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

  • #7,001
  • Jun 7, 2011 10:09am Jun 7, 2011 10:09am
Euro Gunning for 4700 Break.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,002
  • Jun 7, 2011 10:09am Jun 7, 2011 10:09am
moved my SL from 1535 to break even at 1543.

at the time the setup was looking good to break through the 1550 barrier.

Mitch
  • #7,003
  • Jun 7, 2011 10:14am Jun 7, 2011 10:14am
This is my silver chart. Catch the move this day, let see how price action.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 29 KB
Keep Simple...!
  • #7,004
  • Jun 7, 2011 10:20am Jun 7, 2011 10:20am
Gold ticking down. Could be a good entry long off the 50 sma on H4.

If you are skeptical then wait.

I am long from below. But watching to see what happens here.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,005
  • Jun 7, 2011 10:21am Jun 7, 2011 10:21am
Quoting Mitchoss
moved my SL from 1535 to break even at 1543.

at the time the setup was looking good to break through the 1550 barrier.

Mitch
dont use SL - buy n hold
--------------------
  • #7,006
  • Jun 7, 2011 10:23am Jun 7, 2011 10:23am
my t/p wasn't hit (38.00), bought at 36.80 and closed at 37.40. bought another one at 37.00, contemplating to buy more right about now,,or should i wait?

euro is too crazy, won't dare trading much of it..for now. maybe I'll go for short @47.xx
trading is my zen
  • #7,007
  • Jun 7, 2011 10:33am Jun 7, 2011 10:33am
Most likely some profit taking from LDN and Europe.

I wouldn't get to worried unless it breaks 1530
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,008
  • Jun 7, 2011 10:59am Jun 7, 2011 10:59am
i am the winner today sell was at 1548.15 with stoploss 1555.15 take profit 1537.50

nice day today
Trading by EA
  • #7,009
  • Jun 7, 2011 10:59am Jun 7, 2011 10:59am
Obama and German Chancellor talking right now on CNBC
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,010
  • Jun 7, 2011 11:06am Jun 7, 2011 11:06am
Quoting XTrade
Gold ticking down. Could be a good entry long off the 50 sma on H4.

If you are skeptical then wait.

I am long from below. But watching to see what happens here.

hi xtrade

i wanna know how you see have to we are going more up side please post charts
see my last posted chart gave signal to short at the 1548 area
Trading by EA
  • #7,011
  • Jun 7, 2011 11:13am Jun 7, 2011 11:13am
German Chancellor sounding strong about Euro and the responsibility of other Countries in the EUzone to support one another.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,012
  • Jun 7, 2011 11:35am Jun 7, 2011 11:35am
No problem Give me a few,
Quoting mmudasir
hi xtrade

i wanna know how you see have to we are going more up side please post charts
see my last posted chart gave signal to short at the 1548 area
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,013
  • Edited 12:20pm Jun 7, 2011 11:50am | Edited 12:20pm
Firstly here is the long term trend channel WEEKLY.

You can see it goes back 3 years. * edit = actually it goes back 10 years in trend

Quoting mmudasir
hi xtrade

i wanna know how you see have to we are going more up side please post charts
see my last posted chart gave signal to short at the 1548 area
Attached Image (click to enlarge)
Click to Enlarge Name: gold weekly chan June 7th.GIF Size: 39 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,014
  • Jun 7, 2011 12:09pm Jun 7, 2011 12:09pm
Not a bad short. But the trend is up. When you closed your scalp I bought mine. Plus I am riding other positions. 10 USD swings are common and are not of much concern to me.

Current channel inside of Weekly channel for Day trading.
And today's chart.

Obviously there is always potential of a further dip and test of lower supports.
However I don't trade Gold much against the trend. I'll scalp short sometimes if it looks good for 5 or 10....

I prefer scaling in and riding longs for appx $100 USD moves if not more.
You may pick up a short for
80 south after Gold makes another new high but then it gets wiped out by the bulls. There is more money to be made trading with the grain than against it.

If the mini channel breaks it's no big deal, just look to supports and MA's for entries and re- plot TA. read news and re- position.


Quoting mmudasir
hi xtrade

i wanna know how you see have to we are going more up side please post charts
see my last posted chart gave signal to short at the 1548 area
Attached Image (click to enlarge)
Click to Enlarge Name: Gold today June 7.GIF Size: 56 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,015
  • Jun 7, 2011 12:31pm Jun 7, 2011 12:31pm
xtrade what you expected in bernake speach is can push up to gold?thank you for replying my all questions

if the gold will now again breach the 1548 area the i will add long.then i will say short term correction has been complete

xtrade but i my analysis tell me the correction of the gold is not completed yet it will take time and we see again 1506 area and may b this level is more suitable for go long but its all depend on time and pattren
Trading by EA
  • #7,016
  • Jun 7, 2011 12:52pm Jun 7, 2011 12:52pm
i am shorting again at 1542.80 now waiting for 1529 take profit
Trading by EA
  • #7,017
  • Jun 7, 2011 1:07pm Jun 7, 2011 1:07pm
Quoting XTrade
Wait a sec, you are holding SHORT GOLD from 1487??

And what reason do you have for a 10 USD drop in silver. Not likely in the near future IMO.

???
Rookie mistake on the gold tried a scalp and it scalped me

you misunderstood my silver I am at a loss of $25 not looking for silver to go to 25.....Closed out the silver

sitting on the gold hope it will go a little lower before I close at a loss but will open some buys and hopefully get a ride back up to cover losses... The trend is up for sure
  • #7,018
  • Jun 7, 2011 1:16pm Jun 7, 2011 1:16pm
Quoting dryclean
Rookie mistake on the gold tried a scalp and it scalped me

you misunderstood my silver I am at a loss of $25 not looking for silver to go to 25.....Closed out the silver

sitting on the gold hope it will go a little lower before I close at a loss but will open some buys and hopefully get a ride back up to cover losses... The trend is up for sure
that why my motto is always using stops because stops can protect you only your whole funds.remember always using stop because one bad trade can eat you all profitable trades thats why manage your risk and use stop and take profit always like me like every professional.i think you must have got a lesson from those bad trades
Trading by EA
  • #7,019
  • Jun 7, 2011 1:18pm Jun 7, 2011 1:18pm
now going to bed to sleep happy trading to all of you best of luck specially for xtrade
Trading by EA
  • #7,020
  • Jun 7, 2011 1:22pm Jun 7, 2011 1:22pm
It's hard to say. Sometimes there is movement beforehand in anticipation of what he might say, which could be wrong or rite.

The bottom line is the numbers speak for themselves and the majority are poor/

Efforts that Obamanarke have taken have not "done what they had liked or "expected" for the job markt"

I am leaning towards it helping the price. Yet, as with any news release, I think beeb had said, "sometimes reactions in price happen that just don't make sense.

IMO, talk is cheap. They have been blabbing on and on about what they are going to do and have done and things are not better, thus, I doubt he will have much of a negative affect.

If you are unsure, then don't enter.

If you see a breakout hop on and ride till it dies down.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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