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

  • #15,781
  • Edited 12:58am Jan 26, 2012 12:33am | Edited 12:58am
Quoting XTrade
Yes sir! It will.

I'm looking at the weekly and see massive potential here.

To get the target for the triangle you are supposed to measure the widest part
from the midpoint of the triangle where the break occurs.
So this is where I was getting 2050 yet the move at widest was actually 450
which would put us at appx 2100.

I love the H4 pic!

The bar
makes sense, certainly possible.
more charts
Heres to your 35.00 silver
http://www.wealthwire.com/news/headlines/2571?r=1
http://dollarcollapse.com/precious-m...ld-and-silver/
  • #15,782
  • Jan 26, 2012 1:46am Jan 26, 2012 1:46am
Quoting XTrade
Yes sir! It will.

I'm looking at the weekly and see massive potential here.

To get the target for the triangle you are supposed to measure the widest part
from the midpoint of the triangle where the break occurs.
So this is where I was getting 2050 yet the move at widest was actually 450
which would put us at appx 2100.

I love the H4 pic!

The bar
Xtrade are you hedging gold? open in a moment buy and sell setups?
Attached Image (click to enlarge)
Click to Enlarge Name: storm gold 2 breakout view on h4 BUY AND SELL POSITION.GIF Size: 21 KB
  • #15,783
  • Edited 8:05am Jan 26, 2012 7:43am | Edited 8:05am
26jan12
Attached Image (click to enlarge)
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  • #15,784
  • Jan 26, 2012 8:18am Jan 26, 2012 8:18am
No, no hedges, unless I take an intraday currency position in favor of the dollar like long USD/CHF.

Quoting Doncex
Xtrade are you hedging gold? open in a moment buy and sell setups?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,785
  • Jan 26, 2012 8:36am Jan 26, 2012 8:36am
They are longer term positions with targets of several hundreds of dollars.

After Identified trend is established or trend change opportunity for instance the
testing of the bottom of the weekly channel and below offers two opps
1. continue south which failed
2. reverse and even out / continue bullish trend from before correction.

Either scenario of two will be fitting as I am leaning towards the latter
TREND RESUMPTION.

Now, In the case that the channel blows the top too quickly again, and hits 2000 in an accelerated manor the same scenario a 450 USD correction
may present.

however, this would likely be after making a new High of target 2100 -2150
even leaving a position of 1500 in 100 to 200 USD of profit on correction if you traded super long term paper on a monthly yearly basis.

In that situation I cannot see using a forex broker due to possible transparency issues and problems and would feel more comfortable on an exchange. ie: futures.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,786
  • Jan 26, 2012 8:39am Jan 26, 2012 8:39am
The Archer, this is the correct line:

Attached Image
  • #15,787
  • Jan 26, 2012 8:43am Jan 26, 2012 8:43am
Furthermore, at some point if metals continue north with little real pullback staying power or reversal,

ie silver to bottomed @ 7 + went to 15 now @ 30+ targeting 50 +

Panic buying by some might ensue in the physical market pushing the price even higher to a potential 100 USD per OZT AG

Perhaps creating a shortage or manipulated shortage of metal physically available to the public.

This is also where the discussion about the COMEX GOLD and SILVER market beginning to default on position delivery of metal
due to the lack of said metal and too much paper open.

We all know here the super rich can get anything they want when they want for the right price.
There is also an old saying something to the affect of
"In NYC (New York City) ANYTHING is a phone call away to be delivered to your door at any hour "for the right price."

Irregardless of those facts when silver hit $7 USD in 2008 there was none to be had, the backup was like 6 months at best.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,788
  • Jan 26, 2012 8:45am Jan 26, 2012 8:45am
Technically right now the price is close to the weekly channel midline and in contact with the bottom of an old RISING LTL.

I'll try to simplify a chart showing this.

X
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,789
  • Jan 26, 2012 8:51am Jan 26, 2012 8:51am
I dont want to lose this post about your system and will create a hyperlink in the first post to it, you can let me know when you make updates.

After reading again it seems well thought out enough as a system for testing at ones leisure and / or live trade at ones own risk.

Quoting Sreym33
A couple of weeks ago I wrote that I was working me a screenshot every 30 minutes to my phone. If there is an entry or exit I can trade on the go!
show where i bought and sold based on the rules.

Thanks!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #15,790
  • Jan 26, 2012 8:55am Jan 26, 2012 8:55am
Quoting XTrade
Furthermore, at some point if metals continue north with little real pullback staying power or reversal,

ie silver to bottomed @ 7 + went to 15 now @ 30+ targeting 50 +

Panic buying by some might ensue in the physical market pushing the price even higher to a potential 100 USD per OZT AG

Perhaps creating a shortage or manipulated shortage of metal physically available to the public.

This is also where the discussion about the COMEX GOLD and SILVER market beginning to default on position delivery of metal
due to the lack of said...

X man, Panic buyers have learnt their lesson, any move up from here will be from the manipulators, the investors, i "feel" a good correction before $ 2000, lets see, at which point? i am not sure!
  • #15,791
  • Jan 26, 2012 8:56am Jan 26, 2012 8:56am
just an update on currencies and dow

stops tripped on kiwi - price now at 8225. on the contrary - it is at strong resistance in PPA . possible short entry if PA follows.

aussie also daily supply - cleared 10600.

expet possible retraces in this pair - and gold might retrace following the money flow on aussie and kiwi.


dow is trading almost near 12800 daily resistance and round number - possible stop hunt there as well.

either major B/o tonight - or a bounce. watch pa carefully guys
Have I got something on my face, SOLDIER?
  • #15,792
  • Jan 26, 2012 9:05am Jan 26, 2012 9:05am
home sales dissapoint by 14 K from expected 321 K results at 307K

housing market not doing well in US for some time now
drops 2.2 % for this month.
Have I got something on my face, SOLDIER?
  • #15,793
  • Jan 26, 2012 9:16am Jan 26, 2012 9:16am
wich is the next target?
or we can fall back to 1700,and go up again?
steve
  • #15,794
  • Jan 26, 2012 9:26am Jan 26, 2012 9:26am
Those who build straight lines up, what would they do when they see there is no or little crowd following them? make more straight lines up?

The crowd is busy in Technicalities, and is very very cautious too, see the people on this thread.

What was the break point here? was it 1680 or 1722 ? in that case we'll see a slow growth now, because we have "broken" the "barriers" and "Technically" it "must" go upward because that is what the "charts" tell us.

All i can say is play safe, i have very little stake in this game, stay cautious!
  • #15,795
  • Jan 26, 2012 9:43am Jan 26, 2012 9:43am
Quoting XTrade
I dont want to lose this post about your system and will create a hyperlink in the first post to it, you can let me know when you make updates.

After reading again it seems well thought out enough as a system for testing at ones leisure and / or live trade at ones own risk.
Thanks X
  • #15,796
  • Jan 26, 2012 10:52am Jan 26, 2012 10:52am
Quoting stevebalmmer
wich is the next target?
or we can fall back to 1700,and go up again?
steve

Next target is 1755. But for that we need a weekly close above 1730.
  • #15,797
  • Edited 11:11am Jan 26, 2012 11:01am | Edited 11:11am
Quoting Bemac
It's holdin & Looking like North. I'm not going to be involved until I see 3 Dailies Close above 1722.
Stupid Rules. I'm still playing.

Paradox.
I came to FF From Live, Real Trading.
Nerves = Steel
B
Wise words...especially as DOW is making/trying to make new highs as we speak. I suspect europe will be the catalyst again for further falls.

I am a cautious optimist, but suspect my first instincts were probably right. Higher volatility and further corrections are probably in order for the next few months. I will be a buyer of gold (again) in the 1300's - if it reaches these levels. Meanwhile, I have been selling into this rally with my stock positions to reduce risk. Better to hold real cash in a few diversified currencies for a while.

...will get no joy (from others) for stating this.

KR
  • #15,798
  • Jan 26, 2012 11:20am Jan 26, 2012 11:20am
Quoting Bemac
Good for You FxFcts. I wasn't sure. That's why I didn't blow my wad.. if you know what i mean.

Walking the Wild Path may bring you huge rewards but One Failure &... We will miss you.
Trade Middle of the road on TF Daily or larger & Trade a few Baskets.
After a month or so you will be asking yourself why you jumped in the Blender.

B
Think about it. Please.
...Je pense.

...also thinking about a few bank collapses, bank holidays and shorting the hell out of the DOW for the next few months!
  • #15,799
  • Jan 26, 2012 11:25am Jan 26, 2012 11:25am
Attached Image (click to enlarge)
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forecast hit to the pip on dow - although i held for more confirm from a lunar intraday aspect.
Attached Image (click to enlarge)
Click to Enlarge Name: to the pip.gif Size: 21 KB



dow i am 95% sure a heavy drop to occur by next week.
i have written on my journal a list of confluences that reach over 15+ on the list.

its on the 14 y o fx trader lessons journal if anyone cares to view it for closer inspection.

+1 stop utilized. time to sleep and need to sleep well - protect profit. i made a new rule to put a +1 stop after more than 30 pips profit. i know x would go against this - but if i trade gold again - it wont be like this. this applies to my currencies and index trades. (gold i will be back - and i will get vengeance and blood).


its so much easier on dow or whatever else i do except gold.
it really proves the level of trader that is required or needed to trade gold effectively. methods dont matter - its really the trader who trades it i believe. gold is a whole new class of an instrument to trade.

thats why maybe im having trouble with it recently.
Have I got something on my face, SOLDIER?
  • #15,800
  • Jan 26, 2012 11:46am Jan 26, 2012 11:46am
Quoting bumapatria
Attachment

forecast hit to the pip on dow - although i held for more confirm from a lunar intraday aspect.
Attachment


dow i am 95% sure a heavy drop to occur by next week.
i have written on my journal a list of confluences that reach over 15+ on the list.

its on the 14 y o fx trader lessons journal if anyone cares to view it for closer inspection.

+1 stop utilized. time to sleep and need to sleep well - protect profit. i made a new rule to put a +1 stop after more than 30 pips profit. i know x would go against...
Buma, I like you - I really do. I think you have a positive attitude and was going to chime in and say a few words, but then I realised most of these people on forums are not really traders. They are gamblers or day traders and they don't really want to trade correctly.

I was going to offer some advice (take it or leave it). I was simply going to tell you that imho trading is boring. Find a few bull markets that you like; find a low risk method to enter the market and then learn to wait. It really is that simple (and make sure you are in "charge of your cargo" and your risk).

You could simply find a low risk entry into your chosen market at the start of the week in the direction of the long term trend and when the weight of the market is with you, it will pick you up and there is no need to close out your position at the end of the week (or the beginning of the next). Just let your chosen long term trailing stop loss stop you out. It is never about trading. It is about waiting. Most people cannot get past the trading/gambling mindset. There will always be losses. It is how one contains these losses which matters.

Good luck "Buma". Find your style and stick to it.

Best,
KR

p.s. even I am fallable even though I sometimes get access to better information. I may have closed those euro shorts a bit too early!
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