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

  • #10,241
  • Sep 18, 2011 8:01am Sep 18, 2011 8:01am
Quoting whatfx
indeed, little man.

perhaps when the market does head south, you will come back and eat your words. it has already started heading south btw albeit short term.

but hey, iam just stating an opinion, following a research i did. who knows, i could be wrong.
greece in default within 24 hours, gold will be up till 1900 on monday, then down later on new week as new measures will be taken
ROBOT FOREX
  • #10,242
  • Edited 8:47am Sep 18, 2011 8:16am | Edited 8:47am
Quoting lilpip
Keeping an eye on the trends.
A heads up to the levels posted at the begining of sept.
monthly trend guide 1757 area was achieved and longs from this area will be of less risk and even if she dropped south one could rescue and exit on the retest of resistance.
Depending on 1830 response It may be a good time for profits for those still holding shorts from 1912-36 area.
If the banks can maintain control of there normal manipulation its normal pattern would be not to break through 1936 area this year but one would look to at least the last quarter...
Nice job !
If Gold continuing to rise on monday ,that is a very bullish signal .
Chart's showing the bull still controlling the game .
  • #10,243
  • Sep 18, 2011 8:42am Sep 18, 2011 8:42am
looking back to last week bias was down from weekly trend guide $41.48.
44.20
41.48
38.76
lets see how this weeks trend guide 40.81 responds to this stronger monthly trend guide 40.25-35 area at weeks open.
Both gold and silver moved up off of there monthly pivot areas at the same time friday.
monthly
45.66
40.25
34.84
weekly silver
42.84
40.81
38.78
daily trend guide 40.35
  • #10,244
  • Sep 18, 2011 8:43am Sep 18, 2011 8:43am
wow, some strong opinions here, let me conjure my crystal ball and come up with a prediction as well.

sorry guys, just wish someone actually post a chart for a change and propose a trade setup for the new week.!

http://www.adobetutorialz.com/conten...rial451/46.jpg
  • #10,245
  • Edited 9:23am Sep 18, 2011 9:05am | Edited 9:23am
Quoting ruffryders
wow, some strong opinions here, let me conjure my crystal ball and come up with a prediction as well.

sorry guys, just wish someone actually post a chart for a change and propose a trade setup for the new week.!

http://www.adobetutorialz.com/conten...rial451/46.jpg
myself, I look at the price within different timeframe trends and its levels of support and resistance which I post. You will have to decide if you enter a trade or not by its candle formations and pa on the chart around those levels by looking at the 5 min. or just roll the dice, enter a set up with your order, a stop and tp at those levels.
  • #10,246
  • Sep 18, 2011 9:08am Sep 18, 2011 9:08am
Quoting ruffryders
wow, some strong opinions here, let me conjure my crystal ball and come up with a prediction as well.

sorry guys, just wish someone actually post a chart for a change and propose a trade setup for the new week.!

I've posted a number of charts - but without predictions - you just don't seem to agree with them.......



beeb
  • #10,247
  • Sep 18, 2011 9:37am Sep 18, 2011 9:37am
Hi guys, does anyone have tips or advice or things to look out for when trading gold and silver? I am currently trading currencies, and would like to know the basics of gold and silver. All i've known so far is that 'gold always goes up'. 'Never short gold'. 'Gold's pips are larger.' Not much eh? For any tips or advice, please post on my thread here

http://www.forexfactory.com/showthread.php?t=315144

all help is appreciated, and all is welcome to help

Have I got something on my face, SOLDIER?
  • #10,248
  • Sep 18, 2011 9:38am Sep 18, 2011 9:38am
Quoting ruffryders
wow, some strong opinions here, let me conjure my crystal ball and come up with a prediction as well.

sorry guys, just wish someone actually post a chart for a change and propose a trade setup for the new week.!
http://www.forexfactory.com/showthread.php?t=315144

Here's my view/perspective on gold. Look at last page.

Have I got something on my face, SOLDIER?
  • #10,249
  • Sep 18, 2011 10:27am Sep 18, 2011 10:27am
Quoting ruffryders
And your name is probably Jim Simons or John Paulson ......
But now it has become IGGY.
  • #10,250
  • Sep 18, 2011 10:44am Sep 18, 2011 10:44am
From DailyFX:

"Much of Gold’s price action will hinge on the FOMC policy meeting next week where traders will be lending a keen ear to Fed Chairman Ben Bernanke for insight regarding the fed’s future policy stance and whether voting members see scope for another round of quantitative easing. If Bernanke hints of further easing, the dollar will likely come under pressure with gold expected to move higher as investors look to hedge against inflation and depreciation in the greenback. However if the Fed strikes a more balanced tone and continues to operate on a wait-and-see approach, gold may continue to slide as traders seek more aggressive yields elsewhere".
  • #10,251
  • Sep 18, 2011 1:17pm Sep 18, 2011 1:17pm
Quoting SunTrader
From DailyFX:

"Much of Gold’s price action will hinge on the FOMC policy meeting next week where traders will be lending a keen ear to Fed Chairman Ben Bernanke for insight regarding the fed’s future policy stance and whether voting members see scope for another round of quantitative easing. If Bernanke hints of further easing, the dollar will likely come under pressure with gold expected to move higher as investors look to hedge against inflation and depreciation in the greenback. However if the Fed strikes a more balanced tone and continues...
i've always been more of a 'fundamentals' guy... I personally believe QE3 is gonna be announced the 21st, therefore, gold will go up

last week news about ecb helping liquidity, greece receiving payment, etc is false hope

i can be wrong, but im completely convinced that gold will go 2000+ soon
reasons: QE3, europe situation getting worse
  • #10,252
  • Sep 18, 2011 1:25pm Sep 18, 2011 1:25pm
Quoting GoldenDude
i've always been more of a 'fundamentals' guy... I personally believe QE3 is gonna be announced the 21st,.......... therefore, gold will go up
I'm not ........... I don't think so ........... and we will soon see.
  • #10,253
  • Sep 18, 2011 1:45pm Sep 18, 2011 1:45pm
My take on silver - if this pattern means anything at all then it's bounced off the lower and might be heading toward the higher. Not a prediction just how I see it.

Second chart has fibs which I see as being significant by the reactions in the blue boxed areas. Please tell me if I'm 'curve fitting' though as I am known to be wrong quite often
Attached Image(s) (click to enlarge)
Click to Enlarge Name: silver1d.gif Size: 18 KB
Click to Enlarge Name: silver1d_fibs.gif Size: 20 KB
Anything can happen.
  • #10,254
  • Sep 18, 2011 1:55pm Sep 18, 2011 1:55pm
Gold looks a bit untradeable to me, I don't know why I'm so obsessed with it. If it was an FX pair I probably wouldn't give this chart a second look.

Looks like a kind of double top/H&Sish type pattern but it's still (just) making higher highs and higher lows. Friday gave us a weak bullish outside bar that failed to close above the 50% ret but did close above 1800.. yet I'm still glued to it..
Attached Image (click to enlarge)
Click to Enlarge Name: gold1d.gif Size: 17 KB
Anything can happen.
  • #10,255
  • Sep 18, 2011 2:04pm Sep 18, 2011 2:04pm
Quoting ddinnov
......Friday gave us a weak bullish outside bar ....
You must use the London close to plot daily bars because mine using NY close doesn't show Friday to be outside the range of Thursday (on the high side). I agree price action lately hasn't been very clear. Maybe this week will give clues.
  • #10,256
  • Sep 18, 2011 2:27pm Sep 18, 2011 2:27pm
Quoting SunTrader
You must use the London close to plot daily bars because mine using NY close doesn't show Friday to be outside the range of Thursday (on the high side). I agree price action lately hasn't been very clear. Maybe this week will give clues.
Looking at it again the low isn't outside the previous day so it's not even a BEOB - my bad
Anything can happen.
  • #10,257
  • Sep 18, 2011 5:21pm Sep 18, 2011 5:21pm
price open in a gap of upside 10 dollars
Trading by EA
  • #10,258
  • Sep 18, 2011 5:25pm Sep 18, 2011 5:25pm
Looks like going to clear 1825
  • #10,259
  • Sep 18, 2011 5:27pm Sep 18, 2011 5:27pm
closing above this trendline is very important can push us easily might be 1900 level
Attached Image (click to enlarge)
Click to Enlarge Name: gold chart4.gif Size: 143 KB
Trading by EA
  • #10,260
  • Sep 18, 2011 5:31pm Sep 18, 2011 5:31pm
Gold (spot) opening higher on the gap.


Here is an article.

http://www.oilngold.com/analysis/com...2011091619218/

And we have broken the bearish channel. Let's see if the momentum can keep through out the week.
Attached Image (click to enlarge)
Click to Enlarge Name: gold sept 18.GIF Size: 27 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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