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

  • #1,641
  • Oct 19, 2010 2:24pm Oct 19, 2010 2:24pm
Quoting fawaol
Looks like falling deeper?
The next firm level i see is 22.30
Price has touch ~1328.
  • #1,642
  • Edited 3:35pm Oct 19, 2010 2:48pm | Edited 3:35pm
DYODD. and use discretion and YOUR system.

Chart below will serve up 2 zones I am eying up.

USD came back today on the news out of China raising interest rates,
commodities, currencies and equites all shook a bit today, yet I am looking for further USD WEAKNESS and higher gold.

Needed correction and now you can see below we are RIGHT back in the mid channel line. This could be viewed as a no trade zone. Yet likewise offers up support and the bargain hunters may come out. Keep an eye on asia.

Aggressive traders may want to enter longs now. With tighter stops.
Safer wait till' tomorrow NY open to see how the USD fairs.

There is a possibility of more dollar strength....
Let's see.
Good luck
X

RSI at 30 and stochs dipping below...
Attached Image (click to enlarge)
Click to Enlarge Name: Gold_back to mid channel after high 13s.GIF Size: 28 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,643
  • Oct 19, 2010 5:48pm Oct 19, 2010 5:48pm
silver chart.

A bit further down on the channel slide. I am looking at longs on the following:
GBP/USD - "cable"
EUR/USD -"fibre"
AUSSIE/USD

and re-short swissy.

Lets see how the USD fairs
Attached Image (click to enlarge)
Click to Enlarge Name: silver NOW oct 2010.GIF Size: 34 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,644
  • Oct 19, 2010 5:49pm Oct 19, 2010 5:49pm
no serious chart damage has been inflicted today.

If we continue to correct tomorrow NY session I estimate only about 7 to 9 bucks for gold. Which I am biased against at this wrinkle in time.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,645
  • Oct 19, 2010 6:02pm Oct 19, 2010 6:02pm
I'm long 1333 for 11350 target,

good night folks!
Hero calls followed by margin calls...
  • #1,646
  • Oct 19, 2010 7:49pm Oct 19, 2010 7:49pm
To see all you guys posting!

Keep it up!

X
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,647
  • Oct 19, 2010 7:59pm Oct 19, 2010 7:59pm
We'll see how the market manages from here
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #1,648
  • Oct 19, 2010 10:14pm Oct 19, 2010 10:14pm
hope gold will go back to around 1350, if it cannot go up to 1355
,sell it. Wait 1299--1284.

wait and see.
I'm a young dealer.
Just come here to discuss and learn.
  • #1,649
  • Oct 20, 2010 12:04am Oct 20, 2010 12:04am
Asian end Euro stock in red ....
  • #1,650
  • Oct 20, 2010 12:27am Oct 20, 2010 12:27am
Hi guys, i've been taking a break and it looks like i'll take some more brake, i already have 10lots going long and i will stop for now, my last entry long was @1340, all is going according to plan, we needed a retracement before going higher, we are still in the channel, it bounced right back from the last support,the channel support, we have to see and wait what happens in the future.

Safe trades mates
Attached Image (click to enlarge)
Click to Enlarge Name: gold.JPG Size: 202 KB
  • #1,651
  • Oct 20, 2010 12:32am Oct 20, 2010 12:32am
(Kitco News) - Recent action in spot gold suggests that Thursday’s high of $1,387 an ounce should at least mark the end of the early September rally, says Andrew Chaveriat of BNP Paribas. He says gold finds strong hourly support at $1,329-1,325, which is the 38.2% retracement of Sep 10th rise and the Oct 8 swing low, with stronger support at $1,312. He says he favors seeing the current short-term rebound extending toward $1,346-1,352. “A further rise above $1,352 resistance - and certainly $1,356 - would favor a larger jump toward $1359, then $1366 and $1375,” he says.
  • #1,652
  • Oct 20, 2010 2:03am Oct 20, 2010 2:03am
Quoting musclemike
Hi guys, i've been taking a break and it looks like i'll take some more brake, i already have 10lots going long and i will stop for now, my last entry long was @1340, all is going according to plan, we needed a retracement before going higher, we are still in the channel, it bounced right back from the last support,the channel support, we have to see and wait what happens in the future.

Safe trades mates
whats ur plan? : /
Hero calls followed by margin calls...
  • #1,653
  • Oct 20, 2010 2:20am Oct 20, 2010 2:20am
My plan is Buy on Dip ..this is good value we are offered here just before one really bad news for dollar or economy or G20 meeting and we are up high again


Quoting PhAnTi'
whats ur plan? : /
  • #1,654
  • Edited 2:37am Oct 20, 2010 2:32am | Edited 2:37am
....further fall is possible. But where?
May be another touch of 1329 region???

I'm waiting for NY.

Be caerfull with longs, guys!

PS I see USDCHF & USDJPY reaching supports right now.
  • #1,655
  • Oct 20, 2010 2:34am Oct 20, 2010 2:34am
Hi everyone, I'm new here

nice to read about Gold
lot info could gather

Since Gold crash a bit yesterday
in next 24 hours, I am buying position
looking to stop at USD1360.xx
should it touch the level
expecting another free fall.
longer than yesterday....
  • #1,656
  • Oct 20, 2010 2:35am Oct 20, 2010 2:35am
Quoting xiaoxin
hope gold will go back to around 1350, if it cannot go up to 1355
,sell it. Wait 1299--1284.

wait and see.
I'm a young dealer.
Just come here to discuss and learn.
please don't sell my friend...if u are new to forex...first rule : never sell gold
Hero calls followed by margin calls...
  • #1,657
  • Oct 20, 2010 2:37am Oct 20, 2010 2:37am
Quoting nishantforex
My plan is Buy on Dip ..this is good value we are offered here just before one really bad news for dollar or economy or G20 meeting and we are up high again
which news do u waiting for especially?
Hero calls followed by margin calls...
  • #1,658
  • Oct 20, 2010 2:38am Oct 20, 2010 2:38am
Quoting fawaol
....further fall is possible. But where?
May be another touch of 1329 region???

I'm waiting for NY.

Be caerfull with longs, guys!
why do u think so?

guys please tell us ur toughts and maybe use some charts to explain those....

I'm long tough.... oO
Hero calls followed by margin calls...
  • #1,659
  • Oct 20, 2010 3:00am Oct 20, 2010 3:00am
Quoting PhAnTi'
why do u think so?

guys please tell us ur toughts and maybe use some charts to explain those....

I'm long tough.... oO
Too many graphs needed....but Ok

Here's my charts.
I see firm support 80.85 & consolidation level 81.10 on usdjpy,
usdchf has bounced from upper border of downchanel & 0.965 may become a
support, eur may bounce from upper border of downchanel today.
Gold as i said is too slowly goes up after yesterdays fall, Ag may retest 23.25 level.

So i see too many scenarios that make Au-longs risky.

But people want to see gold at 1400 anyway!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 12 KB
Click to Enlarge Name: usdjpy.gif Size: 11 KB
Click to Enlarge Name: xau.gif Size: 23 KB
Click to Enlarge Name: xag.gif Size: 14 KB
Click to Enlarge Name: eur.gif Size: 13 KB
  • #1,660
  • Oct 20, 2010 3:03am Oct 20, 2010 3:03am
Quoting XTrade
silver chart.

A bit further down on the channel slide. I am looking at longs on the following:
GBP/USD - "cable"
EUR/USD -"fibre"
AUSSIE/USD

and re-short swissy.

Lets see how the USD fairs
gold 1342.00 sitting at yesterdays breakout area.

eu just above its breakout 1.3810, looking to short 13866 area depending how she responds.
a/u just above its breakout @ 9777 looking to short @ 9814 area
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