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

  • #24,721
  • Aug 27, 2013 11:09pm Aug 27, 2013 11:09pm
Quoting The Fool
{quote} Black Gold. (USO) Was up $1.16 today. Last 5 days up up up. Maybe straddle time? USO closed today at $39.14. Will watch for a higher close tomorrow. Sep 21 $41/$37 @ ($0.37/$0.30) $0.67 + comms. Oct 19 $42/$37 @ ($0.49/$0.68) $1.17 + comms. ....will watch for entries on expected gains tomorrow.... Either one could pay off in one day.
Wow USO. Haven't played that in a while. My very first options and oil action, fond memories! I think so. On the weekly for WTI, crude looks to hit a double top near 114-115. I will play it till there and wait for a potential break. In brent as well, it's getting to double top range on the daily.

I am looking for 112 for WTI and 118 on brent today. Equity futures already getting eaten up.

I loved when people would moan about gas prices and I would just look at them and say "well, do something about it" lol
When the facts change I change my mind, what do you do sir
  • #24,722
  • Aug 27, 2013 11:10pm Aug 27, 2013 11:10pm
Quoting The Fool
{quote} Oct futures pushing $111.50 overnight.
Should see European/US traders pushing it up.
When the facts change I change my mind, what do you do sir
  • #24,723
  • Aug 27, 2013 11:21pm Aug 27, 2013 11:21pm
Quoting Pip Anon
{quote} Should see European/US traders pushing it up.
SocGen predictions of $125 - $150 Brent yearend woohoo!?! (grain o salt)....nevertheless: Opportunity. I want some meat on the spit just in case the world catches fire. I'll probly get in that straddle tomorrow, hard to lose with this much volatility....

I am also heavily short US equities through SDS calls, etc....expect the USD to get stronger in a hurry if ts really htf....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #24,724
  • Aug 27, 2013 11:23pm Aug 27, 2013 11:23pm
Quoting The Fool
{quote} SocGen predictions of $125 - $150 Brent yearend woohoo!?! (grain o salt)....nevertheless: Opportunity. I want some meat on the spit just in case the world catches fire. I'll probly get in that straddle tomorrow, hard to lose with this much volatility.... I am also heavily short US equities through SDS calls, etc....expect the USD to get stronger in a hurry if ts really htf....
Yea. I just looked at VIX futures. $50 a tick. Christ by year end I might retire early
When the facts change I change my mind, what do you do sir
  • #24,725
  • Aug 27, 2013 11:47pm Aug 27, 2013 11:47pm
Quoting XTrade
{quote} Archer, If you can please try and instill the Time Frame or "TF" to the noobs, with your charts. It looks like you have a daily off of netdania, don't care where they come from, But, if I can help I need to see what U see.
err .. i don't get what u mean .... the timeframe is at the top of the chart .
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  • #24,726
  • Aug 27, 2013 11:51pm Aug 27, 2013 11:51pm
Gold long at 1416 looking nice. TP 1425
When the facts change I change my mind, what do you do sir
  • #24,727
  • Aug 28, 2013 12:06am Aug 28, 2013 12:06am
Gentlemen and Ladies ,

Let's focus ... let's not stray ... this thread is about Gold/Silver ... let's stick to subject .
  • #24,728
  • Aug 28, 2013 12:30am Aug 28, 2013 12:30am
Quoting TheArcher
Gentlemen and Ladies , Let's focus ... let's not stray ... this thread is about Gold/Silver ... let's stick to subject .
Agreed.

Everyone, please nix further oil conversations. There are other threads for that.
You can always make money tomorrow provided you don't lose it today.
  • #24,729
  • Edited 2:16am Aug 28, 2013 12:53am | Edited 2:16am
Quoting Pip Anon
Gold long at 1416 looking nice. TP 1425
I added at $1414 and was looking for $1424 (now breached), but per the rules, please post your analysis, not just your calls.

In my case adding was because of hourly and 5-minute RSI trend line support and the target is trend line and Fibonacci. (Added fork-based trend channel to previous daily chart [in purple].)

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Update: "Next target" of $1433 was hit, stop was moved up to $1425 (which was ignored which is why I hate eMicros -- switching to full future positions on after the next downleg.)

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[Correction: RSI caption on 5-minute chart should say bought on 3rd test of RSI support as obviously 2nd test is what generates the trend line. ]
You can always make money tomorrow provided you don't lose it today.
  • #24,730
  • Aug 28, 2013 2:01am Aug 28, 2013 2:01am
Quoting TheArcher
{quote} which lower timeframe , 5min, 15min, 30min or 1hr ?

Usually from 5-15 timeframe and not looking to get 50-100 pips. Sometimes 1hr also if there is a small resistance zone that I can place my stop near my entry.
  • #24,731
  • Aug 28, 2013 2:08am Aug 28, 2013 2:08am
Gold managed to break through 1423 resistance level today. Next level to watch is 1.1440.
I think we will retrace a bit before next move higher.
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  • #24,732
  • Aug 28, 2013 3:47am Aug 28, 2013 3:47am
back test finished, silver target now 13,5-13,1 dolars
buy at 13,1 and sell at 17,6
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  • #24,733
  • Aug 28, 2013 5:26am Aug 28, 2013 5:26am
Quoting Scalptastic
I may short from resistance zones if I get reversal signals.
Quoting TheArcher
{quote} for knowledge sake, care to share what your " reversal signals " are ? thanks .
Quoting Scalptastic
{quote} Basic candle reversal signals on lower timeframes.
Quoting Scalptastic
{quote} Usually from 5-15 timeframe and not looking to get 50-100 pips. Sometimes 1hr also if there is a small resistance zone that I can place my stop near my entry.

thanks , something to enshrine .

which are the " basic candles reversal signals " you would look out for ?
  • #24,734
  • Aug 28, 2013 6:01am Aug 28, 2013 6:01am
Quoting TheArcher
{quote} {quote} {quote} {quote} thanks , something to enshrine . which are the " basic candles reversal signals " you would look out for ?

PM
  • #24,735
  • Aug 28, 2013 8:44am Aug 28, 2013 8:44am
Stupid spike down on stupid Goldman Sachs' comments cost me $1,000 profit because of these stupid eMicros and their stupid lack of trade volume. I thought everyone knew to do the opposite of whatever Goldman Sachs' says by now -- it is always misdirection to put the market in a better position to benefit themselves.

Oh well. Buying opportunity once the sell-off ends I suppose, and no more eMicros for me.
You can always make money tomorrow provided you don't lose it today.
  • #24,736
  • Aug 28, 2013 8:58am Aug 28, 2013 8:58am
Quoting KADC
Now, of course, war trumps technicals, so if the U.S. decides to go Bush, pullback or not, oil will rise.
It already has - at a 6 month high.

More than likely if war happens it will drop.

The dollar and bonds will probably rise.

That's the usual scenario.
  • #24,737
  • Aug 28, 2013 9:02am Aug 28, 2013 9:02am
Quoting XTrade
@ SunTrader, hope you will post again.I have posted my reasonings, over the past two weeks.If you want to hear further fundamentals then please ask and I will gladly give post more.........
Nothing really has changed really.

IMO correction to downtrend is still playing out.

New lows to follow.

But as far as fundamentals I only see those posted which confirm a bullish scenario. Anything bearish isn't spoken here.
  • #24,738
  • Aug 28, 2013 9:10am Aug 28, 2013 9:10am
A pullback to $1403, the 61.8% of the last hourly chart I posted, would make me very happy but I'm not counting on it. So far the reaction looks like knee-jerk autotrading -- there does not seem to be any follow through. Hourly RSI turned at 50 and 5-minute MACD on verge of indicating return to the upside as humans now evaluate the situation.
You can always make money tomorrow provided you don't lose it today.
  • #24,739
  • Aug 28, 2013 9:11am Aug 28, 2013 9:11am
Quoting SunTrader
{quote} Nothing really has changed really. IMO correction to downtrend is still playing out. New lows to follow. But as far as fundamentals I only see those posted which confirm a bullish scenario. Anything bearish isn't spoken here.
To start, you have been right many times so i am asking with a genuine interest. What are your technical reasons? 20% rise is supposed to indicate a bull market, no?
  • #24,740
  • Aug 28, 2013 9:17am Aug 28, 2013 9:17am
I added long XAG/USD 24.380
TP: 24.90

pending longs:
24.50
24.70
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