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

  • #2,801
  • Feb 3, 2011 11:02am Feb 3, 2011 11:02am
Boom straight up to 1350, here we go now
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #2,802
  • Edited 11:13am Feb 3, 2011 11:06am | Edited 11:13am
Quoting Bootleger
Boom straight up to 1350, here we go now
do you have a target for this?

Day range done. 18dma hit. next is 55ema and 100dma at 1359
I have no enemy; I make Incautiousness my Enemy.
  • #2,803
  • Feb 3, 2011 11:19am Feb 3, 2011 11:19am
How quickly things can change, an hour or so ago i was within 3$ of beign stopped. Ive taken a third off at 53 and i have moved my stop up on the rest to 37. NFP tomorow so being cautious. price has hit the first troubled area at 53 as seen on daily chart as being old resistance/support. will look to take more at 63 and then let the rest go. no obvious target to me.
Attached Image
  • #2,804
  • Feb 3, 2011 11:30am Feb 3, 2011 11:30am
Quoting XTrade
Just incase you guys are wondering I am holding longs since the 21st of Jan.

2 are in profit now 1 at a loss.
im holding 2 longs 1 from 4 january other from 10 january... 1500 in open loss opened sell limit @ 1325.29 hoping 1326 resists, but it needed a bit more room and trigered grrrr now im at 3 losses damn noobish i am!!!

need to close the sell but i have no guts for it...
  • #2,805
  • Feb 3, 2011 11:40am Feb 3, 2011 11:40am
Quoting highlander2
How quickly things can change, an hour or so ago i was within 3$ of beign stopped. Ive taken a third off at 53 and i have moved my stop up on the rest to 37. NFP tomorow so being cautious. price has hit the first troubled area at 53 as seen on daily chart as being old resistance/support. will look to take more at 63 and then let the rest go. no obvious target to me.
Whats at 63? Whats the blue line on the chart?
I have no enemy; I make Incautiousness my Enemy.
  • #2,806
  • Feb 3, 2011 11:48am Feb 3, 2011 11:48am
1363 is just a random number, i see no obvious target, 1365 is a 50% retracement of the move down from jan 1st.

the blue line is the 50 day ema.

Highlander.
  • #2,807
  • Feb 3, 2011 12:00pm Feb 3, 2011 12:00pm
Quoting langtu
I think, in this week, gold will target 135X - 136X - 137X !

have nice day!

GOLD now is 1354 ! it will can up more !
  • #2,808
  • Feb 3, 2011 7:13pm Feb 3, 2011 7:13pm
This is looking pretty good so far.

Here are the charts and entries and my current channels.

We are out of range for past four days of $20.

Price buoyed a bit today on news, yet 1325 held strong.
May be some EUR/USD longs ditching Euro for Gold after Trichet statements.
Plus even with OK jobs report USD is weak amongst it DXY components overall.
even with the euro falling.

AUD has caught a bit of fire. Should have doubled up on that trade. DAMN.
Oh well! Can't complain profit is profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GOLD_range_break_feb2011.GIF Size: 37 KB
Click to Enlarge Name: GOLD_range_break_feb2011_daily view.GIF Size: 52 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,809
  • Edited 3:23am Feb 4, 2011 3:07am | Edited 3:23am
gold currently retracing a bit, actually i think this is quite healthy, because if it had gone up all night i would be thinking at nfp would reverse it.
hopefully it will not get too near my SL now at 37 before the data comes out.

what are you guys expcting as a reaction here? i never really looked at gold during nfp much before, too busy trading the euro.

bad number= higher gold prices???
  • #2,810
  • Feb 4, 2011 3:34am Feb 4, 2011 3:34am
Quoting highlander2
gold currently retracing a bit, actually i think this is quite healthy, because if it had gone up all night i would be thinking at nfp would reverse it.
hopefully it will not get too near my SL now at 37 before the data comes out.

what are you guys expcting as a reaction here? i never really looked at gold during nfp much before, too busy trading the euro.

bad number= higher gold prices???
bad = higher gold. surely !
  • #2,811
  • Feb 4, 2011 4:15am Feb 4, 2011 4:15am
Quoting whatfx
bad = higher gold. surely !
yeah i was thinking that, although reactions to news are not always what seems logical.

Thanks
  • #2,812
  • Feb 4, 2011 4:50am Feb 4, 2011 4:50am
Quoting highlander2
yeah i was thinking that, although reactions to news are not always what seems logical.

Thanks
anyway gold is more fundamental than technical.
depends on the usd.
Hero calls followed by margin calls...
  • #2,813
  • Feb 4, 2011 7:21am Feb 4, 2011 7:21am
I'm happy these trades are finally in profit. Thinking about taking the last entry off the table. (that is one positive thing about metatrader accounts)


Usually. Be fast though. smash and grab if you are going to trade the report without standing positions.

if the number is really off negatively it may set the trend. otherwise gold can swing wildly in both directions.

your analogy below is mostly the case.
1
Quoting highlander2

bad number= higher gold prices???
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,814
  • Feb 4, 2011 7:48am Feb 4, 2011 7:48am
Quoting highlander2
bad number= higher gold prices???
It's not that simple. If the number is really really bad, people will get totally scared and think only of one thing: liquidity. They will sell even gold in order to have $$$ in their pockets.

I think the price action in September 2008 is pretty interesting in that respect.

Boring price action in gold until now. Not even my longs at 1345 were triggered.

Oh nooooo.... USDJPY failed to trigger my longs by just 5 pips It would have been the easiest 60 pips in my career!
"The reason I was born and came into the world is to testify to the truth."
  • #2,815
  • Feb 4, 2011 8:17am Feb 4, 2011 8:17am
Quoting harvest3r
It's not that simple. If the number is really really bad, people will get totally scared and think only of one thing: liquidity. They will sell even gold in order to have $$$ in their pockets.

I think the price action in September 2008 is pretty interesting in that respect.

Boring price action in gold until now. Not even my longs at 1345 were triggered.

Oh nooooo.... USDJPY failed to trigger my longs by just 5 pips It would have been the easiest 60 pips in my career!
-.-
Hero calls followed by margin calls...
  • #2,816
  • Feb 4, 2011 9:15am Feb 4, 2011 9:15am
unable to push up any today. twice tested 1357.

Perhaps back and fill now.

China and HKG were closed today for Chinese New Year.

Perhaps monday plays catch up.
I have no enemy; I make Incautiousness my Enemy.
  • #2,817
  • Feb 4, 2011 9:26am Feb 4, 2011 9:26am
between my two downtrend lines.

One H1 candle piercing the red dashed line and the second forming above.

Need to break the next line and close above or in area and we may have a new trend emerging.

here are the charts
http://www.forexfactory.com/showpost...postcount=2932

Ill post a close up/ looks like gold is gunning for breach of the overshoot line.

see below its dashed purple
Attached Image (click to enlarge)
Click to Enlarge Name: between the lines.GIF Size: 28 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,818
  • Feb 4, 2011 9:30am Feb 4, 2011 9:30am
scaling out- there is minor resistance at 1356 where we are now.

A close in this range will be good.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,819
  • Feb 4, 2011 9:35am Feb 4, 2011 9:35am
my silver much better than gold..try to cover previous lost.silver now looking 29.30..i think if can break this resistance maybe can go further ...
  • #2,820
  • Feb 4, 2011 10:42am Feb 4, 2011 10:42am
It's funny to see that the explanation for the never ending bad US jobs numbers is always the weather... cmon
US Dollar is trash... Get out of that Ponzi scheme !!!
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