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

it seems to be bouncing off between 1230 and 1236 atm, I closed my long with a decent profit which made my day.


it looks good for quick scalps with tight stop loss at the moment, but I'm just not in the mood for that adrenaline dose tonight.

Hey Fellas,

Only trade today was while I was out pending buy was hit @ 1225xx
closed @ 1231

Watching PA as of now.

I agree Six,

We may see further downside movement and I am eye-ing 1215. First.

Buying is clearly a bit week right now and in order for some smaller cap specs and or commercials to enter we need a lower price.

Now, lets not forget where we are, still 30 odd bucks above 1200 and coming off a fresh record high. A profit taking run will have such an effect on any pair or commod.

So is this a surprise, no.

I did think the FOMC would have produced a pop as it did in EUR and GBP but no cigar....

It is not clear ATM the next step and I am proceeding with caution.

I have just been to a webinar with James16 private site.
One trader mentioned divergence on gold.

After some fiddling to my charts to sort the macd out and help from Mike at J16, it is clear there is divergence.

Notice price made a higher high BUT macd is trending down.

We have price telling us one thing and macd saying something else.
There is divergence.
One of them is not telling the truth.

There was an all time high - often there will be a profit taking retracement after something like this.
We had a bearish outside bar the other day.
We have divergence, with macd trending lower.

The chart signs are indicating a dip - notice the dip after the previous all time high.

I took a short @ 1235 only scalping right now.

But looking for a lower price to position buy.

My system works nicely with the James system. Mine is more accurate. One guy from here, and I, combine on the two, and rock it. We wait for both to confirm. I have missed many a trade by combining, but it fine tunes it for me.

this is absolutely inhuman....rocketing out of the blue when everything pointed to a bigger correction...this pair is giving me the worst days ever...

About to go all in, of course on the negative side. Not yet though.

I'm not going to enter a position counter trend unless it hits 1265 again and makes a new high, I already learned that the hard way.

The only thing we know for sure about the gold right now is that it will go up in the mid to long term.

Half in at 12.08 on the HGD. Tight stop, not completely convinced, but worth a bunt.

I am long from 1233 and a HAPPY trader right now.

We are resting on a found minor support @ 1245.

THis LOOKS bullish but we need some more momentum to the upside to confirm uptrend resumption. Otherwise we are a bit vulnerable.

I got stuck,

Had shorted @ 1235

Then couldn't close it as i was away

Now i am in Red

have placed SL @ 1254 (thats the max)

Looks like am gonna take a huge hit...

I have a chart on the way.

What I like here is that we printed3 lows, the last two higher than the first that came in around 1225.

We have erased the last downside move and as i mentioned resting right above its point of decline around 1245. THus we have further established this level as s/r. It has worked as both in the recent PA.

We could see further resumption of rising price here.

Looks like we are forming a bullish flag on the H1 chart

I will email you for the next short entry, or long. I am short and up a medium pizza right now.

I'll buy you a large pizza of your choice if you bet is right

Why not have closed at 1225 and add new short here if that is your firm bias.


?


Auther can you hedge?

Up a large, fries and a shake right now.

my friend, we made the same mistake... I am short from 1234.. earlier in the day I caught I nice dip from 1233 to 1227, but my stupid fingers wouldn't go long.... I know, I know...stupidity is expensive...

Sold 5k of them for a profit of one used Rolex, via pawn shop. 24 winning trades in a row. And counting.

If there is a system anywhere in the world, or a trader anywhere, who can step for step, I want to meet him/her.

I probably could, but hedging means, i need to be front of pc all the time.

Its 90 mins past mid night for me... time to hit bed post the fifa matches...

I'll just ride my luck...