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

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

#3,061
Feb 22, 2011 3:58pm Feb 22, 2011 3:58pm

beeb
| Commercial User | Joined Oct 2010 | 1,778 Posts

how important or not a "lagging indicator" is can depend on the circumstances.
for example look at a two year chart of Daily GC with 150 day moving average. note how every time the price approaches the MA it bounces away like anything....that's a useful lagging indicator....
also try a 60,3,3 stochastic on Daily GC - note how when it triggers up and crosses through 20 it confirms a significant uptrend

beeb

#3,062
Feb 22, 2011 4:05pm Feb 22, 2011 4:05pm

highlander2
| Joined Jul 2010 | Status: . | 893 Posts

Quoting beeb

Disliked

how important or not a "lagging indicator" is can depend on the circumstances.
for example look at a two year chart of Daily GC with 150 day moving average. note how every time the price approaches the MA it bounces away like anything....that's a useful lagging indicator....
also try a 60,3,3 stochastic on Daily GC - note how when it triggers up and crosses through 20 it confirms a significant uptrend

beeb

Ignored

yeah moving averages are good for dynamic SandR, i recommend them, i just think traders should focus more on s and r and watch and learn to read how price is moving. candlesticks are very powerful to me. just my way of course

#3,063
Feb 22, 2011 7:31pm Feb 22, 2011 7:31pm

Dolph
| Joined Feb 2011 | Status: Trader | 76 Posts

Convergence in RSI on hourly chart with wedge PA has tempted me back in to a small long from 1396 (which i have as support level for short term wedge and my trend line).

If price breaks lower which i still think it may i will add to my position as plannned from around 1385 and 1375 areas as and when PA dictates because i dont think it will go far south due to much support.

I am long bias from all consolidation phases inline with trend.

Target around 1410 retest then move s/l to BE.

#3,064
Feb 23, 2011 4:52am Feb 23, 2011 4:52am

Euroscum
| Joined May 2010 | Status: Trader | 324 Posts

http://in.reuters.com/article/2011/0...55090920110223

interesting read on silver

#3,065
Feb 23, 2011 6:29am Feb 23, 2011 6:29am

harvest3r
| Joined Aug 2010 | Status: Forex sniper | 381 Posts

Quoting Euroscum

Disliked

interesting read on silver

Ignored

Really interesting.

"It could rise higher than $35 ... $40 is not an impossibility this year if gold performs incredibly well, and drags silver higher."

I start to doubt this direct correlation. While gold went up by 7% in February, silver had a rally of 30%!!!! It gives the feeling that gold is moving towards a kind of "currency class" (more stable) and silver to a "commodity class" (big volatility).

"The reason I was born and came into the world is to testify to the truth."

#3,066
Feb 23, 2011 6:37am Feb 23, 2011 6:37am

beeb
| Commercial User | Joined Oct 2010 | 1,778 Posts

harvest

there has been plenty of noise about a short squeeze in silver recently

btw - check out how well this fork has been working for 20min GC recently

http://www.screencast.com/t/reMubDWcobj

beeb

#3,067
Feb 23, 2011 6:40am Feb 23, 2011 6:40am

Euroscum
| Joined May 2010 | Status: Trader | 324 Posts

Quoting harvest3r

Disliked

Really interesting.

"It could rise higher than $35 ... $40 is not an impossibility this year if gold performs incredibly well, and drags silver higher."

I start to doubt this direct correlation. While gold went up by 7% in February, silver had a rally of 30%!!!! It gives the feeling that gold is moving towards a kind of "currency class" (more stable) and silver to a "commodity class" (big volatility).

Ignored

Silver has decoupled from gold, but not entirely and is now based on the stock market going up. Speculation is driving silver now in futures contracts as mentioned in the article as well as producers hedging and locking in profits. Would look for a reversal in the stock market as a sell sign and at these lofty levels it could come sooner rather than later.

The spx has been down a couple days in a row, so lets see if it can recover.

#3,068
Feb 23, 2011 6:43am Feb 23, 2011 6:43am

Euroscum
| Joined May 2010 | Status: Trader | 324 Posts

Quoting beeb

Disliked

harvest

there has been plenty of noise about a short squeeze in silver recently

btw - check out how well this fork has been working for 20min GC recently

http://www.screencast.com/t/reMubDWcobj

beeb

Ignored

Nice

#3,069
Edited 7:21am Feb 23, 2011 6:56am | Edited 7:21am

beeb
| Commercial User | Joined Oct 2010 | 1,778 Posts

You can't beat a good fork lol

#3,070
Feb 23, 2011 7:27am Feb 23, 2011 7:27am

Euroscum
| Joined May 2010 | Status: Trader | 324 Posts

Quoting beeb

Disliked

You can't beat a good fork lol

Ignored

forker

#3,071
Feb 23, 2011 9:15am Feb 23, 2011 9:15am

harvest3r
| Joined Aug 2010 | Status: Forex sniper | 381 Posts

Hopefully I'm not totally off-topic.

What do you think about AUDCHF? It's quite an indirect way to trade gold/silver, but considering the good correlation between AUD and metals, it could be well "explored".

CHF is getting overvaluated at the moment due to the Middle East crisis and may lose value in some weeks/months. OK, some of you will say that CHF will always keep going up against the USD...yes, that can be also right.

Anyway, AUDCHF is falling at the moment. When the trend reverses, it can be a very nice trade. And there is a very good advantage to gold/silver: you EARN rollover instead of paying it, like in gold/silver

"The reason I was born and came into the world is to testify to the truth."

#3,072
Feb 23, 2011 9:34am Feb 23, 2011 9:34am

XTrade
Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts

Welcome! Glad you enjoy the thread.

Euro just broke decent resistance and is flying!

Gold up - Oil is still flying brent is pushing 110
Cable is up but waiting to break 6250 WTF....!!!
Silver Up!

Dolph you can just take screen shots of the charts and upload those. it's easier.

Quoting Dolph

Disliked

Hi fella's i just registered after lurking here for a few months.

I thank X trade for a really good thread and i could'nt agree more with his analysis. BUY DIPS in the UP TREND, SELL RALLIES in the DOWN TREND. SIMPLE.

I've been trading 8 months now and i'm just starting to get a grip of my negative emotions, so i have made some good progress this month. I don't claim to be a successful trader yet but i am well aware of my weaknesses (Emotion) and strenghts (Analysis) and this has helped me start turning my account around.

I only trade...

Ignored

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News

#3,073
Feb 23, 2011 11:03am Feb 23, 2011 11:03am

highlander2
| Joined Jul 2010 | Status: . | 893 Posts

gold looks like it could test all time highs in the very near future. Im still holding longs from 1363. go go go.

#3,074
Feb 23, 2011 11:07am Feb 23, 2011 11:07am

beeb
| Commercial User | Joined Oct 2010 | 1,778 Posts

still struggling with the 1415 resistance it hit an hour ago......

(the Upper Parallel of the fork I posted earlier - plus a couple of other resistances)

#3,075
Feb 23, 2011 12:08pm Feb 23, 2011 12:08pm

Dolph
| Joined Feb 2011 | Status: Trader | 76 Posts

here's my 2 pence worth guys.

The daily 8 period RSI (close) i use is indicating a divergence in overbought territory after today's move so i'm going to be very careful over next few days. This is the same indication RSI (either 4hr or daily) gave before all the other major corrections in late 2010.

I'd like to see gold pull back before i give it both barrels.

I use the 8 and 21 day EMA's as trend reference and price seems very over extended to me judging by how accurate these EMA's have been over the last year. Price rarely leaves the 8 day EMA for long before snapping back.

Did you guys watch the documentary "Meltup" which was flying around the internet last year. I re-visited it toay on youtube and maybe now we can see some of the rumblings of rising inflation and interest rates across many nations that they were talking about. Its worth a watch if you did'nt see it, i dont neccessarily agree with everything they say but they do make some good points.

Happy Days.http://www.forexfactory.com/images/icons/icon14.gif

#3,076
Feb 23, 2011 12:25pm Feb 23, 2011 12:25pm