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

  • #4,641
  • Apr 13, 2011 8:08am Apr 13, 2011 8:08am
Hi all,
for today the expected high for silver is 41.53
See chart attached happy trading!
Meshach.
Attached Image (click to enlarge)
Click to Enlarge Name: slv_high_13042011.gif Size: 19 KB
  • #4,642
  • Apr 13, 2011 8:14am Apr 13, 2011 8:14am
Coming up from 1451 and the tap of the intermediate trendline posted in my last chart - right now we are at 1461 - thus creating potential for the old 10 USD range between the two prices.

Lets take a look at todays news
http://www.forexfactory.com/

So far two differing retail sales numbers and business inventories coming up at 10:am that's it for the USD.

Id say if we can pop 1461 and rest above 1465 we are on track for continued rise.

As I had previously stated we are in a different price structure not than the steep Record highs and 100 USD drops - so far reflected in a minor and healthy 20/30 USD correction after the last record.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,643
  • Apr 13, 2011 8:18am Apr 13, 2011 8:18am
Quoting forexcompoun
I consider it note-worthy to state that I tried posting the low that silver would make but couldn't get through because of connectivity challenges.
Lets keep this off records anyway, the level to have bought silver from was 39.97
Its off records anyway.
Just to know that I ain't trying to find excuses you can check the 53 period ATR for silver on daily tf, mine shows me $1.05 price differential. Already today we had seen $1.03 price differential to the upside, so we could very well have started looking for opportunities to sell.
The high...
Here's the last post for yesterday. Those who dared buy at the low I specified should be $0.60 in profit now with even more to come.
Yeah, we sure had some drawdown from my entry ($0.26)
Let's see how well I fare. I'm loving this challenge!
Meshach
  • #4,644
  • Apr 13, 2011 8:19am Apr 13, 2011 8:19am
still no clear break from both sides

sideline best option untill a clear break
Attached Image (click to enlarge)
Click to Enlarge Name: gold 3.gif Size: 52 KB
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #4,645
  • Apr 13, 2011 8:20am Apr 13, 2011 8:20am
Gold hit today's hight at 1463 (so far) Let's if a fall is coming
  • #4,646
  • Apr 13, 2011 8:23am Apr 13, 2011 8:23am
That is quite untrue. People with differing opinions are what make a market.
Bulls and Bears.

Everybody is entitled to their opinion. Yet, the problems begin when people start to throw in wild punts and unsubstantiated claims.

I have gotten several complaints about what has been going on. On behalf of those members and myself, ( I have put a LOT of my time and effort into posting here) I made the announcements I did.

Before you started posting here there was a set of rules established and some people were banned due to consistent and sometimes ludicrous posts and claims, without any backup. Not even a chart or a fundamental reason.

What people want is to learn from one-another and share information.

What people don't want is bickering between members, name calling, and posts that are nonsense.

I think you can agree.

All people newbies and experienced traders are welcome.

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




Quoting Euroscum
Excuse me God, but it sounds like anyone who has a differing opinion is an asshole. I have backed up my silver claims with interesting research on silver tops that I have posted for an alternative view. I also post charts of pullbacks on highs.

I think you are getting a bit high and mighty and ahead of yourself. If someone states a reason why and gives some evidence you cannot call them noobs who know nothing. Guru posts like that guy yesterday predicting silver at a certain level because he is clairvoyant are funny and deserve to be mocked...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,647
  • Apr 13, 2011 8:38am Apr 13, 2011 8:38am
Quoting Dolph
I had to save it as 16bit bitmap in MS Paint first.

Here is the chart i should have posted yesterday to support my post......
If you scroll down below the box you type a reply in you will see a button "Manage Attachments", click on it, browse to the spot you saved image (I prefer desktop for easy locating), and upload it.

Then once you have finished post and send to FF your image will be included in your post and not attached. More will see it that way than having to click link, never know what you might find.
  • #4,648
  • Apr 13, 2011 8:57am Apr 13, 2011 8:57am
Looks like there were some resting orders in line with the high, then the next lower High and for now a third lower high.

Price is consolidating a bit between the two lines. If it get's squeezed tight enough we should see a breakout. As the trend remains Up I am favorable to a topside break, yet there is always the possibility of further correction when we are lingering around all time highs.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,649
  • Apr 13, 2011 9:01am Apr 13, 2011 9:01am
Quoting XTrade
That is quite untrue....
Well said XTrade you took the words right out of my mouth. I could not agree more.
  • #4,650
  • Apr 13, 2011 9:03am Apr 13, 2011 9:03am
Yanks have given us the signal

stoploss@1461

TP@1435
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #4,651
  • Apr 13, 2011 9:04am Apr 13, 2011 9:04am
Well, today's correction has already started. TL 1445...
  • #4,652
  • Apr 13, 2011 9:21am Apr 13, 2011 9:21am
Quoting Fmfx
Well, today's correction has already started. TL 1445...
TL? Take Loss?

I think right now it is more of consolidation than correction.
  • #4,653
  • Apr 13, 2011 9:23am Apr 13, 2011 9:23am
Quoting Fmfx
Well, today's correction has already started. TL 1445...
How about continuing. It started two days ago.
  • #4,654
  • Apr 13, 2011 9:29am Apr 13, 2011 9:29am
hi beeb,

could you please give some comments on the following text? It's from Harvey Organ. It sounds quite fantastic

"Get a load of this next data. The estimated volume today was a totally unheard of 121,269 contracts. This total in oz is 606,345,000 oz of silver. In annual silver production this is about 100% if you exclude China's production. If you include China then it represents 86.6% of annual global silver production in one day. And this bourse is not the biggest in silver, that belongs to the LBMA over in London England."

Is it true?
"The reason I was born and came into the world is to testify to the truth."
  • #4,655
  • Edited 9:51am Apr 13, 2011 9:39am | Edited 9:51am
Quoting harvest3r
hi beeb,

could you please give some comments on the following text? It's from Harvey Organ. It sounds quite fantastic

"[b][i]Get a load of this next data. The estimated volume today was a totally...

London is the biggest market - google is your friend
Off the top of my head I seem to remeber the average DAILY gold traded in London in 2008 was about 22 million ounces though I believe that is subject to netting out so the real figure could be multiples of that......don't quote me though.

beeb
  • #4,656
  • Apr 13, 2011 9:56am Apr 13, 2011 9:56am
Quoting SunTrader
How about continuing. It started two days ago.
Let's see
  • #4,657
  • Apr 13, 2011 9:58am Apr 13, 2011 9:58am
rejected again

nice demand @ 1456
Attached Image (click to enlarge)
Click to Enlarge Name: gold 3.gif Size: 52 KB
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #4,658
  • Edited 11:19am Apr 13, 2011 10:11am | Edited 11:19am
Quoting beeb
London is the biggest market - google is your friend
Off the top of my head I seem to remeber the average DAILY gold traded in London in 2008 was about 22 million ounces though I believe that is subject to netting out so the real figure could be multiples of that......don't quote me though.

beeb
Hi beeb

The 5 minute fork for silver I posted earlier today seems to be working nicely. It is not pin point accurate but hell it is not bad for a beginner I think.
Made a few pips chasing price up and down. I don't really like this, it is too nerve racking but it has shown these forks are valid and not a Guy Fawkes only fit for the bonfire (British English pun).
Attached Image (click to enlarge)
Click to Enlarge Name: 5minsi.PNG Size: 21 KB
  • #4,659
  • Apr 13, 2011 10:13am Apr 13, 2011 10:13am
looks like the Loch Ness Monster to me lol

i'm glad they're working for you....have been fairly quiet today watching how things flow. still holdings longs from yesterday with stops above b/e - as I think I said, I'd like to see more closes/strength above the old March high of 1448 to give positive direction...

beeb
  • #4,660
  • Apr 13, 2011 10:47am Apr 13, 2011 10:47am
here are the LBMA stats - i think i was pretty close



http://www.lbma.org.uk/pages/index.c...tistical_table

beeb
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