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

  • #3,341
  • Mar 8, 2011 4:39am Mar 8, 2011 4:39am
Quoting XTrade
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.
Guys, why don't you use cost-averaging on your entries? Just an idea...

If you enter only one order, you either win or lose, there is nothing in between. But if you spread some smaller orders around the entry point, the average entry may be even more profitable. With some luck, you get only winning positions! Sure, sometimes the open position will be smaller than usual - you have to do the math. I do believe, though, that it's much better than risking "everything" on one single order.
"The reason I was born and came into the world is to testify to the truth."
  • #3,342
  • Mar 8, 2011 10:13am Mar 8, 2011 10:13am
Price stalled temporary support found around old top.
Yellow line and bottom of current channel price structure.
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,343
  • Mar 8, 2011 10:17am Mar 8, 2011 10:17am
Platinum and Palladium are used in making catalytic converters.

When platinum topped out aroun 2200 in 2008 the was a spree of heists where people came out to their cars and found entire mufflers removed.

there are others that will go to junkyards and buy them to resell to someone who has the means of extracting the PMs.

I believe in some cases the platinum is mixed in some sort of ceramic compound, but don't quote me on that. It helps to reduce the emissions from exhaust.




Quoting harvest3r
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.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,344
  • Mar 8, 2011 12:59pm Mar 8, 2011 12:59pm
Hi Gold Masters

Do you think we could have a correction to 1420 before heading more up? or you see it reaching lower than that? I think we might be very close to the silver physical squeeze in which we might see the price growing very quickly... also we've got a day rage protest coming up this 11th March in Saudi Arabia which could get ugly and make oil spike again... that would also mean spikes for gold and silver and possibly new highs for all these since the correlation between these 3 instruments is very tight.
  • #3,345
  • Mar 8, 2011 2:51pm Mar 8, 2011 2:51pm
welcome risk

unfortunately there is no quick answer - suggest you read the last few pages to get some perspective. most considered people here are bullish long term but few would put their necks on the line to give you an unequivocable answer. (and if they did you should probably ignore them lol)
on the dailies - the indicators are high and it's probably not a buy point - nor is it a definite sell. suggest looking at smaller timeframes and see what evolves...

beeb
  • #3,346
  • Mar 8, 2011 7:23pm Mar 8, 2011 7:23pm
Is the boom coming soon? i see a wedge here...
Attached Image(s) (click to enlarge)
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  • #3,347
  • Mar 8, 2011 8:11pm Mar 8, 2011 8:11pm
Bought at 1427

Convergence on hourly RSi at channel line

Small position, look to build it up at hourly fractals

S/L below 1409

Fingers crossed.
  • #3,348
  • Edited 6:53am Mar 9, 2011 2:59am | Edited 6:53am
Quoting beeb
most considered people here are bullish long term but few would put their necks on the line to give you an unequivocable answer. (and if they did you should probably ignore them lol)
Speaking of gold bulls and long term...

Inserted Video


I don't adore this guy, but I like some of his thoughts. Luckily he still "wastes" his time on CNBC, regardless of those stupid and pointless criticism... It's like someone throwing pearls to the pigs.

It will be fun to see this video in some years from now, when the crash comes . (For those who never saw this guy, just search for "Peter Schiff" in Youtube. The interviews on CNBC around 2006 and 2007 are priceless! Everybody was laughing at him... until 2008 arrived.)

For those who are unable (or too lazy) to watch the video:
1) inflation is coming
2) the U.S. are running out of fools to buy bonds
3) the Dow Jones index will be worth a single ounce of gold
"The reason I was born and came into the world is to testify to the truth."
  • #3,349
  • Mar 9, 2011 5:35am Mar 9, 2011 5:35am
Hey Beeb, would you like to post an up to date fork? i cant make them yet, still searching. Thanks
  • #3,350
  • Mar 9, 2011 9:15am Mar 9, 2011 9:15am
@harvest3r: gift for my mother - 200$, my new laptop - 1k$, what this video has done for me today - priceless),
  • #3,351
  • Mar 9, 2011 1:23pm Mar 9, 2011 1:23pm
One Guy had a theory

Gold = $5000.00 USD
S&P = 5000 pts.


Quoting harvest3r
Speaking of gold bulls and long term...

It will be fun to see this video in some years from now, when the crash comes . (For those who never saw this guy, just search for "Peter Schiff" in Youtube. The interviews on CNBC around 2006 and 2007 are priceless! Everybody was laughing...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,352
  • Mar 9, 2011 1:26pm Mar 9, 2011 1:26pm
We need a little boost here to maintain channel.

Otherwise it looks like we may range out of it atop the old highs as an intermediate support. (not too strong)

I could see a dip to 1416.

or a pop to 1450. Need to read some news and do some more charting.

In any case Gold Bull is intact.

100 sma on H4 comes in at 1409 currently
200 sma on h4 comes in at 1380 currently

and we are ON the 50 sma on h4 chart. NOW>
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,353
  • Mar 9, 2011 1:40pm Mar 9, 2011 1:40pm
Well you are at the bottom of the channel and could run a tight stop. if if we break 1416 we may dip further.

Quoting Dolph
Bought at 1427

Convergence on hourly RSi at channel line

Small position, look to build it up at hourly fractals

S/L below 1409

Fingers crossed.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,354
  • Mar 9, 2011 3:08pm Mar 9, 2011 3:08pm
Quoting XTrade
One Guy had a theory

Gold = $5000.00 USD
S&P = 5000 pts.
Are you sure about S&P500? Actually S&P is around 1300 and therefore already lower than gold.

One of the terrible things in this video is the comment of that young lady. "Peter, you said about years. But how many exactly? It's too uncertain and our viewers cannot do anything with such information." Basically she is saying that the viewers are too stupid to think for themselves and that they just want to have some ridiculous tips, some bunch of stock names to trade or something.

This same lady will host a brand new show, exclusively dedicated to the Forex market. I don't know what to expect from it...

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

Regarding the price action, we are running out of news (and rumours)...
"The reason I was born and came into the world is to testify to the truth."
  • #3,355
  • Mar 9, 2011 4:25pm Mar 9, 2011 4:25pm
What a horrible choppy day! I am still holding long from 1421 ish, nearly been stopped at BE twice now. I have a feeling tomorow will be big day, either we collapse or we soar. just a thought....
  • #3,356
  • Mar 9, 2011 4:35pm Mar 9, 2011 4:35pm
nleitao - sorry I've been out all day, only just seen your post. Here's the GC fork I've shown numerous times - this is 240min

beeb
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  • #3,357
  • Mar 9, 2011 8:31pm Mar 9, 2011 8:31pm
Quoting harvest3r
Are you sure about S&P500? Actually S&P is around 1300 and therefore already lower than gold.

Think it's the Dow
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #3,358
  • Mar 9, 2011 9:43pm Mar 9, 2011 9:43pm
Quoting harvest3r
... Basically she is saying that the viewers are too stupid to think for themselves and that they just want to have some ridiculous tips, some bunch of stock names to trade or something....
The point of going on national TV is to be specific. Some just try to show their face and win customers without putting their reputation on the line.
  • #3,359
  • Mar 9, 2011 9:47pm Mar 9, 2011 9:47pm
I'll take a little bite on the Long side.

4Hr Gold
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Daily Gold
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The indicators in the lower windows are mixed & this may not be a smooth ride. Don't over-react.

B
  • #3,360
  • Mar 10, 2011 1:58am Mar 10, 2011 1:58am
GM all

GC at an interesting spot today. Daily 14,3,3 stochs have rolled over and triggered down through 80 - normally an ominous sign. Also MACD looking heavy. Gold needs to bounce off the LP of the 240min fork shown above or we could see further declines. IMHO......

beeb
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