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

  • #8,521
  • Aug 4, 2011 11:22am Aug 4, 2011 11:22am
dunno how many times i have to remind people:

NFP

beeb
  • #8,522
  • Aug 4, 2011 11:46am Aug 4, 2011 11:46am
i'm sorry beeb, i'm still new.
what's NFP?
  • #8,523
  • Aug 4, 2011 11:57am Aug 4, 2011 11:57am
What do you guys think about a reentry now?
  • #8,524
  • Aug 4, 2011 12:01pm Aug 4, 2011 12:01pm
move along, nothing to see here, haha
  • #8,525
  • Aug 4, 2011 12:28pm Aug 4, 2011 12:28pm
Quoting dremstar
i'm sorry beeb, i'm still new.
what's NFP?
Non-Farm Employment Change

Change in the number of employed people during the previous month, excluding the farming industry;

http://www.bls.gov/news.release/empsit.nr0.htm

Also called Non-Farm Payrolls, NFP, Employment Change;

http://www.forexfactory.com/calendar.php
  • #8,526
  • Aug 4, 2011 1:01pm Aug 4, 2011 1:01pm
Quoting longshot_nl
...
T1 met, after breather, up to T2.?
will go short again at higher price then now.
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  • #8,527
  • Edited 1:35pm Aug 4, 2011 1:02pm | Edited 1:35pm
Quoting GoldBear
move along, nothing to see here, haha

Since your last comment here on 24th July - apart from a single word that meant nothing - gold has moved up $80 and not a peep from you. As soon as it moves down in the natural ebb and flow of the market, in a move that was telegraphed, you pop up again....

Sorry - you're on ignore from now on...

beeb
  • #8,528
  • Aug 4, 2011 1:25pm Aug 4, 2011 1:25pm
Anyone buying here? Its still above the 18dma (1617).
I have no enemy; I make Incautiousness my Enemy.
  • #8,529
  • Aug 4, 2011 1:29pm Aug 4, 2011 1:29pm
Sold at 42.27
  • #8,530
  • Aug 4, 2011 1:54pm Aug 4, 2011 1:54pm
silver up to 41.4 before going down again?
we'll see.
  • #8,531
  • Aug 4, 2011 2:36pm Aug 4, 2011 2:36pm
Hi I'm totally new to trading gold, have never done it, but I didn't understand why the $30 dollar decline if this is a risk off environment..anyone care to explain
  • #8,532
  • Aug 4, 2011 3:17pm Aug 4, 2011 3:17pm
Quoting Tilf
1681-1688 would be a strong resistance band .

Reason: Consolidation break out targets.
Gosh! I din't know it was this strong lol. Did not make a penny on that resistance observation though. I lack the much needed confidence I believe. Just surviving the markets these days with very minor profits and Im scared I might lose them if I am confident of the trades lol.
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  • #8,533
  • Aug 4, 2011 3:22pm Aug 4, 2011 3:22pm
i think for silver the support around 38-39 with my personal target still 46-50..i will close some of my position when the price touch 46-50..
  • #8,534
  • Aug 4, 2011 3:25pm Aug 4, 2011 3:25pm
Quoting XTrade

please show chart not sure what you referring to. BBands are floating S/R levels that lag behind price. I wouldn't follow them as definites.
Here is the chart. If you follow the candlesticks breakout pattern then the target would have been 1688. For me the first target (green) was 1678ish and second (red) was 1681.60.

Chart 2: My short term buy targets with TP about 10-15$ for the nearest supports. I missed out on the 1640 buy as well
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  • #8,535
  • Aug 4, 2011 3:38pm Aug 4, 2011 3:38pm
Quoting beeb
Since your last comment here on 24th July - apart from a single word that meant nothing - gold has moved up $80 and not a peep from you. As soon as it moves down in the natural ebb and flow of the market, in a move that was telegraphed, you pop up again....

Sorry - you're on ignore from now on...

beeb
FF should be more like facebook. if it were, i would "like" this post.
  • #8,536
  • Aug 4, 2011 3:47pm Aug 4, 2011 3:47pm
@beeb. Can you please post those your nice Fork patterns on XAU/USD again?
  • #8,537
  • Edited 4:31pm Aug 4, 2011 4:03pm | Edited 4:31pm
Let's get some perspective people - so far GC hasn't even retraced what it has made this month.........

I have said numerous times that NFP is the time when takedowns are likely to happen - please remember that a manipulated market is your friend if you can take advantage of the manipulation. Gold had been going up day after day - a retracement was to be expected.

Is it over? Don't know, but I expect the carnage in the equity markets will lead to margin calls and possible forced sales.......But, IMHO the bull run is not finished over the longer term. Fundamentals increasingly point towards higher precious metals prices. For me, the only question is from what level prices move higher....My advice is to watch shorter timeframes to give you a clue to the longer timeframes and to use stops and good money management.

There is always another trade out there - don't be scared of missing this one.....

beeb
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  • #8,538
  • Aug 4, 2011 4:24pm Aug 4, 2011 4:24pm
Quoting monkey@forex
Hi I'm totally new to trading gold, have never done it, but I didn't understand why the $30 dollar decline if this is a risk off environment..anyone care to explain
Well in my opinion, gold is not the safe haven that it is thought of as by many, often on bad days it falls just as hard as anything else on top of this I dont feel gold has "true value, if you want this then buy land. However just because i think this it doesnt mean Im right, its just my opinion.

At the end of the day gold is down and thats that, more sold than bought, and Like beeb says, NFP tomorrow, so people could be taking profits after what has been a good rally.

Anyways the markets are facinating at the moment, cant wait for NFP tomorrow!
  • #8,539
  • Aug 4, 2011 4:25pm Aug 4, 2011 4:25pm
Quoting beeb
Let's get some perspective people - so far GC hasn't even retraced what it has made this month.........

I have said numerous times that NFP is the time when takedowns are likely to happen - please remember that a manipulated market is your friend if you can take advantage of the manipulation. Gold had been going up day after day - a retracement was to be expected.

Is it over? Don't know, but I expect the carnage in the equity markets will lead to margin calls and possible forced sales.......But, the bull run is not finished over the longer...
Thanks for the post.....
  • #8,540
  • Aug 4, 2011 4:44pm Aug 4, 2011 4:44pm
I use cycle analysis to know when to stop taking longer term trades in the same direction.

Currently cycle analysis would suggest Gold not breaking 1639 until at the least 3am GMT. In the medium term the high 1681.xx would not be exceeded for the next 6-10 days. Will it go down? Maybe or maybe not..it can just consolidate here. Dollar has 8 more bullish days left.

Will try to explain this method through charts. Also, I have been using this for the past 3 months only so I am not sure if it is the right method. Will use this thread as a small journal for my predictions and to know what went wrong.

Volume is crazily higher today. Even higher than the previous 1480 dip.

So overall I am still taking buys but only for $10-$15 max TP's.
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