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

  • #5,141
  • Apr 25, 2011 6:17am Apr 25, 2011 6:17am
usdx shitting and gold may continue extention further, though apparently the wave ended, some retracement taken place,no believe till 1508.77 & or 1497.76 intact perhaps .

usdx : http://www.forexfactory.com/showpost...stcount=427770

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #5,142
  • Apr 25, 2011 6:25am Apr 25, 2011 6:25am
Quoting fontu
usdx shitting and gold may continue extention further, though apparently the wave ended, some retracement taken place,no believe till 1508.77 & or 1497.76 intact perhaps .

usdx : http://www.forexfactory.com/showpost...stcount=427770

fontu
im seeing the same, 1498 as daily trend guide with eye on 1503.
  • #5,143
  • Edited 6:39am Apr 25, 2011 6:26am | Edited 6:39am
silvr news
http://www.zerohedge.com/article/chi...n-usd-holdings

http://kingworldnews.com/kingworldne...Over_$100.html

bounce from daily highs rea 47.56 to weekly highs 48.38 noted.
  • #5,144
  • Apr 25, 2011 6:38am Apr 25, 2011 6:38am
Perhaps he is referring to all the bank Holidays----------

Thinking Gold wants to close this Gap.


I have a few small gaps and then the one from Sunday open.

I am setting orders for 1504 appx
Left one gap trade on. I had 2 open positions from around 1504 I left on and traded the Gap. They were closed this morning.

My spreads are not yet back to normal

I am looking at appx a $1.10 for Gold - it should be 50 cents.

This has directly to do with London being closed.

Quoting beeb
Good, so you know that the bulk of precious metals trading takes place in London (Closed). Does this tell you something about volume?

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,145
  • Apr 25, 2011 6:41am Apr 25, 2011 6:41am
Here are my gaps.

Some brokers may be different.

Beeb, if you are there would you mind posting the large contract GC chart 1 Hour TF please. I want to compare the futures to spot.
THX!

PS the top TL is the top of a channel I pulled - actually a FORK.

notice how the price has been bobbing around the top
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,146
  • Apr 25, 2011 6:42am Apr 25, 2011 6:42am
Quoting lilpip
silvr news
http://www.zerohedge.com/article/chi...n-usd-holdings

http://kingworldnews.com/kingworldne...Over_$100.html

bounce from daily highs rea 47.56 to weekly highs 48.38 noted.


When asked at what price the Chinese will stop buying silver the London source replied, “The Chinese want out of dollars and they will continue aggressively purchasing both gold and silver in order to diversify. They don’t care whether silver is $50, $60 or $100, they will just continue accumulating. The Chinese may be patient buyers, accumulating on weakness, but you can bet that their relentless purchases of physical silver will eventually push the price well over $100 an ounce.”


hmm, interesting source. I am seeing pump stuff like this everywhere now. Well I have been seeing it for 2 months but now it is just nuts the amount of material that is bringing in more buyers.
  • #5,147
  • Apr 25, 2011 6:43am Apr 25, 2011 6:43am
Bought silver at 47.85 & 48.27, looking for $50/oz
  • #5,148
  • Apr 25, 2011 6:49am Apr 25, 2011 6:49am
Quoting XTrade
Here are my gaps.

Some brokers may be different.

Beeb, if you are there would you mind posting the large contract GC chart 1 Hour TF please. I want to compare the futures to spot.
THX!

PS the top TL is the top of a channel I pulled - actually a FORK.

notice how the price has been bobbing around the top

60min GC as requested .....
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  • #5,149
  • Apr 25, 2011 6:50am Apr 25, 2011 6:50am
The recent PA has formed somewhat of a TL even with the Gaps.

Thus I may take 1507. I'd like a lower price for entry but wont nitpick.

core positions still in play.

Today is still a bit odd of a day to trade with all of EUROzone and UK closed.

trade light.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,150
  • Apr 25, 2011 6:52am Apr 25, 2011 6:52am
Great ! Thanks - so basically the same Gap ...

Hmmm. It will be interesting to see how the price reacts at Gap close/.
Quoting beeb
60min GC as requested .....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,151
  • Apr 25, 2011 6:54am Apr 25, 2011 6:54am
Quoting JeremyWS
Bought silver at 47.85 & 48.27, looking for $50/oz
hope you had a stop loss, feck!
  • #5,152
  • Apr 25, 2011 6:55am Apr 25, 2011 6:55am
Here's a snap of the fork, if price tests lower I am looking at

1496 and 1481 for entries.....
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,153
  • Apr 25, 2011 6:56am Apr 25, 2011 6:56am
it will settle @40 after FED announce no QE3 and end of QE2 on wednesday
  • #5,154
  • Edited 7:15am Apr 25, 2011 6:58am | Edited 7:15am
i'm very wary of low volume days and we still have a number ahead of us through the month end......Today, Friday and next Monday are all London Bank Holidays.
I appreciate many here are North American based but it is important to recognise that the precious metals markets are not US-centric ie what happens elsewhere is important......

beeb
  • #5,155
  • Apr 25, 2011 6:59am Apr 25, 2011 6:59am
Quoting ziko123
it will settle @40 after FED announce no QE3 and end of QE2 on wednesday
Is this unsupported assertion or do you have some information you wish to share with us?



beeb
  • #5,156
  • Apr 25, 2011 7:02am Apr 25, 2011 7:02am
Could any veteran please explain what is meant by "close the gap"?

Thanks.
  • #5,157
  • Apr 25, 2011 7:03am Apr 25, 2011 7:03am
US homes sales, OK. Yet at HISTORIC LOWS thus they are CRAP!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5,158
  • Apr 25, 2011 7:03am Apr 25, 2011 7:03am
Quoting ziko123
it will settle @40 after FED announce no QE3 and end of QE2 on wednesday

Now that would be USD positive and commod negative.

I cannot believe bernake will want to trash the dollar more this week. I am looking to go long USD finally.
  • #5,159
  • Apr 25, 2011 7:05am Apr 25, 2011 7:05am
Quoting Wile E
Could any veteran please explain what is meant by "close the gap"?

Thanks.
When your platform and broker stop quoting this does not mean the market stops.
Trading still continues albeit at a much lower level.
When the "market" reopens the price has moved from where it was when your platform and broker was quoting.
So there is a gap.

If the opening price is higher for example than at the close, price will often move downwards to close this gap.
Not all gaps are closed but they usually are.
  • #5,160
  • Apr 25, 2011 7:08am Apr 25, 2011 7:08am
Next for the US>???
http://area224.com/wp-content/upload...09_Obverse.jpg
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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