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

  • #5,881
  • May 5, 2011 5:42am May 5, 2011 5:42am
i calculated bounce from 1490~1495 through 1510
nice buying entry for short term scalpers

Quoting khizer
1490
Trade what you see, Not what you think.
  • #5,882
  • May 5, 2011 5:49am May 5, 2011 5:49am
where will silver stop.

this is crazy.
  • #5,883
  • May 5, 2011 5:54am May 5, 2011 5:54am
Quoting Nomi1
where will silver stop.

this is crazy.
We are at last moving into territory where support/resistance exists on the silver chart.

Might not mean much but on the way up price was rejected at $36.50 and found support there having moved through this level.

There is also some support/resistance at $37.00.

Its catching a falling knife, but someone will in the end.
  • #5,884
  • May 5, 2011 5:58am May 5, 2011 5:58am
Silver has now lost one quarter of its value from the high. I wonder how deep this correction wants to go? Long term it must be getting close to a bargain.
  • #5,885
  • May 5, 2011 5:59am May 5, 2011 5:59am
Quoting Nomi1
where will silver stop.

this is crazy.

No, 18 to 50 usd in 8 months was crazy.
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  • #5,886
  • May 5, 2011 6:08am May 5, 2011 6:08am
wow, they are in free fall..

I would not worry for gold yet, but those who are long silver, well I would put an eye there.

thursdays and fridays are usually green days, so let's see what happens today. If we have another red ugly day, then I would start looking into silver.
The Black Swan: The Impact of the Highly Improbable
  • #5,887
  • May 5, 2011 6:09am May 5, 2011 6:09am
Hello $1400s...
  • #5,888
  • May 5, 2011 6:11am May 5, 2011 6:11am
Some people went long GOLD in 1540 thinking it was the week low and then would resume the long trend, but it kept falling.

Some people went long GOLD in 1530 thinking it was the week low and then would resume the long trend, but it kept falling.

Some people went long GOLD in 1510 thinking it was the week low and then would resume the long trend, but it kept falling.

Some people are now long GOLD in 1500 thinking it is the week low and it will then resume the long trend, let's see what happens.
The Black Swan: The Impact of the Highly Improbable
  • #5,889
  • May 5, 2011 6:17am May 5, 2011 6:17am
lol
about me i am on corection.
i am trading with in mind it will be 1400.
even i know it may be touch 1400 i m on long side.

Quoting MapleLeaf
Some people went long GOLD in 1540 thinking it was the week low and then would resume the long trend, but it kept falling.

Some people went long GOLD in 1530 thinking it was the week low and then would resume the long trend, but it kept falling.

Some people went long GOLD in 1510 thinking it was the week low and then would resume the long trend, but it kept falling.

Some people are now long GOLD in 1500 thinking it is the week low and it will then resume the long trend, let's see what happens.
Trade what you see, Not what you think.
  • #5,890
  • May 5, 2011 6:33am May 5, 2011 6:33am
Great example of when fundamentals and technicals do not work: USD

Glad I went long USD on several crosses last week when pretty much everyone was beating the greenback and praising the commodities, AUD, EUR, and everything else but USD...
  • #5,891
  • May 5, 2011 6:34am May 5, 2011 6:34am
Quoting MapleLeaf
Some people went long GOLD in 1540 thinking it was the week low and then would resume the long trend, but it kept falling.

Some people went long GOLD in 1530 thinking it was the week low and then would resume the long trend, but it kept falling.

Some people went long GOLD in 1510 thinking it was the week low and then would resume the long trend, but it kept falling.

Some people are now long GOLD in 1500 thinking it is the week low and it will then resume the long trend, let's see what happens.
Some people don't use technical analysis.....
Some people ignore NFP.....



beeb
  • #5,892
  • May 5, 2011 6:36am May 5, 2011 6:36am
Second reminder: tomorrow there is NFP

ops... beeb was faster
"The reason I was born and came into the world is to testify to the truth."
  • #5,893
  • May 5, 2011 6:56am May 5, 2011 6:56am
Got stoped out on my other 3 trades.

Taking a few scalps from 1500, waiting for PA.

Superb trading day, i've lost some money but i'm still enjoying it

In the long run, I reckon this sell off will be a gift.

Stay safe guys
  • #5,894
  • May 5, 2011 7:05am May 5, 2011 7:05am
Just goes to show you all the handwringing about the dramatic decline in silver and less so in gold that most retail traders go long only.

I didn't go short either but I have no problem with the move.
  • #5,895
  • Edited 8:39am May 5, 2011 7:22am | Edited 8:39am
Re: Gold

Will have to see if the WLs (Warning Lines) give another tell. L-MLHs of the red fork held price well. Lower blue arrow shows an attempt to test previous (potential) support as resistance (blue HL)this time, but sellers got on at the WL Lots more news to come as well. Could edge lower...time will tell for sure.

Before and After posted.

FX4
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Trade what you see, not what you think or feel. Let the market come to you.
  • #5,896
  • May 5, 2011 7:31am May 5, 2011 7:31am
Quoting Bemac
Yeah... I guess I'm still feeding with the Bulls.
BMc
Here is one for you Bemac. Price High 49.77 - ICCE 100% 49.73 5 pip difference, that is pretty much to the pip as far as I'm concerned. Curve fitted after the fact? Yeah, I guess one could say that, but the map looks pretty clear. Back to channel. Just a matter of getting some price action at these levels, maybe even down at 38%. Waiting...

.
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,897
  • May 5, 2011 7:40am May 5, 2011 7:40am
whats wrong with usd the Unemployment Claims news isnt it bad ..

And why dollar and metals both rising ?
MMMYYYKKK
  • #5,898
  • May 5, 2011 7:49am May 5, 2011 7:49am
Quoting myk
whats wrong with usd the Unemployment Claims news isnt it bad ..

And why dollar and metals both rising ?
Maybe price already accounted for it. That's one reason some traders don't pay attention to the news. Perhaps XTrade or Beeb or some of the more experienced traders have another answer. I would also like another take on this. Or...maybe the market is getting into position for when Bernanke speaks...giving room for the dollar to fall...don't know.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #5,899
  • May 5, 2011 7:55am May 5, 2011 7:55am
hope you guys injoyed this move

Quoting khizer
i calculated bounce from 1490~1495 through 1510
nice buying entry for short term scalpers
Trade what you see, Not what you think.
  • #5,900
  • May 5, 2011 7:55am May 5, 2011 7:55am
Amazing, Trichet speaks and drops the Euro, helping the USD which just came out with some pretty Abominable numbers esp. UNEMPLOYMENT....
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