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

weee
didnt get best fill. jumped up straight on the time..

price fell with increasing volume on tiny bars and a little of a confluence of earlier cycle lows, and the inverted shift shows a possible turn and turn it did. just used a minor cycle as timing for my long.

y sudden rise

i dont trade news or pay attention to it before hand or even when it is happening but i think bernanke spoke
http://www.forexfactory.com/news.php?do=news&id=350084
http://www.forexfactory.com/news.php?do=news&id=350087

not sure which attracted the buyers and a cascade up..

Ben hinted at QE 3 may be coming. Labor mrkt not doing that well.

breeze

You were all warned!!!! Hope everyone is in profit of some sort.

This was at 1660 - 20 bucks ago!

Breakout is stalled by the cluster of moving averages near the price.

See below.

Soon, it should rise above, they will become supports and de-tangle as it were.

You guys may want for currencies to look at the demo from time to time.

Ususally what I do is every two weeks or so is adjust the positions taking profit and loss on sunday night. Swaying the bias either in a net short against the usd
or a net long.

In this case - Gold is just sort of there because I am bullish so even if the USD were to rise, I might still be buying if they can correlate.
If not I would have to be flat or short.

I use various different pairs due to their difference in performance. In some odd twist being that I don't trade it that much (used to be my fave)
I have extorted the most booked profit from cable I believe, when it should be aussie or kiwi.

The gold positions in standard size at no leverage are SUPER expensive margin wise to put on so, there are not much of them in comparison to the currency positions.

Some things you may like to observe,
-How the open trades react to news,
-the length of time the positions are on for and the drawdown and upswing in thier profit - the one loser was over 10 k neg last week. now a few k. (i may have trimmed the fat as well to add at a lower price

Also,
About time, Usually in FX you are offered if so attentive ONE opportunity to get out of a bad position. If you miss it and the market is sort of in a 300 to 400 pip even 500 pip range (not big) you should be rest assured that if you hold the position, for a bit that is, (not encouraging holding large losers here)
you will either come into profit or BE. LAstly - IF it is sure fire against you and just keeps plunging or you think it might cut it ASAP.
Yet, even on strong dips you can count on usu a 50 % fib retrace too

X

...Can't believe I missed it. Had a limit order at 1656 and because of the spread I did not get filled last night. checked back at 9am and boom ... see ya!

oh well, wait for the next pullback I guess, maybe around 1670ish.

I had pointed this out last week how I was not happy that silver was being50 swatted down at the 50 SMA on the H4.

Here it has overcome it and it now may be flipped support on test.
We shall see patient ones.

XT

good question im not sure why i have 2 different numbers, for H4 charts i post that charting is done on fxcm trading station, for the M5 charts i post i use fxcm mt4 demo as i like mt4 for lower time frames

if you see my H4 chart i posted on saturday with my thoughts the 50fib is 1.655.97 i just always take whole dollar and say 1655 i guess i should round up the cent but just said 1655 now on mt4 M5 chart i posted 50fib is 1656.45 area and i dont understand why there different i think issue lies with fxcm price feed to two platforms or i havent draw them spot

just looking at chart now didnt have rip thru the 1669 all thanks to bernanke

What about spread?

Gold, Silver, Platinum, Palladium, all are in line today, about 1% up.
Not that one is up 1% and the other is up 2%, the rest down half percent, its not like that today, it all seems so right, like correction is over, but who knows?

I made a small buy, silver at 32.25, lets hope for the best

How do you set the FIB on XAU? I have run the scale from 1524 (DL of 29DEC11) to high of 1916.9 (DH 06SEP11). Is that how you do it? I'm on the daily.

J

It depends on what you want to see and how the move occurs,

Let me take a look, there are two ways to pull fibs, that's all.

Comex Gold Rallies on Bargain Hunting; Outside Markets Turn Bullish
http://www.kitco.com/reports/KitcoNe...JW_update.html


Stocks Rise on Euro Optimism, Fed; U.S. Treasuries Fall
http://www.bloomberg.com/news/2012-0...ocks-drop.html

wow Dow over 13...!

or should i be looking closer in, say recent H:1790 and L:1627.8?

I want something in addition to MAs and Stos to base entry/exits for moves

SILVER IS GETTING BID UP THROUGH 32.69 minor rezzz

what about the spread? its 50cent on fxcm

And??? it probably is floating on the mt4 platform

FXCM uses bid and ask charts -

ON MT4 based brokers ALL CHARTS are bid.

Jim I am looking and I dont see a swing low worth pulling at 1520 or what you said.

What is the goal?

A fib off the high to see where the price will climb back to from the swing low???

OR

A Fib From the previous low to the swing HI all time HI to see where the price may fall too???