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

  • #8,301
  • Jul 22, 2011 6:37am Jul 22, 2011 6:37am
Quoting mmudasir
shirleylo actually i just find the broker hymarkets.com i have account with them .spreads are high but they have regulated by fsa and 30 year well background.
they offer almost all commodities
i ever found volatile market of cotton coffee and sugar and wheat is some time so nice

these are future contract and i always buying commodities because i believe never short in commodities.
but the problem is these commodities not a 24 hour trading and gaps are much problem
Ah, I see. Futures contract, not total forex type, they do have expiry dates I believe, which will be different for each type?

That's a good broker, thanks for the info. i wonder if they do demo? couldn't find it arnd the site...
trading is my zen
  • #8,302
  • Jul 22, 2011 7:00am Jul 22, 2011 7:00am
Quoting ShirleyLo
Ah, I see. Futures contract, not total forex type, they do have expiry dates I believe, which will be different for each type?

That's a good broker, thanks for the info. i wonder if they do demo? couldn't find it arnd the site...
ask on live chat
Trading by EA
  • #8,303
  • Jul 22, 2011 7:53am Jul 22, 2011 7:53am
1584 back to 1600, while still believing in 1550, I think I will repeat this next week, maybe even good news only after August 2.

The good that we can earn some money with these ups and downs in day trading.

MMudasir I think you have a topic here about brokers, we could post experiences there, I remember that I almost quit at the beginning because I had many problems with brokers.


I'm dying laughing here with the last post, nothing like a women's fight on Friday! Donny, change the avatar picture of a webcam and end the problems.

Shirley, I love your post and your analysis, sorry for the joke, but here I am Brazilian say "Perca o amigo mas não a piada" - "lose friends but not a joke"
  • #8,304
  • Jul 22, 2011 8:40am Jul 22, 2011 8:40am
This is one of the reasons that I still find a secure retreat in 1550, the channel that trait since May 2009. I know what channels are simple, but they are functional and serve the long-term signal inputs and outputs in the short term.
Also has a long-channel strong psychological effect on people, and people are the market.

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  • #8,305
  • Jul 22, 2011 9:12am Jul 22, 2011 9:12am
Hello all - Gold just popping over the 1602 range. Next, would be the high. So it may be tough to take on a Friday. Yet again, anything can happen.

UPDATED RULES CAN BE FOUND HERE:
http://www.forexfactory.com/showthread.php?t=222032
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,306
  • Jul 22, 2011 10:31am Jul 22, 2011 10:31am
Hi guys,

Long time lurker over here. Finally registered. Looking forward to contributing here soon.

PS- Thank you Xtrade. Big fan of yours.
Trends I Love Finding
  • #8,307
  • Jul 22, 2011 11:54am Jul 22, 2011 11:54am
Quoting Albedo
Shirley, I love your post and your analysis, sorry for the joke, but here I am Brazilian say "Perca o amigo mas não a piada" - "lose friends but not a joke"
You should read my previous posts, they mostly consisted of my sarcasm hehehe.

Gold's been slow. Time for a cuppa joke. XTrade is sleeping his afternoon off (no, not next to me otherwise I'll let him trade my account)...wake up, XT!! Give us some analysis!

1600
1615
1624

low still 1594, 1575, 1557, eventually 1535 if happens
trading is my zen
  • #8,308
  • Jul 22, 2011 12:07pm Jul 22, 2011 12:07pm
Hey i forgot to introduce myself. my name is patrick, my friends call me guchi. that's why my username is patguchi. anyways i left a lucrative family business in mining and decided to go into trading. i'm a newbie in trading. barely 6 months into it. already lost 50% of my account due to bad habits. right now i am self educating myself by reading the book "technical analysis of the financial markets" by john murphy.

thinking of buying if i feel the market is going to close above 1600. exit price is 1630 what do you guys think?

BTW

someone gave me this buy alert....

"US Traders: CEF or (buy both GLD and SLV) at current prices, Protective Stops TBA, Downside Risk 10%"

what does CEF mean?
  • #8,309
  • Jul 22, 2011 2:15pm Jul 22, 2011 2:15pm
Hello my friend,

I suggest reading carefully the last 50 pages, take the weekend to do so.

Gold may rise or fall, say what it will do is bet. The timing is good to buy? depends on whether you will buy physical gold bars, great time! If you are buying into brokers for the long term, it is also good.

What you must keep in mind is that it can go down, 10% is very, means that it would reach 1460, but a good number to guard.

What you have to decide is what to do in the fall, stop loss, hedging, average price, or simply hold positions. If you set a strategy and follow it, you will minimize your risks, and over time will profit, even with occasional losses.

Do not worry about the losses they had, consider an apprenticeship.
  • #8,310
  • Jul 22, 2011 5:24pm Jul 22, 2011 5:24pm
G o l d & s i l v e r c l o s e

f r i d a y - j u n e - 22 - 2 0 1 1
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,311
  • Jul 22, 2011 5:25pm Jul 22, 2011 5:25pm
Welcome Aboard the Gold Train!

Thanks BTW.

Enjoy!

X

Quoting Tilf
Hi guys,

Long time lurker over here. Finally registered. Looking forward to contributing here soon.

PS- Thank you Xtrade. Big fan of yours.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,312
  • Jul 22, 2011 5:43pm Jul 22, 2011 5:43pm
It's "cup of JOE" ShilO ~

In any case nope to below. Close at 1600 incouraging for next week to continue in bullish fashion.

Quoting ShirleyLo
You should read my previous posts, they mostly consisted of my sarcasm hehehe.

Gold's been slow. Time for a cuppa joke. XTrade is sleeping his afternoon off (no, not next to me otherwise I'll let him trade my account)...wake up, XT!! Give us some analysis!

1600
1615
1624

low still 1594, 1575, 1557, eventually 1535 if happens
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,313
  • Edited 8:57pm Jul 22, 2011 8:31pm | Edited 8:57pm
Quoting lilpip
Is their a simple and direct book that helps one to understand supply and demand that I could read ?
Your supply and demand areas line up with what im looking at, Id just like to understand the method of how you get there as it appears simple.
My goal is to have another way to verify on my own what Im seeing.
I can look at fibs, forks, waves etc. of charts posted and understand to a degree but to correctly use, apply, and to understand them along with where we are in the trends whithin them would take to long to develope as I have yet to accomplish....
unless I missed it no one has suggested a good read about supply, demand and value areas.
all week and no decision as to direction, price at the monthly close should tell us more than at a weekly close.
a close above quarterly highs 1594 will look real good at months close.
with 35.38 being quarterly pivot and a weekly close above monthly pivot 38.91 she's spelling bull to me, however she will be clearer as to direction at months close.
  • #8,314
  • Jul 22, 2011 9:48pm Jul 22, 2011 9:48pm
What is this I see before me?
Opportunuity & a Poss New High.
Am I Wrong?
Maybe. That's a Truth on every Trade I ever accepted or bullied.
This one Might be the Crime of the Century.
If this goes north... Start saving Water.
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B
  • #8,315
  • Edited 10:38pm Jul 22, 2011 10:07pm | Edited 10:38pm
Somewhere near here.

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Globe Agrees. This is a Shift.
OPPORTUNITYISNOWHERE
Yes we may see 1,550 again.
I personally (atm) see 1,50 Gold the same way I see $1.15 / Gallon gasoline.
GONE. I thiknk that this may be a channel SOUTH. To relieve some presure.
My BULL has been Sated.
Let's Mix it up from here.


B
  • #8,316
  • Jul 22, 2011 10:11pm Jul 22, 2011 10:11pm
Quoting Bemac
What is this I see before me?
Opportunuity & a Poss New High.
Am I Wrong?
Maybe. That's a Truth on every Trade I ever accepted or bullied.
This one Might be the Crime of the Century.
If this goes north... Start saving Water.
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B
im adding last years range about 385 to 1551.
  • #8,317
  • Jul 22, 2011 10:14pm Jul 22, 2011 10:14pm
Quoting lilpip
im adding last years range about 385 to 1551.
Nice. Don't lose the Wide Angle Focus.

B
  • #8,318
  • Jul 22, 2011 10:29pm Jul 22, 2011 10:29pm
from my angle silver has followed her anticipated pattern with a yearly breakout @ 34.60 with adding last years range of $15.
she hit the target area and back down to test the yearly breakout, as time moves forward we have this quarters trend guide in the same area @ 35.38, above that spells bull.
  • #8,319
  • Edited 4:09am Jul 23, 2011 3:59am | Edited 4:09am
Quoting jezek5
Stuck in the range of that big sell off bar,
breaking out of that should give us a clue
to the near term direction,still feels bullish
to me,time will tell.
Almost a breakout to the top side but being Friday
i guess that was looking for to much,my guess is it
was mostly shorts getting out due to no follow through
to the downside.
Nice strong bullish outside bar on the daily with a close in line with
highest close recorded makes me still bullish on this.
Hi XTrade,hope you don't mind me posting ,really nice place you've got here.
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You can remain irrational longer than you can remain solvent.
  • #8,320
  • Jul 23, 2011 10:59am Jul 23, 2011 10:59am
Hi guys,

My first contribution here. Hope it is understandable. My technique is way traditional compared to this thread. I HATE candlesticks/bar chart (sorry if you love it). There is a lot of noise in there and it somehow confuses me more than anything.

Anyways, in the chart there is a pennant with a blue highlight...I call it the DEMAND ZONE.

Also there is a red color channel which is the SUPPLY ZONE.

If I am in buy I get cautious in that region and take profits there. Vice versa with the buy zone (although I rarely take short positions on Gold).

Also now there has been a talk of this huge triangle appearing in the candlestick charts and also on the closing line chart (white trend line). In the first glance it looks like a break out but the volume is not at all convince. I have zoomed into the volume part

Red color - At this closing there was a clear cut break out but the volume was not great at all

Yellow color - Spike in the volume there in the supply channel and we saw a reversal there

White color - On the candle chart there was a retest on the line which is made in this chart...but again volume remains weak.

So what do I make of this?

The market got to the supply channel and reversed with not much volume on the dip. So, I expect another retest where I would buy if the volume is convincing enough to me.

Where would the stop be? Below the recent swing LOW (Friday low). The best thing is I know where my stop would be.

Will keep you guys posted when I buy.

Thanks
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Trends I Love Finding
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