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

  • #5,081
  • Apr 24, 2011 6:15am Apr 24, 2011 6:15am
Quoting beeb
It's worth remebering that London (which dominates the precious metals market ) will be closed Monday and Friday this week and the Monday of the following week,,,,,

beeb
http://www.year-planner-calendar.wan...c-holidays.htm
  • #5,082
  • Apr 24, 2011 7:51am Apr 24, 2011 7:51am
Interesting youtube channel here on silver.

Inserted Video
  • #5,083
  • Apr 24, 2011 10:09am Apr 24, 2011 10:09am
This is pure gold (or should I say silver)

Inserted Video
  • #5,084
  • Apr 24, 2011 10:58am Apr 24, 2011 10:58am
So why is now everybody talking about retracement, support, 1430, 1440, etc?
  • #5,085
  • Edited 2:04pm Apr 24, 2011 1:37pm | Edited 2:04pm
Quoting Fmfx
So why is now everybody talking about retracement, support, 1430, 1440, etc?
I dont know but Im with the trend and looking at the weekly chart my bias is up from 1481 and looking at the daily, up from 1498-1503.
weekly
1523
1481
1439
mon. daily
1515
1498-1503
1481
silvr weekly
48.30
43.77
39.24
mon. day
47.30-55
45.75 with eye on 44.27
42.92
http://www.zerohedge.com/article/chi...n-usd-holdings
I think were getting the hang of this game
http://dont-tread-on.me/wp-content/u...poly_Press.jpg
http://dont-tread-on.me/and-now-for-...-no-inflation/
  • #5,086
  • Edited 2:51pm Apr 24, 2011 1:44pm | Edited 2:51pm
Quoting beeb
here's a 240 min GC with a couple of duelling forks using the same coordinates. There is also an abcd which is perhaps providing resistance.....


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


beeb
nice lines, 1477-79 area noted.
  • #5,087
  • Apr 24, 2011 3:01pm Apr 24, 2011 3:01pm
WTF!

Silver opened at $47.11
  • #5,088
  • Apr 24, 2011 3:09pm Apr 24, 2011 3:09pm
open with spread 80pips and now low to 30pips
  • #5,089
  • Apr 24, 2011 4:00pm Apr 24, 2011 4:00pm
Hi Six-Gun,

Gotta add this one to the mix . Let's see if the teal U-MLH or WL can get sellers involved. Added some history to this chart view.

FX4
Attached Image (click to enlarge)
Click to Enlarge Name: xagusd apr 24-11.gif Size: 20 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #5,090
  • Apr 24, 2011 4:10pm Apr 24, 2011 4:10pm
Quoting FX4Newbies
Hi Six-Gun,

Gotta add this one to the mix . Let's see if the teal U-MLH can get sellers involved.
Who is going to sell into this market?

I have a 20 minute fork and price shot right up to the upper warning line within 1 hour of the open. Price is sitting just on top of this line now.
This fork had contained price since 14th April.

The minute there is any sell off there will be willing buyers there to load up with more of the shiny stuff.
  • #5,091
  • Apr 24, 2011 4:18pm Apr 24, 2011 4:18pm
Quoting six gun
WTF!

Silver opened at $47.11
lets see how 47.56 area responds, also 1512-15.
  • #5,092
  • Apr 24, 2011 4:41pm Apr 24, 2011 4:41pm
Quoting six gun
Who is going to sell into this market?

I have a 20 minute fork and price shot right up to the upper warning line within 1 hour of the open. Price is sitting just on top of this line now.
This fork had contained price since 14th April.

The minute there is any sell off there will be willing buyers there to load up with more of the shiny stuff.
I wouldn't unless this thing really started showing signs of weakness. Don't see that here. Even the fork I posted a few days ago here on gold...price found support at SH and blasted upward.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #5,093
  • Apr 24, 2011 4:48pm Apr 24, 2011 4:48pm
Quoting lilpip
lets see how 47.56 area responds, also 1512-15.
I don't think gold has anywhere to go but 1520.

I have a 4H gold chart.
The pivots are different to beebs.
But on this price has nowhere to go but 1520 now it has gapped up like it has.
Attached Image (click to enlarge)
Click to Enlarge Name: gc240.PNG Size: 36 KB
  • #5,094
  • Apr 24, 2011 5:09pm Apr 24, 2011 5:09pm
Quoting six gun
I don't think gold has anywhere to go but 1520.

I have a 4H gold chart.
The pivots are different to beebs.
But on this price has nowhere to go but 1520 now it has gapped up like it has.
All I can say is that it will go up until it starts coming down...per Newton...an object will continue in a state of motion (or rest) until....something happens to change it.

So, the market is bullish until...further notice from price action?

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #5,095
  • Apr 24, 2011 5:24pm Apr 24, 2011 5:24pm
Who was that guy in Reminisces of a stock operator that kept saying:

"It's a bull market."
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,096
  • Apr 24, 2011 5:28pm Apr 24, 2011 5:28pm
Quoting LasVahGoose
Who was that guy in Reminisces of a stock operator that kept saying:

"It's a bull market."
Old Turkey would cock his head to one side, contemplate his fellow customer with a fatherly smile, and finally he would say very impressively, "You know, it's a bull market!"
  • #5,097
  • Edited 5:43pm Apr 24, 2011 5:28pm | Edited 5:43pm
I don't know if folks here go the the Thread by Jay Walker called The Video Store, there are some recent videos on silver that are very interesting.

Bob Chapman made a great point about, why would there be any resistance at $50? The average investor in 1980 was 55 years old and 40 years later these people are probably dead and if they were alive, would they really have waited 40 years to get out of their silver positions?

Interesting outside the box thinking. We'll have to see how it pans out, but I think we are going to blow through 50 no problem.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,098
  • Apr 24, 2011 5:29pm Apr 24, 2011 5:29pm
Quoting six gun
Old Turkey would cock his head to one side, contemplate his fellow customer with a fatherly smile, and finally he would say very impressively, "You know, it's a bull market!"
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,099
  • Apr 24, 2011 5:51pm Apr 24, 2011 5:51pm
Quoting LasVahGoose
I don't know if folks here go the the Thread by Jay Walker called The Video Store, there are some recent videos on silver that are very interesting....
The Hunt price spike is of historical interest. Let's go for the spike in price during the Middle Ages.
If you factor in inflation it is nearer $100 than $50 and the situation in the world now is quite different.

The two reasons for a pull back at $50 is it is a big round number and is a mental target to reach. Plus we have not had any meaningful pull back in price, the $42, $2 hiccup was over within the week.

Having said all this, as I pointed out earlier who is going to sell into this market?
It would only be profit taking and why $50 is a psychological point to do that.
  • #5,100
  • Apr 24, 2011 6:20pm Apr 24, 2011 6:20pm
Price might just be rolling over a microdot.

Some super comments on zerohedge.com - pure silver.

http://www.zerohedge.com/article/jp-...theorists-abso

"Benny could print 500 quintillion dollars, but he can't produce enough silver to cover those shorts.

Sorry mate, silver can't be conjured, and it's all gone."
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