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

  • #4,921
  • Apr 20, 2011 5:09am Apr 20, 2011 5:09am
Quoting six gun
Either.
Do you have chart signs to say this will happen with a high probability?
here is the chart again showing the 261
Attached Image (click to enlarge)
Click to Enlarge Name: gold 3.gif Size: 48 KB
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #4,922
  • Apr 20, 2011 5:21am Apr 20, 2011 5:21am
What is the probability if a sell off in the near future..?
  • #4,923
  • Apr 20, 2011 5:23am Apr 20, 2011 5:23am
Quoting Pratik
What is the probability if a sell off in the near future..?

just have a stoploss in place and dont worry too much about the selloff
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #4,924
  • Apr 20, 2011 5:26am Apr 20, 2011 5:26am
Quoting blue_z_zz
here is the chart again showing the 261
Ok you have plotted your fib from a support level which was first confirmed in October 2010.
The 100% is a support level now.

If price breaks through and closes above the 161% then this might become support.

The next commonly used fib level takes us above the 1600's.

Exactly when that might happen is anyone's guess.

As I say gold was messing around 1400 for months.
  • #4,925
  • Apr 20, 2011 5:32am Apr 20, 2011 5:32am
Quoting six gun
Ok you have plotted your fib from a support level which was first confirmed in October 2010.
The 100% is a support level now.

If price breaks through and closes above the 161% then this might become support.

The next commonly used fib level takes us above the 1600's.

Exactly when that might happen is anyone's guess.

As I say gold was messing around 1400 for months.
my asumtion its going to happen before the end of june ( maybe in may)the markets will bush prices agianst the dollar until the fed confirms the end of QE

any extention of QE will blow metals to the roof
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #4,926
  • Apr 20, 2011 6:38am Apr 20, 2011 6:38am
with both at daily highs the queestion is will there be a breakout ?
eyes open @ 1506 and 44.75.
  • #4,927
  • Apr 20, 2011 6:55am Apr 20, 2011 6:55am
Quoting six gun
Always good to buy on the dips.
Ha, what dips in silver Straight line
  • #4,928
  • Apr 20, 2011 7:27am Apr 20, 2011 7:27am
Quoting lilpip
weekly chart
1501 as the highs
daily chart
1507 as highs
being that were on the north side of (1490),
once we break 1501-07 or a weekly close above 1490 it wouldnt surprise me that we take off to 1551.
1506-7 noted and bounce down to 1501 noted .
eyes open.
  • #4,929
  • Apr 20, 2011 7:39am Apr 20, 2011 7:39am
Quoting Fmfx
My guess is this forum will be a bit quiet when the big reversal comes in in the not too distant future
myself, I cant wait to add more.
  • #4,930
  • Apr 20, 2011 7:42am Apr 20, 2011 7:42am
Quoting lilpip
myself, I cant wait to add more.
Do not think it matters too much. The talk will be how far, what resistance points and so on.
  • #4,931
  • Apr 20, 2011 7:50am Apr 20, 2011 7:50am
Merely just working in 15s, 25s and 50's
gold tends to respect them and people have a tendency to rest orders above and below the 1500 BRNs for example b/c as we can see they don't really provide significant resistance.

The price will likely pass clean through 1500 several times today. Unless we catch a nice break.

I have to run out, but will take my machine with me and try to pop in. Unless I can get my phone to post....

All open trades. are Against the USD
I'm LONG
EUR, AUD, GBP/ USD and GBP/ GPY, Short USD CHF, Short USD /CAD/ Long NZD/USD.

Look for some corrections and BUY DIPS.

USD is going down fellas....

Quoting lilpip
what is it that makes 1515 stand out to you ?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,932
  • Apr 20, 2011 7:52am Apr 20, 2011 7:52am
Obviously Long GOLD and SILVER. I am pissed I had two hefty scalps on and took profit of only 300 pips. in and out.

Still holding all core positions. No load lightening only buying dips.

Target is 2000. Ultimate BRN for now.

Long oil brent and WTI on demo only.'
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,933
  • Apr 20, 2011 7:56am Apr 20, 2011 7:56am
A bit off topic but one thing I did notice in the USD's favour on Monday's risk off trade was how it rallied. To me that says it has not lost its safe haven status as yet when the shit hits the fan people still flee to the usd,chf and jpy.
  • #4,934
  • Edited 8:59am Apr 20, 2011 7:58am | Edited 8:59am
Quoting Euroscum
Do not think it matters too much. The talk will be how far, what resistance points and so on.
thats what we do when we want to know where we are at in the trends and cycles within cycles, we listen to what the girls have to say and follow them on the charts.
Every 5,15,30min.1,4,hr.daily,weekly,monthly,quarterly,yearly.
  • #4,935
  • Apr 20, 2011 8:36am Apr 20, 2011 8:36am
Quoting kotlt
Anyone have same my chart? Why price can up/down like this in just one minute???
I use demo account and MetaTrader4
Typical MT4 free data "mystery spike".
  • #4,936
  • Apr 20, 2011 9:37am Apr 20, 2011 9:37am
$45 silver with no meaningful retrace
  • #4,937
  • Apr 20, 2011 9:47am Apr 20, 2011 9:47am
Quoting Euroscum
$45 silver with no meaningful retrace
meaning.....? a meaningful retracement should 'LOGICALLY' be due ?

I have missed the silver boat. I wish to see it have DEEP correction, before going in for the LAST LONG before the exponential move to $100 and beyond
  • #4,938
  • Apr 20, 2011 9:51am Apr 20, 2011 9:51am
Quoting hareanone
meaning.....? a meaningful retracement should 'LOGICALLY' be due ?

I have missed the silver boat. I wish to see it have DEEP correction, before going in for the LAST LONG before the exponential move to $100 and beyond

Logic, I suppose you could say that along with a bunch of other indicators. Logic does not count for much in a bull market like this. Give it days, a few weeks at the most.
  • #4,939
  • Apr 20, 2011 9:55am Apr 20, 2011 9:55am
Quoting Euroscum
Logic, I suppose you could say that along with a bunch of other indicators. Logic does not count for much in a bull market like this. Give it days, a few weeks at the most.
Ok I am with you on this 'illogical' silver bull. April 27th Ben Bernarke will give a speech (or something ?) and this might be the event which will trigger the correction.
  • #4,940
  • Apr 20, 2011 9:59am Apr 20, 2011 9:59am
The Gold and Silver Bull markets are just getting started (for the common man on the street). Some of you are going to be in a world of pain for years as we go into the triple digits in Silver.
Don't wish it were easier, wish you were better. ~ Jim Rohn
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