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

  • #2,641
  • Jan 22, 2011 8:03pm Jan 22, 2011 8:03pm
My man, you need to read about the fundamentals of silver.

What, why, when, who, where, and how much.

It's not going to dip 8 USD b/c a fibo or an indy tells you so.

Silver and Gold are COMMODITIES. They are not an infinite PRInTING PRESSES,, like the Federal reserve, the ECB, the BOJ, the SNB, the BOE, ETC, ETC, ETC have.

Commodities are not currencies, although SOME have value like GOLD, similar to money. (or a paper promissory note that can be devalued or re-valued with one swoop of a governments hand.)

Sugar and Pork bellies are not printed on a press. USD GBP CHF JPY $$$ are. Gold is not.

Start with MAJOR support and resistance, then add trend lines.
Next a moving average.

I only use RSI MACD and Stochs when i need to make longer term position plays and I cant tell what the price action is screaming.

Gold moves sideways a LOT. BUT, after a 100 USD move up it's called PARING GAINS and consolidation. Meaning the object has found a new price area in which both longs and shorts are comfortable OR at battle.

FOREX and GOLD is all about SuPPLY and DEMAND. News and techs when there are no news. That's the way I see it at least.

All are free to argue with me or voice there opinions.

Buy LOW sell HIGH and KISS -Keep it simple stupid.

There is no magic wand.

------------------------------------------------


If you dont KNOW THEN ASK. Please keep posting your questions as it seems you have gotten many responses.

Silver is slow until recently. Gold is your friend. Start focusing more on day trading GOLD and Position trading silver.


Quoting darksorrow
Well the reason i don't trade gold is it costs a lot. And the method i am using for silver i would not loose a trade but in gold there is a good chance for loosing.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,642
  • Jan 22, 2011 9:49pm Jan 22, 2011 9:49pm
Quoting roxen99
hi dude.silver is already down by 4$ from its maximum level and your buying levels are way too down. Don't be greedy.Best time to buy silver is right now. Price would never go down to 22 level unless there is a financial crises like 2008.By the way my personnel advice to you is you should trade on demo account.you need to learn a lot before making fortune in this business.good luck
Hi, thanks for your suggestion

Greediness does not influence me anymore but fear does. And i like to trade on currencies. It is until a few days ago when i realized that silver does not have much power when it comes to pips. Price is 30.xx means only 3000 pips so it can be traded without using any SL. I got interested in it because of it's weakness. And since i needed entry points so i used fibo.

Quoting XTrade


If you dont KNOW THEN ASK. Please keep posting your questions as it seems you have gotten many responses.

Silver is slow until recently. Gold is your friend. Start focusing more on day trading GOLD and Position trading silver.
I really appreciate your response. Your suggestion motivates me to get interested in gold. Although i would not go with gold but i will ask questions. Because every knowledge you can get is good. So i think in future if i get interested in gold (which probably i would) then these knowledge will help me out.

But again when i tried to teach few people about forex i simply told them ask me question and they could not come up with any question plus did not read babypips either.

So i am in the same position in case of gold now as i never tried to find anything to gain knowledge on gold. So i would like to know if support and resistance work on gold?

Thanks
  • #2,643
  • Jan 22, 2011 10:03pm Jan 22, 2011 10:03pm
The thread is quite interesting at the moment. XTrade I completely share your analysis view. This is just a minor expectable correction down and I expect it to come down about 30$ more before going up to 1.500 at around mid-March/end.

As for your coins they're pretty impressive! I like the Eagle one quite a lot with the well known phrase in latin.. The football club I support (Benfica [Portugal]) also has in its emblem the eagle and the exact same phrase "E Pluribus Unum" meaning what you probably already know "From All... One."
I also got a quite a few silver coins and 3 massively huge medallions in copper my godfather & uncle gave me when I was around 5.. I remember at the time I didn't have the notion of how valuable it was so I wasted a quarter of those silver coins in candies!

Here's my chart though... it doesn't differ much from yours...
Also a few historical graphs of silver for the newbies.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 47 KB
Attached Images
  • #2,644
  • Jan 23, 2011 1:16pm Jan 23, 2011 1:16pm
Another indicator people may find interesting for spot gold is the 150 day MA which has given support since early 2009

beeb
  • #2,645
  • Edited 8:18pm Jan 23, 2011 6:50pm | Edited 8:18pm
Quoting GeraldFX
May i ask how is EURUSD corelated to Gold?
they are not.
watching majors helps to keeps pulse of market and gives more pieces to puzzle and clearer picture for knowing when trends might be capping,bottoming out and turning .

they will tell you.
at the moment, eyes open e/u 1.3586
  • #2,646
  • Edited 8:05pm Jan 23, 2011 7:09pm | Edited 8:05pm
should be an interesting week.
e/u acts like it wants to climb and if so will see if silver continues to move south during e/u's retracements as she did all last week, (except for the last NY session) if not her mannerism is changing.
oops, correction.
silver had a breakout on the daily chart @ 27.99 It will be interesting to see if she rotates back to and climbs above 28.60-29.20 area this week and stay above monthly trend guide 27.83 or continues to head south towards weekly lows.

area bias is down from 28.60-29.20 and up from there also. Eyes open.
weekly chart
30.67
28.60-29.20
26.53
with eye on how 28.01 area responds.
  • #2,647
  • Jan 23, 2011 8:56pm Jan 23, 2011 8:56pm
GOLD - UP on open. -

Trade - open long from 1343

now time to check silver
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,648
  • Jan 23, 2011 9:01pm Jan 23, 2011 9:01pm
WELCOME ABOARD!!!!

Please continue to post your view and analysis. I will be more active this week.

I have some items I listed on another forum for sale. For instance two of the $2.5 (WHICH NOW ARE $350 + COINS)! LOL imagine the days of spending that for 2 and a half...

Copper is on a tear - I am an avid hoarder of US copper pennies and I buy some minted bars. I only expect higher CU prices to come.

I am taking an interest in Nat Gas due to how cheap it is but need to D MY ODD. on it.

Also expecting crude to pp 100 USD in 2011

Quoting z3r0
The thread is quite interesting at the moment. XTrade I completely share your analysis view. This is just a minor expectable correction down and I expect it to come down about 30$ more before going up to 1.500 at around mid-March/end.

As for your coins they're pretty impressive! I like the Eagle one quite a lot with the well known phrase in latin.. The football club I support (Benfica [Portugal]) also has in its emblem the eagle and the exact same phrase "E Pluribus Unum" meaning what you probably already know "From...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,649
  • Jan 23, 2011 9:48pm Jan 23, 2011 9:48pm
tempted to get long XAG..........
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,650
  • Jan 23, 2011 9:51pm Jan 23, 2011 9:51pm
LP Thank You for your continued posts to this thread.

Belated, but better late than never, welcome aboard.

Keep it up.

I should be able to get some charts up this week and steal some frommy brothers at gold is Money.

Quoting lilpip
should be an interesting week.
e/u acts like it wants to climb and if so will see if silver continues to move south during e/u's retracements as she did all last week, (except for the last NY session) if not her mannerism is changing.
.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,651
  • Jan 23, 2011 11:19pm Jan 23, 2011 11:19pm
Quoting XTrade
I only expect higher CU prices to come.
I am taking an interest in Nat Gas due to how cheap it is but need to D MY ODD. on it.
Also expecting crude to pp 100 USD in 2011
I mostly trade Forex, Gold and Silver the rest I don't devote much attention to but I saw a video the other day that you might find very interesting. It's a global trend macro analysis by a merryl lynch hedge fund manager where he explains things quite well and with use of demographics and other studies.
In the video he does talk about natural gas a few times and at some point he states they'll keep on shorting natural gas. Also 25m15s into the video he says to forget about natural gas and that the main reason they'll keep shorting natural gas is because it was recently discovered a 100 year US supply, in his opinion this will keep the prices quite low for over a decade.

In the same energy sector he talks more about oil saying that peak oil is 5 years off and due to the emerging market demand. He talks about coal that has huge exports to emerging markets and uranium as we pass though the re-birth of the nuclear industry and China is building 100 nuclear power plants by 2020.

Also.. don't get behind on the N11
Bye BRICs ( Brazil [ 376% ], Russia [ 1107% ], India [ 407% ] , China [ 192% ] )

Hello N11 :
1. Bangladesh
2. Egypt
3. Indonesia
4. Iran
5. South Korea
6. Mexico
7. Nigeria
8. Pakistan
9. The Philippines
10. Turkey
11. Vietnam

Main Reason for N11:
- They have emerging middle classes.
- They're generating big growth rates like Japan had before and China has today.

He also talks about much more stuff but the video is 35 minutes long so there is a lot of info there, I was just resuming a few important things.

You can find his video here

I hope this post proves to be useful

note: I edited the text to draw attention to the keypoints.
  • #2,652
  • Jan 24, 2011 9:16am Jan 24, 2011 9:16am
hi,

i'm junior in gold forex..i have one question..when a good time to buy and sell the order?i always stuck in make decision on this..for example i open 1 order 1344 then the price go to 1350..i didnt close the position but suddenly the price going down to 1343!!

so in this situation what should i do?..cut loss or open another position..if i open another..then if suddenly drop again..how?

please help me..huhuhu
  • #2,653
  • Edited 9:39am Jan 24, 2011 9:20am | Edited 9:39am
Quoting lilpip

they will tell you.
at the moment, eyes open e/u 1.3586
most e/u cleared off board, watching e/u 3660-88 and
a/u 9935-54
no move up on silver during e/u move up, eyes open.
  • #2,654
  • Jan 24, 2011 9:44am Jan 24, 2011 9:44am
Quoting lilpip
most e/u cleared off board, watching e/u 3660-88 and
a/u 9935-54
no move up on silver during e/u move up, eyes open.

what do you think sir, 9950,3660?
  • #2,655
  • Jan 24, 2011 9:46am Jan 24, 2011 9:46am
Did gold broke the neck line on head and shoulders pattern?

http://my.jetscreenshot.com/4962/m_2...-kzu8-80kb.jpg

Note: Most probably my identification of chart pattern is wrong as i don't practice them.
  • #2,656
  • Jan 24, 2011 9:51am Jan 24, 2011 9:51am
I Bought
1343 XAU

Same Trades running since last night as last week.

Long
GBP/USD
EUR/USD

AUD/USD - looks like a breakout - with more room to the upside (Got my weekend roll too

Short -

USD / CHF - Way more room to go down. Looking to target 9300 re-test

I would like to see gold re-take 1350 for continued upside strength
may see a speed bump now @ 1347 and next 1350 in the immediate sense.

Best performers so far EURO and AUssie
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,657
  • Jan 24, 2011 9:53am Jan 24, 2011 9:53am
Looks like Gold's gunning for 1350!!
Woo hoo!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,658
  • Edited 10:13am Jan 24, 2011 10:01am | Edited 10:13am
Quoting riko2705
what do you think sir, 9950,3660?
eye on 9977weekly chart she sure acts like she wants to climb bias up from 9879 and if above 9939 days trend continues. as posted e/u 3660-88.
a/u monthly
1.0367
1.0007
.9648
with eye on 9827
  • #2,659
  • Jan 24, 2011 10:19am Jan 24, 2011 10:19am
Quoting lilpip
eye on 9977weekly chart she sure acts like she wants to climb bias up from 9879 and if above 9939 days trend continues. as posted e/u 3660-88.
a/u monthly
1.0367
1.0007
.9648
with eye on 9827
thank you, good trading
  • #2,660
  • Jan 24, 2011 10:51am Jan 24, 2011 10:51am
Gold struggling a bit here. Probably the banksters in London suppressing the price.....


ANyway WOW Aud Blew up fast. I cashed out with 116 pips.
Looking for pullback to buy back then test 1.0075 this would be a 100% retracement from the last move down.

Now - GBP still struggling to take over 1.6000 I'm staying in and short swissy.
Euro cashed out looking for pullback to buy in again.

EDIT: there may be an entry here now in XAU....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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