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

  • #3,481
  • Mar 11, 2011 7:13pm Mar 11, 2011 7:13pm
Admittedly I haven't read this entire thread but just wanted to add my take on this whole Gold/Silver & Commodities/Stocks angle.

Gold vs DOW {any Index}.
If the Stock Market turns Bearish. What should I do?
My Account/Broker wont let me play Shorts on SSFs. (Single Stock Futures)
But I still want my money to Grow, so what should I do?
Do like the Big Boys do. Move your funds to Quality Vehicles.
Gold & the Swiss Franc. We call it "The Flight to Quality."

But I can't afford Gold @ $1,400.00 an oz.
Then Buy Silver. It's less than $40.00/oz.
Silver has a greater Industrial Market than Gold.
Gold has a larger Safe Haven Market than Silver.
Time, Taxes, Death & the fact that 1oz of Gold will always buy you a very nice Suit {or whatever}.
These are Facts that we can live by.

Chain of Events.
Please go with me on this for a little. FA is Often Restrained by PA
Country 'A' has an economic slowdown/Crisis ie.Japan Earthquake. So why should I hold thier Currency?

USDJPY 1 Hr
Attached Image (click to enlarge)
Click to Enlarge Name: short 1hr with a spoon 2.gif Size: 32 KB

WE tend to think "Sidline". THEY don't.
THEY want thier Money working 24/7
My objective is to Paralell Them.
Where are THEY Buying?

Gold 1 Hr
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr with a spoon 2.gif Size: 21 KB


Silver 1Hr
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr with a spoon 3.gif Size: 23 KB


USDCHF 1 Hr
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr with a spoon 4.gif Size: 36 KB



Fact is Fact.
Behave like a 'Big Dog'

As a Sidenote, I will tell you right now, Golld Will Be Bullish from wherever come September. Mark your calander.


B
  • #3,482
  • Mar 11, 2011 11:50pm Mar 11, 2011 11:50pm
thread getting interesting...
thanks suntrader,lvgoose, bemac (and other traders) for their posts
  • #3,483
  • Mar 12, 2011 12:15am Mar 12, 2011 12:15am
Quoting XTrade
WOW

A 2 USD count em one two DOLLAR day for silver!

back above 36. Daily pinbar.
This is a sign of extreme weakness in silver. Check candle formed on weekly tf and Friday. 36.36 is the the resistance while 52ema on weekly tf is the next price attraction point. Again I repeat "A MAJOR BEAR MOVE HAS STARTED ON SILVER"
  • #3,484
  • Mar 12, 2011 12:22am Mar 12, 2011 12:22am
http://www.kitco.com/ind/hamilton/mar112011.html

I think everyone here should read this from yesterday to see historically what happens when every time Silver gets ahead of itself. This guy is almost 100% in cash now and is a bit of a silver geek.

Do not get caught up in the fairytale unless you want your face burned off with a blow torch. This is more relevant for people who want to buy phsyical at the current levels I guess, as paper you can dump anytime.
  • #3,485
  • Mar 12, 2011 4:30am Mar 12, 2011 4:30am
Huge explosion at japanese nuclear power plant- god help us...


http://www.bbc.co.uk/news/world-asia-pacific-12720219
  • #3,486
  • Mar 12, 2011 6:01am Mar 12, 2011 6:01am
Here are some suggestions for weekend reading:

http://www.traderdannorcini.blogspot.com/
http://harveyorgan.blogspot.com/
http://jessescrossroadscafe.blogspot.com/
http://jsmineset.com/
http://www.safehaven.com/
http://goldseek.com/
http://www.zerohedge.com/
http://kingworldnews.com/kingworldne...orld_News.html

beeb
  • #3,487
  • Edited 9:39am Mar 12, 2011 9:17am | Edited 9:39am
Silver will hit 50 again. Don't buy tops, wait for breakout and hold longs from down below and the trades get "safe".

The top has just been blown off after years and YEARS of artificial PRICE SUPPRESSION in the silver markets most notably the COMEX by the likes of JPM.

35 is not that huge of an increase from the last suppression high in 2008 of 22. THen we hit 7 and gold hit 700. You will not see these numbers again unless the world gets itself out of debt and stops printing it away with more paper. Which rest assured is not happening any time soon.
Not to mention unemployment.



Quoting forexcompoun
This is a sign of extreme weakness in silver. Check candle formed on weekly tf and Friday. 36.36 is the the resistance while 52ema on weekly tf is the next price attraction point. Again I repeat "A MAJOR BEAR MOVE HAS STARTED ON SILVER"
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,488
  • Mar 12, 2011 9:37am Mar 12, 2011 9:37am
That doesn't look to good.... Jeese.


It is interesting the difference in currency reaction from NZD falls 400+ pips after earthquake

JPY strengthens 100+ after earthquake.
Population
- 2010 estimate127,360,000

New Zealand's June 2010 estimate4,393,500
Quoting highlander2
Huge explosion at japanese nuclear power plant- god help us...


http://www.bbc.co.uk/news/world-asia-pacific-12720219
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,489
  • Mar 12, 2011 9:53am Mar 12, 2011 9:53am
Quoting XTrade
That doesn't look to good.... Jeese.
Supposed to be a hydrogen explosion, the reactor itself is secure. They are going to flood the reactor with sea water to try and cool it before meltdown occurs. At least thats whats on the news...

Its amazing the reaction the yen had to this disaster, it just goes to show that common logic does not apply to markets.
  • #3,490
  • Mar 12, 2011 10:13am Mar 12, 2011 10:13am
I read that it takes 2 days to fully cool the core once the reactor has been taken offline. But that's probably assuming the regular backup cooling systems are working continuously during that time. Also talk of radiation hopping on the jet stream and heading towards the west coast of north america.

This is a huge blow to nuclear power being the energy source of the future. There will be new construction standards taking place across the world due to this. And until that happens, people everywhere are reminded that we inhabit the earth. We live were it lets us live. So one way to see it is that longer term, commodity based fuels may once again be the politically correct solution until alternative fuels gain marketshare.
  • #3,491
  • Edited 12:31pm Mar 12, 2011 12:15pm | Edited 12:31pm
Quoting XTrade
Silver will hit 50 again. Don't buy tops, wait for breakout and hold longs from down below and the trades get "safe".

The top has just been blown off after years and YEARS of artificial PRICE SUPPRESSION in the silver markets most notably the COMEX by the likes of JPM.

35 is not that huge of an increase from the last suppression high in 2008 of 22. THen we hit 7 and gold hit 700. You will not see these numbers again unless the world gets itself out of debt and stops printing it away with more paper. Which rest assured is not happening any...

Not if the stock market sells off which is overdue. Who knows with the earthquake stuff it could be monday after a dire session in Asia. The SPX has been selling off recentley but people have seen it go up for so long they do not believe it can go down now. A lot of big wigs are going into cash, something is going to happen pretty soon if you take PIMCO as a tell tale sign.

Also silver still only costs 5 dollars to dig out of the ground and is selling for 36. I wish I could get profits like that in my business, so I do not buy into this price supression BS.


However, Xtrade I do agree it is a bad idea to pick a top but there are some signals coming through now with falling indexes that a correction in about almost everything is upon us.
  • #3,492
  • Mar 12, 2011 2:03pm Mar 12, 2011 2:03pm
Quoting forexcompoun
This is a sign of extreme weakness in silver. Check candle formed on weekly tf and Friday. 36.36 is the the resistance while 52ema on weekly tf is the next price attraction point. Again I repeat "A MAJOR BEAR MOVE HAS STARTED ON SILVER"
I would have liked to seen the bearish bar with a lower close, but it maybe good enough to trade. What do you consider a major bear move?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #3,493
  • Mar 12, 2011 2:21pm Mar 12, 2011 2:21pm
Quoting Euroscum
http://www.kitco.com/ind/hamilton/mar112011.html

I think everyone here should read this from yesterday to see historically what happens when every time Silver gets ahead of itself. This guy is almost 100% in cash now and is a bit of a silver geek.

Do not get caught up in the fairytale unless you want your face burned off with a blow torch. This is more relevant for people who want to buy phsyical at the current levels I guess, as paper you can dump anytime.
This is great news! Silver correcting to $24 could be one of the best buying opportunities. I'd be more then happy to ride silver down to $24 and then get back in for the ride to a new high.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #3,494
  • Mar 12, 2011 4:18pm Mar 12, 2011 4:18pm
Some people say on Monday silver and gold will go up.

Other people say silver and gold will go down on Monday.

It looks like nobody really knows what will happen and at this point this is a 50-50 chance, same as in the roulette. Period.
The Black Swan: The Impact of the Highly Improbable
  • #3,495
  • Mar 12, 2011 6:00pm Mar 12, 2011 6:00pm
Quoting MapleLeaf
Some people say on Monday silver and gold will go up.

Other people say silver and gold will go down on Monday.

It looks like nobody really knows what will happen and at this point this is a 50-50 chance, same as in the roulette. Period.
Nah, it just means you can win both ways in the short term.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #3,496
  • Mar 12, 2011 6:37pm Mar 12, 2011 6:37pm
Quoting MapleLeaf
Some people say on Monday silver and gold will go up.

Other people say silver and gold will go down on Monday.

It looks like nobody really knows what will happen and at this point this is a 50-50 chance, same as in the roulette. Period.
You don't need to know what will happen next to make money......
  • #3,497
  • Mar 12, 2011 7:03pm Mar 12, 2011 7:03pm
Quoting LasVahGoose
This is great news! Silver correcting to $24 could be one of the best buying opportunities. I'd be more then happy to ride silver down to $24 and then get back in for the ride to a new high.
Don't get me wrong, im short on silver right now, holding a lot of positions. That article presumes silver has topped, no definitive Price action yet. The question is how markets and the economic production of goods using silver is going to be.

Jewelry and Silverware are relatively stable. Industrial use should slim so that supply exceeds demand. Im expecting 34.85 for now (well ive been hinted by a friend towards that target today). Im not going to take the ride down but i will enjoy the ride up if it drops by 1/3rd.
  • #3,498
  • Mar 12, 2011 7:20pm Mar 12, 2011 7:20pm
Quoting Orbital
Don't get me wrong, im short on silver right now, holding a lot of positions. That article presumes silver has topped, no definitive Price action yet. The question is how markets and the economic production of goods using silver is going to be.

Jewelry and Silverware are relatively stable. Industrial use should slim so that supply exceeds demand. Im expecting 34.85 for now (well ive been hinted by a friend towards that target today). Im not going to take the ride down but i will enjoy the ride up if it drops by 1/3rd.
I read the same article and what I got from it was that Silver has gone parabolic and is going to correct. In the past when it has corrected it has done it hard and fast. A drop to $24 in a few weeks. BUT he says that Silver is still in Secular Bull market and this correction will be healthy and part of the secular bull cycle. The author is still bullish long term (years out) but for the short term there will be some pain.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #3,499
  • Mar 12, 2011 8:25pm Mar 12, 2011 8:25pm
Quoting LasVahGoose
I read the same article and what I got from it was that Silver has gone parabolic and is going to correct. In the past when it has corrected it has done it hard and fast. A drop to $24 in a few weeks. BUT he says that Silver is still in Secular Bull market and this correction will be healthy and part of the secular bull cycle. The author is still bullish long term (years out) but for the short term there will be some pain.
Yes well... on a long enough timeframe everything corrects. The trick is to understand where Supply exceeds Demand.

Im not really liking that article alltomuch or reading alltomuch into it. Saying that silver is likely to correct is like sitting in a dark room with no windows stating: The sun is eventually going to come up.

Its an obvious but useless fact if you see what im pointing at

Either way, im hoping for next weeks correction, Yen will cause major discorrelations and upsets in some of the trading pairs. Im moving to safer scalping opportunities in Oil Futures and currency pairs other than EU and GU

Although i am seeing a very good longterm bull setup, missed my entry by 40 pips though.
  • #3,500
  • Mar 13, 2011 12:47am Mar 13, 2011 12:47am
Lately there is so much noise on the lower Time Frames (TFs) that it could drive a seasoned trader mad.

We will have corrections and breakouts, trending, sideways movement and confusion. To see what the prevailing trend is it is always necessary to scale out to the higher TFs. H4 Daily Weekly. Day trading I use H1. I am moving away from scalping as the odds are not consistent enough unless you have an
iron will and the patience to watch the screen all day.

Don't chase the market. Let it come to you. Most of the time, even if you are a new trader your initial thought of entry is RIGHT. That does not mean if your entry is 60 pips lower you should always sell down to it, then buy.

Better off setting an order or two to get long or short where you and your thoughts are.

One does not ALWAYS need to be in the market, especially the FOREX market.

Not a rant, just some things I'd like to share now that we have some more contributers that I picked up along the journey of trading and buying and selling coins, bars, (AG /AU) and investment grade CU. I also hoard pennies.
Pre 1982.

All you have to do to decipher an 82 is the ping test. Flip the coin, if it pings, it's copper, if it doesn't it gets tossed back in the return jar.

A ten dollar move in gold these days is expected.

I am trying to step away from the in and out day trades.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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