XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1057 | 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

  • #21,121
  • Edited 5:57pm Oct 7, 2012 3:30pm | Edited 5:57pm
Seems to me gold will go down intentionally because of Iran. Near Iran there is all Nato navy with jet figters, aircraft carriers and so on. In near future Iran will make it's own training. Also right now Iranian rial has about 60 percent inflation rate monthly
Iran knew this and he has about 300 tons of gold. I suspect strongly, gold will go down. It also means, dollar will become stronger, but that was eliminated by qe3... So short is quite good strategy. I mean sometimes money could lie in front of you While ,,renegade'' will be ,,trained'', we can take position near 1800...
BTW who knows which oil has iran and what is price action there?
  • #21,122
  • Oct 8, 2012 6:49am Oct 8, 2012 6:49am
Guys,

Look at my chart on Daily and 4 Hr, they are on the resistance....

As usual, upward move that comes from 1530s to 1800 (which is about $270 in 2 months) need to have a correction. at this cheaper prices, Buyout opportunities awaits .

If u look at daily chart, theres a Full "cup" in "cup and handle pattern", the handle awaits. While the handle is forming, we will be going in range of consolidations....

Monthly and weekly are both bullish, In fact, Look at the monthly chart, It just turn bullish on me.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold chart sept 4h.gif Size: 19 KB
Click to Enlarge Name: gold chart oct daily.gif Size: 25 KB
Click to Enlarge Name: gold chart oct daily new.gif Size: 27 KB
Click to Enlarge Name: gold chart oct weekly.gif Size: 29 KB
Click to Enlarge Name: gold chart oct monthly.gif Size: 26 KB
  • #21,123
  • Edited 10:39am Oct 8, 2012 9:49am | Edited 10:39am
Hey all,

Looks like some typical resistance 5 USD below the BIG round number 1800

Climbing back up today. a bit.

Although I agree and had posted in one of my last posts the idea of the cup and handle.

At this point I need to do a bit of analysis to guess-timate the low of the handle before the breakout north occurs which would propel us past the old high should the pattern succeed.

Charts not live lower and live 3 day below.

Looks like 1765 is holding as support with daily resistance @ 1795 top
potential pivot area 1780

http://www.kitco.com/images/live/gold.gif
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 15.png Size: 24 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,124
  • Oct 8, 2012 9:51am Oct 8, 2012 9:51am
Let's all closed our longs based on this detailed analysis you have provided.

Quoting MrGreed
Long Term: I see reversal pattern on Gold !

First confirmation will be 1617

S1 1413

S2 1224

S3 1034

Everybody view on Gold is 1800, 1950 and much more above!

So expect unexpected.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,125
  • Oct 8, 2012 10:37am Oct 8, 2012 10:37am
China set to become largest jewelry market by 2020

http://www.bullionstreet.com/uploads...1349685633.jpg

Quote
BEIJING(BullionStreet): China is all set to become world's largest consumer market for jewelry by 2020, according to Gems&Jewelry Trade Association of China.

The Association said although per capita jewelry purchase in China is far behind that in developed countries, the growing purchasing power of Chinese consumers will provide the fundamentals for rapid market growth.

Sales of jewelry in China reached 40 billion yuan ($6.33 billion) in 2011, an increase of 33 percent year-on-year.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,126
  • Oct 8, 2012 10:45am Oct 8, 2012 10:45am
When it comes down to it Gold is REAL money.............

Plunging rial keeps up Gold hoarding in Iran

Quote
Analysts said Iran's present scenario is the most modern example to date of how when the only thing backing a fiat currency is confidence and when all confidence is lost, then the country's citizens better hold onto their hats, or protect their wealth with gold.

"TEHRAN(BullionStreet): As country's currency plunged to record lows against the dollar, volume of gold trading at Iran's Tehran exchange has surged almost 18 percent.

According to reports people in the Islamic Republic are frantically go for gold and are 'hoarding' whatever they could afford as authorities began cracking down unofficial forex markets in the country in order to restrict the availability of the US dollar, triggering worries of a dollar shortage.

Analysts said the demand for gold has been something which should be made note of while government continued to accuse individuals of “hoarding” gold and foreign currency."
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,127
  • Edited 11:30am Oct 8, 2012 11:19am | Edited 11:30am
Xtrade, Iran has to sell gold, to get food, machinery and so on. They need dollars and euro. Also India pays them gold for oil supply. Also Iran recently began mining few more gold mines. He has gold, but he is starving. So gold will go to smugglers, and they will sell this gold. And now imagine in comex one ounce real gold cover 100 ounces paper. And Iran has 300 tons. Even little of this pile will go to markets, it will push market down. USA also want this, because it's in USA interest. And a lot of people jumped in metals then Ben announced qe3. Too many jumped in. They must pay.
Also Russia began building new south Moscow. Putin plans to spend almost all gold reserves to this reason. Is he a fool?
Now I think gold mining cost is about 1300 dollars per ounce. It also depends from oil. And oil chart looks bearish. So we have month to elections. Stock market must go. Also now on gold chart we have daily trend and daily resistance in one place. Also descending triangle made his medium rise on weekly gold.
  • #21,128
  • Oct 8, 2012 11:48am Oct 8, 2012 11:48am
Quoting vaidas7777
Putin plans to spend almost all gold reserves to this reason.
where do you get such strange info?

as I know, Putin buys gold

http://www.shtfplan.com/precious-met...eaval_09102012
  • #21,129
  • Oct 8, 2012 12:15pm Oct 8, 2012 12:15pm
I watched russian tv then this project was discussed. There were hot arguing about that. One side said that m2 was directly dependant on gold reserves, and like in 2008 crisis gold saved russian bussines, as goverment guaranteed for all debtor businesses, which earlier took money wrom western banks.
Other side wants to build new Moscow. Of course 20 percent will go to big pockets as bribes, so that is almost robbery in the middle of the day of russian population, but russians always looked for masters... Project is already going

Putin buys gold from himself. Gold is produced in Russia quite cheaply and goes not to markets but to government disposal.
  • #21,130
  • Oct 8, 2012 1:06pm Oct 8, 2012 1:06pm
The point of the article I was expressing is that when things get down to the nitty gritty, after thousands of years, people still use GOLD as a means of trade / barter / money. BTW: I'm sure there is more gold in Iran than the world is aware of.....

Don't believe everything you read re: Putin - This will never happen.

No country will sell all of it's Gold unless there was some kind of dire emergency or repayment deal as in Greece repaying the EUZONE/IMF with gold which I don't see happening. Even so I would think they would not be left "goldless".

I am very confused about other things you are trying to articulate here.

There is no clear or decisive effect the election will have on the price of gold.

Next, I do not see any descending wedge on the weekly chart and will be posting one myself shortly.

If anything we have had a break of an even larger symmetrical triangle which 4 out of the past 5 times I traded them all broke bullish.

Quoting vaidas7777
Xtrade, Iran has to sell gold, to get food, machinery and so on. They need dollars and euro. Also India pays them gold for oil supply. Also Iran recently began mining few more gold mines. He has gold, but he is starving. So gold will go to smugglers, and they will sell this gold. And now imagine in comex one ounce real gold cover 100 ounces paper. And Iran has 300 tons. Even little of this pile will go to markets, it will push market down. USA also want this, because it's in USA interest. And a lot of people jumped in metals then Ben announced qe3....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,131
  • Oct 8, 2012 2:09pm Oct 8, 2012 2:09pm
I meant descending triangle, which continuation probability is about 70 percent.
  • #21,132
  • Oct 8, 2012 2:33pm Oct 8, 2012 2:33pm
2008+ to Present 0ct 8th 2012

Simple weekly channel with "blowout lines. Interesting how the origins I drew from match up perfectly with the last wave of price action and the current.

SMAs 50, 100, 200

EDIT: EVEN THE DOWNSLOPES are practically identical.
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 17.jpg Size: 192 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,133
  • Oct 8, 2012 2:54pm Oct 8, 2012 2:54pm
Quoting XTrade
2008+ to Present 0ct 8th 2012

Simple weekly channel with "blowout lines. Interesting how the origins I drew from match up perfectly with the last wave of price action and the current.

SMAs 50, 100, 200

EDIT: EVEN THE DOWNSLOPES are practically identical.
high volumes on jumps/rises. low volume on consolidations(currently that's what's been happening). trend is up so.... i am looking to buy. the longer the consolidation the higher the potential push towards the highs. i'm still keeping my lots low though so i can afford a wide range of stops.
  • #21,134
  • Oct 8, 2012 3:13pm Oct 8, 2012 3:13pm
Forex is just dead 90% of the time recently, Gold is only dead 30-40% of the time, so pretty much entirely moving over to gold for Chop and Trend plays and Dax just for Chop plays.


Made good pips on both today, so here is hoping.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #21,135
  • Oct 8, 2012 3:48pm Oct 8, 2012 3:48pm
I personally stopped with long positions per hour.

When I return to buy down the level of $ 1600.00 to 1650. (anyone doubts that these prices again in the future?). But with few business positions and keep for months.

If get to 1900, I will begin to open short positions, expecting the fall.

I do not believe that in an election year in the U.S. gold strength to get over the U $ 2,000.00.
  • #21,136
  • Oct 8, 2012 5:04pm Oct 8, 2012 5:04pm
Welcome Turveyd,

Plenty of action lately in gold especially on the lower TFs which you trade. Great swings on news as well.


XT-

Quoting Turveyd
Forex is just dead 90% of the time recently, Gold is only dead 30-40% of the time, so pretty much entirely moving over to gold for Chop and Trend plays and Dax just for Chop plays.


Made good pips on both today, so here is hoping.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,137
  • Oct 8, 2012 5:14pm Oct 8, 2012 5:14pm
Personally you are looking for what has already happened to happen again.

When what will likely happen is something else.

This market has been thin since the summer and has recently started (as usual) to pick up again in t typical September fashion, (home from vacation/holiday, kids back to school, people manning desks, etc.)

Others will be looking for gold to take out the old high not simply reverse there (@1900) and stay in a 300 USD range.
there likely will be some resistance, yet again it depends on the circumstances. That high has only been hit once and thus, is not a super strong resistance. If the price creeps up to the 1850's on one good day 1900 could easily be wiped and potentially flipped to support.

I'd expect stronger resistance @ 2000

As shown in my chart gold has broken topside the widened symmetrical triangle suggesting continuation of the uptrend.

The charts are bullish with potential for a minimal correction in the short term to occur.

Yet, don't be surprised if that does NOT happen.

Again, personally, if you had a good entry and a target of 1900 why not just keep it on. - "Let the winners ride and cut the losers short"

I don't see anything close to a 200 USD fall from flirting with 1800 to 1600. What is your reasoning here?

Maybe you'll get 1700.

Also 1600 was tested and tested and tested, for weeks the chart stayed in that range, not to mention the 100 week SMA is about there which has shown it's strength.

Quoting Albedo
I personally stopped with long positions per hour.

When I return to buy down the level of $ 1600.00 to 1650. (anyone doubts that these prices again in the future?). But with few business positions and keep for months.

If get to 1900, I will begin to open short positions, expecting the fall.

I do not believe that in an election year in the U.S. gold strength to get over the U $ 2,000.00.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #21,138
  • Oct 8, 2012 9:37pm Oct 8, 2012 9:37pm
here ya go !!

Quoting Rag2RichesFX
I wish someone could come up with an indicator in MT4 for XAUUSD:XAGUSD ratio

I have searched but could not find one myself

If anyone knows of one please let me know!
Attached File(s)
File Type: mq4 toyotoyo ratio.mq4   2 KB | 642 downloads
Life's a bitch....so be a dog and cover it!
  • #21,139
  • Oct 9, 2012 4:36am Oct 9, 2012 4:36am
Quoting vaidas7777
Seems to me gold will go down intentionally because of Iran. Near Iran there is all Nato navy with jet figters, aircraft carriers and so on. In near future Iran will make it's own training. Also right now Iranian rial has about 60 percent inflation rate monthly
Iran knew this and he has about 300 tons of gold. I suspect strongly, gold will go down. It also means, dollar will become stronger, but that was eliminated by qe3... So short is quite good strategy. I mean sometimes money could lie in front of you While ,,renegade'' will be ,,trained'',...

I don't quite follow your chain of thought but the uncertainty in that part of the world should be gold positive....

Also if you are claiming that if Iran sold it's supposed 300 tons of gold that that would end the bull run I think you are very wrong. Sovereign entities would be more than happy to scoop up that amount of gold before it reached the market. A quiet deal would suit the Iranians because it would not allow the paper shorts to use such news to push price down. Various sovereign entities would no doubt compete to purchase the gold and be happier to see this occur quietly away from the physical market....

IMHO

beeb
  • #21,140
  • Edited 7:55am Oct 9, 2012 7:54am | Edited 7:55am
  •  KADC
  • Joined Apr 2012 | Status: Be unreasonable. | 897 Posts | Online Now
An interesting graph from The Market Oracle indicating growing silver industrial usage. (Not that anyone should need further incentive to be long-term bullish for silver.)

http://www.marketoracle.co.uk/images...r-demand-2.jpg
You can always make money tomorrow provided you don't lose it today.
63 traders viewing now