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

  • #3,321
  • Mar 7, 2011 9:42am Mar 7, 2011 9:42am
Yes certainly.

Quoting MapleLeaf
Anyone else believes (part in experience and part in technicals+fundamentals), that XAUUSD can probably reach 2,000 in the next 14-18 months?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,322
  • Mar 7, 2011 9:52am Mar 7, 2011 9:52am
eyes open, they will tell us.
1442 and 36.47
  • #3,323
  • Mar 7, 2011 9:55am Mar 7, 2011 9:55am
Quoting Dolph
Highlander2 that was a close call last week. I had thought about putting my S/L under 1410 last week but i took the loss instead. now i regret it. I Better figure something out because its bound to happen to me again.
pure luck, nothing else. it was not really a trade i should have taken, i got away with it this time. but like i say i only risked a small amount. I have been stopped many times, by a few points often, it does not really matter where your stop is, the time will come and you will be whipsawed.

One thing i will say is, if you are stopped there is no law about getting back in, not right where you were stopped, but re-submitting your order where your first one was.

Just because your stopped, it does not mean the trade was wrong.

but this is one of the toughest things a trader will have to do.

something to think about though.

highlander2
  • #3,324
  • Mar 7, 2011 10:11am Mar 7, 2011 10:11am
Quoting highlander2
re-submitting your order where your first one was.
That's what I've been doing in trending markets, and a trend can not be more obvious than on a M1 gold chart.
  • #3,325
  • Mar 7, 2011 10:17am Mar 7, 2011 10:17am
Hello, anyone know of a good gold/silver ratio indi for MT?
  • #3,326
  • Mar 7, 2011 10:20am Mar 7, 2011 10:20am
Two new record highs. Gold and Silver. I am expecting slight resistance at 1450 but we'll see.

Lets see what the other PMs are doing.

Brent is 116 and Light Crude (WTI) is 105.
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,327
  • Mar 7, 2011 10:44am Mar 7, 2011 10:44am
I was short on that move. Not sure if it is over yet but that was nice
  • #3,328
  • Mar 7, 2011 11:44am Mar 7, 2011 11:44am
Quoting highlander2
pure luck, nothing else. it was not really a trade i should have taken, i got away with it this time. but like i say i only risked a small amount. I have been stopped many times, by a few points often, it does not really matter where your stop is, the time will come and you will be whipsawed.

highlander2

Yeah i'd thought about getting back in but pussied out. So i took a long on the demo account instead and bang.

Still got a lot to learn but i'm getting there slowly.
  • #3,329
  • Mar 7, 2011 1:46pm Mar 7, 2011 1:46pm
Quoting XTrade
Two new record highs. Gold and Silver. I am expecting slight resistance at 1450 but we'll see.

Lets see what the other PMs are doing.

Brent is 116 and Light Crude (WTI) is 105.
It's funny to see XAU and XAG up, but XPD and XPT down. People are going blindly to the safe havens.

By the way, the market is becoming a minefield. Rumours about Gaddafi are popping up and creating some of those sell-offs. Caution, guys!

@euroscum: congratulations! I managed to enter short at 1445. The position was relatively big, I decided to close at 1439 . It was a good profit, though.
"The reason I was born and came into the world is to testify to the truth."
  • #3,330
  • Mar 7, 2011 2:10pm Mar 7, 2011 2:10pm
nice catch of the short fellas

here's 60min GC fork - mod schiff from Jan 28th - which seems to be catching the frequency.....

beeb
Attached Image (click to enlarge)
Click to Enlarge Name: gc60.png Size: 61 KB
  • #3,331
  • Mar 7, 2011 2:20pm Mar 7, 2011 2:20pm
Not pure luck. Maybe a bit on the stop. But the entry was ok.
I am in the same trade. accept from
1413 and 1416 bottom of the channel.

So I would have had the stop be lower than at least 300 to 400 pips below the channel.

I didn't think the 1413 would get filled but sure enough it bounced down just enough and got bought and brought back up into the channel.

So, just being constructive you could have lowered the entry and therefore the stop would be as well.

I have no stops on the last two trades due to the support of the lower two.
If they get close to negative I'll probably take profit and reload on the dip.

THe problem with MT4 is it only shows the "bid" chart and not the ask.
Luck does help. but the way these things happen on a dime is that your offer or "stop" wasn't filled because the "ask" or buy price never hit that level

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

I read somewhere not sure if it was this thread someone was trading gold with a 150 or $1.50 stop. This is suicide or just a surefire way to lose money.



Quoting highlander2
pure luck, nothing else. it was not really a trade i should have taken, i got away with it this time. but like i say i only risked a small amount. I have been stopped many times, by a few points often, it does not really matter where your stop is, the time will come and you will be whipsawed.

One thing i will say is, if you are stopped there is no law about getting back in, not right where you were stopped, but re-submitting your order where your first one was.

Just because your stopped, it does not mean the trade was wrong.

but this...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,332
  • Edited 2:54pm Mar 7, 2011 2:32pm | Edited 2:54pm
Xtrade

I often trade the 10min with that sort of stop - am currently $5 up on a long that I took with a $1.50 stop (obviously moved it since open) but I haven't mentioned it on the thread before ......
And I seriously suggest ditching mt4 for a system such as Ensign/Esignal - obviously it costs but has huge advantages....

beeb

Edit - I don't suggest trading with such tight stops unless you think you know what you are doing lol
Double Edit - stopped out for $4 or so....
  • #3,333
  • Mar 7, 2011 3:40pm Mar 7, 2011 3:40pm
Quoting XTrade
Not pure luck. Maybe a bit on the stop. But the entry was ok.
I am in the same trade. accept from
1413 and 1416 bottom of the channel.

So I would have had the stop be lower than at least 300 to 400 pips below the channel.

I didn't think the 1413 would get filled but sure enough it bounced down just enough and got bought and brought back up into the channel.

So, just being constructive you could have lowered the entry and therefore the stop would be as well.

I have no stops on the last two trades due to the support of the lower two.
If they...

when i pick a position near strong main level i give very tight stops because if price breakes that level, surely goes opposite a lot.
when touched 1410.15 or some, were possible to get near 1400.
was only needed few pips down (...)
all depends on everyone's way of trading i think
90% of traders use TA, indicators and prediction
  • #3,334
  • Mar 7, 2011 4:14pm Mar 7, 2011 4:14pm
Ok we have formed a bearish pin bar here on the daily chart. There may be a correction comming in the next day or so. The position I entered on thursday has been made risk free by moving to breakeven.

If we correct I would look for PA on the 1400 level, and this would also be supported by the 21day ema which is in this area.
Attached Image
  • #3,335
  • Mar 7, 2011 4:58pm Mar 7, 2011 4:58pm
am seeing some GC support in the 1418-20 area from the 20min chart I have been posting. also some in that area from 240min and Daily. Next level looks to me to be around 1405....If we approach those levels will look to see how we react....


beeb
  • #3,336
  • Edited 11:36pm Mar 7, 2011 11:10pm | Edited 11:36pm
Quoting lilpip
that quarterly trend guid 26.28 area was here and gone quickly to start the year but I didnt think id be begging her to come back to 33.61 and 32.47 in the first full week of march.
bias is up from pivot, and will be watching how $36.50-$37.00 for possible scalp.

silver
march monthly
37.03
32.47
27.91
weekly
36.47
33.61
30.75
36.50-37.00 area has been noted along with a mon. close coming back to
35.89 voiding a breakout on the daily as mondays projected high area was 35.92.

tue.
36.86
35.61
34.35
bias for day is up from 35.61, however we may have a stronger trend of weekly or monthly in motion as price may be rotating back to pivot.
eyes will be extra wide @ 35.61 if we visit a 2nd time today.

tue. gold
1446
1428
1407-09
  • #3,337
  • Mar 7, 2011 11:38pm Mar 7, 2011 11:38pm
Here's just a little article.

I agree. Yet, I did note that at non breach of 1300 level for gold may be a nice buy in.

For first time physical buyers always take half of what you are ready to
"pull the trigger" on.

http://www.kitco.com/reports/KitcoNe...7DC_JeffC.html

There is brief discussion of options which seem to be a great way to trade paper metals. I would like to learn a bit more about options trading.

Anyway, the AG and AU BULL is roaring!!!!!!!

PGMs and Base metals not to be forgotten either.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,338
  • Mar 8, 2011 12:11am Mar 8, 2011 12:11am
partials taken @ 1429 from 1441 and 35.61 from 36.47, eyes open.
  • #3,339
  • Mar 8, 2011 3:50am Mar 8, 2011 3:50am
Quoting XTrade
Here's just a little article.
Nice text. So XPT and XPD are related to the car industry... interesting to know...

I wish we can see silver at $27 again. My dream is to buy a tube of 25 Maple Leaves. But not at $35.
"The reason I was born and came into the world is to testify to the truth."
  • #3,340
  • Mar 8, 2011 3:58am Mar 8, 2011 3:58am
Xtrade - be very careful with options - I read somewhere that 9 out of 10 small investors lose money with them....
harvest - i think i might buy two tubes at $28 lol

beeb
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