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

  • #39,701
  • Edited 8:49am Feb 17, 2017 8:22am | Edited 8:49am
XAUUSD 1H Chart:
[Best Wave Count I can see]
Short 1241.5
TP 1198 [161.8% projection of Wave [a] Yellow].
Cheers,
U2
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD 170217 1H [1].png Size: 38 KB
Wait, or you will be slaughtered!
  • #39,702
  • Edited 8:47am Feb 17, 2017 8:32am | Edited 8:47am
XAUUSD 6H Chart:
1244.84 was the top?
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD 170217 6H [1].png Size: 28 KB
Wait, or you will be slaughtered!
  • #39,703
  • Feb 17, 2017 8:44am Feb 17, 2017 8:44am
@4:30 PM EST , will take partial profits$ - keep 6 pos. = hav many hungry lil kids to feed !
da n0o0b + $hit_Disturber
  • #39,704
  • Feb 17, 2017 8:57am Feb 17, 2017 8:57am
Observation:
Looks to be unlimited Supply at 1242.5
Cheers, U2
Wait, or you will be slaughtered!
  • #39,705
  • Feb 17, 2017 9:11am Feb 17, 2017 9:11am
Quoting Uturn2
Observation: Looks to be unlimited Supply at 1242.5 Cheers, U2
well, could you please elaborate unlimited supply at 1242.5? what does it mean and what will be the impact on market? will it go long or short in such case???
  • #39,706
  • Edited 9:46am Feb 17, 2017 9:24am | Edited 9:46am
Hi,
It simply means that Strong Supply is meeting Demand at that level.
Perhaps a very large Seller, or group of Sellers,
are cashing in their Longs, and loading up Short?
Cheers, U2
[Edit 2]
Wait, or you will be slaughtered!
  • #39,707
  • Feb 17, 2017 9:38am Feb 17, 2017 9:38am
Quoting Uturn2
Hi, It simply means that Supply is meeting Demand at that level. Perhaps a very large Seller, or group of Sellers, are loading up Short? Cheers, U2
-------
he still likes$ to know from u = long or short
da n0o0b + $hit_Disturber
  • #39,708
  • Feb 17, 2017 11:43am Feb 17, 2017 11:43am
FWIW =
Attached Image (click to enlarge)
Click to Enlarge Name: green.png Size: 217 KB
da n0o0b + $hit_Disturber
  • #39,709
  • Edited 1:02pm Feb 17, 2017 12:43pm | Edited 1:02pm
Im short gold 1231 + 1243 (and long usdjpy 112.84). I see double-top 1244 area so moved my SL to 1245. I can't remember last time I lost a trade so it will work Im 51% sure it will go down
Charts: XAUUSD/UJ/EU. Tools: stoch/daily pivots/fibo/channels. Scalper.
  • #39,710
  • Feb 17, 2017 1:28pm Feb 17, 2017 1:28pm
Quoting Uturn2
Hi, It simply means that Strong Supply is meeting Demand at that level. Perhaps a very large Seller, or group of Sellers, are cashing in their Longs, and loading up Short? Cheers, U2 [Edit 2]
There was no big volume at this price. Maybe just limited demand..
Attached Image (click to enlarge)
Click to Enlarge Name: gold-futures.png Size: 80 KB
  • #39,711
  • Feb 17, 2017 3:05pm Feb 17, 2017 3:05pm
Quoting pipsy7
FWIW = {image}
  • #39,712
  • Feb 17, 2017 4:04pm Feb 17, 2017 4:04pm
Quoting pipsy7
FWIW = {image}
Absolutely.

In fact all our financial problems and "crisis" would stop almost overnight if we simply suppress paper money and replace it with gold.

Why?

Because nobody can create gold out of thin air, like we do with paper money.

But then, no more Forex trading of course...
  • #39,713
  • Feb 17, 2017 4:09pm Feb 17, 2017 4:09pm
Quoting Uturn2
XAUUSD 1H Chart: [Best Wave Count I can see] Short 1241.5 TP 1198 [161.8% projection of Wave [a] Yellow]. Cheers, U2 {image}
Correction eminent?
Closed at 1235.5 [+6]
Will look to enter Short again next week.
Cheers, U2
Wait, or you will be slaughtered!
  • #39,714
  • Feb 17, 2017 4:50pm Feb 17, 2017 4:50pm
Quoting Uturn2
Will look to enter Short again next week.
I do not trade Gold anymore but here is my analysis on gold spot on the 1h chart.
As you can see there was a breakout to the downside from the ascending channel (see chart below).

However, it is now almost certain that this breakout has failed, so long positions should be favored...

Just my opinion, please trade at your own risk.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 239 KB
  • #39,715
  • Feb 17, 2017 5:37pm Feb 17, 2017 5:37pm
Just snap a finger and use gold so all the world's financial problems will be gone LMAO.
  • #39,716
  • Edited 6:32pm Feb 17, 2017 6:12pm | Edited 6:32pm
Quoting SunTrader
Just snap a finger and use gold so all the world's financial problems will be gone LMAO.
LMAO, eh?

You my friend still have a lot to learn, obviously.

When people exchanged goods and services for gold (and silver), centuries ago, inflation was at almost zero.

Then these so called central banks (the US "Federal Reserve" Bank included) started to print money out of nothing.

For example, since the Fed was created in 1913, the U.S. Dollar has lost 98% of its value, due to inflation!

Of course what they don't tell you on TV or economics books in high school or college is that inflation is the direct result of printing money out of thin air.

Watch this video for example and let's see if you are still laughing.

Inserted Video
  • #39,717
  • Feb 17, 2017 7:26pm Feb 17, 2017 7:26pm
Quoting Mr Breakout
{quote} LMAO, eh? You my friend still have a lot to learn, obviously. When people exchanged goods and services for gold (and silver), centuries ago, inflation was at almost zero. Then these so called central banks (the US "Federal Reserve" Bank included) started to print money out of nothing. For example, since the Fed was created in 1913, the U.S. Dollar has lost 98% of its value, due to inflation! Of course what they don't tell you on TV or economics books in high school or college is that inflation is the direct result of printing money out of...
Oh I've been laughing for decades at all you tinfoilhat permabulls. Gold is the biggest scam ever. Doesn't stop from trading and making money though.

Money that the stores take - and will always take. Not Gold coins, ingots, bars. Ridiculous.
  • #39,718
  • Feb 17, 2017 7:57pm Feb 17, 2017 7:57pm
Quoting SunTrader
{quote} Oh I've been laughing for decades at all you tinfoilhat permabulls. Gold is the biggest scam ever. Doesn't stop from trading and making money though. Money that the stores take - and will always take. Not Gold coins, ingots, bars. Ridiculous.
Gold would be worth a small fraction of it's current price if not considered a currency.
For now though it's still seen as a means to store wealth.
I'm not a gold bull/bear, just see it for what it is.
IF china decides to make gold more important in the currency "system" then it could increase in value.
IF the SDR becomes the reserve currency then the almighty US dollar could lose value also just like gold if not considered a "safe" storage of wealth.
For those talking gold worth tens of thousands $ per ounce, IMHO that's crazy because they're trying to relate the price to the time before the printing presses went into overdrive so now want to see gold backing all the new currency printed. Wars would be fought over gold if the price were too high.

$100 bills are just a fancy cotton paper with special ink too so how much value if not "perceived" as having "value"?
Currency is just debt & everyone hopes the IOUs hold value until they pass it on to the next "debt holder".
  • #39,719
  • Edited Feb 18, 2017 11:29am Feb 17, 2017 8:12pm | Edited Feb 18, 2017 11:29am
Quoting srt
$100 bills are just a fancy cotton paper with special ink... Currency is just debt & everyone hopes the IOUs hold value until they pass it on to the next "debt holder".
Always a real pleasure to read such comments.

And of course the debt holders you mentioned are just us, our children, and their children too.

It's an almost never ending vicious circle, unfortunately.

www.youtube.com/watch?v=iFDe5kUUyT0
  • #39,720
  • Feb 17, 2017 9:02pm Feb 17, 2017 9:02pm
Quoting Mr Breakout
{quote}
...
When people exchanged goods and services for gold (and silver), centuries ago, inflation was at almost zero.
...
Wrong. Inflation was noticed in ancient world. Also you can do a search for "price revolution" of 15th - 17th century.
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