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

  • #9,181
  • Aug 24, 2011 2:58pm Aug 24, 2011 2:58pm
These exchanges know a wave.. no.. a tsunami is coming with sharp horns and going to blow the head off 2000 in the next few weeks as ben bernanke, the contrarian indicator of the decade is going to do something stupid haha
  • #9,182
  • Aug 24, 2011 3:02pm Aug 24, 2011 3:02pm
Quoting Mitchoss
These exchanges know a wave.. no.. a tsunami is coming with sharp horns and going to blow the head off 2000 in the next few weeks as ben bernanke, the contrarian indicator of the decade is going to do something stupid haha
Oooh - unsupported assertion - someone should jump on your head for that....

I know you said that in jest, but we do demand reasons

beeb
  • #9,183
  • Aug 24, 2011 3:06pm Aug 24, 2011 3:06pm
on the note of gaps being filled -- do they always get filled eventually? I've not got any knowledge on this, most of the gaps i've seen on monday mornings have been filled, but as you pointed out that gap around 1660-1683 has yet ot be filled.. but 1725 looks extremely strong as support.

Quoting Icosahedron
I didn't say it was fair, just wanted to point out that the part of reaction to the margin increment already took place.

By the way, there was a lot of buzz on this thread about the gap generated on 7th of August, claiming it will close soon. Not that I think it will close during this correction, but I just wanted to remind you guys in case you forgot.

It's a long way down to 1660, so... Dunno.
  • #9,184
  • Aug 24, 2011 3:07pm Aug 24, 2011 3:07pm
Unfortunately, we always see the NEWS of the CME rising margins, LONG AFTER the FALL OF GOLD..

I can never read any news BEFORE the big correction.. or do you have any trusted news source that post the MARGIN HIKES decision before or at least when 50% of the corection move?

Maybe I ask too much here..

CME hikes gold margins by 27%, biggest since Jan 2009

http://economictimes.indiatimes.com/...ow/9727141.cms
The Black Swan: The Impact of the Highly Improbable
  • #9,185
  • Aug 24, 2011 3:11pm Aug 24, 2011 3:11pm
Quoting MapleLeaf
Unfortunately, we always see the NEWS of the CME rising margins, LONG AFTER the FALL OF GOLD..

I can never read any news BEFORE the big correction.. or do you have any trusted news source that post the MARGIN HIKES decision before or at least when 50% of the corection move?

Maybe I ask too much here..

CME hikes gold margins by 27%, biggest since Jan 2009...
The explanation behind that is quite simple - psychology. They don't know how to stop the gold price, so they are trying to convince you that they actually can.

They see a correction occurring so they raise margin hikes - when you look historically later, you see that whenever they raised margins the price declined (when it was really just a correction, not the hike). So, you become scared of new margin hikes and just an announcement of one makes you sell it, so it becomes a very powerful price killing weapon.
  • #9,186
  • Aug 24, 2011 3:12pm Aug 24, 2011 3:12pm
I dont think Ben is going to do anything but talk this time, they do not like real money ie. ( Gold and Silver ) the war is on and they are trying to stop momentem. This is the slow time of year for Gold, so there is room to fall and shake the faint @ heart CYA Cover your ..... !!! I road this ride in 2008 it was a lesson but took time and we Traders Battle that every day !!! ps Where is the Gold in Lybia ?
  • #9,187
  • Aug 24, 2011 3:34pm Aug 24, 2011 3:34pm
1740..... correct me if im wrong, but even in 2008, it didn't fall this much in this short period of time.. it took 7 months to fall 370 dollars.

now almost 200 dollars in 48 hours.. pretty massive.
The Black Swan: The Impact of the Highly Improbable
  • #9,188
  • Aug 24, 2011 3:38pm Aug 24, 2011 3:38pm
Quoting MapleLeaf
1740..... correct me if im wrong, but even in 2008, it didn't fall this much in this short period of time.. it took 7 months to fall 370 dollars.

now almost 200 dollars in 48 hours.. pretty massive.
The bullish move was also extremely fast, and I think that it's losing the same amount of value in %, it's just that the price was much lower back in 2008.
  • #9,189
  • Aug 24, 2011 5:09pm Aug 24, 2011 5:09pm
Quoting MapleLeaf
Unfortunately, we always see the NEWS of the CME rising margins, LONG AFTER the FALL OF GOLD..

I can never read any news BEFORE the big correction.. or do you have any trusted news source that post the MARGIN HIKES decision before or at least when 50% of the corection move?

Maybe I ask too much here..

CME hikes gold margins by 27%, biggest since Jan 2009...
Without Reading it I 'read' Only the Rich are allowed to gain from what we are doing with Gold. If Everyone & his Horse can Gain... the Gap between us stays the same.
Catching Coat Tails. Buying Gold.

BMc
  • #9,190
  • Aug 24, 2011 5:49pm Aug 24, 2011 5:49pm
For those that follow Murrey Math, currently at 4/8th octave on daily chart, potential reversal zone.

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  • #9,191
  • Aug 24, 2011 6:41pm Aug 24, 2011 6:41pm
Both dips bought.

Let's see how it goes.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #9,192
  • Aug 24, 2011 6:43pm Aug 24, 2011 6:43pm
Gold rose 10 bucks off target entry 1750 I see.

Actually got filled while I was out.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #9,193
  • Aug 24, 2011 6:44pm Aug 24, 2011 6:44pm
Think it found its support?
  • #9,194
  • Edited 9:02pm Aug 24, 2011 8:21pm | Edited 9:02pm
Yesterday's my pivot at 1856 wasn't breached so I ended up not buying any lots, expected downturn well, didn't expect to be THAT huge, my support was 1780, which is now the pivot. still hesitate to buy, will do when it hits 1800-1810 (first resistance 1821 to be broken but I like starting a liiiiitle earlier lol). Otherwise I vote for some down movement, 16xx can be easily reached.

Still testing on Fibo retr 38.2 and crossing midline of my last week's fork (pls cross check w Beeb's as mine was a little outdated because it's drawn on W1 timeframe).

1700 sounds close. I say once it hits 180x again, goodbye bear and steam up to 2k. Play with small lots, I say.

EDIT: Bernanke tonight + QE? Option expires.
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trading is my zen
  • #9,195
  • Edited 9:59pm Aug 24, 2011 9:42pm | Edited 9:59pm
Quoting lilpip
As anticipated we had a rotation back from weekly highs 1912 and the much stronger extended yearly trend resisistance 1936 area. However, we take it a day at a time.
mondays break of daily highs 1891 did not hold tuesday when retested as she rotatated back to daily trend guide 1852 and acting like she wants to go south by droping below it as day came to a close .
To start with lets see how the 1952-53 area responds wed.
bias for wed. is up from 1839.
For those riding the rotation back from 1912-36 area although one would think we would have another...
we started wed. by watching how tuesdays 1852-53 area responded as wed trend guide was 1839 . Both silver and gold showed us the way at the same time as they dropped below the pivot.
Today we will see how serious gold is about continuing her rotation south as she had a breakout of her daily lows @ 1773 also she closed below the weekly pivot which is a stronger trend. We will find out soon enough if resistance holds.
silver closed at her daily lows and below monthly pivot 39.82
  • #9,196
  • Aug 24, 2011 9:59pm Aug 24, 2011 9:59pm
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting G_Man
small short at 1780
limit short closed 1740
  • #9,197
  • Aug 24, 2011 10:06pm Aug 24, 2011 10:06pm
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
if the 1720 fails then strong support at 1680...

i would love to go long at around above 1685 but until then lets watch
  • #9,198
  • Aug 24, 2011 11:30pm Aug 24, 2011 11:30pm
If this 4H closes up a bit it could be a pin-ish bar at support and fib confluence... Not calling a bottom though, just saying what I see on the charts..
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Anything can happen.
  • #9,199
  • Aug 25, 2011 12:22am Aug 25, 2011 12:22am
Quoting ddinnov
If this 4H closes up a bit it could be a pin-ish bar at support and fib confluence... Not calling a bottom though, just saying what I see on the charts..
Look at my H4 chart how different it is. I'm using Alpari UK demo account Mine H4 signal is different than other. Any suggestions, which H4 chart gives better signal. Maybe I have to open account by different broker
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  • #9,200
  • Aug 25, 2011 1:43am Aug 25, 2011 1:43am
Quoting hbkarakas
With my limited experience 1740 area seems reasonable to go long I guess
Seems that the drop targeted 1,69x area ?

Note: If it breaks the 1,720 area....
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