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

  • #61
  • May 6, 2010 7:23am May 6, 2010 7:23am
Right now is ONE OF THE RARE times Gold is moving with the greenback.


The ultimate situation to propel gold higher is at hand.
Investors / institutions / countries looking to place money in a tangible asset / commod that offers proven return


Look, I am all for taking certain short, however, we are bullish until there is
major confirmation, then I will look for shorts / & cover them at a better price/

Euro is going to low .200 if not .15
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #62
  • May 6, 2010 7:42am May 6, 2010 7:42am
I have had my major confirmation. The steroidman confirmation. It never fails. In two years of testing. But lets just see. Usually the biggest wins are when you feel like you are the only guy in the world in that camp. Like sliding down a razor blade to riches.

Not to brag,but if you check all my posts, they were all pretty major calls. And hey, I am a founder and stockholder of a NYSE silver company, so I wish I was wrong.

The discipline in this game is to almost NEVER trade. Its like alcoholism. The trick is to NOT DRINK. Wait for major, major tops and bottoms and defend and parry and charge. Otherwise you are like the millions of guys feeding your account.

And this trade is not nearly as scary as my second last one. My bull market call on the US dollar. Now that made for being as lonely as I have felt for quite some time. You literally have to be the only one in your network playing on that side. To be right.
  • #63
  • Edited 8:19am May 6, 2010 8:18am | Edited 8:19am
OK, so what is it that is creating your major confirmation for complete long term trend reversal? You have yet to disclose.


I am not bearish as of yet. Short or long term

my judgement is based more fundamentally than on the charts.

Gold during the upcoming season has a tendency to fall then rise again towards
winter.

I am not saying either that we can't fall $200, Ultimately though that will be a nice long entry.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #64
  • May 6, 2010 8:43am May 6, 2010 8:43am
I am slightly out of the money right now, so no doubt, no one is all that interested in my major indicator. Its always a challenge at tops. Always lonely. But major hedge funds are cooling this off as best they can.
  • #65
  • May 6, 2010 11:48am May 6, 2010 11:48am
Quoting steroidman
I am slightly out of the money right now, so no doubt, no one is all that interested in my major indicator. Its always a challenge at tops. Always lonely. But major hedge funds are cooling this off as best they can.

sell more when it goes higher, i think that's how they make money trading in lala land.
  • #66
  • May 6, 2010 4:11pm May 6, 2010 4:11pm
We Are here! had to run out before,
WOW volatile moves here!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #67
  • May 6, 2010 4:11pm May 6, 2010 4:11pm
No problem, Welcome aboard!
Quoting DragonFlyFX
Thanks XTrade. I was sitting here thinking the same and a bit afraid to post (being a newbie), but as I previously said you both have opposing opinions and I genuinely was hoping for steriodman to "back up" his gold crash with something concrete other than "hearsay". There must be either fundamental or technical reasons behind this crash for it to make some sense. I was just looking for more clarity.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #68
  • May 6, 2010 4:26pm May 6, 2010 4:26pm
Same sentiments my friend just on the other side.

Quoting steroidman
This is how you make a very large amount of dough in this game or get stopped out. You take a position at what you think is a top or a bottom(major) and you finesse and add and you hopefully go home in a limo, or you hitch a ride.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #69
  • May 6, 2010 4:42pm May 6, 2010 4:42pm
Gold will open in a few minutes..

I am looking @ 1175 / 1190 areas as support and
1250 as resistance in the immediate.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #70
  • May 6, 2010 4:44pm May 6, 2010 4:44pm
if you wouldn't mind sharing yor indicators and start with me that would be nice. I'm new to gold usd and new to forex as well I seem to do ok at the moment but I know there is lots of room for improvement. Thanks
  • #71
  • May 6, 2010 4:54pm May 6, 2010 4:54pm
I would be happy to.
This is something missing from this thread.

Primarily, I trade/ buy physical, thru,

Fundamentals, Global.
Support and resistance levels
Moving Averages / Trending.

Right now I am a bit wiped, but will be sure to add the rest.
Welcome!
X

Quoting pipinz
if you wouldn't mind sharing yor indicators and start with me that would be nice. I'm new to gold usd and new to forex as well I seem to do ok at the moment but I know there is lots of room for improvement. Thanks
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #72
  • May 6, 2010 4:55pm May 6, 2010 4:55pm
To start add

50 SMA/ EMA
and
200 whichever you prefer / at this length it is a small difference
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #73
  • May 6, 2010 4:59pm May 6, 2010 4:59pm
thanks. Ya right now I trade 4h with 7 and 14 sma. Basicicly I trade with thr trnd of the 4 hour when it crosses but I wimp ut and exit early like today I split out at1186. What could be used for a good timing point on when to exit without shorting your porfits too much?
  • #74
  • May 6, 2010 5:01pm May 6, 2010 5:01pm
Gold opens unchanged.

Another means to trading is sensing market FEAR.

Fear is positive for Gold.

Yet, Gold will do what it wants,
In other words, just because a bunch of traders punch up or down the spot price, By no means, MEANS that heavily positioned institutions and or investors,
sell.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #75
  • May 6, 2010 5:01pm May 6, 2010 5:01pm
sorry spelling is off I'm on my phone at work
  • #76
  • Edited 4:02pm May 7, 2010 2:07am | Edited 4:02pm
so now this is all supposedly a mistake. (DOW Dropping 1000 points)

Not sure I buy that! LOL

In any case,

GREAT to see TV finally asking FX managers and desk boss's about things..

Hmm, wonder why that is.. Not really.. These are the profit makers/ market movers.
Trading money is far different than stocks.


Commodities are money in my view, just different form.

Anyway, back to GOLD.

1200 is a LARGELY PSYCH level. Of "in the long run" of actually minimal importance. Sure it's nice to break psych resistance...

Gold finds support / resistance every day.
Likewise creating new all along..

Congrats to all those who have stuck by this long trade since 1090/ 1100
1200 Broken. 100 dollar move. Even with a micro that is a Great trade.

Welcome to all the newbies here @ FF. stick around, things are JUST
getting interesting!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #77
  • May 7, 2010 2:21am May 7, 2010 2:21am
new day...
BTW Platinum will take 000 again.
http://www.kitco.com/images/live/gold.gif
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #78
  • Edited 5:09am May 9, 2010 5:07am | Edited 5:09am
Seems everything in this post below has happened.

We have taken 1200 and the question is where to next. We have charted resistance @ 1225 area and I am looking @ 1250 as potential immediate resistance to the upside.

However, with recent Euro resolution news I will not be surprised to see a bit come off the spot price as market/s open.
To the downside I like 1200 as "psych" support 1190 area, 1175 area, 1165 as firmer support.

An article - EU Finance Chiefs Race to Ready Euro Stability Fund (Update1)

Quoting XTrade
At this rate the Euro will break 3000 into the 29s befor turnaround and the pound .4500 this would put the DXY @ appx 85 and Gold over 1200...

Bearish activity continues for the "euro" zone and cable...

Even after bailout Euro seems to be on a path for disaster. Yet I will not be surprised to see it up 100 pips tomorrow. Then go short! LOL
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #79
  • Edited 5:56am May 9, 2010 5:31am | Edited 5:56am
The answer to this specific question is resistance. 1186 was not a substantial enough rez to exit. Rather, the 1190/2 area which is current immediate support, The Goal was 1200 (From 1090/ Triangle break on daily) and above. Thus, the 1208 area closes we have seen. (There is still substantial uncertainty in the EU zone. UK as well with the first hung parliament since '74) I am still looking up.

----Potential to 1350 if not eventually higher. ---NOTE --- Longer Term Goal --- Not an intraday or even intraweek immediate---- 1350 is intramonth ---Note end!

Sometimes it comes down to what you feel, where you see next, or what fundies and charts are suggesting and helping the decision and not an indicator.
There is no way to always enter bottoms and sell tops.

Quoting pipinz
thanks. Ya right now I trade 4h with 7 and 14 ma. Basicicly I trade with thr trnd of the 4 hour when it crosses but I wimp ut and exit early like today I split out at1186. What could be used for a good timing point on when to exit without shorting your porfits too much?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #80
  • May 9, 2010 7:42pm May 9, 2010 7:42pm
Not going to organize a parade just yet, but am in the black now. This has not been an easy trade. One of the toughest ever. Short and looking to go a lot lower.
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