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

  • #14,821
  • Edited Dec 27, 2011 4:11am Dec 26, 2011 9:30pm | Edited Dec 27, 2011 4:11am
As we move into 2012 a new yearly timeframe one cant help to consider the primary yearly trend.
As it stands of fri. close im looking at 1614 area as the single yearly pivot.
weekly pivot is 1680.
bounce down @ 1640 noted.
weekly lows 1544-55.

Silver
$35 2012 single yearly pivot.
$33 1st quarter pivot
2nd weekly close below $30 is noted.

weekly pivot 30.60
the question of the week is will we have a weekly close above 30.60 ?
(Last year at this time we had a weekly close of 30.88 , up from a open of 29.28).
weekly lows 27.65
tue.daily
$30.07
29.31
28.55
  • #14,822
  • Dec 27, 2011 12:15am Dec 27, 2011 12:15am
tue.gold daily
1638
1614
1588
let see how that 1590 holds up for the days starters.
  • #14,823
  • Dec 27, 2011 1:15am Dec 27, 2011 1:15am
SL -$5
TP +$3 hit
Attached Image
  • #14,824
  • Dec 27, 2011 10:24am Dec 27, 2011 10:24am
1600 acting like resistance now.
  • #14,825
  • Edited Dec 28, 2011 9:31am Dec 27, 2011 11:21am | Edited Dec 28, 2011 9:31am
Short at 1595. Stop loss 1606. Would be surprised it doesn't revisit 1560. At the very least.
Also short E/G. At BE
Update : out of E/G with a very little profit. Gold at BE and in full steam
Patience is magic
  • #14,826
  • Dec 27, 2011 12:44pm Dec 27, 2011 12:44pm
Quoting muntu ntu
Short at 1595. Stop loss 1606. Would be surprised it doesn't revisit 1560. At the very least.
Also short E/G. At BE
WHY 1606 stoploss?
  • #14,827
  • Dec 27, 2011 2:08pm Dec 27, 2011 2:08pm
To manage a buffer zone in case it decides to retest the so important 1600 res. level.

Quoting Ravissek
WHY 1606 stoploss?
Patience is magic
  • #14,828
  • Dec 27, 2011 4:45pm Dec 27, 2011 4:45pm
Quoting muntu ntu
To manage a buffer zone in case it decides to retest the so important 1600 res. level.
Ok thx
  • #14,829
  • Dec 28, 2011 1:58am Dec 28, 2011 1:58am
Have been out of the market since there are no good bullish signs, till today. I see a falling wedge with buy point of 1591.5, would add if it gets above 1595, aiming for 1607/1610, stop loss of 1585
Attached Image (click to enlarge)
Click to Enlarge Name: FalWdg.png Size: 27 KB
  • #14,830
  • Dec 28, 2011 5:07am Dec 28, 2011 5:07am
Thanks nim1984, will keep an eye out on volume if it breaks out.
  • #14,831
  • Dec 28, 2011 5:45am Dec 28, 2011 5:45am
bot @ 1590 w/ stoploss 1583.5, tgt = 1604
  • #14,832
  • Dec 28, 2011 6:14am Dec 28, 2011 6:14am
Looks like gold is making multiple support levels on short term frames.
1m 5m 15m 30m
  • #14,833
  • Dec 28, 2011 6:32am Dec 28, 2011 6:32am
Beware falling knives. They are sharp.
Patience is magic
  • #14,834
  • Dec 28, 2011 7:53am Dec 28, 2011 7:53am
hi guys,

i'm really tension...what is your expectation on silver and gold by end of this year?can some one here explain to me why precious metals keep falling especially silver?..support 29 was failed, then 28.59 also failed..really don't know what happen on this market..is it possible silver will going to 20 or even 10!
  • #14,835
  • Dec 28, 2011 8:06am Dec 28, 2011 8:06am
Quoting kamen
hi guys,

i'm really tension...what is your expectation on silver and gold by end of this year?can some one here explain to me why precious metals keep falling especially silver?..support 29 was failed, then 28.59 also failed..really don't know what happen on this market..is it possible silver will going to 20 or even 10!
It is already end of this year

They'll fall some more before they rise again so relax
  • #14,836
  • Dec 28, 2011 8:33am Dec 28, 2011 8:33am
forexfact, what is your strong support for gold and silver?are u still play long at this moment?what is your consideration price for silver?
  • #14,837
  • Dec 28, 2011 8:42am Dec 28, 2011 8:42am
Quoting kamen
forexfact, what is your strong support for gold and silver?are u still play long at this moment?what is your consideration price for silver?
I have No figures at the moment, let the year close then we'll see
  • #14,838
  • Dec 28, 2011 9:00am Dec 28, 2011 9:00am
out @ 1583.5 w/ a loss. stupid euro just has to tank at the wrong time..

monthly close above 1602(for bulls) looking very difficult now, it's only got two days, not a good sign.
  • #14,839
  • Dec 28, 2011 10:55am Dec 28, 2011 10:55am
Not trading much till the new year.

Exited longs this AM AUD and NZD / USD before the plunge,
lost some money back during the plunge.

Got long again. Now. want my money back!!!!

Gold not doing so hot with this light volume.

Seems to be resting on support 1565.

Might enter a scalp here as the bar looks to be popping up a bit.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #14,840
  • Dec 28, 2011 11:21am Dec 28, 2011 11:21am
I thought they are patient this time of the year but they are not, now i am waiting for 1410 maybe 1425, 1440 or even 1450.

Silver $24, crazy good prices and i am laughing on what? i have my cargo with me
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