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

  • #10,681
  • Sep 22, 2011 8:33am Sep 22, 2011 8:33am
It depends on how you are trading? Futures? Spot? physical?
Your risk and your experience.

Quoting Ravissek
Guy can i ASk you what was your trading capital on gold?
Mine was 12 000$. And I think its good for start.What about you guys?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,682
  • Edited 8:57am Sep 22, 2011 8:35am | Edited 8:57am
And here is why I think there is more downside ahead. This is the RICI Rogers International Commodities Index (as in Jimmy Rogers) and as you can see while Gold charged higher into September commodities were selling off expecting world economies to slow. So even with currency debasement happening in US and Eurozone and inflation not projected to be a big problem with slow or no growth maybe the run to safety has already happened?
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  • #10,683
  • Sep 22, 2011 8:49am Sep 22, 2011 8:49am
The more and more I look at the chart the more it looks manipulated.

The same movements every day, just pushing the price further down, yet it really only moves a minimal amount nominally.

These are not 100 usd falls days where positions are being exited.

Sure some of the smaller players get out in a loss if they are in too deep,

Yet when the physical longs enter then the paper shorts get squeezed out,
Considering, some people do take delivery of physical off comex and the London bullion exchange there is more daily interest in physical metal ultimately than paper leveraged products one would think.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,684
  • Sep 22, 2011 8:51am Sep 22, 2011 8:51am
Welcome to the new guys.

Yes, though, it looks like there may be more room to the downside ie: 1700 area (1650 should be noted)
in focus.

What are the trades?? Anybody in ? long short?

I'm flat. Too much else to do right now.

Orders set.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,685
  • Sep 22, 2011 8:55am Sep 22, 2011 8:55am
Quoting XTrade
Welcome to the new guys.

Yes, though, it looks like there may be more room to the downside ie: 1700 area (1650 should be noted)
in focus.

What are the trades?? Anybody in ? long short?

I'm flat. Too much else to do right now.

Orders set.
Short from 1785 after QE3 "Twist" last night, added another one at 1745, stops at 1745 on both holding out for 1700 where I plan to close both then see if it keeps going or bounces there.

1725 looks like it has to go next..
Anything can happen.
  • #10,686
  • Sep 22, 2011 9:07am Sep 22, 2011 9:07am
Long From 1790 another added 1750 I have money to see 1640-50 area

Plus silver long 39 and 37
  • #10,687
  • Sep 22, 2011 9:08am Sep 22, 2011 9:08am
I'm looking for reactions at 1719, 1707 and naturally 1700.
  • #10,688
  • Sep 22, 2011 9:11am Sep 22, 2011 9:11am
Fibs show me either bottom at 1725 or at 1660's. Both of them are good support areas. I would wait for a recovery here and see what gives.

btw do you know about VIX? I got that indicator on my MT4 and it is kind off accurate at picking bottoms, both price and time wise. Would that be coincidences or pure psychology?

I will post few charts on that very soon.

Quoting XTrade
Welcome to the new guys.

Yes, though, it looks like there may be more room to the downside ie: 1700 area (1650 should be noted)
in focus.

What are the trades?? Anybody in ? long short?

I'm flat. Too much else to do right now.

Orders set.
Trends I Love Finding
  • #10,689
  • Sep 22, 2011 9:30am Sep 22, 2011 9:30am
Quoting ddinnov
Short from 1785 after QE3 "Twist" last night, added another one at 1745, stops at 1745 on both holding out for 1700 where I plan to close both then see if it keeps going or bounces there.

1725 looks like it has to go next..
last night was not QE3 what was announced
  • #10,690
  • Sep 22, 2011 9:45am Sep 22, 2011 9:45am
Quoting GoldenDude
last night was not QE3 what was announced
Yeah, whatever it was it confused the hell out of me but I shorted it anyway
Anything can happen.
  • #10,691
  • Sep 22, 2011 9:46am Sep 22, 2011 9:46am
Quoting highlander2
Shorting silver on this pin bar from the daily chart, sold half on the close and will add the rest on the break of pin bar low. Sl- 40.77 and 40.53.
Target 37.15

Recent momentum is bearish imho
well well that turned out better than i could have hoped.

h2
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  • #10,692
  • Sep 22, 2011 10:04am Sep 22, 2011 10:04am
I'm long with gold.

1. Price has break support on my Daily/Hourly Pivot for Sept

2. I'm also seeing that breached of Daily Trend Line and on the Lows of Hourly Trend line...Looking at upside to 1800ish. Stop at 1700 or below.

its a 50/50 on my trade plan, hope this wont be wrong.
  • #10,693
  • Sep 22, 2011 10:12am Sep 22, 2011 10:12am
S&P and DJIA are finding support and possibly reversing....

http://www.forexfactory.com/showthre...60#post4978360
Anything can happen.
  • #10,694
  • Sep 22, 2011 10:13am Sep 22, 2011 10:13am
As we discussed earlier about double top.I think we are going to be in double bottom today.
  • #10,695
  • Sep 22, 2011 10:20am Sep 22, 2011 10:20am
If your looking to day trade today.

Afternoon may be your key.

London will be closed so that means half the manipulators, and also less liquidity,
so the price can move,

I see a low of 1720 and an ask at 1727 -

also chart is oversold for the day. I would think it needs to hit an old support,
or channel top before going further down. Yet nothing is guaranteed.

The lowest point I can come up with for this channel via TL is appx 1702.

There are likely resting orders there and 10 / 20 below at 1681 area support.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,696
  • Sep 22, 2011 10:21am Sep 22, 2011 10:21am
H1 looks like it may be turning for afternoon flip

for the scalpers we are now 10 bucks off the lows
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,697
  • Sep 22, 2011 10:27am Sep 22, 2011 10:27am
Quoting ddinnov
S&P and DJIA are finding support and possibly reversing....

http://www.forexfactory.com/showthre...60#post4978360
I don't see DJI or S&P finding any support actually. Both are entering a very dangerous zone now. DJI especially.
  • #10,698
  • Sep 22, 2011 10:31am Sep 22, 2011 10:31am
Guys please read this!! Could be moment of recognition!

http://plainsdaily.com/entry/us-hous...-funding-bill/
Trends I Love Finding
  • #10,699
  • Sep 22, 2011 11:04am Sep 22, 2011 11:04am
Quoting Tilf
Guys please read this!! Could be moment of recognition!

http://plainsdaily.com/entry/us-hous...-funding-bill/
AND...

EURUSD soaring on rumor FRBNY swap line rate to be cut

Source: http://www.forexfactory.com/news.php?do=news&id=316589
Trends I Love Finding
  • #10,700
  • Sep 22, 2011 11:06am Sep 22, 2011 11:06am
http://www.bbc.co.uk/news/business-15014843

Shares fall sharply on economy fears
World stock markets have dropped sharply after a series of grim warnings over prospects for the global economy.

This should end up helping the Price of Gold - maybe just not today.

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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