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

  • #4,561
  • Apr 12, 2011 9:42am Apr 12, 2011 9:42am
Quoting six gun
I thought the prophet said it would be $41.22
Yeah, spazzy thing to say. Only another 100 pips to go...but hey with silver I could be laughing on the other side of my face.
  • #4,562
  • Apr 12, 2011 9:42am Apr 12, 2011 9:42am
Quoting Euroscum
boyaaa, hows the longs guys?
LOL... Good question, forgot to ask it myself...
  • #4,563
  • Apr 12, 2011 9:44am Apr 12, 2011 9:44am
Quoting harvest3r
.

I caught a long at 1445 and cost-averaged with the higher ones. The long at 1450 will stay, but locked at BE. Let see if it survives...
My brother had a buy order there too and by the size of that huge pin, I guess a lot of others had too.
  • #4,564
  • Apr 12, 2011 9:52am Apr 12, 2011 9:52am
We will see a lower price for Gold by London close today methinks...
  • #4,565
  • Apr 12, 2011 9:52am Apr 12, 2011 9:52am
Quoting Fmfx
Agree and the correction might continue for a few more days
Any valid reasons for your prediction..?
  • #4,566
  • Apr 12, 2011 9:54am Apr 12, 2011 9:54am
Quoting XTrade
It's funny how you get excited when the price moves $20 bucks over two sessions off a record high.
Actaully $30 to the bottom of that pin I guess a bit premature but the buyers are not too sure of themselves now though. This time last week the green candle would be flying up now.
  • #4,567
  • Apr 12, 2011 9:56am Apr 12, 2011 9:56am
I consider it note-worthy to state that I tried posting the low that silver would make but couldn't get through because of connectivity challenges.
Lets keep this off records anyway, the level to have bought silver from was 39.97
Its off records anyway.
Just to know that I ain't trying to find excuses you can check the 53 period ATR for silver on daily tf, mine shows me $1.05 price differential. Already today we had seen $1.03 price differential to the upside, so we could very well have started looking for opportunities to sell.
The high of 41.22 still holds but please remember that it is a rising channel and could get a little variation to the upside from what I quoted.
Happy trading!
Meshach

For the records, buy GU @ 1.6260
  • #4,568
  • Apr 12, 2011 10:00am Apr 12, 2011 10:00am
Quoting forexcompoun
I consider it note-worthy to state that I tried posting the low that silver would make but couldn't get through because of connectivity challenges.
Lets keep this off records anyway, the level to have bought silver from was 39.97
Its off records anyway.
Just to know that I ain't trying to find excuses you can check the 53 period ATR for silver on daily tf, mine shows me $1.05 price differential. Already today we had seen $1.03 price differential to the upside, so we could very well have started looking for opportunities to sell.
The high...
I would quit while you losing Gordon.
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  • #4,569
  • Apr 12, 2011 10:01am Apr 12, 2011 10:01am
One of the best barometers of the USD is the USD/CHF pair which is making new lows. It just plowed through a major support at 8985. On the way to 8500.

Another 100 pips on Gold would be a 1 USD move.
Silver is still at 40. Again no idea what you are trying to say.

Kiwi has made a 100% retracement from the dip of the earthquake.
I would not be surprised to see the pair test old high of 7960.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,570
  • Apr 12, 2011 10:07am Apr 12, 2011 10:07am
It WOULD BE more impressive to hear from some of you

" I Bought Silver at 30 USD and Just Sold AT 40 USD"

rather than

" Yippee a commodity made a record high and I scalped it for 2 bucks of the high"
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,571
  • Apr 12, 2011 10:14am Apr 12, 2011 10:14am
Gold lowest so far 1443, silver 39.77...

From 1476, it has been a 33 dollar correction and still going...
  • #4,572
  • Apr 12, 2011 10:15am Apr 12, 2011 10:15am
Quoting Pratik
Any valid reasons for your prediction..?
Well, pure specalution if you will... But you see it has not been far off since my very first post.
  • #4,573
  • Apr 12, 2011 10:19am Apr 12, 2011 10:19am
Quoting XTrade
It WOULD BE more impressive to hear from some of you

" I Bought Silver at 30 USD and Just Sold AT 40 USD"

rather than

" Yippee a commodity made a record high and I scalped it for 2 bucks of the high"

Ok, I sold at 40, I will let you know how I am doing at 30
  • #4,574
  • Apr 12, 2011 10:35am Apr 12, 2011 10:35am
i really dont know why people(bulls & bears) take it personally on the price directions
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #4,575
  • Apr 12, 2011 10:41am Apr 12, 2011 10:41am
Quoting XTrade
One of the best barometers of the USD is the USD/CHF pair which is making new lows. It just plowed through a major support at 8985. On the way to 8500........
Look back to 3/17/11 on a daily chart.
  • #4,576
  • Apr 12, 2011 10:42am Apr 12, 2011 10:42am
@highlander and sixgun,

thanks for the insights. Yes, to use the pin bar along the trend is much safer than a counter-trade.

Sixgun: talking about counter-trade not being good, that's something I just read in another thread today. Guess which? The James16 one . It's interesting to see how the dots connect. That thread is really famous, I saw it already in the past. And someone on that thread was speaking specifically about the daily pin bars, like Highlander. It seems to be a good strategy. I will give it a try with some spare EUR 10 in the future
"The reason I was born and came into the world is to testify to the truth."
  • #4,577
  • Apr 12, 2011 10:44am Apr 12, 2011 10:44am
Quoting blue_z_zz
i really dont know why people(bulls & bears) take it personally on the price directions
I think it's derived from the football spirit. It's called fanaticism
"The reason I was born and came into the world is to testify to the truth."
  • #4,578
  • Apr 12, 2011 11:37am Apr 12, 2011 11:37am
Gold and silver prices were falling Tuesday as oil prices fell and as investors took advantage of recent highs to lock in profits.

Gold for June delivery was down $15.40 to $1,452.70 an ounce at the Comex division of the New York Mercantile Exchange. Gold has traded as high as $1,468.50 and as low as $1,445; the spot gold price was flat, according to Kitco's gold index.

Silver prices were sliding 59 cents to $40.02 an ounce after Bloomberg reported Monday that an options trader holds a $1 million bet that the iShares Silver Trust (SLV) will fall 37% by July. Currently 22.6 million shares of the silver ETF are sold short.

According to Anthony Neglia of Tower Trading, the metals were getting bullied by Goldman Sachs (GS). The investment firm issued a note Monday urging clients to sell commodities to lock in profits, noting that the broad rally might not last as high oil prices eat into demand. All commodities were taking a hit Tuesday -- oil prices were down almost $4 -- especially after mixed earnings from Alcoa (AA).

http://money.msn.com/market-news/pos...b-8603ead7acf8
The Black Swan: The Impact of the Highly Improbable
  • #4,579
  • Apr 12, 2011 12:02pm Apr 12, 2011 12:02pm
Quoting MapleLeaf
Gold and silver prices were falling Tuesday as oil prices fell and as investors took advantage of recent highs to lock in profits.

Gold for June delivery was down $15.40 to $1,452.70 an ounce at the Comex division of the New York Mercantile Exchange. Gold has traded as high as $1,468.50 and as low as $1,445; the spot gold price was flat, according to Kitco's...
Nobody to blame really just an overdue correction which is not completed yet. 1430 is now on horizon...

P.S. I think we reached 1445 or possibly lower today at some point.
  • #4,580
  • Apr 12, 2011 12:20pm Apr 12, 2011 12:20pm
Looking to see a close over 1448 today (the late March high). Did anyone note how an abcd got the exact low to within a few cents?

Am long with stops above b/e

beeb
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