissRaj
  • | Joined Aug 2010 | Status: (¯`·._.· the lonely trader ·._.·´¯) | 109 Posts
Quoting musclemike
Who thinks that?
Sorry. I mean...
anyone think there will be increased margin requirements on gold/silver anytime soon?
(If we go beyond $2000/oz for example)
>>> psychology is more important than technicalities ^_^
  • #21,042
  • Sep 25, 2012 12:54pm Sep 25, 2012 12:54pm
Quoting Nacho
upward trendline on H4 and D1 broken on the downside


what next?

Could you show which trendlines you reckon are broken.....

eg here are a number of 240 min GC trendlines and only the very steepest one has been broken.....

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

beeb
  • #21,043
  • Sep 25, 2012 1:54pm Sep 25, 2012 1:54pm
Hi beeb,

here are the charts I see, they are actually broken channels, but now that I see ur chart I still see that PA is going north

Quoting beeb
Could you show which trendlines you reckon are broken.....

eg here are a number of 240 min GC trendlines and only the very steepest one has been broken.....

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

beeb
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  • #21,044
  • Sep 25, 2012 5:08pm Sep 25, 2012 5:08pm
I see a short term top in silver and will be playing the lower ares for longs
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Don't have an ego. Always question yourself and your ability.
  • #21,045
  • Sep 26, 2012 2:43am Sep 26, 2012 2:43am
Worth a read imho:

http://kingworldnews.com/kingworldne...26_Silver.html

beeb
  • #21,046
  • Sep 26, 2012 11:08am Sep 26, 2012 11:08am
  •  SwissRaj
  • | Joined Aug 2010 | Status: (¯`·._.· the lonely trader ·._.·´¯) | 109 Posts
FYI

The NASDAQ OMX Futures Exchange (NFX) is an all-electronic venue that currently offers trading in Spot Gold Futures and Currency Futures.

The futures are retail size (10 oz) like those of comex MGC.

The liquidity is much better than MGC, smaller spread.
>>> psychology is more important than technicalities ^_^
  • #21,047
  • Sep 26, 2012 11:52am Sep 26, 2012 11:52am
anyone have an explanation for this sell off ?

im long silver avg 29.00
  • #21,048
  • Sep 26, 2012 11:59am Sep 26, 2012 11:59am
Quoting gear66
anyone have an explanation for this sell off ?

im long silver avg 29.00
Got to wait 'till the end of the month and evaluate. Currently we are sitting at what would be the 38.2% retrace if the month closed now (33.85). I think this could get bought and monthly candle finishes closer to its highs.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #21,049
  • Edited 12:52pm Sep 26, 2012 12:29pm | Edited 12:52pm
Quoting gear66
anyone have an explanation for this sell off ?

im long silver avg 29.00
One can come up with any number of reasons but maybe it's better to view it as a retracement/consolidation after a number of very strong days. Looking at it in terms of the bigger picture daily charts puts it in perspective imho....

beeb
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  • #21,050
  • Sep 26, 2012 2:56pm Sep 26, 2012 2:56pm
Where was the price when you asked this? Flirting with 1780?

Profit taking, has no schedule, and as beeb says managed markets I believe, when the price gets a bit high for some of the big player's comfort who are naked short they do the best they can to suppress the outbreak that is ultimately inevitable.

In essence, you don't want the price to rocket straight up. A rise with peaks and valleys and range is preferred allowing the market to pare it's gains, profit out new money in. And the cycle goes on.

Stitches still in, THANKS FOR THE GET WELLS guys, oh and mike I guess you need one too, feel better bro.
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?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,051
  • Sep 26, 2012 4:00pm Sep 26, 2012 4:00pm
Quoting XTrade
....... and mike I guess you need one too, feel better bro.
Lol, you're not far from the truth though, my stomach kept me "out of service" today so i was in bed/WC almost all day...back to our sheeps, you gotta love J. Sinclair, never tired of reading him...thx for the tip... :nerd:.
  • #21,052
  • Sep 27, 2012 5:56pm Sep 27, 2012 5:56pm
..do i hear crickets....
  • #21,053
  • Sep 28, 2012 2:07am Sep 28, 2012 2:07am
IchimokuCharts on YouTube sees possible Eliot Wave/megaphone pattern in this weeks action which would end at $1802, a good place for the "proper" correction in gold to occur, because that pullback to $1738 Wednesday when the October options expired, was cut short precisely at the 23.6% retracement of the February high/May low due to the anticipation of China's economic stimulus.

Inserted Video
You can always make money tomorrow provided you don't lose it today.
  • #21,054
  • Sep 28, 2012 3:41am Sep 28, 2012 3:41am
possible turning point.
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  • #21,055
  • Sep 28, 2012 5:58am Sep 28, 2012 5:58am
It would be just perfect if we could close this week above 1777...just perfect...
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  • #21,056
  • Sep 28, 2012 7:33am Sep 28, 2012 7:33am
http://www.livetradingnews.com/unusu...eabx-87623.htm
You can always make money tomorrow provided you don't lose it today.
  • #21,057
  • Sep 28, 2012 9:16am Sep 28, 2012 9:16am
Quoting Kadc
IchimokuCharts on YouTube sees possible Eliot Wave/megaphone pattern in this weeks action which would end at $1802, a good place for the "proper" correction in gold to occur, because that pullback to $1738 Wednesday when the October options expired, was cut short precisely at the 23.6% retracement of the February high/May low due to the anticipation of China's economic stimulus.

http://www.youtube.com/watch?v=S0kuJ75d3aw
2 main quibbles with the vid (apart from the utter useless nature of EW as a predictive tool ) :

1. the megaphone pattern could easily be drawn as a bull flag.....

2. As with all US-centric traders he is ignoring the effect of the physical market and the effect of gold pricing in other currencies, especially in Euro terms.....

beeb
  • #21,058
  • Sep 28, 2012 12:22pm Sep 28, 2012 12:22pm
Hi

Following this tread closely as I have recently started demo trading gold and silver.just trying to come to grips with it.

Makes a nice addition to the forex.

Good luck to all

ROOI:nerd:
We miss 100% of the shots we don't take
  • #21,059
  • Sep 28, 2012 12:58pm Sep 28, 2012 12:58pm
Your channel is only going back to August in the first chart, in the second the lines look very steep, usually when lines are drawn this way on any chart they have an extreme likelihood to be easily broken.

Look back at the older PA to get an origin and a less steep line.

For instance the channel (weekly) from 2008 was broken topside and bottomside, however the price has found itself once again inside the channel.

Quoting Nacho
Hi beeb,

here are the charts I see, they are actually broken channels, but now that I see ur chart I still see that PA is going north
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,060
  • Sep 28, 2012 1:24pm Sep 28, 2012 1:24pm
Here is a quick channel using 3rd party non bias software and some heavy S/R levels.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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