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

  • #14,161
  • Dec 12, 2011 2:40am Dec 12, 2011 2:40am
Quoting Ravissek
I dont know why gold and eurusd are so much correlated now.
the 25-day correlation between gold and S&P now is 0.7, means gold has 70% tendencies to follow S&P movement. equity market and euro is now still marked as riskier assets. when market in a risk averse mode, gold follow another riskier assets.

cmmiw, sorry for my english
  • #14,162
  • Dec 12, 2011 3:45am Dec 12, 2011 3:45am
Quoting cottoncandy
wow...what causes the fall?
Correction most likely. Gold has been up year over year for 11 years without a down year. I don't think we'll be down for the year this year, but it is starting to look like we can see a deep retracement.

The SECULAR bull market is still in tact, but in the short term / mid term the direction looks to be down. If we close below 1672-1650 I'll start to feel more comfortable to short. This is of course my personal take on things, but then again I'm just an amateur.


This longer term chart is still in play for me HERE
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #14,163
  • Dec 12, 2011 3:47am Dec 12, 2011 3:47am
I see some of the hot air bears are back in the thread, but we're missing a few cast of characters. I'm sure they'll start trickling in slowly. Welcome. Haha!
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #14,164
  • Dec 12, 2011 4:02am Dec 12, 2011 4:02am
Quoting LasVahGoose
Correction most likely. Gold has been up year over year for 11 years without a down year. I don't think we'll be down for the year this year, but it is starting to look like we can see a deep retracement.

The SECULAR bull market is still in tact, but in the short term / mid term the direction looks to be down. If we close below 1672-1650 I'll start to feel more comfortable to short. This is of course my personal take on things, but then again I'm just an amateur.


This longer term chart is still in play for me HERE...

what could be the next target level ? i long @ 1695.2.............. genius i hope my capital is adequate to keep my position open till it turns green
  • #14,165
  • Dec 12, 2011 4:15am Dec 12, 2011 4:15am
Quoting cottoncandy

what could be the next target level ? i long @ 1695.2.............. genius i hope my capital is adequate to keep my position open till it turns green
No room for hope when it comes to money management. If I knew the next target level I wouldn't be posting on this forum, I'd been living out my dreams. But one day I think we'll see $6000 gold, how we get there I have no idea. We may even see $1000 again. Anything is possible.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #14,166
  • Dec 12, 2011 4:24am Dec 12, 2011 4:24am
Quoting Ravissek
whats your opinion? 1650? then up?
I dont think we are going to 2000$ to the end of the year.It just not looks like now
But when it will rise to 2000 many ppl will be rich
I have sell on 1699.
What about you?
Its just not rising
I dont know why gold and eurusd are so much correlated now.

I'll buy more at 1610 or maybe 1640, an ounce or 2

Please keep in mind that i am not a daily trader so $10 or 20 movements doesn't really hurt, it hurts when and if the movement is of $100+

I am keeping a bird's eye view on metals thats all, i just keep in touch with the strength of $ and Euro.
News and other factors are secondary to me in this bull run, i am still targeting $2000.
Charming prices for me at the moment are:
Gold 1600 - 1610
Silver $28
  • #14,167
  • Dec 12, 2011 4:25am Dec 12, 2011 4:25am
Quoting LasVahGoose
No room for hope when it comes to money management. If I knew the next target level I wouldn't be posting on this forum, I'd been living out my dreams. But one day I think we'll see $6000 gold, how we get there I have no idea. We may even see $1000 again. Anything is possible.
BRB entering limit order @ $1000 for 1 tonne of gold
  • #14,168
  • Dec 12, 2011 4:26am Dec 12, 2011 4:26am
Quoting forexfacts
I'll buy more at 1610 or maybe 1640, an ounce or 2

Please keep in mind that i am not a daily trader so $10 or 20 movements doesn't really hurt, it hurts when and if the movement is of $100+

I am keeping a bird's eye view on metals thats all, i just keep in touch with the strength of $ and Euro.
News and other factors are secondary to me in this bull run, i am still targeting $2000.
Charming prices for me at the moment are:
Gold 1600 - 1610
Silver $28
ok thx =) i will hold my short.Shorted 1699 and I have stoploss at 1699 too.I will lock my profit at 1650 or 1630
  • #14,169
  • Dec 12, 2011 4:26am Dec 12, 2011 4:26am
Quoting forexfacts
I'll buy more at 1610 or maybe 1640, an ounce or 2

Please keep in mind that i am not a daily trader so $10 or 20 movements doesn't really hurt, it hurts when and if the movement is of $100+

I am keeping a bird's eye view on metals thats all, i just keep in touch with the strength of $ and Euro.
News and other factors are secondary to me in this bull run, i am still targeting $2000.
Charming prices for me at the moment are:
Gold 1600 - 1610
Silver $28
agree with you, my style and timeframe of trading is similar to yours. Although I will front run you and buy above $1625, don't think it will get to 1600
  • #14,170
  • Dec 12, 2011 4:39am Dec 12, 2011 4:39am
Quoting torazbika
noobs here,

spot on Rahul! so what's you think the next target? 1680 is become new support.

cheers
torazbika
Hi,

I dont have a target because I am still not clear about the trend. Yes! You are right. New support is $1680. The gap i was talking about was at $1685-$1680. This gap was quite big so it will be strong support.

There is one more thing i have seen today. There is another gap created by gold today at $1710. If gold sustains above $1680 then it will come back to $1710 for sure in couple of days and if trades above $1710 for 2 hrs. then it will be bullish, because by then it would have been filled in all gaps.
If it falls below $1680 then it will be strong resistant again. then it may take few weeks to come back to $1710.

I am not buyer of gold at these levels. I rather wait for new highs to short gold and complete the trade by buying.
Please note that don't trade on this information alone. Take other information into the consideration before entering into trade.

Cheers
Rahul
Attached Image
  • #14,171
  • Dec 12, 2011 5:16am Dec 12, 2011 5:16am
long at 1680. sl 1669, tp 1696.

lets see how this one transpires. mixed feeling about this as the long signal was not that strong....
  • #14,172
  • Dec 12, 2011 5:47am Dec 12, 2011 5:47am
Looks like the demand works.We'll see
Attached Image (click to enlarge)
Click to Enlarge Name: strong demand zone.gif Size: 21 KB
  • #14,173
  • Dec 12, 2011 5:57am Dec 12, 2011 5:57am
Quoting Rahul_Gold
Hi,

I dont have a target because I am still not clear about the trend. Yes! You are right. New support is $1680. The gap i was talking about was at $1685-$1680. This gap was quite big so it will be strong support.

There is one more thing i have seen today. There is another gap created by gold today at $1710. If gold sustains above $1680 then it will come back to $1710 for sure in couple of days and if trades above $1710 for 2 hrs. then it will be bullish, because by then it would have been filled in all gaps.
If it falls below $1680 then...
i dont see any gap there.My broker provides me long nice red bar on this time =)
  • #14,174
  • Dec 12, 2011 6:05am Dec 12, 2011 6:05am
Quoting Ravissek
Looks like the demand works.We'll see
The support you are showing there was previously resistance, making it even stronger, plus it is at the 61.8 fib retracement level........
  • #14,175
  • Dec 12, 2011 6:08am Dec 12, 2011 6:08am
Quoting Ravissek
i dont see any gap there.My broker provides me long nice red bar on this time =)
... none of my data feeds show a gap there either on any time frame either, all show red candle.
Cath
  • #14,176
  • Dec 12, 2011 6:32am Dec 12, 2011 6:32am
Quoting CathS
The support you are showing there was previously resistance, making it even stronger, plus it is at the 61.8 fib retracement level........
61.8% of which hi-to-lo?
  • #14,177
  • Dec 12, 2011 7:20am Dec 12, 2011 7:20am
Quoting CathS
... none of my data feeds show a gap there either on any time frame either, all show red candle.
Cath
and why the gap is so important? market comes back to close it?
  • #14,178
  • Dec 12, 2011 7:22am Dec 12, 2011 7:22am
Quoting Ravissek
and why the gap is so important? market comes back to close it?

not always
  • #14,179
  • Dec 12, 2011 7:25am Dec 12, 2011 7:25am
Quoting whatfx
not always
i want to know who moves the market.Traders is 5% i think. 95% is...Some high politics?
  • #14,180
  • Edited 7:45am Dec 12, 2011 7:25am | Edited 7:45am
Quoting Ravissek
Looks like the demand works.We'll see
That 1670 area is definately an area to consider when I consider the a weekly cycle.
Throw the 5 min. on and let the candle formations and pa lead the way.
weekly
1762-65
1728
1668-70
From my angle, although shes pushing down, if she is going to turn back around looking at the daily chart our first hurdle is to get back above 1696 area.
Also, dont forget sis and her 30.75-95 area as we start NY session.
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