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

  • #10,081
  • Sep 14, 2011 10:24am Sep 14, 2011 10:24am
Quoting KinG-Solomon
I just love DDinnov!!
hehe thanks!

Stop hunting used to upset me quite a bit but there's absolutely nothing I can do about it - except exploit it
Anything can happen.
  • #10,082
  • Sep 14, 2011 10:53am Sep 14, 2011 10:53am
fo-shizo!

Quoting ddinnov
hehe thanks!

Stop hunting used to upset me quite a bit but there's absolutely nothing I can do about it - except exploit it
  • #10,083
  • Sep 14, 2011 10:55am Sep 14, 2011 10:55am
Quoting XTrade
How's everyone doing??

I have been very busy trading physical lately... Need to read some back posts.

Everyone trading? Flat? looking, waiting, thinking, nothing???

I see we are precisely where I thought. Smack dab in the middle of a trade-able range of appx 100 USD. Not a bad range. Then I suppose you could call the lower half a separate 50 USD range with a tad more PA.

Too bad there's no buy / sell thread here. I think I will ask. Although the forum is very international may be more of a headache than it's worth.

Take a look
Hello XTrade,

Bought Gold at 1830, SL - 1800, TP - 1910
Bought Silver at 40,98, SL - 39,9, TP - 44
  • #10,084
  • Sep 14, 2011 11:44am Sep 14, 2011 11:44am
Quoting doctortyby
Hello XTrade,

Bought Gold at 1830, SL - 1800, TP - 1910
Bought Silver at 40,98, SL - 39,9, TP - 44
I'm hedge funding, do you think it is time for the market to bounce back?
  • #10,085
  • Sep 14, 2011 12:11pm Sep 14, 2011 12:11pm
Quoting Pbh
I'm hedge funding, do you think it is time for the market to bounce back?
I remain Long on both Gold and Silver untill they will break the Stop Loss levels, that in my perspective are Key Levels of intermediate Trend (Bull) from 3th of July.

Doctortyby
  • #10,086
  • Sep 14, 2011 12:12pm Sep 14, 2011 12:12pm
Which Stop Loss levels are you referring to Doc?

Quoting doctortyby
I remain Long on both Gold and Silver untill they will break the Stop Loss levels, that in my perspective are Key Levels of intermediate Trend (Bull) from 3th of July.

Doctortyby
  • #10,087
  • Sep 14, 2011 12:13pm Sep 14, 2011 12:13pm
To your Success,
Doctortyby
Attached Image(s) (click to enlarge)
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  • #10,088
  • Sep 14, 2011 12:17pm Sep 14, 2011 12:17pm
Quoting KinG-Solomon
Which Stop Loss levels are you referring to Doc?
Bought Gold at 1830, SL - 1800, TP - 1910
Bought Silver at 40,98, SL - 39,9, TP - 44

Doctortyby
  • #10,089
  • Sep 14, 2011 12:29pm Sep 14, 2011 12:29pm
I personally avoid whole numbers like the plague when it comes to setting stops.
  • #10,090
  • Sep 14, 2011 12:50pm Sep 14, 2011 12:50pm
http://kingworldnews.com/kingworldne...st_Bubble.html

beeb
  • #10,091
  • Sep 14, 2011 2:33pm Sep 14, 2011 2:33pm
XAU is doing its thing....correctively speaking it appears. 1808 over here

Dip bought.
  • #10,092
  • Sep 14, 2011 2:56pm Sep 14, 2011 2:56pm
At this point, I am half cheering on the correction. If market turns up, I will profit much less.

I may lose out here and there, but should be able to maintain a buy bias with roughly the same equity if I jump in here and there to de-hedge and re-hedge at a higher level (even if only by 2-3 dollars).

I definitely need to stay patient...perhaps the most difficult aspect of trading.

The lower it goes, the easier it will be to find an appropriate time to de-hedge completely (and hopefully reap the rewards of my patience).

1500 - bring it on. I doubt this will happen, but I'm all for it!
  • #10,093
  • Sep 14, 2011 3:04pm Sep 14, 2011 3:04pm
The key to me which way the market might break will be determined by wide range day from Sept 7th.

A daily close (today or any future day) below that days close we continue further down - unless the flip side - there is a daily close above that same days open we resume back higher to probabily take out alltime high.
  • #10,094
  • Sep 14, 2011 3:20pm Sep 14, 2011 3:20pm
Meanwhile, what the fork!! Point C is higher than Point A so I don't know if the "rules" allow for that?. Notice above average volume lately, could it be distribution by the so-called smart money folks.
Attached Image (click to enlarge)
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  • #10,095
  • Sep 14, 2011 3:54pm Sep 14, 2011 3:54pm
I find Go Markets have been fairly suspicious of the bull run for some time, so I take their calls with a grain of salt.

I am prepared for this price action nonetheless.

"Pivot: 1830.00

Our Preference: SHORT positions below 1830 with 1795 & 1770 in sight.

Alternative scenario: The upside penetration of 1830 will call for 1850 & 1886.

Comment: the price is capped by a declining trend line."
  • #10,096
  • Sep 14, 2011 4:52pm Sep 14, 2011 4:52pm
I'm in 1819.35 short TP-->1775.26
  • #10,097
  • Sep 14, 2011 5:03pm Sep 14, 2011 5:03pm
http://www.bloomberg.com/news/2011-0...o-says-1-.html
Doing what you like is Freedom. Liking what you do is Happiness.
  • #10,098
  • Sep 14, 2011 5:14pm Sep 14, 2011 5:14pm
For those that are interested in this type of charting analysis, here is a basic tutorial on how to draw a proper Andrews Pitchfork. It's not hard to draw an accurate pitchfork, but, as you can see in the tutorial, the median line is the key to the whole pitchfork. You cannot draw a channel and divide it in half and call it a proper pitchfork, and you will have seen plenty of pseudo pitchforks around where the median line ends up floating in 'mid air!'

As Suntrader points out, pitchforks have 3 specific points...A, B and C that are the foundation blocks of the pitchfork. Anyway......the tutorial is easy to follow.......click here and enjoy
Doing what you like is Freedom. Liking what you do is Happiness.
  • #10,099
  • Sep 14, 2011 6:36pm Sep 14, 2011 6:36pm
Quoting Wheels
I find Go Markets have been fairly suspicious of the bull run for some time, so I take their calls with a grain of salt.

I am prepared for this price action nonetheless.

"Pivot: 1830.00

Our Preference: SHORT positions below 1830 with 1795 & 1770 in sight.

Alternative scenario: The upside penetration of 1830 will call for 1850 & 1886.

Comment: the price is capped by a declining trend line."
they make mistakes sometimes
besides this scenario was for 14th september and it didn't work again like last friday
ROBOT FOREX
  • #10,100
  • Sep 14, 2011 6:43pm Sep 14, 2011 6:43pm
Quoting Forbes55
they make mistakes sometimes
besides this scenario was for 14th september and it didn't work again like last friday
Allow me to clarify: this was the market analysis sent to me today at 4:42pm EST. It was not something I dug up from last Friday.

I also expressed the fact that I take their advice cautiously because I personally find them to be overly bearish on gold.

Cheers

**But let me add - we haven't crossed the pivot point yet. No reason to assume their perceived downward trend is finished (or not). That said, I wouldn't trade that pivot point in either direction.
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