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

  • #15,341
  • Jan 13, 2012 7:55am Jan 13, 2012 7:55am
Quoting Recluse
But if you're judging whether the fish is poisonous or not, it's safer to bite the tail and spit it back out if it's the wrong fish. If it's the right fish, just keep eating all the way to the end.
If you start biting in the middle, it could all go wrong very fast.
That is, tighter stops if you're judging a tail. Wider stops if you're judging the meat.

If you're getting poisoned by the tail so much that it affects you maybe you're a bad judge of what poisonous fish look like?
Thats funny But a good analogy
Life's a bitch....so be a dog and cover it!
  • #15,342
  • Jan 13, 2012 9:11am Jan 13, 2012 9:11am
A fresh drop.

Waiting to see how the PA reacts to the next Fib level down if this slide continues.
  • #15,343
  • Jan 13, 2012 9:16am Jan 13, 2012 9:16am
go down the gold?

Quoting Wheels
A fresh drop.

Waiting to see how the PA reacts to the next Fib level down if this slide continues.
  • #15,344
  • Jan 13, 2012 9:21am Jan 13, 2012 9:21am
Quoting stevebalmmer
go down the gold?
Yes.

Nothing out of this world so far.

Just a drop down to the low 1630s (now in the 1620s).

I'm hoping for some nice elastic band action - a nice pull back and another shot back upward. Wishful thinking perhaps?

On another matter:

Looks like the Fitch "rumours" about more Euro downgrades have put more pressure on the Euro.
  • #15,345
  • Jan 13, 2012 9:39am Jan 13, 2012 9:39am
hello every buddy i have short at 1606 what should do some one plz
  • #15,346
  • Edited 4:34pm Jan 13, 2012 9:43am | Edited 4:34pm
Quoting Nguyenngoctu
I think Gold keep rising higher .
I think not.

I think we facing short term bear squeeze before gold keep rising higher.

Mr Armstrong. He think gold keep rising higher, but he expect short term correction before gold keep rising higher. I think I agree with honourable Mr Armstrong. I think gold due correction before they take wus to war again and then (I think) gold keep rising higher.

On a serious note. Why keep trading in or out of a market when you know it is a bull market? Bull markets are about accumulating on existing positions and not necessarily trying to time them. This is how we build sizeable positions over the long run.

Day trading is really a "mug's" game.

The euro is being affected by all kinds of news events which are beyond our control. It is difficult in trying to time the news events - the markets are always ahead of the news. Much better to be a contrarian to the news. After all, the news is about "programming", isn't it? This is why we build positions with (initially) limited risk and then learn to wait. This is why we attack the markets with small risk. I did this with the euro yesterday (low probability) and today (much higher probability). Today, this paid off. Yesterday, it didn't. Was I bothered? No, because my risk was very small,....anyway, I think gold keep rising higher....

KR

p.s. where is the best place to visit Vietnam as a tourist? If gold keep rising higher, I want to travel the world! Never went to Vietnam last time I went travelling, so serious question.
  • #15,347
  • Jan 13, 2012 10:44am Jan 13, 2012 10:44am
Quoting mallicks
hello every buddy i have short at 1606 what should do some one plz
Well, I think gold keep rising higher, so build position (after correction) and learn to wait.

KR
(with humour only)
  • #15,348
  • Jan 13, 2012 2:17pm Jan 13, 2012 2:17pm
Quoting Knight Rider
I think not.

I think we facing short term bear squeeze before gold keep rising higher.

Mr Armstrong. He think gold keep rising higher, but he expect short term correction before gold keep rising higher. I think I agree with honourable Mr Armstrong. I think gold due correction before they take wus to war again and then (I think) gold keep rising higher.

On a serious note. Why keep trading in or out of a market when you know it is a bull market? Bull markets are about accumulating to existing positions and not necessarily trying...
If time and money permit, visit Hanoi and Ho Chi Minh. They are very different cities. Ho Chi Minh gives a much better sense of the former communist glory whereas Hanoi has older architecture and cultural sites. Ho Chi Minh is intense, but I'm a fan.

Da Nang for surf depending on the time of year. I enjoyed Nha Trang, but not necessarily anything special about it as compared to other cities.
  • #15,349
  • Edited 3:56pm Jan 13, 2012 2:46pm | Edited 3:56pm
Quoting mallicks
hello every buddy i have short at 1606 what should do some one plz
close the trade and go trade on a demo account for a few months. when you are profitable, try again. also school yourself on analysis both tech and fund. ask yourself this, how long would you go to school if you knew there potentially was a $100,000 +/yr job waiting for you?
  • #15,350
  • Jan 13, 2012 4:44pm Jan 13, 2012 4:44pm
Quoting Wheels
If time and money permit, visit Hanoi and Ho Chi Minh. They are very different cities. Ho Chi Minh gives a much better sense of the former communist glory whereas Hanoi has older architecture and cultural sites. Ho Chi Minh is intense, but I'm a fan.

Da Nang for surf depending on the time of year. I enjoyed Nha Trang, but not necessarily anything special about it as compared to other cities.
Thank you for your insights.

Good to get off the beaten track once and a while.
  • #15,351
  • Jan 13, 2012 4:55pm Jan 13, 2012 4:55pm
Quoting Knight Rider
Thank you for your insights.

Good to get off the beaten track once and a while.
No problem. I agree it is good to get out there and see the world when possible.

Travel is certainly a gift for all of us human beings lucky enough to be born in an era where consumer aviation is affordable.

Many people have opinions about global affairs with so little context and experience.

Have a nice weekend everyone!
  • #15,352
  • Jan 14, 2012 12:16am Jan 14, 2012 12:16am
Here's my 2 cents worth

Gold

Weekly channel intact. Price still within bullish pennant and looks set to test the upper part of the triangle but needs to close about 1680 pivot. Closed above 200MA and may now act as support now.

Inclining channel forming and has hit and rejected the lower TL. I suspect it will break this channel on the upside next week.

MACD has crossed over and about to test declining TL.

Total OI (according to Harvey Organ) increased by almost 4500 contracts after price got beaten back from 1665. If this isn't manipulation I don't know what is. The cartel are still working off their huge net short position. Watch for smack downs.

Silver

Like gold an inclining channel is forming and has tested the lower TL. Also on D1 an upside down head shoulders has formed. Looks set to test 31. Daily close at 29.710 and currently sitting on a pivot line.

MACD crossover and penetration of declining TL.

Open interest in silver remained unchanged! Where was JPM? Maybe they've rid themselves of their net short position? Maybe a bottom is in? I don't know for sure but I wouldn't be suprised if silver explodes north.

There has been significantly higher volume for both this month. No idea what that really means in terms of direction but so far it's been bullish.

Have a nice weekend
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  • #15,353
  • Edited 3:11am Jan 14, 2012 2:59am | Edited 3:11am
Hi everyone, I can see price dropping between 1592 and 1610, that's my buy point between 38% and 50% pullback from last bull move. After price broke thru the thick green trendline, the perfect sell would have been 1647. After this move down, look for a break of the next trendline upwards and price target of 1680 or slightly above. I think we will see yet another slight pullback after 1680 before breaching 1700. If it does all this, the next stop is... who knows? That would break the longstanding trendline on the daily (see magenta line on chart) and price may shoot from there.

In addition, look at the 3rd chart, we are exactly at the 200% projection of the short covering price move from 1522 to 1581. Price will pullback from here before rising again. reasons reiterated:
1.pullback to approx 50% of bull move
2.break of trendline
3.price has extended 200% of short coverings.

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  • #15,354
  • Edited 11:07am Jan 14, 2012 4:38am | Edited 11:07am
Quoting Sreym33
Hi everyone, I can see price dropping between 1592 and 1610, that's my buy point between 38% and 50% pullback from last bull move. After price broke thru the thick green trendline, the perfect sell would have been 1647. After this move down, look for a break of the next trendline upwards and price target of 1680 or slightly above. I think we will see yet another slight pullback after 1680 before breaching 1700. If it does all this, the next stop is... who knows? That would break the longstanding trendline on the daily (see magenta...
Well, whatever happens, next week may well prove to be a determining week on a number of levels!...

KR
  • #15,355
  • Jan 14, 2012 4:11pm Jan 14, 2012 4:11pm
gold analysis for 2012 right here on FF.

http://globalmarkets.anyoption.com/g...d-conclusions/
  • #15,356
  • Jan 14, 2012 7:29pm Jan 14, 2012 7:29pm
Here we go...

KG
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  • #15,357
  • Jan 15, 2012 5:30am Jan 15, 2012 5:30am
Ichimoku Cloud does show a strong resistance, lets see if R1 will be broken next week
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  • #15,358
  • Jan 15, 2012 10:10am Jan 15, 2012 10:10am
http://www.bloomberg.com/news/2012-0...mmodities.html

This obviously means nothing for short term price action, but it is very clear that China is hedging its bets.
  • #15,359
  • Jan 15, 2012 9:39pm Jan 15, 2012 9:39pm
Quoting Knight Rider
I think not.

I think we facing short term bear squeeze before gold keep rising higher.
Correct !
Mr Armstrong. He think gold keep rising higher, but he expect short term correction before gold keep rising higher. I think I agree with honourable Mr Armstrong. I think gold due correction before they take wus to war again and then (I think) gold keep rising higher.
I agree with that but a light correction .


On a serious note. Why keep trading in or out of a market...
Happy trading !
  • #15,360
  • Jan 15, 2012 10:44pm Jan 15, 2012 10:44pm
Hi all traders
Here is newbie's forecast .
Happy trading .
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