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

  • #14,101
  • Dec 8, 2011 10:43pm Dec 8, 2011 10:43pm
hit support again ... long at 1705.26, set to B/E, going to bed. we'll see what happens overnight!
  • #14,102
  • Dec 8, 2011 11:08pm Dec 8, 2011 11:08pm
no , i am asking you.
Quoting SunTrader
It is hard to tell if you are asking or telling?????

If you are telling I am telling you I think you are wrong. We will see.
  • #14,103
  • Dec 9, 2011 2:21am Dec 9, 2011 2:21am
afraid of 1670 or 1650.I am waiting for the rally to 2000.
  • #14,104
  • Dec 9, 2011 2:25am Dec 9, 2011 2:25am
Still wondering what will happen on the end of the triangle
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  • #14,105
  • Dec 9, 2011 2:36am Dec 9, 2011 2:36am
long a tiny bit @ 1710, thinking the trendline of the triangle at 1700 holds.
  • #14,106
  • Dec 9, 2011 4:58am Dec 9, 2011 4:58am
What about Gold? I feel like buying Gold today.

From a technical perspective that is a good place.

I mean if you are right the profit potential is very good.

If you are wrong you would know very quickly.

I would separate my position into several positions closing them one by one, you know the idea is to have a gold mining position working from a no return place.

Look at the open orders the level 1700.00 is a key level below that levels sellers would be waiting with Huge sell stops orders.
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  • #14,107
  • Dec 9, 2011 5:21am Dec 9, 2011 5:21am
iam out of my long for +10 pips.


more to come....
  • #14,108
  • Dec 9, 2011 5:37am Dec 9, 2011 5:37am
Quoting Bemac
Yessss... Forward Thinking... I Like that.
ICCE Channels DO Exist.
Check out this Line on Close Chart. Your Pair & TF.
I modified Your Box but Only Slightly.
LS. TOP & BOT are different.
Attachment
Notice the Elipse & what PA did in there.
Then check where Price decided it had to Reverse from The Elipse all the way to the End of the Chart.
ICCE Diags are a very important tool in my Trading Toolbelt.

btw. OneDay is working on a "New" version of ICCE that will blow your socks off. I have asked of him, some very difficult...

I'll look for it. I'm sure it will be great.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #14,109
  • Dec 9, 2011 5:39am Dec 9, 2011 5:39am
A gluten for punishment, but a setup is a setup.


.
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #14,110
  • Dec 9, 2011 5:45am Dec 9, 2011 5:45am
out @ 1722. not sure what to do now...
  • #14,111
  • Dec 9, 2011 6:15am Dec 9, 2011 6:15am
Quoting John Last
What about Gold? I feel like buying Gold today.
Look at the open orders the level 1700.00 is a key level below that levels sellers would be waiting with Huge sell stops orders.
Where does this data come from?
  • #14,112
  • Dec 9, 2011 6:32am Dec 9, 2011 6:32am
Rescuing the euro? Debts simply buys the European Central Bank
European leaders on Friday at a summit in Brussels agreed that the European Central Bank will significantly affect the risk of bond markets, said Bloomberg. Negotiators also decided to add € 200 billion International Monetary Fund, which would subsequently be able to participate in the rescue of the euro area economies.
  • #14,113
  • Dec 9, 2011 6:32am Dec 9, 2011 6:32am
Quoting Ravissek
Rescuing the euro? Debts simply buys the European Central Bank
European leaders on Friday at a summit in Brussels agreed that the European Central Bank will significantly affect the risk of bond markets, said Bloomberg. Negotiators also decided to add € 200 billion International Monetary Fund, which would subsequently be able to participate in the rescue of the euro area economies.
Look at the eur/usd spike up.
  • #14,114
  • Dec 9, 2011 6:38am Dec 9, 2011 6:38am
Quoting Ravissek
Look at the eur/usd spike up.

hey ravissek


are you still placing longs each time market falls ?

cos, if you had placed longs two weeks ago, you would be well happy now.
  • #14,115
  • Dec 9, 2011 7:31am Dec 9, 2011 7:31am
Quoting nim1984
out @ 1722. not sure what to do now...
To be honest, nor am I! This triangle looks rather symmetrical to me, meaning price could go either way, plus it is hanging around the 50% fib retracement, plus it is now in the zone that Bemac warned us about with this chart of his.......

however, we are still above the important ICCE level of 1706 (which has been tested many times now, particularly over lower timeframes), so ultimately if I was to make a choice I would be long probably with a stop just below 1700, although with the current level dropping from mid 20s to 1712 I would not enter at all now as a stop below 1700 would be too far away for my liking - I will see how tonight looks closer to the close, if I get up in time .

How is that for not answering you at all???

Cath
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  • #14,116
  • Dec 9, 2011 7:40am Dec 9, 2011 7:40am
Quoting whatfx
hey ravissek


are you still placing longs each time market falls ?

cos, if you had placed longs two weeks ago, you would be well happy now.
I am more smart now.I am placing orders and i am more scalping.I am more intraday now.And yes i still place buy orders when market falls.And I am using now hedging instead of shorting.I have orders on 1699 now.
And well happy? No.I will be well happy when i make more money than now.
I am now living from trading but i want more
  • #14,117
  • Dec 9, 2011 7:40am Dec 9, 2011 7:40am
Why are you all so afraid of going long? We all know XAU/USD is going to hit 1760 again sometime in the next month. Goldman Sachs 1yr forecast is above 1900. Are people afraid of putting their trading money into a position which could need sometime before getting profitable (i.e. not being available for other trades)?
  • #14,118
  • Dec 9, 2011 8:00am Dec 9, 2011 8:00am
Quoting Sreym33
Where does this data come from?
It comes from Oanda open orders:

More information how to interpret the information is below the graph in the Oanda site or at this group about Oanda open orders.

And yes this information is free.
  • #14,119
  • Dec 9, 2011 8:31am Dec 9, 2011 8:31am
Quoting zuppi
Why are you all so afraid of going long? We all know XAU/USD is going to hit 1760 again sometime in the next month. Goldman Sachs 1yr forecast is above 1900. Are people afraid of putting their trading money into a position which could need sometime before getting profitable (i.e. not being available for other trades)?
are you trading physical gold? because i don't think anyone here trading futures can give a stop loss all the way to $1660(i think this holds) aiming for $1760.
  • #14,120
  • Dec 9, 2011 8:35am Dec 9, 2011 8:35am
Quoting zuppi
Why are you all so afraid of going long? We all know XAU/USD is going to hit 1760 again sometime in the next month. Goldman Sachs 1yr forecast is above 1900. Are people afraid of putting their trading money into a position which could need sometime before getting profitable (i.e. not being available for other trades)?

well its not just a question of buying is it ? say you buy now, and it was to fall by 100 pips. will you have a stop large enough to handle the 100 pips drawdown ? even worse, say the market kept on falling to 500 pips down. will you still have enough equity in your account to cope with that ?


if you say to me you have a large enough balance that can withstand any amount of drawdown, then heck yeah just go for it, just buy and buy.

for example if you had $2 million and staked amounts that can handle drawdown.

the problem is , what if a catastrophe was to occur in world events that caused gold prices to decline heavily for the next few years. are you willing to wait a few years to make just a small profit ? i think not. not worth it.

also what if prices kept on falling year after year, you would probably end up blowing your account and losing your treasured $2 million.


now, do you see ..... ?
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