XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #7,981
- Jul 13, 2011 7:04pm Jul 13, 2011 7:04pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
- #7,982
- Jul 13, 2011 7:06pm Jul 13, 2011 7:06pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
Just for old times sake! 
look at those digits!
look at those digits!My bullish supports of the 1100 area have been breached.
I rode the train down after a failed attempt to reclaim this area.
Thus I am slightly bearish ATM.
We are now bouncing off a stronger, yet slightly lower,
(YET more important) support level @ 1089
I have reversed shorts to longs (@1091) as of now with an immediate first TP of
TP 1 - 1096
possible TP 2 - 1100 (Support area now acting as resistance)
Using trailing stops if possible of 150 to 200 pips.
SL just below 1089 to 8
It is possible we re-test...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #7,984
- Jul 13, 2011 7:25pm Jul 13, 2011 7:25pm
@XTrade, you are totally right. The USD is not working with this setup as well, because of QE3.
I'm outta here again, no market for me.
Sunny Thursday, out for a tan not a trade! next Rs are on graph. Too bullish for my MT4 to view anywhere above 1590!!! keeps touching upside of everything - bollinger, fork, dadidada... I'd be surprised if it doesn't make any downward correction once it hits 1600, per usual not recommending shorting on gold. any down correction is a good time to buy, preferably after a damn sharp one!
trading is my zen- #7,985
- Jul 13, 2011 7:39pm Jul 13, 2011 7:39pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
If you put the cursor on the side where the prices are and slide down the MT4 chart will squeeze in = Shi-LO
Try it!
Try it!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
For there to be a double top - there would have had to have been resistance at the second matching high that threw the price into a sideways to down motion.
Instead it got plowed through.
For the 10000th TIME - YOU WILL MAKE MORE MONEY BUYING GOLD IN A STRONG UP TRENDING MARKET THAN YOU WILL TRYING TO PICK TOPS AND SCALP.
I don't care anymore, I have devoted almost all my posts and hours to this thread since we were at 1050 YES 1050
NOW 500 USD later and we are still arguing about this big correction???
Don't...
We have seen many times here before, every time the gold price drops for more than $30 (yes, only 30!) you among other always bulish gold dudes do not show up or post for several days and it is apparent why.
It would be fun to watch gold next Monday when the new Dodd-Frank will be in effect.
Oh, and BTW, I am still holding my long golds from 1387 -
- #7,987
- Jul 13, 2011 9:01pm Jul 13, 2011 9:01pm
If you put the cursor on the side where the prices are and slide down the MT4 chart will squeeze in = Shi-LO
Try it!
In other seriousness: I remember I told u u can always buy twice bigger lots after taking the euro profit if u think it's still bullish. How hard? It's never too late to enter if you ARE REALLY sure about its bullishness.
I bought 1 lot of gold at 1502, 1 more at 1525, 1 more at 1528 , and then 2 lots at 1515. profit taking all at 1540. adding 1 lot at 1544, 2 lots at 1555, and 3 lots at 1560. Profit taking at 1570. It's money management - I know where I should take my profit, I know when to stop loss, and I know how much margin is my maximum usage.
Now I sit and wait. or out for a tan. I did have a cut loss on my GBP buying last week.
My ways of trading might not work for you. This quote might not work for everyone: "If you mix leverage and ignorance, you get pretty interesting results"
Surprise...I got my 1st and 2nd (hopefully the last) margin call 2 years ago just because I hold on to my principle of making 200 pips/day on 2 lots max.
I love my leverage, works for me, maybe if u prefer 300 pips profit with 1 lot, well, it might not work for me
trading is my zen- #7,988
- Jul 13, 2011 9:48pm Jul 13, 2011 9:48pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #7,989
- Jul 13, 2011 10:08pm Jul 13, 2011 10:08pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
If you put the cursor on the side where the prices are and slide down the MT4 chart will squeeze in = Shi-LO
Try it!
Left Click on the Price Scale & Drag Down to squeeze.
Double Click Price Scale to Reset.
Here's another one or two:
Click the Mouse wheel while hovering over the Chart... Crosshairs.
While you have Crosshairs, Click Any Price (perhaps a Low) without releasing the Mouse, Drag it to any other Price (perhaps a High) Read the small print beside the cursor... # of Bars/ Pip Diff /Cursor Price
B
- #7,990
- Jul 13, 2011 10:20pm Jul 13, 2011 10:20pm
I'm, with you , Mr!
next Rs are on graph. Too bullish for my MT4 to view anywhere above 1590!!! keeps touching upside of everything - bollinger, fork, dadidada... I'd be surprised if it doesn't make any downward correction once it hits 1600, per usual not recommending shorting on gold. any down correction is a good time to buy, preferably after a damn sharp one!
lol.. so true... this gold bull is going to break even the MT4 interface for going to heaven non-stop.. it looks like nothing will stop this beast.
I also wonder if there are any heavy sell orders above 1600...
The Black Swan: The Impact of the Highly Improbable
- #7,991
- Jul 13, 2011 10:58pm Jul 13, 2011 10:58pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #7,996
- Edited 4:35am Jul 14, 2011 2:49am | Edited 4:35am
- | Commercial User | Joined Oct 2010 | 1,778 Posts
I'm not going to, yet. I just want to have the sketch posted so I point to it later when I'm right
The idea of the thread is not to score points off each other but to try and help each other to make money....
If you have serious reasons and wish to present them in a serious way I would like to hear them.
Until then what a waste of everybody's time.........
beeb
