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

  • #11,541
  • Oct 4, 2011 10:43am Oct 4, 2011 10:43am
Quoting dogbreath
Ouch....that will really rock my boat....straining right now with some heavy negatives on some buys.
That is what stops are for.
  • #11,542
  • Oct 4, 2011 10:45am Oct 4, 2011 10:45am
Looking to go short again between 1628-1634
  • #11,543
  • Oct 4, 2011 10:47am Oct 4, 2011 10:47am
Quoting khan101
Looking to go short again between 1628-1634
Why ?
  • #11,544
  • Oct 4, 2011 10:49am Oct 4, 2011 10:49am
Quoting BlackTexto
Why ?
I see Resistance at 1634.80 and 1632.90 stop loss would be 1642 and T.P 1607

Market may not give me that entry
  • #11,545
  • Oct 4, 2011 10:53am Oct 4, 2011 10:53am
Hello everyone, I am new to the forum, am here to chat and learn.

I am from the UK, mainly trade Gold and Silver, both paper and phys.

Anyone see gold retesting the 200dma? and any thoughts on if it will fall through it? and if so how far? I have got thousands riding on Longs with deep SL's at 1270-1330 , risky I know, but I quite like the risk

Mainly trade the news, reaction, fundamentals, and am starting on learning about charts...


your input would always be greatly appreciated...
  • #11,546
  • Oct 4, 2011 11:44am Oct 4, 2011 11:44am
Quoting Wheels
Seems to me that gold sells off on Bernanke consistently these days. Curious.

Quite the opposite of his previous influence.
it is very curious he talks about further action (QE?) and gold drops

wtf?
  • #11,547
  • Edited 12:24pm Oct 4, 2011 12:02pm | Edited 12:24pm
Quoting Goldmansacks
Hello everyone, I am new to the forum, am here to chat and learn.

I am from the UK, mainly trade Gold and Silver, both paper and phys.

Anyone see gold retesting the 200dma? and any thoughts on if it will fall through it? and if so how far? I have got thousands riding on Longs with deep SL's at 1270-1330 , risky I know, but I quite like the risk

Mainly trade the news, reaction, fundamentals, and am starting on learning about charts...


your input would always be greatly appreciated...
Well nice strategy I would suggest to keep some room to load up more longs between 1480-1510
weekly Supports are on 1482 , 1424 ,1376,1302,and 1270
I dont think it will break 1480 personally.
  • #11,548
  • Oct 4, 2011 12:04pm Oct 4, 2011 12:04pm
So,How will be the Asian market opening will be bear or bull ?
  • #11,549
  • Oct 4, 2011 12:06pm Oct 4, 2011 12:06pm
Quoting ngr
So,How will be the Asian market opening will be bear or bull ?
bear bear bear! South baby!

(i may sound confident...but im a newbie...so DON'T take this sentence for money!)
  • #11,550
  • Oct 4, 2011 12:13pm Oct 4, 2011 12:13pm
Quoting ngr
So,How will be the Asian market opening will be bear or bull ?
No One can see future but friend keep in mind a close above 1645 (100 day moving average) is bullish and as it looks we are closing below that level so its bearish.Market is range bound and most (not all) ppl lose their money in these conditions so beware not to change mood on 10,20 dollar moves .

A good parameter is

Above 1680 Very Bullish
Above 1650 Slightly Bullish
Below 1645 Slightly Bearish
Below 1600 Bears all the way
  • #11,551
  • Oct 4, 2011 12:20pm Oct 4, 2011 12:20pm
Quoting khan101
No One can see future but friend keep in mind a close above 1645 (100 day moving average) is bullish and as it looks we are closing below that level so its bearish.Market is range bound and most (not all) ppl lose their money in these conditions so beware not to change mood on 10,20 dollar moves .

A good parameter is

Above 1680 Very Bullish
Above 1650 Slightly Bullish
Below 1645 Slightly Bearish
Below 1600 Bears all the way
Good advice. Thank you.
  • #11,552
  • Oct 4, 2011 12:21pm Oct 4, 2011 12:21pm
Quoting khan101
........ weekly resistances .....
Resistance levels are above wherever the current price is, support levels below.
  • #11,553
  • Oct 4, 2011 12:22pm Oct 4, 2011 12:22pm
Quoting khan101
Looking to go short again between 1628-1634
By the way 2 short entries @ 1628 and 1629 . but half of my usuall lot size
  • #11,554
  • Oct 4, 2011 12:23pm Oct 4, 2011 12:23pm
Quoting SunTrader
Resistance levels are above wherever the current price is, support levels below.
Thanks for pointing out

Typing mistake
  • #11,555
  • Oct 4, 2011 12:38pm Oct 4, 2011 12:38pm
I went long on silver: 29.61
1st Tp: at 31.00
SL: 29.30

Didn't they say no QE the last time? or did that change?
  • #11,556
  • Oct 4, 2011 12:39pm Oct 4, 2011 12:39pm
Quoting whatfx
just before i go. i have just entered a long at 1645 with a small stake. to catch any retrace on the upside due to the heavey nature of the fall. market should recover some of it.


hence entered a long to get in a few pips, tight sl at1635. tp 10 pips.
even if i get stopped out, thats still 35 pips for the day. no worry trade this one.

iam definately off now...

happy trading to all

well, i got my 10 pips on the long at 1645 !

and it happened again, i.e it hit my tp before going straight down. wow, what a coincidence eh ? two back to back lucky wins !

total today + 55 pips.



bring on the next trade........
  • #11,557
  • Oct 4, 2011 12:40pm Oct 4, 2011 12:40pm
Quoting khan101
Well nice strategy I would suggest to keep some room to load up more longs between 1480-1510
weekly Supports are on 1482 , 1424 ,1376,1302,and 1270
I dont think it will break 1480 personally.
Thank you Khan ! I am keeping some funds back, to buy if it does drop down close to, or past the 200mda, but also to increase my SL down to 1260-70 if needs be, but I am not going to go any further with those deals if they breach 1270, but will then be "probably" be a aggressive buyer at those levels, unless something indicates otherwise, ie pa looks as if it will drop to 1100's


Any other thoughts guys?
  • #11,558
  • Oct 4, 2011 12:42pm Oct 4, 2011 12:42pm
Quoting whatfx
well, i got my 10 pips on the long at 1645 !

and it happened again, i.e it hit my tp before going straight down. wow, what a coincidence eh ? two back to back lucky wins !

total today + 55 pips.



bring on the next trade........
Mate whats your take on direction right now ?
  • #11,559
  • Oct 4, 2011 1:05pm Oct 4, 2011 1:05pm
Quoting khan101
Mate whats your take on direction right now ?

short.

but as it stands now its 50/50

market has already moved down way beyond expected, so doubtful if enough steam left on short (for today anyway).

could see a retrace back up tomorrow or overnight at least by a few pips.

short may continue if falls below 1598. otherwise its probably gone down as far as it could for today.

scalpers are probably looking at a few pips to buy right now.....
  • #11,560
  • Oct 4, 2011 1:06pm Oct 4, 2011 1:06pm
Quoting Goldmansacks
Thank you Khan ! I am keeping some funds back, to buy if it does drop down close to, or past the 200mda, but also to increase my SL down to 1260-70 if needs be, but I am not going to go any further with those deals if they breach 1270, but will then be "probably" be a aggressive buyer at those levels, unless something indicates otherwise, ie pa looks as if it will drop to 1100's


Any other thoughts guys?
No prob . I Like your strategy trading every day is not as successful as trading on longer time frames . but my hand lol they dont understand
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