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

  • #10,721
  • Sep 22, 2011 2:30pm Sep 22, 2011 2:30pm
Quoting SunTrader
And if Gold continued on its merry way higher there would have been silence. Well other than those who are long.

Once it turned lower then something "fishy" must be going on.

Wall Street is not one trader, not one company not even one street anymore. Wall Street is now just a metaphor for the World Wide Trading Community.

And in this community there are just as many who want things to go north and as well as south. Some of us have to learned to live with this fact, some haven't.
I was talking about manipulation on the way up and down, ST. I am commenting b/c bears were complaining that bulls had disappeared. I would have happily remained silent, but the bears asked where we had gone.

Wall Street is not one trader- good point. Very astute.

If you think traders on this forum have any clue what's happening in the futures market, then you are a very misguided individual.

You should go hold hands in a circle in your wonderful fairytale land filled with rainbows - a land where market manipulation is a conspiracy theory. Hahaha

Yes- price action goes up and down. We all know this. Stop stating the obvious. It has nothing to do with my post.
  • #10,722
  • Sep 22, 2011 3:06pm Sep 22, 2011 3:06pm
Quoting Wheels
.......... Stop stating the obvious. .......
The obvious is that you have a problem when price goes down only.

Point me to where you said there is something not right with Gold going higher. Something besides speculation on the up and downside, that is.

$1220 per oz this time last year. $1737 right now after having fallen $185 from alltime highs. Boy those shorts are killin' us.
  • #10,723
  • Sep 22, 2011 3:06pm Sep 22, 2011 3:06pm
http://upic.me/i/l6/23-9-25543-12-51.png
  • #10,724
  • Sep 22, 2011 3:11pm Sep 22, 2011 3:11pm
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..
Stopped out at 1740 for a $50 move on both positions combined. Lets see what next week brings..
Anything can happen.
  • #10,725
  • Sep 22, 2011 3:31pm Sep 22, 2011 3:31pm
Quoting SunTrader
The obvious is that you have a problem when price goes down only.

Point me to where you said there is something not right with Gold going higher. Something besides speculation on the up and downside, that is.

$1220 per oz this time last year. $1737 right now after having fallen $185 from alltime highs. Boy those shorts are killin' us.
You aren't paying attention ST and you still aren't responding to my initial post.

While it's been fun, this is going nowhere.

This tired old argument again. Not everyone who makes an argument about price movement is taking anything personally or assuming that price only moves in one direction.

If you want to make a case why you think these markets are not manipulated, be my guest. Everything else is off-point and the same argument made repeatedly, whether or not it fits the circumstances.

As it stands, once again, I am out of the market. A price drop has no impact on me.

Try again if you must - but you don't seem to be reading carefully. You aren't actually replying to anything I have written and asserting the same old tired argument. Give it up and engage on point.
  • #10,726
  • Sep 22, 2011 4:12pm Sep 22, 2011 4:12pm
Once again I have decided to take my leave of this forum.

The constant bickering and attempts at point scoring, the lack of grace and inability to listen to others, the mocking of attempts to help and the puerile boasting about making $100 here or there, has just got too much for me.

If anyone is interested my recent trades are shown in the 240min chart below with the green circles buys and red circles sells/shorts. Am currently long from the touch on the UP of the red fork and with stops above b/e.

There is huge physical uptake in the London spot market – I suggest you read this as, despite what one idiot said here recently, you can't know too much about your market:

http://kingworldnews.com/kingworldne...ld_Market.html

Suggest people might also want to keep an eye on the daily 14,3,3 stochastics which are in oversold territory. Historically when they turn up from under 20 and trigger it is a good indicator for a swing long. Have a look at the charts.

If you are interested in forks I suggest you check out www.coghlancapital.com Needless to say I have no financial connection etc etc – I just think it's the best site around. It might also open the eyes of some of you as to the sort of money being made in precious metals trading....

I wish the majority of you well and hope that your trading skills and bank balances develop over time.



beeb
Attached Image (click to enlarge)
Click to Enlarge Name: gc240.jpg Size: 109 KB
  • #10,727
  • Edited 10:35pm Sep 22, 2011 4:27pm | Edited 10:35pm
Beeb dont go. I've been learning so much from my FX Elders (Beeb, XTrade, Bemac) .... this student will remain to be attentive and follow the instructions from the wise.

I am most appreciative as I continue to learn and trade.

Quoting beeb
Once again I have decided to take my leave of this forum.

The constant bickering and attempts at point scoring, the lack of grace and inability to listen to others, the mocking of attempts to help and the puerile boasting about making $100 here or there, has just got too much for me.

If anyone is interested my recent trades are shown in the 240min chart below with the green circles buys and red circles sells/shorts. Am currently long from the touch on the UP of the red fork and with stops above b/e.

There is huge physical uptake in...
  • #10,728
  • Sep 22, 2011 4:33pm Sep 22, 2011 4:33pm
Quoting Wheels
........ If you want to make a case why you think these markets are not manipulated, be my guest.....
I'm not making a case for or against. I could care less. I trade what is in front of me and don't look for other reasons why I think price shouldn't be doing what it is doing. Period.

Insanity, doing the same thing over and over and expecting different results.

Talk of naked shorts, manipulation, rotten brokers - have I overlooked anything? But then still trading ........ and expecting a different trading environment. Hmmm.

Brokers both good and bad, big players good and bad and anyone else who tries to game the system will always be with us. Madoff types here and there get nailed. Doesn't stop the next one from trying. I deal with it as part of the game otherwise it just diverts time, energy and attention from what is really important and then the bastards really have won.
  • #10,729
  • Sep 22, 2011 4:44pm Sep 22, 2011 4:44pm
Quoting SunTrader
I'm not making a case for or against. I could care less. I trade what is in front of me and don't look for other reasons why I think price shouldn't be doing what it is doing. Period.

Insanity, doing the same thing over and over and expecting different results.

Talk of naked shorts, manipulation, rotten brokers - have I overlooked anything? But then still trading ........ and expecting a different trading environment. Hmmm.
Using the post as a kick off point for a thought.

It's good to know the environment you're playing in. If you believe the market is manipulated, nothing stops one from making money it. It just helps you asses the risk better and maybe change your money management, length of time you hold positions, etc, etc. Even in a card game where everyone is cheating, someone will still win because they can just cheat better. haha!

There is no question the PM market is manipulated, but it doesn't really matter either. It can still be traded for a win. You just have to have the skill.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #10,730
  • Sep 22, 2011 4:47pm Sep 22, 2011 4:47pm
Quoting LasVahGoose
...... Even in a card game where everyone is cheating, someone will still win because they can just cheat better. haha!
True but do you keep going back to the same card game .... unless you are the best cheat.
  • #10,731
  • Sep 22, 2011 4:56pm Sep 22, 2011 4:56pm
Quoting LasVahGoose

There is no question the PM market is manipulated, but it doesn't really matter either. It can still be traded for a win. You just have to have the skill.
^^

Ride the waves the big guys create, that all you can do, some seem to think you have to fight them to win, you cant...
  • #10,732
  • Sep 22, 2011 5:22pm Sep 22, 2011 5:22pm
Quoting beeb
Once again I have decided to take my leave of this forum.

The constant bickering and attempts at point scoring, the lack of grace and inability to listen to others, the mocking of attempts to help and the puerile boasting about making $100 here or there, has just got too much for me.

If anyone is interested my recent trades are shown in the 240min chart below with the green circles buys and red circles sells/shorts. Am currently long from the touch on the UP of the red fork and with stops above b/e.

There is huge physical uptake in the London...
hey, nice job on the chart.
  • #10,733
  • Edited 5:54pm Sep 22, 2011 5:43pm | Edited 5:54pm
Quoting lilpip
wed. ny did not 2nd the motion but droped below trend guide and did not give hardly anytime to flip as 1803 was tested for move south but she gave a 2nd chance as she retested again hitting tue. pivot 1795 within the hour.
We will probably see the retest of our monthly pivot 1758 and with the new quarter coming up it is a normal pattern to rotate back to quarterly support after reaching extended yearly highs area 1936. (although not the end of this quarter but as of today to give ballpark $1663).
thur. daily
1822
1790
1759
tue silver dropped below...
the rotation back continues with a second week in a row of bouncing off weekly trend guide and moving south.
A drop below 1751-1759 area that being daily lows 1759, weekly lows 1751, and monthly pivot 1758. Bias is down from this area fri. We will see if the retest holds on fri.
Thurs. retest of that break area is noted.
fri.daily
1868
1762
1656
silver fri.
40.09-25
37.38
34.67-84
with eye on retest of weekly lows break 36.78
  • #10,734
  • Edited 6:00pm Sep 22, 2011 5:50pm | Edited 6:00pm
Quoting Bemac
1,745 (6) Traded
Attachment

B
1,720 Traded & Bounced.
I expect a Re-test & Break of
1,720 on a further trip South to
~1,670 {1,664.8 Closes the Gap} for a Total drop of $110.00 in Gold from the
1,780 it was Trading @ on Sept. 19th when I first mentioned this in Post # 10485

Attached Image (click to enlarge)
Click to Enlarge Name: sept 22 1,720 covered.gif Size: 36 KB


I was a Huge Bull from back in April 2011 all the way above my expectations of 1,600. but you need to understand this...
I have No Problem turning my Coat Inside Out.
I don't feel I have cheated myself or Forum Readers & certainly not Other Traders by 'Changing my mind'.
That's what I was getting at when I posted the "Fluidity" thing.
I wasn't looking at any one in particular. I just felt that after being Bullish for So Long, some were having issues on Changing Sides.
To those that sent me PM's regarding this {there were a few} If you thought I was talking directly to you then... Perhaps I was. You know the answer to that better than I ever can.

This Thread is not "The Bull's Gold" thread. You are allowed to change your mind in an instant.

All I need is good reason.
I expect to be a huge Bull once again After we sweep up the dust of touching the ~1,670 mark. (The Golden Diag)

B
  • #10,735
  • Sep 22, 2011 5:54pm Sep 22, 2011 5:54pm
Sure it does. It's called saying after making another new High for the year, Blowing out of the tamed weekly channel and this thread started at
1050
"correction is imminent"

It's been said many times.

Now if you are long from 1050 - 1100 - or even 1500 sure you might have a straddle trade on to take the 200 USD way down, yet your still sitting on a 500+ trade...

So you close? No, you wait for correction and Pack the Guns, arm up the saddles and get ready to fire and ride.

Gold has often been compared to a rollercoaster. All this month has done is been a slow, predictable, correction, and that is precisely one of the pitfalls of technical analysis. you can only deduce what may happen through charting, yet you will not likely know in advance what any Government has ready to roll, toll and maybe even dole out, until the month has passed.
Take it or leave it.;....

The fundamentals of Gold have not changed, what has is that every market in the world is in a tizzy, and RISK has come off.

It's clear risk has come off worldwide.

Although Gold is a "safe haven" it has risk attached as any trade does,
just the same the CHF, and JPY, safety zone currencies have been on the rise, where was the USD during these paper "flights fiat to safety?"

Welp, Central Banks and the Governments behind them are still in the
"RACE to Debase" (g00gle it) and don't want their currencies too high, thus,
hurting their export business if they are export driven.
Take the AUD/USD for ex.

Gold will be above 2k by December 2011 or early 2012.
I will be positioned accordingly.

Quoting Albedo
Wow, that month does not contribute to any post here.

I think today was more drastic for crude oil than for the gold, you see, the higher the correction, the greater the bull rush. More money for people who use lots smaller proportion of their capital. And an ulcer for anyone who plays with lots of 10 to 1.

On the Chart, it was expected, 1780 has not support, gold can go back to their old channel below 1680 or even continue a slight lateral move to another definition, taking 1720 as a backdrop.

I personally prefer to wait and see what...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,736
  • Sep 22, 2011 6:00pm Sep 22, 2011 6:00pm
Thank you for getting that across.

Similar to the joke who is the worst person to ask about exchange rates of a currency, --- drumroll - the FX trader, why? B/C they change their mind if opportunities present themselves. Likely the answer is the FX minute or tick trader, yet I don't remember........

In any case. How bout throwing a Lower trend line on that ICCE chart Bemac?

Quoting Bemac
1,720 Traded & Bounced.
I expect a Re-test & Break of
Attachment

I was a Huge Bull from back in April 2011 all the way above my expectations of 1,600. but you need to understand this...
I have No Problem turning my Coat Inside Out.
I don't feel I have cheated myself or Forum Readers & certainly not Other Traders by 'Changing my mind'.
................
This Thread is not "The Bull's Gold" thread. You are allowed to change your mind in an instant.
All I need is good reason.
I expect to be...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,737
  • Sep 22, 2011 6:04pm Sep 22, 2011 6:04pm
I think Bemac has nailed it yet again "You are allowed to change your mind in an instant".

Surely being tied to a particular view, for whatever reason, is the opposite of what a trader should be doing - surely we should be soaking up everything we can and assessing every trading opportunity on it's individual merits, not on whether it complies with a preconcieved notion of what it should be. Only by doing this can we ride markets both ways, which I certainly want to be able to do!

Thanks again Bemac, you (and your well considered, to the point and sometimes subtely pointed posts) are truly an inspiration to me!
  • #10,738
  • Sep 22, 2011 6:05pm Sep 22, 2011 6:05pm
Who took the scalp?
up 20.
Quoting XTrade
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
  • #10,739
  • Sep 22, 2011 6:19pm Sep 22, 2011 6:19pm
Quoting CathS
I think Bemac has nailed it yet again "You are allowed to change your mind in an instant".
I for myself am hoping for a drop now to re-enter

looking for ~ 1650 to reenter as a bull all the way to 2200 +

oh yeah, i was bull all the way for a year until last night when i started selling , and finished today
  • #10,740
  • Sep 22, 2011 6:48pm Sep 22, 2011 6:48pm
Have heard of huge Buy orders from chinese and a few banks through different sources @1700-1720 so lets wait and see if the get their orders or jump in at higher levels
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