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

  • #17,621
  • Mar 14, 2012 6:49am Mar 14, 2012 6:49am
Thanks X.

I made a Poor election of words with the hedge thing.
  • #17,622
  • Mar 14, 2012 6:57am Mar 14, 2012 6:57am
Quoting fxbreeze
Hi Mr. XTrade,

As I am still noob in XAU metal, I like to know more on the Bernanke speech coming. If he talk about more hawkish favour on U.S. economy, will we see massive sell-off repeated last week? And possible trigger price below 1660 or may be 1600?

I really like to know more, as I am really green on this issue.

breeze
hi breeze

if u remember i did talk about the FOMC and said if we have a hawkish statement from the feds we will dive south and we did ,

now what we are looking in a feds statement ,is the US economy is recovering or not will the feds raise rate or not , berny did hint they might raise rates befor the 2013 and the US is recovering and the employment rate is down NFP was good for the past 3 months stocks are flying high dow and es , berny will speak today lets wait and see if he conferim all above , if so i think we will see lower lows

i will add stronger dollar across the board
  • #17,623
  • Edited 7:03am Mar 14, 2012 7:00am | Edited 7:03am
hi i trade gold using pivots plus s&r on the short timeframes

i shorted this morning on the LH under the previous weekly low (1662.78). I entered once i saw confirmation using M1 for entry LH @ 1660.86.

I was a bit late in @ 1658.60 but 1:1 was available just with my stop behind PWL.

Got up to 48 pips before pinbar on M15 when the buyers came in, out for 28 pips due requotes

im testing mt4 scripts atm and my close all didnt work which trying to resolve now.

there is another LH how but i saw it too late, bummer

hope dont mind me posting here

Speed

ps reason for exiting at low was near to bottom for ATR but its just broken that lol
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" Dont wait for your boat to come in ..... swim out and meet it"
  • #17,624
  • Mar 14, 2012 7:01am Mar 14, 2012 7:01am
We are just under 1660, and nearing the channel bottom,
Using the weekly for analysis, I would determine a close below 1640, 30 something.... to be the last bearish leg down to retest the broken triangle.

Which now resides at the lower channel line or what I call the "dip line"
or reaction low area.

The USDX and Gold seem to be negatively correlated ATM, and if the buck continues to rise Gold should follow suit and fall.

A breach and sustain of 1640ish would suggest we may test into this area
which has a potential bottom area of 1550 to 1580 time adjusted.

YET,
do NOT discount the power of where we are now, there is the 50 WEEK sma as support as well as the channel bottom.

The session opens in 5 minutes and I am behind on news.
C YA in a bit.
X
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,625
  • Mar 14, 2012 7:07am Mar 14, 2012 7:07am
Yes X, finally my dream of 1520 will come true
  • #17,626
  • Mar 14, 2012 7:12am Mar 14, 2012 7:12am
A.M. Kitco Metals Roundup: Comex Gold Sharply Lower, At 7-Week Low, As More Near-Term Chart Damage Inflicted
http://www.kitco.com/reports/KitcoNe...0314JW_am.html

++ Could be a silent bull forming, shoulda bought platinum
Market Nuggets: Platinum Premium To Gold Rises To $30/Oz In Futures Markets
(Kitco News) - Platinum futures are now roughly $30 an ounce higher than gold after platinum this week regained its historical premium to the yellow metal...
http://www.kitco.com/reports/KitcoNe...s20120314.html

Gold hits lowest since end Jan, slips under $1,660 per ounce
http://www.reuters.com/article/2012/...82403220120314
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,627
  • Mar 14, 2012 7:25am Mar 14, 2012 7:25am
go to 1615 fibo 23,6
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  • #17,628
  • Mar 14, 2012 7:32am Mar 14, 2012 7:32am
Hmmm here goes the before-bernanke effect

would be interesting if Bernanke hints another QE although it is unlikely
  • #17,629
  • Mar 14, 2012 7:41am Mar 14, 2012 7:41am
Quoting XTrade
A.M. Kitco Metals Roundup: Comex Gold Sharply Lower, At 7-Week Low, As More Near-Term Chart Damage Inflicted
http://www.kitco.com/reports/KitcoNe...0314JW_am.html

++ Could be a silent bull forming, shoulda bought platinum
Market Nuggets: Platinum Premium To Gold Rises To $30/Oz In Futures Markets
(Kitco News) - Platinum futures are now roughly $30 an ounce higher than gold after platinum this week regained its historical premium to the yellow metal...
http://www.kitco.com/reports/KitcoNe...s20120314.html

Gold...

You keep sticking with bulls from 1700 area. Why not realize market is down 60 points and heading lower ?

I am sorry but i believe your analysis is worthless and still sticking with bulls as your all trades are stopped out. You should sit and relax while keep predicting for bulls.
  • #17,630
  • Mar 14, 2012 7:49am Mar 14, 2012 7:49am
Gold made a break through of a really good support level, short after bouncing off of it. So now we need to find the new support level, and I think we are coming up to it.

There seems to be two close choices here:
- either gold is going use the purple line (double tap support area)
- or fall a little further into a zone of Fibonacci Retracement Lines (marked by the greyed circle).

Will be keeping an eye on divergence for any trend reversals and trend continuation signals.
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  • #17,631
  • Mar 14, 2012 7:50am Mar 14, 2012 7:50am
Quoting Jhonypips
You keep sticking with bulls from 1700 area. Why not realize market is down 60 points and heading lower ?

I am sorry but i believe your analysis is worthless and still sticking with bulls as your all trades are stopped out. You should sit and relax while keep predicting for bulls.
I recommend you to read the posts again.
  • #17,632
  • Mar 14, 2012 7:50am Mar 14, 2012 7:50am
Quoting rubber_ducky
Gold made a break through of a really good support level, short after bouncing off of it. So now we need to find the new support level, and I think we are coming up to it.

There seems to be two close choices here:
- either gold is going use the purple line (double tap support area)
- or fall a little further into a zone of Fibonacci Retracement Lines (marked by the greyed circle).

Will be keeping an eye on divergence for any trend reversals and trend continuation signals.

1600
  • #17,633
  • Mar 14, 2012 7:54am Mar 14, 2012 7:54am
based on the pivot
it would be 1555 and 1520 if we breach the 1625 level

get ready for a bounce at either of this level, watch for reversal signal as well
  • #17,634
  • Mar 14, 2012 7:57am Mar 14, 2012 7:57am
Not to scare u guys,

I am taking a long position too myself, but im beginning to get scared when i see this chart.

Looking at the daily chart, isnt that almost a perfect head and shoulder aiming to go to 1500s?
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  • #17,635
  • Mar 14, 2012 8:00am Mar 14, 2012 8:00am
Where is your own analysis, Sir? Everybody is seeing the fall.
Don't forget the chart.
Thanks


Quoting Jhonypips
You keep sticking with bulls from 1700 area. Why not realize market is down 60 points and heading lower ?

I am sorry but i believe your analysis is worthless and still sticking with bulls as your all trades are stopped out. You should sit and relax while keep predicting for bulls.
Patience is magic
  • #17,636
  • Mar 14, 2012 8:13am Mar 14, 2012 8:13am
Quoting llrickkll
Not to scare u guys,

I am taking a long position too myself, but im beginning to get scared when i see this chart.

Looking at the daily chart, isnt that almost a perfect head and shoulder aiming to go to 1500s?

Do you trade big lot? Do you take stop loss?

breeze
  • #17,637
  • Mar 14, 2012 8:16am Mar 14, 2012 8:16am
Quoting kill56
hi breeze

if u remember i did talk about the FOMC and said if we have a hawkish statement from the feds we will dive south and we did ,

now what we are looking in a feds statement ,is the US economy is recovering or not will the feds raise rate or not , berny did hint they might raise rates befor the 2013 and the US is recovering and the employment rate is down NFP was good for the past 3 months stocks are flying high dow and es , berny will speak today lets wait and see if he conferim all above...

Thank you, Sir, for the explanation. I will browse through the content.

breeze
  • #17,638
  • Mar 14, 2012 8:42am Mar 14, 2012 8:42am
support at 1600 will form the inverse WEEKLY head and shoulders as i have been saying for quite sometime now
  • #17,639
  • Mar 14, 2012 9:25am Mar 14, 2012 9:25am
http://www.forexfactory.com/news.php?do=news&id=347796

was that all by berneke? Was waiting for a huge move
  • #17,640
  • Mar 14, 2012 9:26am Mar 14, 2012 9:26am
Quoting XTrade
A note to all budding traders.
EXAMPLE ONE:
The other reason for hedging is for large international corporations and governments, farmers and the like to protect a massive loss on an international purchase.

Say I have to buy 1000 Mercedes Benz in Euros (I have USD) and pay the shipping in Euros
However I am uncertain that in a year where the price of the Euro will be
so, if the Euro rises when it comes time to pay (unless there is a pre arranged price) I am out a sizeable amount more money than I would have been if I had not hedged....

Which Instrument do we see in the future? in International Trade?

Why are governments hedging precious metals, the future is not of Euro or Dollar, the future is of real money.

We cannot print gold or Silver, without the metal itself, can we?
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