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

  • #12,561
  • Oct 26, 2011 7:36am Oct 26, 2011 7:36am
Quoting ddinnov
hehe thanks, I wasn't expecting anything like what happened yesterday. I was however anticipating that kind of volume from today which remains to be seen. Fundamentals seem to be in the driving seat at the moment, right now we have 'rumour' and later on today we should have 'fact'.

Got a couple of BE longs on gold and silver still open but looking to sit out most of today until we get something definitive out of Europe.

I think gold will keep going up but things don't just go in a straight line so we should be due some retrace/profit taking...
my sentiments exactly ddinov
Life's a bitch....so be a dog and cover it!
  • #12,562
  • Oct 26, 2011 8:42am Oct 26, 2011 8:42am
Quoting SunTrader
Did you read the part that it is Iraqi money that we hold for them and not U.S. funds??
I missed that !
Life's a bitch....so be a dog and cover it!
  • #12,563
  • Oct 26, 2011 9:08am Oct 26, 2011 9:08am
Quoting ddinnov
Do I smell bears?...
Looks like someone is selling big time at around 1720.
  • #12,564
  • Oct 26, 2011 9:13am Oct 26, 2011 9:13am
Quoting Tsotsi
Looks like someone is selling big time at around 1720.
I'm selling
  • #12,565
  • Oct 26, 2011 9:15am Oct 26, 2011 9:15am
Someone is selling the Euro. Flip side buying the dollar.
  • #12,566
  • Oct 26, 2011 9:16am Oct 26, 2011 9:16am
Looks like a dip, the upward momentum seems quite strong.

This suspense is killing me and these rumours and tweets are getting quite annoying..
Anything can happen.
  • #12,567
  • Oct 26, 2011 9:31am Oct 26, 2011 9:31am
Just read quite an interesting view over in the 'bastard' (really useless) thread:

http://www.forexfactory.com/showthre...91#post5073691

quite bullish on gold and silver...

Quote
Silver looking to test 36.60 and gold towards 1800-1850. 4H [TF] gave us a breakout yesterday, while still in possible flag formation - momentum looks strong..
Anything can happen.
  • #12,568
  • Oct 26, 2011 11:30am Oct 26, 2011 11:30am
My expectation is 1800.
But my desire is 1600.

which one seems more practical at the moment?
  • #12,569
  • Oct 26, 2011 11:50am Oct 26, 2011 11:50am
Quoting forexfacts
My expectation is 1800.
But my desire is 1600.

which one seems more practical at the moment?
trade in range
  • #12,570
  • Oct 26, 2011 12:05pm Oct 26, 2011 12:05pm
Quoting fawaol
trade in range
I will, once i become a daily trader
  • #12,571
  • Oct 26, 2011 12:11pm Oct 26, 2011 12:11pm
Range trading?

I think one might be able to scalp, but I don't see a newly established range just yet.

Let me know what you see because I am not experienced.

As far as I can tell, the advance of gold's price has continued and this breakout has brought us into new territory.

If I saw a clearly defined range, I would have de-hedged at re-bought from below.
  • #12,572
  • Oct 26, 2011 12:16pm Oct 26, 2011 12:16pm
Quoting forexfacts
I will, once i become a daily trader
I'm waiting for 1711 or lower today.
  • #12,573
  • Oct 26, 2011 12:22pm Oct 26, 2011 12:22pm
Just be careful...

I'm starting to believe those calling for something like 1750 (or 1765 even) before any significant drop.

The market has an amazing ability to do the opposite of what one would like.
  • #12,574
  • Oct 26, 2011 12:51pm Oct 26, 2011 12:51pm
Quoting Wheels
Just be careful...

I'm starting to believe those calling for something like 1750 (or 1765 even) before any significant drop.

The market has an amazing ability to do the opposite of what one would like.
It would be too easy
  • #12,575
  • Oct 26, 2011 12:53pm Oct 26, 2011 12:53pm
Quoting fawaol
I'm waiting for 1711 or lower today.
Looking good so far.

Cheers
  • #12,576
  • Oct 26, 2011 2:16pm Oct 26, 2011 2:16pm
Quoting Wheels
Looking good so far.

Cheers
Or maybe not.

Inconsistency is the new consistency.

Predictable is the new unpredictable.
  • #12,577
  • Oct 26, 2011 2:51pm Oct 26, 2011 2:51pm
im going short 1720
cant see this rally lasting long, especially after some kind of agreement for eurozone summit
  • #12,578
  • Oct 26, 2011 3:01pm Oct 26, 2011 3:01pm
Quoting Wheels
Looking good so far.

Cheers
Hit BE .....
  • #12,579
  • Oct 26, 2011 3:11pm Oct 26, 2011 3:11pm
I think this EU meeting has a few hours to go still. I read it might go way into the asian session
Anything can happen.
  • #12,580
  • Oct 26, 2011 3:42pm Oct 26, 2011 3:42pm
Quoting ddinnov
I've got used to seeing gold as a risk on instrument lately, can we speculate now that's shifted back over to a safe haven?
Maybe...I was watching the dollar index with the price today....they were for the most part mirroring each other.
Dunno if that is a really good way to measure if it is a safe haven though....maybe one of the seasoned traders on here can provide a better answer.
As they print more money out of thin air...gold should go up and the value of the dollar down.
Life's a bitch....so be a dog and cover it!
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