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

  • #11,581
  • Oct 4, 2011 2:12pm Oct 4, 2011 2:12pm
Quoting Ravissek
You think this will have bullish or bearish reaction?
Mate It was supposed to be bullish but as SUN mentioned they will come up with some other excuse.I regret closing my shorts
  • #11,582
  • Oct 4, 2011 2:13pm Oct 4, 2011 2:13pm
Quoting ddinnov
It's a bearish price action signal on the daily chart.
I was thinking that this is signal "bears end"
  • #11,583
  • Oct 4, 2011 2:14pm Oct 4, 2011 2:14pm
Personally I am going to risk a small short trade from 1597, looking for it to head down towards the 200dma... more for sport, and if we hit the 200mda I am going to buy buy buy , but with deep SL... hope them boys on Wall street dont take it all the way down , always possible though !!

What are anyones thoughts, and on Silver too? I was waiting for a correction down to $26 , or even 21.XX to go long, but taking small Shorts on way down....but now I am not so sure that it has not found a support in the $28-$32 region... thoughts?

Good luck guys n gals!!
  • #11,584
  • Oct 4, 2011 2:14pm Oct 4, 2011 2:14pm
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
ouch....I was hoping it was going to stop at 1600....hope you are incorrect...otherwise I will have to unload some negative buys
Life's a bitch....so be a dog and cover it!
  • #11,585
  • Oct 4, 2011 2:15pm Oct 4, 2011 2:15pm
ok now im hoping big time it goes up from here (1600) as im all in
  • #11,586
  • Oct 4, 2011 2:16pm Oct 4, 2011 2:16pm
1676 was strong resistance.Next time it will break it
  • #11,587
  • Oct 4, 2011 2:16pm Oct 4, 2011 2:16pm
For the rest of you my advice is if you wana play long for 10- 15 pips buy around 1582-1584( last support before 1532 ) stop loss tight 1578 but its better if you can wait to enter short at a good level
  • #11,588
  • Oct 4, 2011 2:16pm Oct 4, 2011 2:16pm
Quoting GoldenDude
ok now im hoping big time it goes up from here (1600) as im all in
All in? I dont understand Opened max positions?
  • #11,589
  • Oct 4, 2011 2:17pm Oct 4, 2011 2:17pm
Quoting GoldenDude
ok now im hoping big time it goes up from here (1600) as im all in
I'd get out sooner, don't blow your account on hope.

Not a recommendation just what I would do and have just done.
Anything can happen.
  • #11,590
  • Oct 4, 2011 2:19pm Oct 4, 2011 2:19pm
Quoting dogbreath
ouch....I was hoping it was going to stop at 1600....hope you are incorrect...otherwise I will have to unload some negative buys
Remember dont put stops or expect price reversals from these whole figures stop losses are always hunted a better place to buy and sell is in 80z n 20 they are mostly true resistance and support levels check out the history you will get to know
  • #11,591
  • Oct 4, 2011 2:20pm Oct 4, 2011 2:20pm
Quoting ddinnov
I'd get out sooner, don't blow your account on hope.

Not a recommendation just what I would do and have just done.
Yea.I Am at 2buys at 1776 and one sell at 1600.Better for me
  • #11,592
  • Oct 4, 2011 2:22pm Oct 4, 2011 2:22pm
If anyone is holding long and hoping for a turnaround please read this:

http://www.iitm.com/Trader-Test/The-Loss-Trap.htm

Bearish momentum like this scares the hell out of me, you don't want to be picking out bottoms when there's panic selling going on..
Anything can happen.
  • #11,593
  • Oct 4, 2011 2:24pm Oct 4, 2011 2:24pm
Quoting Ravissek
All in? I dont understand Opened max positions?
No more Mr Nice Guy.
  • #11,594
  • Oct 4, 2011 2:27pm Oct 4, 2011 2:27pm
May be this helps

Secondly silver is unexpectedly strong today hmmm any comments ?
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  • #11,595
  • Oct 4, 2011 2:28pm Oct 4, 2011 2:28pm
Quoting GoldenDude
ok now im hoping big time it goes up from here (1600) as im all in

I am with you on that one golden
Life's a bitch....so be a dog and cover it!
  • #11,596
  • Oct 4, 2011 2:33pm Oct 4, 2011 2:33pm
Quoting ddinnov
If anyone is holding long and hoping for a turnaround please read this:

http://www.iitm.com/Trader-Test/The-Loss-Trap.htm

Bearish momentum like this scares the hell out of me, you don't want to be picking out bottoms when there's panic selling going on..
grrrr....you would have to post that...gosh those chinese finger traps are brutal
Life's a bitch....so be a dog and cover it!
  • #11,597
  • Oct 4, 2011 2:33pm Oct 4, 2011 2:33pm
Quoting khan101
May be this helps

Secondly silver is unexpectedly strong today hmmm any comments ?
Strong? Are you looking at your chart standing on your head.
  • #11,598
  • Edited 2:51pm Oct 4, 2011 2:39pm | Edited 2:51pm
Quoting SunTrader
Strong? Are you looking at your chart standing on your head.
yup comparably strong . you remember what it was like a week back. 100 dollar gold was equal to 5 $ move for silver .


Need to go now i have a few short orders open from 1623 to 1634 . will see if i get any before Asian session.

Best of luck
  • #11,599
  • Oct 4, 2011 2:51pm Oct 4, 2011 2:51pm
Quoting khan101
yup comparably strong ......
Percentage-wise Silver is down more today.

But on a day when choosing between ugly and very ugly I say give me a beer and keep them coming. It's too early to tell.
  • #11,600
  • Oct 4, 2011 3:05pm Oct 4, 2011 3:05pm
woooo closed that short at BE lol this thing recovered quickly .

Nikkei: Banks to get $43 bln in M&A push

The three big Japanese banks will split $43 bln between them to fund overseas acquisitions.
Like the announcement earlier that Japan will buy more European bailout bonds, this announcement is designed to weaken the JPY.

main reason i can find
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