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

  • #12,241
  • Oct 19, 2011 10:25pm Oct 19, 2011 10:25pm
Quoting tuba84
better to take small loss than wait for big profit !
Hmmm...
Better to have calculated Drawdown Max Risk than be surprised.
I have Seldome had a Trade that was Never in Negative Territory.

B
  • #12,242
  • Oct 19, 2011 10:26pm Oct 19, 2011 10:26pm
several times, gold try to penetrate the resistant
i think 1680 are strong resistant
do you think it will breakable in this week?
breakable or not, if you have position at 1540 you can sell now to save your profit
couse i see for now is a strong correction consolidation
  • #12,243
  • Oct 19, 2011 10:30pm Oct 19, 2011 10:30pm
Quoting CathS
I had the same analysis as you and was about to go long when it dropped further - will watch for a bit now....
Looks like you made the right call, Cath!
  • #12,244
  • Oct 19, 2011 10:37pm Oct 19, 2011 10:37pm
Quoting dirgatalk
several times, gold try to penetrate the resistant
i think 1680 are strong resistant
do you think it will breakable in this week?
breakable or not, if you have position at 1540 you can sell now to save your profit
couse i see for now is a strong correction consolidation
OK. I'm going to Speculate ('cause that's what I do) that your intention was to say
1,640
If so.. Good call.
But I, for me, see a Buying opportunity.
Time to start Re- Accumulating Gold.
This is Boring....

B
  • #12,245
  • Oct 19, 2011 10:50pm Oct 19, 2011 10:50pm
Amazing how the market seems to hit sell stops, pull up, and then wait. This has been my experience more often than not regardless of price level and entry.

I will sit this out for now and leave myself hedged for a bit.

Not worth the fight for the amount of money on the table.

Will let the market work this out, but it looks like the counter party to my trades somewhere at a bank in Australia is playing me like a fiddle.

This is a time I would appreciate input from a senior trader.

How is it that stops and pending orders seem to be triggered just as the market turns against my position so frequently?

I'm among the lucky ones who caught the summer bull season, but it seems now that gold trading has become unpredictable like forex (counter parties are fighting against OTC traders for every last penny).
  • #12,246
  • Edited 11:23pm Oct 19, 2011 10:52pm | Edited 11:23pm
Quoting lilpip
with yearly breakout retested at 1551 and last week monday we moved up out of quarterly trend guide 1617 we have
a battle between monthly pivot 1674 and quarterly pivot 1617.
So we take it a day at a time.

wed.
gold daily
1693
1659
1625
silver daily
33.15
31.79
30.43
ok both at your pivots where to now?
With a move thru weekly pivot 1634 and thur.daily lows of 1620 lets see how the retest does as we are at quarterly pivot 1617.
Days initial order is in at quarterly pivot.
eyes open on the 5 min. to pa between 1617-1620 to add more orders or take out if theres a breakout to south.
silver included as she turned around at the same time.
thur daily
1688
1654
1620
thur silvr
32.60
31.40
30.20
weekly pivot is 30.57 .
  • #12,247
  • Oct 19, 2011 10:57pm Oct 19, 2011 10:57pm
OTC gold trading seems increasingly like a racket.

I do see the occasional successful trade called in advance by people in this forum, but this is the exception and not the rule.

Stop hunting - does it exist and can it really be legal?

It is mind boggling how many times I have had stops triggered with price moving just within 10 cents of my pending order before heading in the opposite direction.

Don't get me wrong - I am not worried or whining because I made a bad trade. I accept my defeat. I just think it is fishy how many times my orders are just barely touched before the market moves against me.

Said with positivity and a hope for a bit of realism from those with more experience.

I see a lot of people making market calls after the fact and very few people announcing trades in advance. Not a slight to anyone, but just a curious fact.

Cheers
  • #12,248
  • Oct 19, 2011 11:16pm Oct 19, 2011 11:16pm
Quoting Wheels
OTC gold trading seems increasingly like a racket.

I do see the occasional successful trade called in advance by people in this forum, but this is the exception and not the rule.

Stop hunting - does it exist and can it really be legal?

It is mind boggling how many times I have had stops triggered with price moving just within 10 cents of my pending order before heading in the opposite direction.

Don't get me wrong - I am not worried or whining because I made a bad trade. I accept my defeat. I just think it is fishy how many times my orders...
To me, trading gold is more like reaction, not predcition. making a call is prediction, most of the time it will be late, or after fact.
here is how i plan and trade on M5 and M1, hope it helps

Quoting pipphunter
as the plan played out, bull couldn't hold on 1650, and re-tested lower gold line.

today, 1650 became red line, 1646 is secondary short area,
IF 1630 can not hold, then, we will test 1600

No plan for EU today, as it's not clear to me..
Quoting pipphunter
just loaded some scalping short on gold.
Quoting pipphunter
covered some, let the rest run... early free trade, nice.
seeing through
  • #12,249
  • Oct 19, 2011 11:27pm Oct 19, 2011 11:27pm
Quoting Wheels
Looks like you made the right call, Cath!
To be honest I stopped when I saw your post as despite my best analysis, lately pretty much every seemingly safe trade has turned the other way as soon as I have entered so I didn't want to jinx you!

Maybe I should have entered, who knows what the universe would have spat out then, maybe I should channel the young jedi....

My stops also have a habit of being touched right before rebound, even when I have picked what I think are obscure targets that aren't close to S/R, fibs, round #s etc etc etc. I was blaming the univers but I like your conspiracy theory much better!!

Better luck next time - I should warn everyone that I am planning to go long today sometime (should make any shorts pretty safe lol!!)
  • #12,250
  • Edited 11:56pm Oct 19, 2011 11:37pm | Edited 11:56pm
Quoting Wheels
OTC gold trading seems increasingly like a racket.
Stop hunting - does it exist and can it really be legal?
It is mind boggling how many times I have had stops triggered with price moving just within 10 cents of my pending order before heading in the opposite
Of course its a racket and they can change the rules whenever they want.
We have to get familier with their patterns as they manipulate the racket they run and anticipate what their considering.
For every seller ya have a buyer and yes they make sweeps of the support and resistance areas.

For now we have her right where we want her @ 1617 so she can make up her mind.
We moved out last week monday and havnt been back.
If we are still in the rotation back from yearly highs 1936 area and break south we just might be looking not for 4th quarter support but looking for 2012 support.

okay its showtime back at 1617 what do ya wanna do girl ?
Do we have a push up or a breakout ?

Have to consider silvrs 30.57 also.
  • #12,251
  • Oct 19, 2011 11:50pm Oct 19, 2011 11:50pm
Renewed Concerns over EZ Sovereign Debt Crisis Hurt Sentiment
http://www.oilngold.com/ong-focus/in...2011102019657/
  • #12,252
  • Edited 12:37am Oct 20, 2011 12:01am | Edited 12:37am
look at her just sitting , waiting for her orders.
Acts like she wants to continue south.
see what 1617 next 3 bars say and silvers 30.57.

no longs for me till on otherside of 1617 , new shorts to risky @ this point for me.
Will see how the girls react to silvers daily lows area 30.20 or if silver climbs above 30.57.
  • #12,253
  • Oct 20, 2011 12:24am Oct 20, 2011 12:24am
Quoting Blksheep
........ but profit is profit
No, not really
  • #12,254
  • Oct 20, 2011 12:35am Oct 20, 2011 12:35am
Quoting pipphunter
To me, trading gold is more like reaction, not predcition. making a call is prediction, most of the time it will be late, or after fact.
here is how i plan and trade on M5 and M1, hope it helps
I appreciate the thoughts, PH.

You too, Cath.

Cheers
  • #12,255
  • Edited 1:38am Oct 20, 2011 12:40am | Edited 1:38am
I got lucky too.

opened a sell at
1626
and
1627

Trailing stop closed it at
1622

Riding them down with a 1200pip($12) trailing stop to a 1601 TP...whichever comes first....bout time I had some dollars come in !
Attached Image (click to enlarge)
Click to Enlarge Name: xau.gif Size: 73 KB
Life's a bitch....so be a dog and cover it!
  • #12,256
  • Oct 20, 2011 12:40am Oct 20, 2011 12:40am
if she staying above 30.57 what ya gonna do gold?
order in
  • #12,257
  • Oct 20, 2011 12:42am Oct 20, 2011 12:42am
Pick a daily (or weekly, monthly even intraday) candlestick chart for any tradeable commodity and find a reversal high or low bar with a long wick.

And see how often historically price returns to this level in a relatively short amount of time. For example Gold with the low on Sept 26th. We are currently not far away from a complete retracement down to this low - kind of like a Gap being closed.

It is taking about a month but the sideways action with puny volume since was just about shouting "down, down, down".

Or to put it another way, it definitely wasn't saying, buy, buy ,buy.
  • #12,258
  • Oct 20, 2011 1:19am Oct 20, 2011 1:19am
bounce down from 1617 is noted however the push up is noted from 1613 on the 5 min. pa.
make up my mind for me girl, are we getting a push over or not ?
That a girl now can we avoid a daily breakout and get on the otherside of 1620 ?
  • #12,259
  • Oct 20, 2011 1:24am Oct 20, 2011 1:24am
Quoting SunTrader
Pick a daily (or weekly, monthly even intraday) candlestick chart for any tradeable commodity and find a reversal high or low bar with a long wick.

And see how often historically price returns to this level in a relatively short amount of time. For example Gold with the low on Sept 26th. We are currently not far away from a complete retracement down to this low - kind of like a Gap being closed.

It is taking about a month but the sideways action with puny volume since was just about shouting "down, down, down".

Or to put it another way,...
interesting
Life's a bitch....so be a dog and cover it!
  • #12,260
  • Oct 20, 2011 1:35am Oct 20, 2011 1:35am
Too scared of downtrend to buy
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