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

  • #7,021
  • Jun 7, 2011 4:53pm Jun 7, 2011 4:53pm
looks like the markets shrugged off the goose bags speech.

Xtrade - do you think we are going to see the breakout to the north side any time soon? it's getting quite top heavy, every time it reaches 1547 it gets punched down so quickly

Mitch
  • #7,022
  • Jun 7, 2011 6:19pm Jun 7, 2011 6:19pm
Not a smart move
.

Quoting mmudasir
i am shorting again at 1542.80 now waiting for 1529 take profit
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,023
  • Jun 7, 2011 6:21pm Jun 7, 2011 6:21pm
"Federal Reserve Chairman Ben S. Bernanke said the central bank should maintain record monetary stimulus to boost an “uneven” and “frustratingly slow” economic recovery. “The economy is still producing at levels well below its potential; consequently, accommodative monetary policies are still needed,” Bernanke, 57, said today in a speech to a conference in Atlanta. “Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established.” Recent data showing weakness in the economy, including a rise in the unemployment rate to 9.1 percent in May, has increased the odds the ... e Fed will hold the benchmark interest rate near zero into next year. Bernanke said growth is likely to pick up in the second half of the year as fuel prices recede and disruptions of parts supplies dissipate as factories in Japan recover from an earthquake and tsunami.
“Overall, the economic recovery appears to be continuing at a moderate pace, albeit at a rate that is both uneven across sectors and frustratingly slow from the perspective of millions of unemployed and underemployed workers.”
Treasury two-year note yields dropped two basis points, or 0.02 percentage point, to 0.4 percent at 4 p.m. in New York, the lowest level this year. The dollar fell against most of its major counterparts, with the yen reaching the strongest level against the greenback in a month. The Standard & Poor’s 500 Index fell 0.1 percent to 1,284.94 after rallying as much as 0.8 percent.
.....

GOLD RISING BACK ABOVE 1545
http://www.bloomberg.com/news/2011-0...-recovery.html
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,024
  • Jun 7, 2011 6:22pm Jun 7, 2011 6:22pm
I made some TA on silver. In first day of august there will be opportunity to buy silver at 30-31 dollars/Oz. And then till summer of 2012 price will be about 60 dollars US. And that is my modest prediction, price should be way up...
  • #7,025
  • Jun 7, 2011 6:25pm Jun 7, 2011 6:25pm
The current dip line on the working UPTREND TL is would only give you maybe 32. Looking to 1556.....

THe price reversed on a TAP on the H4 chart of the inside blue TL posted earlier by myself.

Quoting XTrade
Not a smart move
.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,026
  • Jun 7, 2011 6:27pm Jun 7, 2011 6:27pm
It's just range trading and sideways movement.

The speech was not at all encouraging and we know the numbers suck.

There is no reason to sell. Summer can be slow.

If anything I will look to channel top next. We hit bottom before and this is acknowledgment that the US growth is struggling and at a snails pace.

From the Fed Man himself.

Quoting Mitchoss
looks like the markets shrugged off the goose bags speech.

Xtrade - do you think we are going to see the breakout to the north side any time soon? it's getting quite top heavy, every time it reaches 1547 it gets punched down so quickly

Mitch
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,027
  • Jun 7, 2011 6:52pm Jun 7, 2011 6:52pm
I'm just a bit worried as the daily pivot is 1547 ish, and it just cant seem to ramp up and get above it for any reasonable amount of time.

i'm holding a long from S2 @ 1538. would you recommend closing them at the pivot point for now? and buying dips until we get a breakout?

Mitch

Quoting XTrade
It's just range trading and sideways movement.

The speech was not at all encouraging and we know the numbers suck.

There is no reason to sell. Summer can be slow.

If anything I will look to channel top next. We hit bottom before and this is acknowledgment that the US growth is struggling and at a snails pace.

From the Fed Man himself.
  • #7,028
  • Jun 7, 2011 7:06pm Jun 7, 2011 7:06pm
Quoting XTrade
The current dip line on the working UPTREND TL is would only give you maybe 32. Looking to 1556.....

THe price reversed on a TAP on the H4 chart of the inside blue TL posted earlier by myself.

see four hour chart again and daily chart xtrade we are going north.i will post chart after some hours

as i said in my last post if the gold will breach the level of 1548 then i will add buying actually in bernake speach it has gone to high of 1547.65 in my chart and got rejected.
as my analysis we are going to north.in long term we are up side.but at this moment we are going down .
Trading by EA
  • #7,029
  • Jun 7, 2011 7:33pm Jun 7, 2011 7:33pm
I see those nice candles, indicating north action. It just wont take off. not sure what its waiting for..

Quoting mmudasir
see four hour chart again and daily chart xtrade we are going north.i will post chart after some hours

as i said in my last post if the gold will breach the level of 1548 then i will add buying actually in bernake speach it has gone to high of 1547.65 in my chart and got rejected.
as my analysis we are going to north.in long term we are up side.but at this moment we are going down .
  • #7,030
  • Jun 7, 2011 8:17pm Jun 7, 2011 8:17pm
man the DJ is being beaten down pretty violently. it could take metals with it. be carefull guys.

broken through strong supports
  • #7,031
  • Jun 8, 2011 1:52am Jun 8, 2011 1:52am
Still holding on my long XAG @37.10 (too early entrance!)
holding on my long XAU @1545 (hm!)

t/p silver at 38.xx......xau @1555. I like a bigger LOT but less than 100 pips profit. what do u call me? medium scalper?
trading is my zen
  • #7,032
  • Jun 8, 2011 2:32am Jun 8, 2011 2:32am
next support is 1534.00 i m still holding short from 1542.80
Trading by EA
  • #7,033
  • Jun 8, 2011 2:33am Jun 8, 2011 2:33am
if the gold is break the resistance of 1534 then we will see the 1509 area for support
Trading by EA
  • #7,034
  • Jun 8, 2011 2:36am Jun 8, 2011 2:36am
Quoting ShirleyLo
Still holding on my long XAG @37.10 (too early entrance!)
holding on my long XAU @1545 (hm!)

t/p silver at 38.xx......xau @1555. I like a bigger LOT but less than 100 pips profit. what do u call me? medium scalper?
you are not a scalper you are just flushing your money..take a lesson of risk and reward please it will helpfull to you.just place stops it can protect your self your emotions your funds
Trading by EA
  • #7,035
  • Jun 8, 2011 2:41am Jun 8, 2011 2:41am
now its ion 1534 now see if it will breach that support then we see 1509 area..
Trading by EA
  • #7,036
  • Jun 8, 2011 2:42am Jun 8, 2011 2:42am
if the gold is not break the support of 1533 now then i will add long and take profit of short of 1542.80
Trading by EA
  • #7,037
  • Jun 8, 2011 3:00am Jun 8, 2011 3:00am
if the gold now break the 1540 level to upside then we can say short term correction has been completed..and remmember if it break the 1533 level then it can go 1509 level ..i think we have a good nice opertunity to go long i will see that level to buy if support not breach
Trading by EA
  • #7,038
  • Jun 8, 2011 3:22am Jun 8, 2011 3:22am
check chart
Attached Image (click to enlarge)
Click to Enlarge Name: chart gold.gif Size: 24 KB
Trading by EA
  • #7,039
  • Jun 8, 2011 5:19am Jun 8, 2011 5:19am
Quoting ShirleyLo
. what do u call me? medium scalper?
don't worry on that so much
  • #7,040
  • Jun 8, 2011 5:39am Jun 8, 2011 5:39am
i m going long at 1533
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